Owner Bags

Bags in treasury. Make decision in future. Have a nice holiday :smile:

Bags should be given out as grants. We need to get even more awesome builders on board. Since Loot Bags went up in price so fast many talented game devs are sidelined. Helps with testing as well when the team has at least one bag

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I’d vote for bags in a treasury to fund future development, while making clear that this isn’t “governance” and that anyone can do what they want. This will become one of several Loot DAOs that will probably arise. The treasury also be used to fund other Loot DAOs that get going that are doing good work.

Burning them basically just makes the existing bags more rare and has a rich get richer effect. Randomly dropping them to existing holders does the same.

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While we’re here, would ask that everyone participate in the vote for LIP-1: Loot Improvement Proposals - Establish Framework and Guidelines - #40 by Hierux, which establishes a framework that might be necessary for a potential LIP-2 for this bag question, and could also act as an example framework for other DAOs that might come together around Loot in the future.

I don’t agree this more.

I wish there was an option for Dom to claim all of the owner bags personally and then burn the keys.

The way I see it, the code has always been clear that those bags are reserved for Dom. On top of that, Dom personally owning more bags bodes well for Loot in general as it keeps incentives tightly aligned. If he chooses to, Dom can personally donate those bags to different treasuries / multi-sigs as he sees fit. But I don’t think the community should get to vote on what Dom does with his own Loot bags.

So, strong advocate here for: Dom claims all of the owner bags personally, then renounces ownership of the contract. Please like this post if you support the same.

16 Likes

The only gap between Mloot and Loot is the prices, not the functions.

Easy money easy go

Agree with this. Dom having more skin in the game is a huge benefit for Loot.

1000 % I agree Hold the bags in a treasury.
@dom enjoy your honeymoon!

I would vote for @dom to keep the bags and sell into the market as he sees fit. Creators should get rewarded for their creation and it will keep @dom’s incentives aligned with the community’s.

5 Likes

Enjoy your honeymoon! Three alternatives all look fine to me, as long as it fair and well supported by the community.

As we are working on a protocol (Root Protocol) to turn the Loot bags into a yield product i think keeping the bags in treasury is the right thing to do as in the future treasury will not need to sell the bags to fund anything but just hold the bags and craft individual items + upgrade them in level.

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One thing that could be cool is to use these loots as reward for games.
I would be happy to setup my game so that it can receive a Loot and give it to the winner

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I agree holding the loot gives more optionality and burning them is short sided.

There will be a tension between Loot and mLoot holders until there are reasonable mechanisms for both holders to take part and feel co-ownership.

At this point I can imagine how frustrating/fatiguing it may feel for others to see so many derivatives and not really knowing which one to spend time/ETH on.

I think that can be smoothed over by staking some of the Loot (and by proxy, co-signing) something like Treasure.lol’s farming mechanisms. It’s the most reasonable mechanism I have seen to date for derivative items and currency (MAGIC).

Co-signing and developing with that as an trusted in-game currency, combined with them listing mLoot imo will do wonders for all this chatter about appeasing different holders.

I vote for Option 4 (3B?): Dom keeps all the bags or burns them.

Extra Loot will distract the community and become the focus of discussion. Easy money is not sustainable and does not incentivize innovation. On the surface, having an established treasury appears to have only an upside, when really it’s toxic and will lead to further division and power plays.

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I think burning the bags is a mistake. The same thing happened with mooncats and ponderware. There were still some genesis cats that got burned after a community vote. Jut think of the stuff we could do with 200 Loot, with an average price of 10 eth per loot assuming there are some rare ones there thats 2000 Eth we’re throwing to the fire. Lets be creative rather than just burn them.
Or find a way to randomly distribute them between Loot holders, even that is better as it will give a chance for smaller owners to get a bigger stake but most importantly it would create more hype around Loot. This could even be done at a longer period of time, for example lets say like 1 loot each week/month for the next 200 .

Give Dom all loot and AGLD. I think it’s time for creators to get paid.

2nd best option would be weekly contests for best creator project, not as a drop for loot/mloot owners. Could be art, music, whatever. Maybe tie in rewards for participation in voting. Stuff to build up community and interest. This project should be focused on the builders. Loot can become viral by being more inclusive and rewarding to others. Making Loot legendary.

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I like the idea of bags becoming prizes for community contributions or quests, but practically I worry that this would be complicated to implement. If we can figure out the logistics it’s a no brainer

Absolutely agree, amen to this

@dom! You’ve planted a priceless seed in the imaginations of a generation of Web3 builders. The people/friendships/careers that will trace back to “I started with Loot” will shape the next chapter of the internet — and I’d go so far as to say that the ripples will make a meaningful impact on global society.

So like Avichal said, creators should be rewarded for their inspiration and depth. Help set the precedent.

• Mint the bags
• Keep them for yourself
• Sell them into the open market, gift them, hold them - whatever you want
• If you do lock them in any sort of treasury…don’t lock them for us, lock them away for your future kids

:purple_heart:

3 Likes

Given timing on LIP-1 and my honeymoon starting tomorrow, it might make sense for this proposal to happen in October when I’ll actually be able execute it. Would give a bit more time to discuss ideas here as well.

As a reminder, please participate on the vote on LIP-1 :slight_smile:
https://snapshot.org/#/loot-dao.eth/proposal/QmbHUUX1GZQRS7eQ9v7cZQ7J9kpEC96KLhUtkrDrufBGCc

3 Likes