2022-06-28-episode-30.md

posted	guid	title	subtitle	description	time	itunes-explicit	itunes-episode	itunes-episodeType	youtube-full	discussion	timeline	enclosure-url	enclosure-length	enclosure-type	itunes-duration	badges
true	748DC5E4-BEF0-419D-8740-96152975F6A1	Floor price control		In this episode, the hosts discuss the concept of floor price control in NFT marketplaces. They explore different scenarios such as centralized, walled garden, and optimistic approaches to implementing floor prices, and the potential legal and regulatory considerations. They also touch on the topic of Islamic banking and finance, and the use of referral fees to mitigate gas costs.	2022-06-28 18:00:00 -0500	false	30	full	https://youtu.be/qNppQLNRvNQ	https://twitter.com/fulldecent/status/1541923784466259968	seconds title 0 Intro seconds title 109 Website naughty list seconds title 169 Control your own marketplace seconds title 244 Ding people for listing seconds title 1083 NFT + DeFi = a security? seconds title 1116 The Howey test seconds title 1511 Ban floor prices seconds title 1678 Staking to earn interest on NFTs? seconds title 1689 Bibles, interest and token staking I seconds title 1800 Does gas subsidy work?	https://media.phor.net/csh/2022-06-28-episode-30.m4a	39866792	audio/x-m4a	1978

• @DopeDobesMafia @_j4y3 from Michigan
  • The Foster Protocol / 0.5 floor price and dropping 0.05 per week until 0.15 // how to listen to transactions
  • Want to make smart contract know if someone is listing under 0.15.
  • TOP TEN: on-chain inspection of market prices
  • Seaport approach / decreasing price and Merkle proof
  • Scenario A: centralized, only the admin can report people
  • Scenario B: walled garden, only tx happen on YOUR market place
  • Scenario C: optimistic, anybody can access OpenSea and get prima facie evidence of defecting which is validated on-chain
  • Scenario D: Seaport moving price offers
• "Floor price" and "attribute bidding" are probably illegal
• "This is not religious advice" interest
• Wisdom of setting floor prices for assets without inherent value, what laws might this be breaking (USA)
  • Legal and regulatory considerations
    • SEC Framework doc
    • Four points of the Howie Test:
      1. An investment of money
      2. In a common enterprise
      3. With the expectation of profit
      4. To be derived from the efforts of others
    • Cartel / price fixing / price collusion
    • Interest in Islamic banking and finance
  • Economic considerations
• What if we buy it back?
  • Buy/sellback agreement is pawning – governed in state law
• From voxval0r: Seth Greene’s stolen Bored Ape NFT
• OpenSea Seaport Protocol
  • A relayer or referral fee allows third party to post transaction (also called ZERO GAS)