I’d like to allow for teams that win an auction to have the option to self bond a certain percentage of the auction total in order to auto extend the lease period for another 1-3 years.
For example something like 1 yr = 15%. 2 yr = 25%. 3yr = 35% of the winning auction total could be self bonded to extend a lease up to a total of 5 years before needing to rebid. Even then I wonder if there’s a less intrusive way for a team to renew but perhaps that’s another discussion.
Users who contributed to the auction would get their DOT returned at the end of the 2 year lease, but the teams self bond would remain from day 1 until the end of the optional extension.
This would take away some uncertainty for teams and users. there’s a lot of mystery surrounding the auctions outside of the eco and this could help take away some of that and provide some stability for the eco in general
Any bad actors could be removed via governance should anything egregious takes place. However providing some stability in general allowing teams to build and not have that 2 year lease hanging over the heads of everyone would be rather bullish.
I believe this change would encourage more builders and ease some of the criticisms of the auction system by providing more stability for users, teams, and investors.
I don’t believe this 2 year lease period is good for the term growth or sustainability of the ecosystem for many of the reasons mentioned above. It was a nice starting point, but we need to allow for some more flexibility and stability in the system IMO.