After scrolling through multiple threads, we agree on the common points:
We want to include mLoot owner in the loot community by incentivizing them to cover up the gas costs.
We want the incentivize in terms of $AGLD only so as to keep a single governance token.
We want to make $AGLD inflationary in long term to act as a practical game currency.
Here is my proposal on how to incentivize the mLoot owners:
The incentives should be done in exponentially decreasing fashion from the time of mint of loot bag. Minted loot bags today will get more incentives than minted loot bag yesterday. This will be helpful in controlling the supply shock created by mLoots and will give the early adopters advantage.
For eg. we can very well start with incentivizing the first day mints by 1000 AGLD and next day mints to 500 AGLD. Its just a concept and the exact formula can be developed later on.
Better would be to replace time with count of mints happened before and have something like?
1st bag mint - 1000 AGLD
2nd bag mint - 999 AGLD
3rd bag mint - 998 AGLD
Benefits of the structure:
people will be encouraged to join the loot ecosytem by minting mloot early.
Good synergy between loot adopters and early mLoot adopters
I think you mean less instead of more, right? In any case, I agree with the spirit of your idea. I think mLoot owners need to receive some form of AGLD in a deflationary way
Mentioned my thoughts on another thread but I thought it was relevant to what you suggested, so here it is:
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.
Looks great,thanks for putting up the numbers. Some thoughts,
130K is a big number for a loot batch, we can consider putting inflation in brackets for 5k maybe considering ~ 50K items are showing up on the open sea and granting users more $AGLD and benefiting the initial users.
Over the time minting of mloot will not be profitable for the sole purpose of getting AGLD rewards. Given AGLD increases, this would result in increasing the prices of already minted loots and making an “exchange” more favorable than a new mint ? This would increase the health of the system ?
100 is a small number compared to 10k for initial loot holders and create a lot of disparity between loot and early mloot holders.
Hypothetically, lets say we reward initial mloot holders in batches of 5K and with 2k AGLD per bag and then decreasing by a factor of 0.5:
< 5k - 2k each loot bag
< 10k - 1k
< 15k - 500
< 20k - 250
…
the total AGLD supplied would for mloot holders would be 20M making the inflation to be 25 percent overall ?
I dont own Loot, but having an airdrop for mLoot holders is a terrible mistake.
Tons of mLoot were minted by bots that sniped the best bags because rarity was known in advance. Airdroping AGLD to mLoot Holders would be airdroping to them first.
AGLD has been listed by major exchanges, is barely a few days old, and like it was said before any dillution will bring serious repercution to the confidence in the token.
Lots of Loot holders dumped their AGLD airdrop when the thing launched. and it was 1/4 to 1/2 today’s price because nobody knew if it would catch on. mLoot holders would be getting an airdrop that’s more valuable per coin. you can’t compare 1 AGLD at the time it was airdroped to Loot holders to 1 AGLD now.
Any Airdrop with a decreasing emmission based on number of mints is just repeating the same scenario we have today. People that will mint mLoot in the future will say it is unfair they got such a tiny portion of AGLD compared to the ones that go to mint before them.
What’s the rush ? There is no need for an ingame currency right now. AGLD as no utility as of now. If mLoot holders don’t feel part of the community because they don’t have an AGLD airdrop, they will never feel part of the community and are here just for speculation. If they need AGLD to feel like belonging to the community, they can just buy it, and having mLoot should be enough.
Overall, having an airdrop of AGLD to mLooters would in my opinion result in opening Pandora’s Box. Very little to gain for the community, but a lot to lose.
