AGLD Consolidated Thread

JJJJJJJJ · September 6, 2021, 6:57am

Id like to propose a merger of governance between loot and AGLD.

AGLD is a big part of the lootiverse now and needs to be included, its market cap, access-ability and inflate-ability can help develop the lootiverse to benefit both parties.

This would give small holders an entry point to the loot dao, it would allow rapid increase of treasury funds as required through inflation of agld. Some current market participants dont like the way it was dropped, but ignoring or separating it now would cause too much harm to many ecosystem participants and hurt loot in the future

Mr_Zhao · September 6, 2021, 3:36pm

I think AGLD is not suitable for governance tokens, because the person who holds agld does not necessarily hold Loot or mLoot.Some people sell Loot after receiving AGLD.
We have a better way to set governance tokens:
We can use Loot to farming, and the farming coins are used as governance tokens.

mbwithoutabank · September 5, 2021, 10:30pm

We need a currency made around incentivizing usage, maybe drop AGLD to wallets based on usage of the metaverse, or proven transactions with derivatives.

Time = Money

This will incentivize development of ID’s (Proof of Humanity) in the blockchain and reward people for their time spent in the ecosystem.

If AGLD does not improve the ecosystem we can create a new ERC-20 token focused on incentivizing the growth of the ecosystem not a particular group.

cmeth · September 5, 2021, 10:44pm

Here is my idea on this topic.

dot · September 6, 2021, 4:44pm

Fleshing out a proposal that I hope unifies all the parts of the Lootiverse.

TLDR: ‘Lootiverse’ as an ecosystem of games in which all players can earn $ASLV and $AGLD.

OGLoots/MLoots are simply the first example of a game (that’s still in dev) that enables this.

Pls give thoughts on improvements, bits you like/don’t like.

———

Dungeons and Degens

We will have 1 ‘proof’ OG game called “Dungeons and Degens” .

Only OGLoot and MLoot holders can play to earn the highest amount of $AGLD .

OGLoot holders are given land for yield farming and/or the ability to decouple loot items and sell them as synth loot . MLoot holders can play to earn $AGLD or sell their MLoot to other people wanting to play the game.

For now, people that have OG/M Dungeon and Degen Loot in their wallets hold the keys to the most exclusive game in the Lootiverse

Earning from Gameplay
Beating easier quests/missions win you $ASLV, medium - $ASLV + fraction of $AGLD, and harder game modes - a lot of $AGLD and $ASLV.

Lootiverse Marketplace
OGLoot holders can create synth loot and sell them on the Dungeons and Degens marketplace. Derivative games have their own marketplace where their players can buy and sell to the specifics of that game.

Currency
Currency across all game marketplaces should be $ASLV $AGLD for Lootiverse governance (which derivative project gets funded, marketing, paying contributors) and maybe (per @skunk, special character actions).

Other ideas that might be of interest @MrBigTimeCEO - Discord

Derivatives
Derivatives could follow the same OG/ML nature of ‘Dungeons and Degens’ (treating the idiomatic nature of loots as a schema/model from which they develop their own own loot-game system), accompanied with a marketplace that offers synth. Or something in the form of it. Games can come in different styles and game modes whilst maintaining the “play to earn” essence of the Lootiverse .

Derivative games are proposed to the DAO and funded in two parts :
1 - $AGLD capital for game dev
2 - $AGLD allocation for players to earn in said game.

The ‘better’ the game, the more funding and amt available to earn from playing. Devs could also build on derivative games by proposing expandable content. There could also be the possibility of an ‘arcade’ where all Lootiverse players try out and review derivative games.
Compensation could be the games’ OGLoot/$ASLV/$AGLD - to the choosing of the derivative game’s devs.

Pls do comment counter proposals/what you like/don’t like

MassAccept · September 7, 2021, 3:21am

You guys don’t make sense, if you screw with the currency you devalue it… look at every country!

