I completely agree with you!
Nice to hear this from you @coderdan
Hey Superrisk, this is a Superidea! Love it!
I not convinced yet, as only the 5 biggest gotchi’s holder would represent around 25% of the voting power. I feel like we need a more democratic solution. I see it as a bit of improvement over 1GHST = 1 VOTE, but It would still be really related to the money spent.
I agree that not every personne should have the same voting power, but I think we should bind it with something not related with money at all.
I know that even in this project whales exist, but don’t misunderstand my words. I mean that people who own an aavegotchi can partecipate in the DAO, I’ve not talked about people with a lot of GHST. This is another problem that influences the governance. In my opinion it is however right that a person that own 1000 GHST is less important that another that has 10 GHST. This is part of the game.
@superrisk I’m curious to know what you think about that :
I partially agree with this sentence. I’m certain not a whale in aavegotchi and so I can feel the danger of a governance driven only by GHST whales. Against this I propose a voting weight that varies according to a logarithmic curve. This curve affects only the voting power resulting from the GHST in the wallet.
For example, Voting power = # Aavegotchi * 100 + log(# GHST in the wallet)
This formula (very simple and created at this moment) gives to the gotchis owner a quite important voting power.
I think this is a cool idea! As far as whale concerns, do we have good data on that? I’d have assumed that many ‘whales,’ if they snapped up a large proportion of portals, might not have even opened them, or might not have bothered to summon all of them?
I totally understand the sentiment here. Lots of people have spent large amounts of GHST (relatively to themselves, and also in aggregate) on Aavegotchis and wearables.
I would go even further and say that equipped wearables should also be added to the voting power of an Aavegotchi. What do you guys think?
Yes, but how would you accurately price them. I guess we could just give each Gotchi a specific amount of voting power and do the same for each rarity type of wearable. Of course this wouldn’t capture all the GHST spent on them since price varies a lot between different gotchis and wearables.
The obvious play is just to take mall prices.
What about raffle wearables? Also godlikes are going for 40-50k+ GHST on the baazaar right now. Additionally some wearables are worth more than their brothers of the same rarity, for example the Sergey Beard. But yeah it’s the only option that’s realistic to be honest.
Yeah this is what I was thinking. It’s really the “base” price, everything else is speculative and hard to calculate properly.
Better than nothing I guess
But yeah seems like the only viable option.
The problem of considering the amount of GHST that a user has spent is this.
Suppose that now I own 1000 GHST and no gotchi, nor wearables and so on. I just own 1000 GHST.
Another user has spent 100 GHST to buy a portal and now he has listed it for 1000 GHST. 1000 GHST is cool for me so I buy the portal and summon the Aavegotchi.
If we consider the solution that proposes to consider the amount of GHST spent we will be in this situation:
- I own a gotchi worth (based on the sale price) 1000 GHST.
- The other users, who sold the portal now own 1000 GHST.
The total GHST circulation is 1000 GHST, but for the voting power is like the circulation is 2000 GHST.
So this solution is too simple to catch this problem…
We have to try again and find another better one
I think what Dan is proposing is just taking the base price of everything.
- Portal = 100 GHST
- Commons = 5 GHST
- Uncommons = 10 GHST
- Rare = 100 GHST
- Legendaries = 300 GHST
- Mythicals = 2’000 GHST
- Godlikes = 10’000 GHST
This still isn’t perfect because they’re being sold for much higher but it’s the only reliable metric we have.
I put this idea up on the DAO which didn’t didn’t really get any play: Cocoon (AavegotchiDAO 1.5) dual voting system. Maybe this proposal better captures the imagination. I think the trick is to balance Gotchi citizenship engagement with GHST investment. Those folks providing liquidity to the project, regardless of their summoned Gotchi holdings, have a right to vote on issues affecting GHST tokenomics. On matters pertaining to Gotchi gameplay and ecosystem expansion, including Haunts, one’s investment in Gotchis should take precedence.
Having formulae that attempt to convert Gotchi value into GHST for the purpose of voting could be problematic. As GHST value fluctuates on the crypto markets, and as Gotchi values fluctuate on the NFT market, trying to tweak the formulae to maintain some notion of equivalent voting weight between the two assets will get tricky. This is why I proposed that some classes of voting should be based on Gotchi holdings while others should be based on GHST holdings. Commitment to either asset supports the project but in different ways.
This makes the most sense. Giving voting power based on second market prices seems unnecessarily complicated. I think the additional voting power for wearables should be seen as a generous added bonus to your voting rights and shouldn’t be something needing crazy calculations for market rate averages etc.
Thats a great idea! Seems a bit unfair that people who dont have as much GHST, but have aavegotchi assets get less of a vote.
Keep in mind that doing this would in no way reduce criticisms of “whales” plutocracy. In fact, it may even exacerbate it because large buyers have deep pockets to buy wearables.
Another option is that voting with an Aavegotchi gives you 100 GHST, and also multiplies your voting power based on various factors like date of birth, kinship, and XP. As those are the most reliable factors we have of a player’s non-financial investment in the game. Sort of like quadratic voting, but based on your relationship to the Aavegotchi.