AGLD Design Proposal

Yea lets do this as proposed. Vote asap. Anything else can be voted on later.

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Brilliant proposal! I would like to propose a wrinkle that relates to the following statements in the original outline:

  • I propose that we airdrop AGLD to all LOOTverse members
  • Everyone gets AGLD to help start in the LOOTverse

I think the proposal under the current format doesn’t uphold the quoted ideologies above because it alienates the Looters who joined after the AGLD airdrop but before the implementation of mLoot. This subset will not receive any AGLD airdrop or have any AGLD to start in the LOOTverse without needing to buy on the secondary.

I propose that instead of airdropping AGLD to just mLooters, airdrop AGLD to everyone, including current Loot holders.

Same amount of inflation for AGLD holders, but more broad-reaching.

50-100 AGLD airdrop for everyone.

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Pay to win games suck, i agree. mloot being the same generative code is a great move!

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Current timeline:

Loot contract is deployed 8k bags are minted
10k AGLD is airdropped to loot bag minters/holders.

Bunch of spin-off projects are created, and people argue that it will be impossible to scale ‘the game’ if only 8k bags exist.

mLoot contract is deployed to allow for anyone with an ETH address to join the loot metaverse.

There is no such thing as mLooters, or mLoot community, or whatever group. Just loot.

If people want to have a say in its governance they should buy a loot bag or some AGLD.

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Are you confusing mLoot with Synthetic Loot? It sure seems like mLoot is going to be a pretty official part of the project to me. And therefore the community.

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可以回购20%或30%的AGLD质押生成mAGLD,然后将mAGLD发行给mloot持有者,这样既不会造成AGLD通胀,也不会损害现有投资者的利益,工作得很好。激励 mloot 持有者。我们设置了 AGLD 和 mAGLD 的交换比例,使得 AGLD=AXS,mAGLD=SLP。

Translation:
You can repurchase 20% or 30% of the AGLD pledge to generate a mAGLD, and then issue the mAGLD to the holders of mloot, so that it will neither cause AGLD inflation nor harm the interests of existing investors, and it works very well. Incentivize mloot holders. We set the exchange ratio between AGLD and mAGLD so that AGLD=AXS and mAGLD=SLP.

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They are the same thing. https://twitter.com/dhof/status/1434180216444923923

Yes. That’s the point. But we shouldn’t try to allow for the entire world to have a say in the governance of the loot metaverse, without some sort of stake/cost. That makes no sense.

mLoot allows anyone to enjoy the loot metaverse.

loot bags and AGLD are for governance.

They are the same community, OG bags are essentially early adopters for a massive ecosystem. I think the APRs vs cost to buy should match…ie OG bags get a much higher AGLD allocation and mLOOT gets a smaller one (intial cost is Free)

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Re-posting my suggestion on another thread about AGLD distribution (here: Every new player should have the same fighting chance - #7 by orangemarmelada) :

How do we go about making this fair for new players? I say give everyone the same fighting change, in time. And make that time worthwhile for them.

I’ve got one idea that works in two parts. It needs tweaking but its worth a shot:

  • Part 1: We introduce a tiered system for AGLD. The fork we introduce of AGLD creates an inflationary currency (say ASLV - Adventurers Silver) that follows the mLoot SC creation events.

100 ASLV for each mLoot owner, ~131M total supply. And ~25m new ASLV every year after that for new mLoot owners.

Slowing down sybil attacks: If an address already owns a Loot along with its mLoot, it can’t mint ASLV. If the wallet has several mLoot, it can only mint once.
Yes, yes, I know anyone can transfer their mLoots to virgin addresses and still claim ASLV that way. But the purpose is not to make it impossible (which arguably is impossible) to stop the same people from minting ASLV through different addresses, it is to make it a hassle for people to game the system.
More hassle introduced in part 2…

  • Part 2: A new round of AGLD (actual AGLD) is minted and put in a treasury. Say 100m now and 25m at the yearly mLoot issuance event.

That treasury distributes AGLD to mLoot holders that participate in mLoot exclusive game events such as, fighting world bosses that can be attacked only by mLoot owning addresses. On top of that those mLoot owners will also earn unique Boss Loot or Event Loot from the events they participate in (see for example On Chain World Boss (for Adventurers))

Same Sybil rules apply to mLoot events as for minting ASLV i.e mLoot exclusive events are only accessible to single mLoot holding (+ non-Loot holding) addresses. Once an address associated to a specific mLoot # reaches 5k AGLD (received from the AGLD Treasury), any address owning that specific mLoot # cannot participate in mLoot exclusive events anymore. Instead they can only participate to world events i.e events accessible to both Loot and mLoot owners.

