looks like I commented but not replied, again… Please check the above comment ser.
Thanks for the time of drafting this proposal. Feel it is too complicated. Can we just address one most important point in the porposal?
My two cents ate, NFT is not like a typical ERC 20 token. Staking them may prevent them being used in the future games. Instead of staking, i proposal just to airdrop, say, 1000ALGD to more loot holders, just like what ALGD did for Loot holders.
The key is to get more people into the loot ecosystem. Loot has 2.5k owners. More loot has 20.7k owners. It is a bigger pool, but the speed of minting more loot is slow. By airpdropping ALGD to more loot holders, it will motivate more people into the loot ecosystem.
Disagree. This Stake-Reward mechanism just like DeFi, not LooTverse.
It’s a bad idea, and lack of imagination.
LooTverse is a universe, come and interact with it, you should be rewarded, not just staking.
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Fewer moving parts has been one of our core principles to follow when drafting this proposal. Obviously looking to build something more sustainable and decentralized is of higher priority. Hope the examples has been helpful to understand our model. Primarily we proposed to disctribute newly issued AGLD according to Loot’s and mLoots’s value proportion in the market.
More people minting mLoot only for getting airdropped AGLD is not good news for the ecosystem. They will mostly be speculators and do little on contribute long-term value.
LOL ahahah love that “lack of imiagination” comment. Loot is really fascinating for the unlimited imagination it brings to me. Just that when it comes to designing a token model, I wish to choose something people are kind of familiar with, and battle tested. Newly minted Ethereum is distributed to miners via PoW for now (perhaps a lack of imagination given it’s similar to Bitcoin), but the innovations on Ethereum is not only innovative but also rewarding.
Hi @Hill and thanks for replying.
Actually I disagree to your statement. The key point in my outline is the exact opposite of “have a DAO control everything and give everyone a lot of money directly”.
- I propose that AGLD govern the AGLD universe and nothing else, Let Loot be Loot, it is already uncoupled, and I think it is beneficial to have several different coordination centres. AGLD would be one (very prominent).
- I’m directly against airdropping tokens to Loot/mLoot token holders. At this point utility, growth and ecosystem is most valuable as a whole. Not token distribution to current Loot holders.
- I think its way too early for complicated tokenomics. Keep it simple until its not possible to keep it simple anymore
“Also minting 10M of AGLD monthly will lead to massive inflation and AGLD dump to destroy value. Predictability is key here.”
I disagree again. It’s too early. Value in both the greater Loot-verse and in the smaller AGLD-verse comes from ecosystem growth at this stage, not plan economics. Tokenomics is for a time when there is a clear design goal. What are you designing for?
The first target (primary?) in the proposal above is “AGLD is to become a core component of a LOOTverse currency stack that aims to be a ready made set of strong currency tools to be used in LOOT related games and to be used across them to help tie together a single metaverse economy.” If this is the primary target, then design for that.
I actually don’t see how target two "to make Loot & mLoot a yield generative NFT; stake Loot & mLoot to get AGLD yield" supports target 1, in my mind it’s contradictory at this stage.
Also, the last statement in your reply to me “Predictability is key here.” has been falsified several times over the last years, e.g. both Synthetix and Yearn removed fixed token caps which greatly accelerated ecosystem growth and network value.
I’m happy to discuss holding/dumping incentives among builders vs airdrop target if anyone is interested (hint: builders have a much bigger long term interest to maximise value).
I hope you take this feedback the right way, it’s just that reading the proposal is not what I think is the best course of action given best practices in venture funding and previous real world examples in the crypto space that aim for maximum growth.
If you have previous examples and experience where pre-product staking tokenomics accelerate ecosystem building I’m very interested to learn more.
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For those 3 points mentioned:
- We are aligned. The AGLD we proposed is an incentive token for Loot & mLoot, not governance.
- WE are not entirely aligned. We believe that growth & ecosystem is the most valuable, but a good token distribution plan is a must-have to achieve that. Distributing to Loot holders is the fairest way and with all kinds of benefits mentioned in Adventure Gold Tokenomics Proposal v1 - #29 by Hill.
- We are kind of aligned. I assumed that your opinion is our proposal is complicated. We believe it is not since it only covers the supply side and it’s just distributing according to Loot’s & mLoot’s respective market cap’s proportion. Just that those formulas may seem complicated.
On design goal: target 2 supports target 1. By having AGLD as the “income currency” of Loots & mLoots, currency tools can be made with AGLD. If people’s income is paid in USD, places to spend money will have a high chance to use USD. Then policies that influence USD will be more effective.
On predictability: removing hard-cap does not necessarily remove predictability. If the AGLD community would want the hard-cap removed I believe a proposal would be passed. High inflationary issuance has been discussed from the very first day and from our feedback the community is not in favor of that.
BTW we do not have a stake AGLD to earn AGLD incentive, only staking Loot & mLoot. Just like any liquidity farms out there, people are staking useful assets in return for governance token. The success of Defi has that proven already.
Thanks for your feedback and it is great that we have critical participation from the community. Really appreciate it.
Still prepfer rewarding participants for minting activities of mloots instead of staking lotts/mloots. Minting will birng more users to the ecosystem, although with the price of inflation of ALGD, but acceptable, as it benefits for the logn term of ALGD. With more users or stake holders, the coin will have a higher chance of becoming the consensus coin for gaming. Staking reward is too little to incentivize new entrants.
Can you elaborate on how stuff can be built on AGLD? I thought we should encourage built on top of Loot and if AGLD proved to be a scarce resource it will align with greater loot community as an incentive currency.
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The loot project has got the attention of Coinbase!
Now we need to find a use case for AGLD…
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I like this proposal.
We agreed to open the AGLD vote at 11: 00 today.Why can’t the webpage be opened now?
I want to put the AGLD in the exchange in my wallet today. Why can’t I vote?WHY
Hey guys, it’s a great proposal that gives a lot of value to the Loot ecosystem for sure.
I just have a quick question, why is the AGLD contract not verified ? I think it’s quite importante for the contract to be fully open source before we do anything. The permisionless nature of Loot require being fully open for the product that want to join the lootverse (otherwise anyone can join the lootverse, create a scam and scam loots holders !)
Please put the ALGD token contract fully open source, it’s important 
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No one can be seen in this dead community.Please get active.To safeguard our community together.
Why don’t you vote in the official?
It’s so early I think people who are more into the crypto communities are just scratching the surface of what this community is. All they see is AGLD with 70m limit, and possible triple digit $$$ value. The future may be very bright in regards to crypto/nft/gaming.
One thing I do know for sure, devaluing AGLD will be one of the worst things they can do. It has so much potential to be worth 25-50x its current price.
