AGLD proposal to most benefit the LOOT ecosystem

I apologize for starting another thread, but I needed to do so in order to link my proposal to Will’s Twitter thread.

I believe that the value now represented by AGLD would be best spent on driving development for holders of LOOT (and also holders of mloot, who could also play in the games being built.)

The entire value of our LOOT ecosystem depends on the utility that our tokens represent. In the case, utility is gaming options. A list of fantasy weapons is well suited to that. So our goal in distributing AGLD should be aligned with that; it should be to create the most utility in our ecosystem.

I don’t believe that issuing and air-dropping additional AGLD to all of the many holders of mloot will do anything to further that goal. This is because I don’t believe that it is ideally suited to be a token of governance in a gaming ecosystem. We want to form a bigger community, and we want everyone to have engagement and a say in the direction we evolve. If we use AGLD to meter out our votes, we will be putting control of our future into the hands of those who buy the most, by being able to spend freely on gas money to mint the most tokens.

The best solution for governance is through proof-of-engagement as a voting mechanism. People who are engaged in our system will have the most weight behind our votes.

I propose that we create a 2nd monetary unit in order to accomplish this. Let’s call it ASLV for the sake of argument. Let me explain why this will work better. Here is the way it could play out:

A DAO is formed to run our finances. AGLD is issued by this DAO to developers of new games in our gaming ecosystem, who agree to use AGLD and ASLV as their economic standard, and who impress us with their efforts in order to win our votes. The votes are cast with ASLV. The AGLD serves as their payment to motivate them to create and to follow the guidelines of our standards. The ASLV is issued to them as well, but this ASLV is issued to players of their games for achieving certain in-game milestones. The ASLV is then used to vote in the DAO in order to determine the direction of development of the ecosystem.

This has the advantage of separating out the currency with which we can hire talent, and the token we use for governance. Furthermore, it creates a governance token that is issued to the people who are most engaged in the community, and helps to keep voting out of the hands of speculators who have no ties at all to what we are doing.

In order to jump start the process, ASLV will have to initially be issued to everyone across the board, so that they can participate in voting. It should be issued, if possible, with a weight that favors original holders, but yet still issued to everyone, whether they hold LOOT or MLOOT.

Please help me flesh this idea out a little more if you like where I am going with it. Thank you for your time.

16 Likes

I agree with this.

  • No AGLD inflation → incentives for builders
  • Inflationary game’s money → Incentives for players
6 Likes

My favorite proposal so far. Agld is already listed in most exchange and already a good store of value. Participation to the ecosystem via silver is superb. I like.

3 Likes

I think this proposal makes the most sense so far!

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Why not just use AGLD as the currency and voting mechanism to make it easy?

Alternatively why not AGLD as currency and Loot NFTs for DAO voting?

3 Likes

Any inflation in AGLD is a bad idea. It has already been listed on major exchanges such as FTX and OkeX, any expansion of the supply at this point would be unfair at this point and would be akin to a rug pull and would detriment the holders who bought into $AGLD.

2 Likes

I don’t think it makes sense for the governance token and the development budget to be the same thing. They have entirely different purposes that are served by different mechanisms. A governance token should be distributed widely, be highly inflationary, and be given to people who are active and will use it readily. A token that is going to be used to pay devs should be of high value to maximize our returns. You wouldn’t want high inflation and you would have pressure not to use it to vote if it is a store of value.

You have to align the incentives with how you want it to be used.

We also want to bring more people into the decision making process, which means extending voting rights on favored projects beyond the set of loot holders to include mloot holders that are actively participating. So we want a governance token we can freely allow them to win, and to even be able to issue them some as seed money to get this started, without destroying the value of the AGLD that we can use to hire talent.

I don’t like loot as the governance token because it can easily be held in quantity by speculators who aren’t putting any time into what we’re trying to build. That’s why p2e is the best possible distribution policy for governance.

Please see vitalik’s blog post for better expressed thoughts on my aversion to pure coin based voting: Moving beyond coin voting governance

His notion about proof of engagement is exactly what I’m trying to achieve in this unique use case

2 Likes

It occurred to me that the governance token could also be set to expire after 6 months to make it difficult to accumulate and hoard to sway big votes. It would incentivize holders to vote–use it or lose it. The ability to do something like that is another advantage to separating the governance token from the treasury.

2 Likes

This should be the best proposal so far, governance token should be sth with large quantities and people can use freely, early adopters are part of the loot community so we should not hurts their interest by any sense. Multi token mode is not a bad idea and it will not necessarily to fork the communities, actually it is very common in cypto, just like Axies infinty has $AXS and $SLP, it works perfectly for different purpose.

Hence, $ASLV is the best idea

2 Likes

Multi Token mode could works perfectly in crypto, its mature and common. $ALGD be the store of value and $ASLV be the governance and usage token, also its arrogant to call the early adopter as speculators, we should not hurt their interest by any sense. If do, that fork the community

good idea,i think you are right!

It is imperative to the purity of LOOT and all-derivatives that AGLD is not tampered with!

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 with…
AGLD is the currency basis of that Force!

Buy screwing with AGLD you effectively debase the currency of the decentralization force that is LOOT.

I also want to point out that people who work to earn their governance tokens by participating in the games of the LOOT world are going to be less likely to sell their tokens on the open market. These are going to, by nature, be people who are most involved in the world and who are gaining the most benefits from improving upon the world. I wouldn’t want to exclude people who are more interested in building than playing though; those people are very important, too. I think we would want to allow the team who develops a successful game to keep some of the ASLV for themselves, rather than compelling them to distribute all of it to the players of their games. This way the creators also have voting power–maybe even more voting power than the average game player.

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While I understand the appeal of proof of work/engagement in order to distribute AGLD/ASLV to mloot holders (i.e. slowly), I think it’s worth keeping in mind that there are limited “quests” or games to be played by the wider audience. This forum and discussion IS the game! :slightly_smiling_face: Now there are just more players. :popcorn:

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That’s true right now. It won’t be true in the future. Don’t forget what loot is at its core, a list of items for a fantasy style game. Not a list of attributes for an account on a forum. It is built ultimately for gaming.

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Hi Guys,

This topic looks to have a large overlap with another regarding AGLD. I am going to close this discussion for now and refer you to the other conversation linked below. If you have any issue with this feel free to message me directly on here or discord : Calcutator+1#1007.

Thanks all for your input and assistance to the community!

Hi all,

Reopened topic as per request. Apologies for any inconvenience caused!