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)!
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