I suggest that we introduce a inflation system similar to bitcoin halving, where the AGLD per loot halves every 130K mints (10%) of the whole mloot supply. Starting from 100 AGLD per loot, I have calculated that the total inflation will be only 32% of the current supply. I think this will greatly deter bots who mint purely for AGLD when we reach 260K mints since current price of AGLD will not exceed gas and opensea selling fees.
It’s impossible to please everyone, and pandering to these requests at such an early stage can be disastrous. If you minted a loot bag and held it, you have the opportunity to claim AGLD. A lot of stuff has happened since, and yes the community should build incentives for people to want to own a loot bag. But that should come later. Please let’s stop this concern trolling, and move on with embracing AGLD as our governance token.
We follow the same airdrop mechanics as original LOOT (drop per loot)
8000 LOOT got 10 000 $AGLD which is 80 000 000 $AGLD
There are 1 316 001 initial mLOOT hodlers so we drop 80mil divided by it, which is ~60.790227363 $AGLD per mLOOT
This will dilute $AGLD by x2 the liquidity (extra 20% follow the same distribution, not sure, did it go to treasury?), so for this to be decided we should vote, once vote passes we also automatically x2 the quorums for governance contract, if have it already)
Thats it, also im not even sure that’s the drop is necessary, but if done I think it would be nice to be equal for all loot participants, plus imo there is one major concern here, for those people who bought into $AGLD without getting dilluted, but they casting their voice should solve any problems plus could get their hands on more mLoots, I dunno just thoughts
No matter what we all decide, the decision needs to happen soon. People watching Loot need to see movement and progress. There has been a lot of talk and the more talk there has been the more lost people are getting in the details and overly complicated ideas. As far as I’ve seen there has been no discussion of how we actually decide which of these proposals win since we have no DAO yet.
We’ve all heard many proposals and ideas already. Most people already have a general idea of how they want to vote. Now what?
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.
Please see my new thread under “AGLD as a Distinct Entity (DAO)”
Why don’t we just fractionalize OG loot. 1 OG loot = 100 floot.
OG loot owners can decide whether they want to fractionalize loot or not. Then we make another airdrop. floot qualifies for it + og loot if not fractionalized.
With potentially 800,000 floot loot becomes accessible to everyone.
Devs can choose then whether to build for OG loot or floot
76k minted at 100 AGLD per mint that’s 7.6M more tokens i.e. 9.5% inflation after just 5 days… if you drop 100 AGLD for all mLoot they will all be minted in a few days and we will end up with the same problem as before, as in no more bags for new comers.
I dont own Loot, but having an airdrop for mLoot holders is a terrible mistake.
Tons of mLoot were minted by bots that sniped the best bags because rarity was known in advance. Airdroping AGLD to mLoot Holders would be airdroping to them first.
AGLD has been listed by major exchanges, is barely a few days old, and like it was said before any dillution will bring serious repercution to the confidence in the token.
Lots of Loot holders dumped their AGLD airdrop when the thing launched. and it was 1/4 to 1/2 today’s price because nobody knew if it would catch on. mLoot holders would be getting an airdrop that’s more valuable per coin. you can’t compare 1 AGLD at the time it was airdroped to Loot holders to 1 AGLD now.
Any Airdrop with a decreasing emmission based on number of mints is just repeating the same scenario we have today. People that will mint mLoot in the future will say it is unfair they got such a tiny portion of AGLD compared to the ones that go to mint before them.
What’s the rush ? There is no need for an ingame currency right now. AGLD as no utility as of now. If mLoot holders don’t feel part of the community because they don’t have an AGLD airdrop, they will never feel part of the community and are here just for speculation. If they need AGLD to feel like belonging to the community, they can just buy it, and having mLoot should be enough.
Overall, having an airdrop of AGLD to mLooters would in my opinion result in opening Pandora’s Box. Very little to gain for the community, but a lot to lose.
snapshot mloot holders before x date lets say allocate N amount of AGLD tokens for early minters. After each day subtract certain amount from N. So for example first day minters get 1000 and after that 900 then 800 … so on .
For bots accounts with “rare” bag count greater than 10 or 20 will get one time reward. This way new users will get fair amount of airdrop. leachers and bots will get what they deserve.
A smaller portion of AGLD per mloot compared to loot is acceptable due to the fact that the AGLD price was unknown at the moment of the airdrop for loot holders.
The exact amount of AGLD airdrop can be decided by the community so that both stakeholders group are reconciled in the same LOOT ecosystem. If no fair treatment is given to mloot holders, we run the high risk of a fork which will have a negative impact on the whole ecosystem.
