[DISCUSSION] Proposal: loot treasury

Looks like the first proposal will lead to a yes. See here: Snapshot

That means: loot transactions will likely soon generate fees. So let’s start to discuss who will control those fees, that is, who will control the loot treasury.

It’s a hot topic in the discord right now; and this forum discussion aims to allow for a more in-depth debate. Currently, two options are being discussed: AGLD-owned treasury, Loot-owned treasure or a mix of both.

My take:

The fees should be converted to ETH and go into a treasury controlled by OG loot owners.

Why? Because I envision an expanded loot universe where Loot holders will support, integrate and reward those derivatives, developers and players that add lasting value to the “lootverse”. For that to become a reality, loot holders need a treasury.

Moreover, I don’t like the idea to let AGLD-holders control the treasury for three reasons (even though I hold AGLD as well):

First, already 10% of AGLD sits on Huobi and another 10-15% on other CEXes (and this will double or triple after an inevitable Binance & Coinbase listing). Not good for governance!

Second, we shouldn’t pick a winner among derivatives in week 2. After all, AGLD is only one derivative among many and as of now, how many derivatives are out there? 10, 20 or even more? Why does AGLD deserve a special treatment? If you say: because it’s an ERC20; then I’d say: so what? Loot could integrate 10+ ERC20s. Let’s not choose the winner in week 2…

Third, we can’t say whether AGLD will still have Loot’s interest in mind 2+ years from now. We can, however, safely say that Loot will forever have Loot’s interest in mind.

Happy to hear your thoughts (in particular opposing ones)!



Fully in agreement and will put my 6 bags behind this

1 Like

Fully agree. The incentives of properly managing Loot’s Treasury align more with Loot Holders than with random AGLD holders who may or may not care about Loot or it’s ecosystem at all, and most likely just want AGLD to pump.


Everyone that minted Loot and held, received AGLD.

The distribution was fair and the token itself was built inside the community’s discord server for the purpose of acting as the governance token.

Please see the snapshots that have already been taken all of which support AGLD as the governance token. Snapshot

1 Like

Please see the snapshots that have already been taken all of which support AGLD as the governance token

A snapshot vote that has been open for 5 hours and captured only ~120 responses (barely 1.5% of existing Loot) is not sufficient to move forward with such a large design decision for our community. Please, I urge the community to be measured and intentional when evaluating the impact of these votes.

For anyone interested, please see my proposal here for implementing a consistent “Loot Improvement Proposal” framework: Loot Improvement Proposals - Establish Framework and Guidelines


of course, we need more voting. Tell everyone to vote on snapshots!

I was referencing mainly this vote: Snapshot

Participation was at around 60% at the time of vote closing.

Would you care to explain what that means (voting rights for what?)?

1 Like