Proposal : New Token Generation for Sustainability accredited by Loot DAO

Community & Ecosystem Proposals
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#1

Summary
We should issue New Token(but Ticker is same, $AGLD). And then the value of Loot and $Token will continue to rise.

Abstract
New Token($AGLD) will be officially token as a Governance Token in Loot. This Token will be linked with Loot.

Motivation
The Loot ecosystem has been becoming increasingly fragmented. In particular, one of the reasons is the relationship between Loot and Original Token($AGLD). Currently, there is a serious separation between those who hold the Loot and those held by Original Token($AGLD).

Specification

  1. Issuing new token($AGLD) derived from Loot.
  • This will be considered as a governance token for Loot accredited by Loot Community with Official Voting.
  1. The token distribution is as follows.
  • 20% of tokens will be able to minted on the day of initial token distribution
  • 80% of tokens will be able to minted evenly over 36 months.
  1. Allocation for mLoot Holders
    Loot : mLoot(init.) = 8,000 : 1,308,004
  • mLoot Holders can get 0.6079% of Total Tokens = (8,000/1,316,005)*100%
  • Loot Holders can get 99.3921% of Total Tokens = (1,308,004/1,316,005)*100%
    but for ecosystem expansion, Loot Holder will share allocation by 5%.
  • Loot : 95%, mLoot : 5%
  1. Total Distribution
  • Total Amount of $AGLD : 80,000,000
  • moreLoot Holder : 4,000,000 AGLD (5%) ; 1 mLoot gets 3.05 AGLD for 36months
  • Loot Holder : 76,000,000 AGLD (95%) ; 1 Loot gets 9,500 AGLD for 36months

In this way, the demand for Loot and mLoot will steadily increase, and the relationship between Loot and new Token($AGLD) will become clear.

We can anticipate that new Token($AGLD) can serve as a governance token for Loot ecosystem in the long term.

1 Like
#2

Appreciate the effort to have a discussion here but how would this not recreate the same problem AGLD has? Many of us, myself included, don’t want an external token to have governance rights over Loot, because inevitably there will be a divergence between the holders of Loot bags and AGLD or any external token. If this token were non transferable then some of us may open up to it having governance rights, but in that case, what use does it serve?

That being said I still think an external token like AGLD can and will be useful and valuable, it just should not have any governance rights over Loot.

Hard pass from me.