DO NOT DEVALUE AGLD…
DO NOT PRINT MORE AGLD…

INSTEAD, ask for AGLD donations from LOOT/AGLD holders to fund the DAO…

This is how you raise funds… not by changing (what is supposed to be an immutable contract)

Request DAO funding from donations
This is greatly acceptable to everyone…
HELL you can even MAKE NEWS with how much is RAISED!
Accepting Donations Increases demand/price on AGLD
It lowers available liquidity (FURTHER BOOSTING PRICE AND VALUE)
Leave AGLD alone, it is fractionalized digital currency - let it flourish and let people acquire it…

Do NOT DeValue the 1st LOOT currency!
1st mover advantage is real… don’t go against the curve!

ASK FOR DONATIONS!
DON’T LOOT AGLD HOLDERS by devaluing their holdings, token holders are future players and current supporters!

LET thousands of people across the globe acquire this coin…
LET the word continue to spread…
LET adoption happen… this will drive up VALUE, this VALUE will spread to all LOOT-derivatives…

ASK FOR DAO DONATIONS

Additionally if the LOOT community keeps dropping/switching to something new every couple of days then there is NO STABILITY in LOOT or its community and NO TRUE VALUE!
THUS everything associated with LOOT, its NFTs, AGLD, BGLD, etc… will DROP in VALUE

Is this the message you want to send to the world?

DON’T MESS WITH AGLD…
Accept it for what it is.
Request AGLD holders to donate funds…
Request the community to purchase AGLD and send it to the DAO…
This will additionally send AGLD to the moon and really make a world wide presence…
You want to get AGLD on real exchanges… then DONT MESS WITH THE CODE!

That’s how you build more community adoption,
not by airdropping more coins and screwing over people holding AGLD, BGLD or any other tokens…

ADDITIONALLY, Not allowing token holders to vote on these concerns is Unacceptable
this is a community project and anything NFT/Tokens associated to LOOT should be able to vote!

DONT MESS WITH THE CODE
DONT MESS WITH AGLD INITIAL MEANING AND CURRENT-COIN LISTINGS

BUILD Market Domination so Intense that non-LOOT projects incentivize/incorporate AGLD into their games!

LET AGLD be the future currency of all Decentralized Games similar to El Salvador legalizing BTC as legal tender NOW every company/business/individual there will be acquiring/transacting with BTC…

This should be the way for AGLD!
LET IT BREATH!

Please see my proposal:
Proposal: Leave AGLD Alone - Create Layer2 Ronin-like SideChain with AMM

ashish · September 6, 2021, 10:12pm

A proposal that I think offers the potential to increase both AGLD value and the initial loot value as the system grows while giving newcomers a little something of value too.

Separate governance from AGLD and have it be assigned to the loot owners and mloot to make it more open and democratic.
Initial loot value is preserved by a class A class B style voting vs just having value for being the first edition. Ratio tbd but say initial loot bag votes weigh 20x m/xLoot vote
All holders including m/xloot holders get a one time distribution of ASLV - 1 AGLD gets 100 ASLV and each x/mloot bag gets 1 silver. This establishes value today.
AGLD can be further staked to yield ASLV as the games are developed to spend ASLV on
ASLV value also rises with the ecosystem and AGLD increase at a higher rate as it earns silver for free while everyone else has to go out and buy it. If there’s no development on the game front then it’s all worthless anyway

gagra.vc · September 6, 2021, 10:28pm

Hi everyone!

This is our first post here - been lurking in the forum for the past couple of days. Maybe you’ve seen our Tweeter thread on AGLD over the weekend: https://twitter.com/GagraVentures/status/1433912696412454914?s=20

A lot of discussions around AGLD take as a given that future development needs additional incentivization and there needs to be some DAO/Treasury and issuance mechanisms around it to properly allocate funds and incentivize growth of the ecosystem.

