"200 Loot to rule them all, 200 loot to find them,
200 Loot to bring them all, and in the darkness bind them."
Loot’s greatest power is its neutrality. Eight words on black text have captured the imagination of hundreds of crypto’s best builders. Anyone can project on to loot their own vision, with no one picking winners and losers.
Loot governance must be structured to allow for this same creative neutrality. We must prevent the 200 loot from creating an all powerful central government and instead create a neutral lootiverse of many governments to avoid consolidation of power.
Splitting the bags between several factions allow for different groups to experiment with their own governance systems for the lootiverse, and empowering many more members of the community.
The problem with creating a single governance system is it naturally gives people less agency. People are initially very excited to contribute, but because any decision must represent the interests of such a large group of people it ends up being a game of continual compromise that grinds down engagement and enthusiasm, until there is only a small group left.
By creating a diversity of governments, people can naturally gravitate to one that best reflects their values allowing for much more productive decision making.
No, it creates more surface area for collaboration. Almost every MMO has factions (WoW, EVE Online) its an important gamification design that accelerates engagement.
No, it will encourage it. Rivalry (esp. in politics) is a powerful way to motivate participation. It also gives communities a yard stick to measure progress, how is our participation vs theirs.
Having multiple factions makes it much less likely for the lootiverse to get captured. Having the loot in a single government system makes it much easier to get captured by whales and VC. Diversifying governance decreases the risk of bad actors substantially.
If this proposal passes there will be a 3 week period for people to nominate and vote on factions.
Anyone can create a faction nomination proposal which should include the following:
Proposal Name: Faction Nomination: <Faction Name>
Faction Name - Name of the faction
Faction Banner - An emoji that represents your faction
Faction DAO - The address that will receive your faction’s loot
Faction Governance - How your faction will initially be set up and make decisions (this can change later) ex. We will use a multi sig with these signers (0xa, 0xb…) decisions will be made through NFT majority vote setup on snapshot.
At the end of the 3 week period any proposal with over 1k for votes will be recognized as a loot faction and the 200 bags will be evenly split and sent to the faction DAO addresses. If all 200 loot cannot be split evenly the remainder will be burned.