Think of these events as a way of onboarding new players in a way thats fun, lucrative and gives a sense of “grind to get up to speed”. All good MMORPGs I’ve played have that. Newcomers will start creating groups and guilds to help each other in those exclusive events and farm events together until they can’t anymore.

This way AGLD does not get diluted in one single big event but slowly overtime and for the purpose of rewarding and recognising the participation of active new players and mLoot owners. I’d argue the value of AGLD would only increase because of that because it isn’t just sent to random addresses that own a mLoot, its sent and owned by addresses that have shown a willingness to actual play and participate to the game.

Quick last note regarding Part 1: we could also consider minting more than ~131M + 25m/y ASLV and instead add an extra 10% supply to each minting event that is dedicated to a treasury that feeds new mLoot owners the same way that the AGLD treasury does, ie. for active participation in mLoot game events.

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Staking mLoot to distribute AGLD rewards need gas from stakers & Eth is costing; good strategy would be use TIME.

Fixed the duration of rewards distribution like 30days, 60 & so on

Older the mLoot get, It become eligible for the upcoming airdrop; so need for staker to spend any gas fee.

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Discussing an in-game currency before having a governance model in place is allowing people with negative motives to steer conversations in unproductive ways.

mLoot is just synthetic loot. It’s a way for anyone at any time to enjoy the game. Anyone can mint an mLoot bag whenever they want. That’s the point. There isn’t a ‘community’ to welcome there.

AGLD and loot should form the governance and DAO and allow for some structure to take place, so that people can be incentivised to build for all.

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ASLV is a good idea,
We can link AGLD ASLV, create new ASLV by pledge or destroy part of AGLD, and set their exchange ratio

ATM, there have been 34k mLOOT minted across ~7k holders. Assuming avg 0.03 ETH for gas per claim, that’s ~1k ETH burned so far into the contract. At current AGLD/ETH spot, that’s around 850k AGLD equivalent.

If we were to split across 7k holders, that’d be ~121 AGLD/holder.
If we were to split across mLOOTs, that’d be 25 AGLD/mLOOT.

Just some numbers to help the economic discussion here, if there’s an interest in a consumed gas basis for claims. The logic is that it could improve adoption if there was corresponding AGLD claim for mLOOT claim that subsidized for gas fees, but not so much as to make it attractive to sybil attack mLOOT for AGLD claims. It should leave the user at a slight cost but not obscene.

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This makes the most sense

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If we choose to inflate the supply put it into the treasury and those that participate in the game world, building etc can be rewarded/farm the token.

Also add deflationary mechanism within the universe also.

Want to reiterate again my hatred of the idea of creating new currencies specifically for mLoot. It will only further drive a wedge between the majority of the community and Loot bag holders and further confuse people.

People could barely handle the idea of minted Synth Loot. Adding a second currency for mLoot players right now is a horrible idea for the Loot project. It will only hurt us, kill the hype, create confusion, and drive division. That is the last thing we need right now.

We need to bring the community together quickly and move forward towards building.

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man I disagree with you on so many points i dont know where to start

I agree wholeheartedly with everything except possibly the use as governance tokens. It should probably be spent on development or for in-game economy

How about we start by clarifying the difference between synthetic loot and mLoot in your eyes?

mloot was the ticket for the average person to be able to play our games in our ecosystem. That’s a necessary addition to keep things robust and growing. There is no reason to also issue a million outsiders free money that could better be spent on development. They don’t need it. It has no purpose to them. Handing them a check isn’t going to encourage them to play in our games. Presumably they’re already interested in playing in our games; that’s why they bought the mloot. Either that, or they’re just speculators, in which case we also don’t want to give them money. We should send the money to a treasury, and then vote with a DAO on which projects to grant it to, and let those projects distribute it via play-to-earn mechanisms.

By maintaining the value of AGLD, and by issuing it to developers who agree to use it as their in-game currency, we preserve its use as a currency and we advance our agenda of building out an ecosystem of playable games based off of LOOT.

The counter-argument is that someone will create a new currency, and that issuing them money is going to stop that from happening or stop people from valuing their new currency. But deflating our own currency isn’t going to make someone else’s knock-off less valuable. In fact, it will make it MORE valuable in comparison to ours than it would have been otherwise.

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