We think this is a misconception. Here is why:

Loot already has massive network effects and will only grow from here thanks to mLoot - it is one of the most widely distributed NFT projects already and will end up being the widest distributed in no time. Hence its network effects make it very attractive for devs to build on it already in order to gain a broad and engaged user base. It is the shortest path to success if only you know how to make a good game - no need to worry about adoption (which is usually a big hurdle for even the best games for years).
There is currently no IP for Loot. Effectively any gameshop can come up with a really good project on top of Loot and be sure to leverage it’s network effects (given no real competition) without any costs associated with use of IP. Instead, they may end up creating very valuable IP that gets adopted by the community and monetize it for years to come. Current quick community grass-root efforts are cool for the most part (if not just copy-pasta money grabs), but they’re not the end goal. We think there are great incentives in place already for the a-level game devs to jump in and development will take time, which is ok and hence those quick community solutions will be very needed to keep people engaged.
Developers are currently not restricted by any implicit in-game econ mechanics other than by issued Loots/mLoots. If they want to use a Play-to-Earn model or not, or have no in-game economy whatsoever - they may be free to do as they please. Not having to consider already issued assets other than loots and having those implicit restrictions affect gameplay. Economics are the gameplay or blockchain-based games, restricting creativity around it due to hasty, profit-driven decisions is a suboptimal solution.
AGLD has already been accepted as the Loot hyperverse currency. No need to change that. It can remain the gold of the inter-game world, a base asset that game devs may peg their newly issued assets to, including fungible tokens, just like national banks used to peg their currencies to gold. They may be incentivized to acquire more of it as they grow - as an SoV - into their treasuries, e.g. to back their tokens, but won’t be limited by it. Effectively, AGLD can serve as the inter-game currency and a SoV asset in the hyperverse and also an index for the combined Loot economy as passive investable asset. It should remain neutral in the sense that it’s not governed or operated by any one party or DAO and doesn’t have any explicit functionalities on top of it. We understand that this is not what the creator intended, but we also see how their perspective may be highly subjective here due to professional focus on on-chain governance structures.
The distribution of Loot and AGLD are already running their own separate ways for the most part, no need to try to marry them for the sake of creating a cohesive structure, as majority of people behind those proposals are mostly pursuing own agendas. Some are incentivized to “pump” their OG Loot, some their AGLD, others want to be included as they could only afford minting mLoot and would also like some free money on top of it etc. None of these are long-term motivated ideas and they also take inspiration from other crypto communities, thus limiting Loot to become just one single community run by one specific group that gets to decide whom to back, whom to incentivize etc… whereas in reality it doesn’t have to. There is no fair way to resolve this. The majority of actual Loot players hasn’t even emerged yet, why decide for it.
Letting the free market decide which games are the most attractive ones and which game’s assets are the most valuable in the Loot hyperverse incentivizes the biggest competition, which results in the better end products. Loot has already bootstrapped itself, now let the best game devs compete for players’ attention, instead of limiting gamers choice to only the devs that were chosen/incentivized by a DAO that is prone to error, special interest capture etc. We already have all the basic assets we need, let the rest be taken care of by the market, the incentives to build are already there.

The community will find ways to invest in growth and build without any specific structure behind it, just as Bitcoin did - because Loot is the Bitcoin of gaming (a complete paradigm shift). We’ve then had Ethereum and other projects with more explicit leadership/power structures/funding etc. built on top of it, not the other way around.

If you are an A-class game dev shop looking to build on Loot feel free to reach out

Loops · September 5, 2021, 5:24pm

Just curious Why would any proposal pass without Voting with AGLD with at least 30% of agld

MassAccept · September 7, 2021, 4:27am

ABSOLUTELY people be crazy… AGLD holders should get a vote

DONT CHANGE AGLD, let others choose to acquire/incorporate/AMMswap it!

Look at my two other posts:
1)AGLD Consolidated Thread - #21 by MassAccept
2)Proposal: Leave AGLD Alone - Create Layer2 Ronin-like SideChain with AMM

MassAccept · September 5, 2021, 11:47am

It is imperative to the purity of LOOT and all-derivatives that AGLD is not tampered with!

It should be seen as the most precious and rarest of currencies and transacted with subtending currencies via AMM only.

AGLD is FREEDOM in the purest sense.
It should be left to flourish on its own.

BTC Proved Crypto could be Trusted
ETH Proved Crypto could have Function
LOOT is proving Decentralization/Freedom is a Force NOT to be reckoned with…
AGLD is the currency basis of that Force!

By screwing with AGLD you effectively debase the currency of the decentralization force that is LOOT.

