can dev make some clear statement that people wont get freak out they are selling in loss just because we are losing the trust and they are in fear its not anyway good for project. and atlest expalin to everyone what is difference btw loot and mloot if both came start to work together how mloot nfts are going to be different than loot ones becsue mloot nfts they are same but mythic and rare its making confusion in people and they are selling in loss becasue dev are not making this clear first. in this moment if we are paying 20 or 10 eth per 1 nft than in other side they are just minting those like hell.
thanks
there is no âdevâ, the community decides the value of each
2 Likes
Isnât this a very bad idea given that there are over 1 million mLoot that can be claimed, and if each one get an airdrop of even just 100 AGLD, thatâs not only over 100m more AGLD, bots can literally mint these and make a profit because it only costs gas to mint them, and at the current market price of around $4 per AGLD, thatâs a free $400 - gas cost. That would be a disaster.
2 Likes
since this was a failed launch where rarity does not matter - I say burn an mLoot, get some $AGLD for distribution
I disagree. I believe AGLD should just benefit Loot holders and the Loot ecosystem builders and players. By players and builders, Iâm referring specifically to derivative builders like realms and islands - those devs should get AGLD for their efforts.
2 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). I support this
3 Likes
AGLD airdrop should at least cover gas fees in my opinion ⌠Otherwise itâs a net loss
To maintain the purity of LOOT and all-derivatives within AGLD should not be 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 withâŚ
AGLD is the currency of that Force!
Buy screwing with AGLD you effectively debase the currency of the decentralization force that is LOOT.
Dont LOOT our progress by tampering with AGLD,
- let it flourish and bring even more fire and attention to LOOT!
2 Likes
mLoot was handled by Dom in such a rushed and ill thought way. It is already hurting the community.
We donât need to compound that instability with an inflating AGLD.
Let AGLD work as the governance token and the Loot community to vote.
Buy a time at least for the gaming side to grow and flourish.
Donât kill the Loot community.
1 Like
I think that not giving AGDL to the new members is killing the community. mLoot is the biggest chunk of the community and if they donât get on board, whatever we build will be dead before launch
3 Likes
holder does not equal to community
community is bound together with a belief
community builds only when they have belief in heart
that belief is bound to the original loot and hence the original agld
we are all for the derivatives but not diluting that original design
diluting the original design is not the way the grow the community
1 Like
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.
Table as follow:
| Loot | AGLD per Loot | Total AGLD from Loot | |
|---|---|---|---|
| 8,000.00 | 10,000.00 | 80,000,000.00 | |
| mLoot | AGLD per Loot | Total AGLD from mLoot | Inflation |
| 130,000.00 | 100.00 | 13,000,000.00 | 16% |
| 130,000.00 | 50.00 | 6,500,000.00 | 8% |
| 130,000.00 | 25.00 | 3,250,000.00 | 4% |
| 130,000.00 | 12.50 | 1,625,000.00 | 2% |
| 130,000.00 | 6.25 | 812,500.00 | 1% |
| 130,000.00 | 3.13 | 406,250.00 | 1% |
| 130,000.00 | 1.56 | 203,125.00 | 0% |
| 130,000.00 | 0.78 | 101,562.50 | 0% |
| 130,000.00 | 0.39 | 50,781.25 | 0% |
| 130,000.00 | 0.20 | 25,390.63 | 0% |
| Total Coin Inflation | 25,974,609.38 | 32% |
2 Likes
Voting No for any inflation on AGLD
3 Likes
Why? Are there proposals that would be better?
Itâs 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 letâs stop this concern trolling, and move on with embracing AGLD as our governance token.
1 Like
Hi there,
I suggest a simple solution:
- 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 thatâs 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
Disclaimer: mLOOT and $AGDL hodler
3 Likes
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 Iâve seen there has been no discussion of how we actually decide which of these proposals win since we have no DAO yet.
Weâve all heard many proposals and ideas already. Most people already have a general idea of how they want to vote. Now what?
1 Like
Every derivative needs to branch out and have itâs 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 itâs own governance process and itâs own roadmap. AGLD can form itâs own DAO to govern tokenomics and eventually itâs treasury to form partnerships across the Loot metaverse and be integrated as Lootâs in-game Gold Currency. It will also help fund different projects and work with Lootâs DAO to do so.
- Loot is the center of the metaverse spiderweb, and will have itâs own DAO to govern the royalty fees derived from OpenSea. The DAOâs 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 AGLDâs 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 Lootâs treasury. Every derivative project needs to fend for itself (with help and funding from both Lootâs Treasury and AGLDâs Treasury), and try to form partnerships and integrate different derivative projects in Lootâs 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 Lootâs 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 âAGLD as a Distinct Entity (DAO)â
3 Likes
I agree with Felix and have yet to hear any thought out reasons why we should do anything differently
1 Like