Claiming land
codynhat opened this issue · comments
Claiming land (also considered "minting" land) has some open questions.
Unclaimed land is any land that has never had an owner. This does not include the transfer of land.
- Can anyone claim any land?
- What is the price of claiming land?
- Is there a minimum self-assessed value required?
Requirements:
- Any ETH account may claim land
- There is some minimum self-assessed value that must be set, but no initial cost
- Some amount of taxes will need to be paid ahead of time
-At smart contract, tax paid must be >0
-On UI, set a default tax based on reasonable expiration date
- Minimum value is 10 DAI
- Initial tax rate is 10%
- Minimum expiration 1 year for claims and foreclosed claims
- Minimum expiration 2 weeks for change in value
- Maximum expiration is 2 years
- Allow for users to lose prepaid taxes if expiration goes > 2 years due to drop in value
@codynhat Just was thinking land parcel split and combination transactions. We'll want to apply the same min/max validations listed above plus a few other operations:
- When an existing land parcel is split, how should the existing prepaid taxes be allocated across the new plots? Do they enter it manually or do we compute them based on an even split or proportional to the new self-assessed values? I'd lean toward automatically computing them proportionally (i.e. a single plot of land becomes a $60 & a $40 plot. $10 in prepaid taxes goes $6 to plot 1 and $4 to plot 2). Two-week minimum enforced still.
- When two or more parcels are combined, the outstanding prepaid taxes will be combined as well. Expiration date can't exceed 2 years. During the combo transaction the licensee should be able to enter a new (presumably higher) self-assessed value, so they don't accidentally lose taxes.