AGLD Design Proposal

After discussion in the LOOT channel I propose that we airdrop AGLD to all LOOTverse members including mloot minters to ensure maximum community participation and adoption and avoid a fork in the AGLD currency.

Given that AGLD has already been dropped and has been trading on the market for over 48 hrs I suggest that the inflation rate is kept low to avoid damaging early hodlers and belivers from within the LOOT community and reward early LOOT buyers.

This would equate to around 5-10AGLD per mloot minted and would represent a starter bonus for joining the Lootverse which can be used to pay for in-game items from scratch.

The rate of inflation should afterwards be controlled to prevent rewarding minters who mint for the AGLD only as the price of AGLD rises over time.

Benefits of approach:

  • Everyone gets AGLD to help start in the LOOTverse
  • early investors dont get rugged by rampant inflation
  • avoid an AGLD fork
  • Provide additional value to both OG Loot hodlers and to new entrants

Growth of the ecosystem should outpace inflationary pressures, over time this would also reward mLOOT hodlers as they should see thier AGLD value rise, everybody wins.

Let me know what you think!

Edits - The number to airdrop appears to be low, its suggested that we increase this to 50-100 AGLD instead.

AGLD could be a global currency across games, its strong value over time would mean that devs and players alike would be incentivised to stack it and rewarded (increased cross project integration). The governance fucntions would also be preserved. If an inflationary currency is needed, games can create a new currency or we could create ASLVR. This way everyone would want to intergrate gold because its a valuable SoV across the Metaverse

56 Likes

This seems reasonable. I think everyone understands that to function as a true in game currency we need AGLD to be somewhat inflationary. This represents a first opportunity to define some of those parameters while simultaneously extending an olive branch and inviting mLoot holders into the ecosystem.

8 Likes

The perfect proposal in my opinion.

We don’t fully know how to deal with inflation at the minute and I think that should be reserved for another vote.

However, a small token drop to kick-start all mLoot would give a boost to the overall ecosystem. This allows for a hospitable welcome to all the new members and a feeling of inclusion.

Per address is possibly the best option to avoid people trying to game the system as easily.

2 Likes

Just to be clear, my thoughts are based around discussion, figures should be calculated with more granuality, it may be that more of less inflation is optimal. Please help me with this!

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Posted the following before I read yours. I wonder if there are synergies to be had across proposals.

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I think you seriously risk destroying any value / voting potential of AGLD if you tie it to mLoot now.

For anyone who isn’t aware, the content of every mLoot bag was immediately known after mint.

So bots just claimed all the top bags.

Rarity has no meaning in such a distribution.

And I struggle to see how a distribution like that will ever work for the loot expansion that was supposed to be for everyone, and supposed to used as basis for participation.

I have no idea if dom’s intention was for rarity to be known, and his intention frankly shouldn’t matter at this point, but mLoot seems fundamentally broken IMO.

15 Likes

i support this proposal , very bullish.

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I support this! Makes a lot of sense.

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I wouldn’t have any problems with this approach so long as incentives are aligned going forward.

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mloot suppose to be a fairdrop, but I really don’t think mloot is, cuz it’s totally smashed by bots.

3 Likes

I agree on definitely airdropping a tiny amount of AGLD to the metaverse. It is imperative we pre-empt AGLD forks that would detract value from AGLD (as BGLD will definitely have more users).

If we airdrop AGLD to mLoot, we win BOTH mindshare of mLoot, AND legitimacy.

One thing that I would caution however, is to avoid airdropping that AGLD to OG Lootholders this season;

(1) OG loot holders already got our airdrop this season

(2) if we do an airdrop together with OG loot, they can see upfront the unequitability, and also reeks of a cash grab. we should upfront be generous to prevent disgruntled forks

(3) We should make clear that this airdrop is one-time only, as a gesture of goodwill to our new brethen → this also further drives in the difference between OG loot and mLoot; a premium membership vs. F2P (we also have to make sure however, that its not P2W)

(4) Future airdrop seasons only can be claimed by OG lootholders

(5) AGLD airdrops to mLoots also should be by per wallet, not bags, due to the virtually infinite supply (not too clear how to prevent sybil attacks, but you get the point)

In this manner, we ensure a win-win situation across all parties. Crucially, we align incentives and make AGLD THE currency of the metaverse

7 Likes

As a loot and AGLD holder, I agree with @heygareth.eth’s proposal. I also think the drop should be per wallet holding mloot to discourage mass minting / gaming the system. To offset the potential temporary devaluation in AGLD, I propose that a proportional amount to be airdropped to loot holders.

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Rarity has no relevance to this conversation, in my opinion. Keep in mind that there are projects already in flight that are designed to allow item unbundling. In the relative near future bags will simply become character slots - items themselves will likely be traded, sold, upgraded, etc.

The conversation here is around how we should handle incentives via AGLD for existing community members (OG Loot) and new community members (via mLoot).

3 Likes

I agree with all of this. mLoot holders must be made to feel a full part of the community, anything less just hurts everything (including OG loot and AGLD holders). That includes holding some AGLD for holding and playing future games.

5 Likes

Yes, do it. Need more AGLD in the system. This is like giving stock options to participants – increases all values over long term significantly. 100% support.

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I like this. We should give the mLooters some AGLD, but we need to be clear about two things:

  1. Inflation will be a thing…i.e. mLooters won’t get 5-10 and that’s a wrap. Each year or month there will be drops. Also gets buy-ins from secondary market Loot owners who never got their AGLD drop, and

  2. Making clear that OGs will get more than mLooters is subsequent drops.

Great direction! check out the proposal I made, too!

1 Like

I also agree with this proposal, the amount is my issue, 5-10 sounds very little compared to 10000. I think 50 sounds better, even if it adds 50 mil to the market cap.

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Id agree we could increase the amount, the main issue is that we would need inflation to cover the cost of minting but not exceed to avoid every mloot getting minted right away by one of two people.

Totally support a little higher, lets give everyone the gold, just dont print loads and destroy it!

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Upvote to this - I’m with minimal inflation but I think anything less than 100 AGLD would make this simply lip-service to mLooter inclusion.

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Correct. There is a massive risk of a successful fork if there is not some short-term hurt to the supply.

3 Likes