Don’t LOOT our progress by tampering with AGLD…

let it flourish and bring even more fire and attention to LOOT!

Instead, lets create a Layer2 SideChain similar to Ronin so any subtending currencies may freely transact with AGLD without ETH fees…

You want to see MassAdoption

build this and you’ll definitely have AXS running for its money…

Leave AGLD alone to grow old fat and wise and a Coin for all others to aspire to be…
→ This is the way!

[Above all else → LEAVE AGLD ALONE !!!]

indeed · September 5, 2021, 11:52am

Why wouldn’t we just use Arbitrum, Optimism, Fantom or Polygon?
Afaik there is a way to enable gasless transcations for ERC20 tokens.

MassAccept · September 5, 2021, 11:59am

Indeed for now, however as a side project to enable a smooth echo system internal API mechanisms would be just insane!

My thought is - WHY NOT!

WHY NOT build a community-driven API AMM etc…

If we are scared to step into the unknown then… why even build LOOT - everyone could just be playing AXS…

MassAccept · September 5, 2021, 12:04pm

Additionally, my main point is → LEAVE AGLD ALONE !!!

MassAccept · September 7, 2021, 4:45am

PLEASE view my other post: AGLD Design Proposal - #119 by MassAccept

Koi · September 6, 2021, 10:25pm

Firstly, using AGLD for currency in-game is a doomed venture. You will be creating the most P2W (pay-to-win) game I’ve ever seen. Early AGLD buyers or Loot holders will have an insurmountable advantage over new players in the Lootiverse. The only way to avoid this permanent capital capture in a persistent game world would be to hyperinflate AGLD, which would destroy it as a SOV and destroy confidence in the Lootiverse. Like it or not AGLD is the most important market signal to the strength of the Lootiverse. This was made apparent when the price of Loot pumped in tandem to the price of the airdrop of AGLD.

On the other hand AGLD is perfectly suited for the future growth and governance of the Lootiverse. Firstly, it is already listed on major exchanges with the indication that it is a governance token, fortunately or unfortunately. Secondly, it is fungible allowing for all manor of investors to support the creation of the Lootiverse. Thirdly, it is an instant way to create a treasury to fund development in the Lootiverse and direct capital to build it out. AGLD will give Loot the liquidity to really build the metaverse.

But what of Loot NFT. Shouldn’t they be used for governance? No, Loot NFTs should derive their value from their rarity and their positions as the first items in the Lootiverse. By forfeiting control to AGLD, which most Loot owners own anyway, you can focus on developing value for OG Loot. For instance original in-game skin or effects for original Loot. Create aesthetic reasons for players to envy Original Loot not just so that they can be more powerful. Imagine a future where millions of players exist ingame and you can walk around in your OG Loot and show off. There is immense value in that. Let’s use AGLD for what it is good for governance and to fund development.

MassAccept · September 7, 2021, 4:13am

DUDE RIGHT ON!

DONT CHANGE AGLD,
REQUEST AGLD DAO/Game DONATIONS
AND let others choose to acquire/incorporate/AMMswap AGLD!

Look at my two other posts:
1)AGLD Consolidated Thread - #21 by MassAccept
2)Proposal: Leave AGLD Alone - Create Layer2 Ronin-like SideChain with AMM

hicom11223 · September 6, 2021, 11:05am

A certain amount of AGLD can be destroyed to achieve the purpose of resetting LOOT equipment. The amount of AGLD that needs to be consumed increases with the number of LOOT resets!
If this proposal is passed, it will make LOOTPROJECT more playful and solve all existing problems!

MassAccept · September 7, 2021, 4:14am

NO

DONT CHANGE AGLD, let others choose to acquire/incorporate/AMMswap it!

Look at my two other posts:
1)AGLD Consolidated Thread - #21 by MassAccept
2)Proposal: Leave AGLD Alone - Create Layer2 Ronin-like SideChain with AMM

gagra.vc · September 7, 2021, 7:18am

Agreeing with everything here except that AGLD should be used in governance. No need for that to avoid power capture and limit Loot hyperverse to a single community (could very well be many).