Many in the community are eager to see a kinship burn, mostly for introducing trade-offs and gamifying the elements of kinship accrual, rarity farming dynamism, etc.
This post seeks to explore and receive feedback on moving forward with 3 different options scenarios:
Option 1) [Endorsed by author] - Reformulate channeling cooldown from very 24h to once a week ( 168 hours or 302,400 polygon blocks). This cooldown can be reset once every 24 H, for the difference in GLTR by a factor of 20%.
Let’s dig in to how this looks like:
Gotchi channels at 12 noon Monday- it will be free to channel again 7 days later- i.e. next Monday at noon once again, for no cost at all.
At 12 noon on Tuesday, Gotchi may decide he wants to channel again and roll forward his channeling to Tuesdays at noon. In order to do this, Gotchi must complete a transaction where it burns:
*1 kinship point
*GLTR equivalent of time distance to next channel
So in this example, the gotchi must be willing to lose 1 KIN and the equivalent of 20% of the amount of GLTR blocks distance to their next channeling ( 51,840 GLTR, roughly 33 cents at current prices).
Many, but not all gotchi/altar combinations would find it profitable to continue channeling daily. Those that do, would now act as important consumers of GLTR, while assuming the risk of price volatility.
The main drawback to this option is complexity, and having to adjust the ratio of GLTR (20% in this example) in the future to respond to different market realities.
The main advantages of this option are: introducing a pathway for ecosystem participants to continue channeling daily, instead of closing shop and perhaps leaving the protocol. If they dont want the complexity, they can just channel for free once a week- this is very friendly to casual users. Finally, a new and much needed GLTR sink is introduced.
Option 2: (simple burn option): This is the KISS (keep it simple silly) option. Gotchi can channel once every 24H, just like today, but every time will cost 1 (or more) KIN.
This options offers the advantages of simplicity and maximum reduction in emissions, but as drawbacks, it greatly nerfs investment strategies of some in the community, and does away with elements of our community such as scholars or daily players in public rental markets.
Option 3: Do nothing.
Frens, your participation on this topic with feedback and suggestions will be greatly appreciated
- Option 1 (GLTR)
- Option 2 (KISS)
- Option 3 ( No Changes)