AGLD Design Proposal

Tokens
#63

The moment you assign AGLD to the unclaimed mLoot they’ll get sniped by bots.
How is this giving new looters ‘a fighting chance’? How does this achieve your desired goal? We still have no real use for AGLD, and its role in the ecosystem is far from cemented, hell the role of anything in this ecosystem is far from cemented, it’s been 8 days.

We should have a sort of ‘Proof of Work’ that mints additional AGLD, if that is to be the predominant currency of the realm. Insofar as there are games, approved in game activities could mint new AGLD. Other ways could be governance participation, new creations. There can be activities like re-rolling certain loot derivatives, or crafting, or whatever a creative person comes up with that will require you to spend AGLD. The spent AGLD is then deposited into a contract that will dispense AGLD to those performing the PoW.

Also just for the sake of timestamping this idea, I guarantee that if there is an additional airdrop or a fork, we will soon have another faction demanding the same thing again in the name of ‘fairness’.

3 Likes
#64

then this is indicative of your understanding, mLoot contains way more rare traits due to the sheer number of mLoot there are. The top 1000 mLoots have far ‘rarer’ traits than the 8000 original Loots do.

Insofar as these traits already have value, mLooters are way ahead of looters. Mint any top 4000 item and you’ll see what I’m talking about.

1 Like
#65

I disagree. AGLD is the governance token for Loot and Loot only. If you want airdrop to the 1.3 m mLoot, get your mAGLD.

3 Likes
#66

What good do you think will come of splitting the currencies and the community in this way?

#67

sorry i am not expert but its seems like when mloot contract made we dinnt use our brain this think it shouldn’t happnd . anyway
i think better to go with this dude idea @HashGod and @jkol is also right

#68

More on this idea, if you don’t understand how the rarity of traits work (which you can easily grasp from Dom’s contract, im not a real dev and it was very easy to grasp) then give this a look.

This is a ~900 rarity mLoot

image

These traits would have made it a top ~20 or even top 5 Loot.

Here’s the function that decides how your traits come out;

function pluck(uint256 tokenId, string memory keyPrefix, string[] memory sourceArray) internal view returns (string memory) {
    uint256 rand = random(string(abi.encodePacked(keyPrefix, toString(tokenId))));
    string memory output = sourceArray[rand % sourceArray.length];
    uint256 greatness = rand % 21;
    if (greatness > 14) {
        output = string(abi.encodePacked(output, " ", suffixes[rand % suffixes.length]));
    }
    if (greatness >= 19) {
        string[2] memory name;
        name[0] = namePrefixes[rand % namePrefixes.length];
        name[1] = nameSuffixes[rand % nameSuffixes.length];
        if (greatness == 19) {
            output = string(abi.encodePacked('"', name[0], ' ', name[1], '" ', output));
        } else {
            output = string(abi.encodePacked('"', name[0], ' ', name[1], '" ', output, " +1"));
        }
    }
    return output;
}

You don’t need to be a genius to figure out that the more times this function is ran, the more likely a very ‘rare’ piece will be minted.

#69

Understandable that you would want AGLD to LOOT hodlers but at the same time we have already recieved 10k coins, insted of wasting the inflation budget on already well paid BAG Hodlers isnt it better to allocate those funds somewhere else instead?

#70

Are you saying AGLD buyers are supposed to be paying for mLOOT minting gas?

#71

Love the sentiment there!

#72

It’s not splitting. Axie Infinity has a two token system too. AGLD should be the gov/SOV and there should be a separate one for games/farming that is inflationary to bring in new players

1 Like
#73

No, I’m saying mLOOT minting gas can be used as an input to determine the amount of AGLD that can be claimed to discourage bots from creating hyperinflation.

#74

Please check the text, i added an edit based on broad consensus in the proposal in bold below the main body. Its my proposal and givenm the discussion i have personally been convinced that 5-10 is a little low.

5-10 has been left in the post to avoid any consufsion about my original posistion and both have been clearly seperated. I did not intend in any way to manipulate the discussion

1 Like
#75

Airdropping AGLD to mLoot holders might ruin the purpose of mLoot in my opinion. If the airdrop amount is more than minting+claiming-mLoot floor, you have the economic incentive to mint mLoot just to claim the airdrop and dump it with mLoot afterwards. If the airdrop amount is less than claim costs, an mLoot owner has a good reason to not claim the airdrop unless he/she really wants to vote.

This issue is a little more complicated than it looks because even if the decided airdrop amount is in the sweet spot now (high enough so mLoot holders claim, low enough to not attract bots), any price change in the future might lead to one of the options I mentioned above.

The other thing to consider is that mLoot holders will have a lot less voting power compared to OG Loot holders (individually) even if they might represent the big chunk of Loot community in the future.

4 Likes
#76

I think aGLD makes the most sense as a currency (gold). Loot itself can be considered a governance token. Policies that are the best for a currency are not necessarily the best for governance and vice versa.

#77

Imo, no more AGLD inflation until we figure out a usecase and governence process, then we only inflate supply to reward play2earn gamers or build a treasury.

There is absolutely no reason to inflate supply to give to mLoot holders when there is yet to be a usecase for AGLD. mLoot holders can now use their free mLoot mint to play games and EARN AGLD.

We need to stay firm on this or AGLD will hyperinflate to 0.

6 Likes
#78

Good point, leave everything as is until necessary

#79

I added a proposal over here: A holistic proposal for AGLD - solve for mLoot and future proof the community - #2 by vishal444

I worry that if we just try to solve the mLoot situation today we will not have the tools to address the next conversation. I think we first need to figure out:

  • what is the role of AGLD and how much AGLD is the community comfortable creating
  • what is the process by which a DAO figures out how much AGLD to create and how to use it

Without those two questions figured out first, we will just keep having this conversation about every project that gets a little traction

3 Likes
#80

This seems like a really important comment.

#82

Bruh, it’s obvious that people just want airdrops that they missed and we should not give in to them. It does absolutely nothing to benefit Loot’s ecosystem.

2 Likes
#83

Yeah we could also just not include mLOOT in the core ecosystem. Just because its there doesn’t mean it has to be used

3 Likes