AGLD Consolidated Thread

[MassAccept]

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]

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.

1. Separate governance from AGLD and have it be assigned to the loot owners and mloot to make it more open and democratic.
2. 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
3. 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.
4. AGLD can be further staked to yield ASLV as the games are developed to spend ASLV on
5. 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]

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:

1. 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).

2. 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.

3. 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.

4. 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.

5. 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.

6. 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]

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

[MassAccept]

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]

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]

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

[MassAccept]

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]

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

[MassAccept]

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

[Koi]

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]

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]

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]

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]

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).

[antifragileloot]

The short answer is skin in the game. OG Loot holders are taking several orders of magnitude more risk than AGLD holders.

Let’s compare OG Loot holders and AGLD holders market risk.

$10M of AGLD holder:

• You can hedge price risk by shorting AGLD-PERP on FTX. Essentially you can have $10M of voting power with literally 0 market risk and 0 exposure to the ecosystem.

• You can even try and are incentivized to sabotage governance and hurt the Loot ecosystem and profit by shorting x2 x3 x10 your AGLD position.

• Liquidity, you can fully exit your AGLD position with little slippage on a very short period of time. Governance can be gamed by short term holders.

$10M of OG Loot holder:

• There’s no way for you to hedge your position, the most you can do is short ETH which doesn’t protect you against the Loot ecosystem risk.

• You are incentivized to contribute to the Loot ecosystem, if you try to harm it then your bags go to 0.

• Illiquidity, you can’t exit your position in a short period of time. It’s just impossible unless you plan on sending the floor to 0. We are talking orders of magnitude of more illiquidity and slippage compared to AGLD.

• Bad actors need to buy the illiquid floor to have a relevant voting power, if they try next to harm the ecosystem, then their bags go to 0 and pay the costs of doing so.

For all the reasons above, I value the vote/opinion of $1 of OG Loot x1000 times more than $1 of AGLD for the betterment of the Loot ecosystem.

If AGLD ever gets governance rights then it should be proportional to the market risk / skin in the game being taken. My estimates are that OG Loot holders are taking x50-x100 more risk than AGLD holders. 50%-50% governance rights is absolutely out of the question in my honest opinion. Just the fact that we are talking about the possibility of giving 100% of governance rights to AGLD holders is downright insane to me.

[Koi]

No one’s threatening to inflate Loot, but they have 50-100x risk? Give me a break. If Loot wants 100% of governance than we should be minting loot to sell to fund development. Also, who on earth has actually done something in practice like what you suggested, like shorting AGLD-PERP by 10x while simulataneous sabotaging governance with tons of the barer asset. This is some fantastical FUD.

Nonetheless, I see your point to some extent. Loot holders are more illiquid than AGLD holders, but right now Loot holders have way more power than AGLD holders, and could collectively obliterate the AGLD market as they are doing right now. Luckily a few whales don’t want to destroy all good faith from the derivative communities.

[joool]

Agld community could be the governor for any project in hyperverse.It should assist Loot to establish a complete project ecology and become the governor of the entire ecology.

There is a potential prototype :

1.Agld community issue 2 token:Agld Aslv

• Agld, as its own governance token, determines agld’s own affairs.
• Aslv.The total supply is 70 billion(for exemple), which is used as the circulation token of the entire hyperverse and the governance token of the project who accept it; Currently, if mloot accepts aslv as its governance token(all the affairs is governed by aslv holders), 30 billion aslv could be airdropped to mloot holders; 2.5 billion will be airdropped to agld holders. 2.5 billion airdrops to loot holders. For the future project, there is no airdrop, if they accept aslv as its governance token, they could be included in the hyperverse project to get aslv reward(see below).

2.Agld community found a treasury, to reserve agld and aslv, managed by agld community, and consider founding a treasury management committee (elected by agld, which may include loot representatives)：

• Agld, a target reserve of 2.5 million, consisting from royalties, transaction fees, donations, and investment (accepting private investment, and cashing out the profit to private investors based on the annual treasury investment income);
• The aslv target reserve is 35 billion, which will be deducted from the aslv initial issuance, the reserved aslv don’t participate the community governance.

