Every derivative needs to branch out and have it’s own roadmap and build upon itself. Each derivative should be building and integrating previous blocks while also integrating cross-Lootverse derivatives as well.
AGLD is a derivative project of Loot and should have it’s own governance process and it’s own roadmap. AGLD can form it’s own DAO to govern tokenomics and eventually it’s treasury to form partnerships across the Loot metaverse and be integrated as Loot’s in-game Gold Currency. It will also help fund different projects and work with Loot’s DAO to do so.
Loot is the center of the metaverse spiderweb, and will have it’s own DAO to govern the royalty fees derived from OpenSea. The DAO’s main responsibility will be using that royalty revenue to fund development of different promising projects across the Loot metaverse, including helping AGLD if necessary.
Two separate DAOs, managing their own treasury (and tokenomics in AGLD’s case), working together to benefit all of the Loot ecosystem. This is the best path forward. AGLD is nothing more than a derivative project of Loot, and should not be given special treatment or governance power over Loot’s treasury. Every derivative project needs to fend for itself (with help and funding from both Loot’s Treasury and AGLD’s Treasury), and try to form partnerships and integrate different derivative projects in Loot’s ecosystem.
The reason for two separate DAOs instead of one combined DAO is simple:
If someone holds 300 Loot but no AGLD, they can vote to increase AGLD supply by 2x and airdrop it to Loot holders, which is in their best interest.
if someone holds 3M AGLD but no Loot, they can vote to use all of Loot’s royalties to buyback and burn AGLD, which is in their best interest.
The financial incentives are way too strong at this point to try to combine them, and the incentives are misaligned. We are talking about a $700M combined entity here. There is a lot of money at stake now.
It is extremely important to align incentives correctly here.
Agree that loot is the center of the metaverse and things should flow from there. Given that we can vote with loot, this would reward current holders of loot rather than whoever happened to be around for the AGLD drop.
AGLD is its own community and should definitely be a part of the lootverse, but directionally, doing snapshots based on loot holders feels cleaner from a governance perspective.
AGLD holders care more about AGLD than Loot. Loot holders care more about Loot than AGLD. of course there is about 55% overlap between the two communities. Therefore we should be working to try to align the incentives rather than allowing them to diverge further.
The interests were 100% aligned at the moment of the $AGLD airdrop.
They have since diverged somewhat as folks have sold their $AGLD and new folks have bought Loot but there’s a strong shared interest here in the success of the Loot ecosystem since both derive their value from that.
No separation. Loot and $AGLD. Together.
If the community feels this way as a whole, an announcement should be made with the intention to separate the two. $AGLD should create its own DAO and take its funds with it.
I really like this proposal and think it will be great for both loot and agld, i believe any attempt to integrate them together will be blocked by one party or result in a fragmented community. Separately together, works really well as both are incentivised to create the loot metaverse
Totally supportive of this view. I think they should be distinct entities.
AGLD can be incredibly useful and valuable within the lootverse without ever having to lay any claim on Loot governance rights.
This discussion was had in the discord, but for an example lets imagine we’re going to build a game. A Loot MMORPG where there are quests, characters with stats and skills, and craftable items. As the game creator I could petition the AGLD dao to receive AGLD to be used in my game, it could be a one time grant, it could be a grant of an amount of AGLD over some specific time period.
In the game players would receive AGLD (or fractional units of it, think the traditional Gold > Silver > Copper routine) for completing quests, winning battles, and other activities. This is clearly an example of AGLD being used as an ingame currency but at no point does AGLD need to have any governance right over Loot.
Take it a step further, the game could even have activities that require spending of AGLD, such that on net the game could even be deflationary to AGLD. You could see that NPC purchases, crafting, skill and stat resets could all be activities that require AGLD to be spent. Because there is value for spending AGLD in my game, you could expect some players to purchase AGLD away from the game to use it within the game.
You could also see how another developer could come along and petition for an AGLD grant for their game, and we could have AGLD be granted for similar purposes but implemented differently. We could have AGLD be the currency for dozens of different games.
I would love to see this happen, and most importantly it never requires that AGLD get a governance right over Loot.
^^^ This. Regardless of how the community decides on governance, we need to arm the LOOT team with a treasury to pay contributors, onboard partners, pay for marketing, etc.
The simplest way to do this is to make AGLD an in-game currency that:
Players need to spend to play the game. Example: Buy characters to start a LOOT game
Players can earn for completing quests and leveling up / acquiring XP
Once we decide that the LOOT community will use AGLD for these functions, we can also use it to reward contributors, pay for marketing and bring on new users like the mLOOT community.
For example, one easy way to resolve the divide between the LOOT, mLOOT, xLOOT and BLOOT is to treat each of them as “users to acquire” and to award them AGLD when they engage with LOOT games and complete specific tasks.
For example:
mLOOT holder connects his wallet to LOOT game → +10 XP
mLOOT holder plays LOOT game → +10 XP
mLOOT holder plays LOOT games 5 days in a row → + 75 XP
mLOOT holder acquires 100 XP → Can swap 100 XP for 1 AGLD
This has the advantage of both transforming AGLD into a user acquisition device and insuring that AGLD is only awarded to new users (mLOOT, xLOOT and BLOOT holders) who actually engage in LOOT games and “earn” their AGLD.