3.The treasury management committee (or founding a project verifying committee) is responsible to verify the projects conforming to community’s requirements and fund them(by Aslv ):

• Most of the fund should be rewarded to mloot and loot holders by the project (according to the holder’s progress and performance in the project).In this way, we realize airdropping aslv to effective community members, and help project get its client.
• The remaining part is support for project development. Of course, we will get investment income from project profit in a certain proportion, and these income will go into the treasury.

4.Establish a liquidity pool on uni, with 70 billion aslv and 1.4 million agld injections;
5.The treasury management committee is responsible to adjust the exchange rate between agld and aslv to a target one through the uni liquidity pool (this rate is proposed by agld community) to regulate the entire ecological economy.
All the above specific figures are for example only and can be adjusted according to actual conditions

[mec]

People need to rethink the fees, profit, income and airdrop stuff. You can’t mess around once there’s money involved. AGLD now has a dollar sign next it. The more it looks and feels like a game the better.

The ability to mint more AGLD is a bad idea, but staking AGLD for governance and rewards is good. Let’s say 8% inflation yearly that decreases by 1% each year until it gets to 3-5%. 10% goes to the treasury. Because of the recent 50/50 vote, I think governance at this point would best be with people locking up their NFT and/or AGLD for voting rights. Use some weighted formula. I have a hard time understanding why Loot holders don’t want a AGLD for a DAO. The DAO can’t really do anything to negatively effect Loot. It can only expand it. I hold both. You can form contracts to use AGLD to purchase Loot quarterly for promotional event. Apes together strong. My guess is that these people think others will choose to buy AGLD over Loot.

AGLD could be the currency for the next evolution of Loot. Customizable inventory slot trading. Mega whales can deck themselves in ultra rares. More market activity for trading individual pieces. New price discovery. You can be naked with a divine crown. I don’t actually see this evolution scenario happening but it’s fun to think about. We’re doing some of this stuff backwards so it’s up to us to create utility.

Let’s say the first Loot sandbox game is made. You can only purchase land with AGLD. The development team get cut for server hosting and development. Artists would get a cut on their cosmetic sales. OG Loot would have a season pass, whatever that means. Exclusive drops. Beta testing. mLoot would be playable characters. sLoot could be spectators. Basically Decentraland, but actually decentralized. It would be ours. These type of games are all about status and flexing. NFT are pretty much this at this point.

AGLD would fork another type of in game currency like ASLV for this universe and different forks for other games. The only way to obtain ASLV would be participation and completing basic objectives at first. ASLV would be used in that particular world according to how the creator sees fit. Cosmetics, property, all sorts of things. Whales can purchase the in game currency using AGLD as a shortcut. Developers once again can choose to get a cut here. Free to play characters can earn items to sell to whales.

The Loot and treasury fund from sales idea I’ve seen floating around is not ideal. Keep art art.

[mec]

I’m looking at the chart here https://twitter.com/lililashka/status/1435663709867757575

and I’m lost. What is loot governance? From what I can tell there is no governance. There’s a possibility for AGLD to become a body for kickstarting builder projects. We can create a treasury through inflation via staking. Directing that treasury requires governance. It makes sense that staked Loot, staked mloot and staked AGLD would have votes for treasury direction. Locked in for votes so you can’t manipulate and sell. Future projects would have to incorporate Loot, mLoot into their worlds.

Builder projects do not initially have voting power in the treasury because there’s a conflict of interest. Builders who build around using AGLD as a currency obtain AGLD, gaining voting rights. Build something useful for AGLD → gain AGLD. AGLD gains value from utility. Mloot gains value as a login. Popularity increases overall value for everyone.

The biggest priority right now would be to start building a Massive Online Metaverse that incorporates these pieces. Different types of builders would become merchants in this world. Kind of like recreating the world digitally. It doesn’t have to be this big at first. It could be more simple like the VR game Rec Room.

Right now people use Rocks and punks as a twitter flex. Cosmetic goods are tied to their respective ecosystems. The values are fragmented in bubbles. We can finally have a way for people to truly own digital property and worlds to showcase them. The main points here, less middle men, more freedom, new economy for anyone to participate in.

Maybe I’m overestimating the possibilities of all this.