Hi all. Being that the whole issue of increasing minting vs the currently available burning of alchemica tokens has been talked about, there has been much debating over how it should actually be handled. There have been a few approaches that have been mentioned from drastically cutting the percentages that gotchi receive from channeling to ending channeling all together. Both approaches have their merits by attacking the major contributor to token supply increase, which at this time is channeling. I however would like to propose a third solution that addresses the increasing minting trajectory and at the same time the proverbial elephant in the room, the now locked spillover. Granted that in @coderdan approach, spillover would/could be reinstated but IMO I would not want this to happen until we have a PROVEN method on our platform of dealing with what would be a large influx of bots had taken place. Being that was the original reason spillover was originally stopped, I would like that fully flushed out before it was once again active.
For my proposal, I would increase the intervals of all the altar levels without decreasing the spillage percentage and would stop the minting of new tokens. Instead of minting new tokens, I propose that we start using the spillover wallet to fund channeling until the Gotchiverse has better sustainable sinks or it can no longer support channeling:
OLD vs NEW
Level 9 every 1 hrs … Level 9 every 1.5 hrs
Level 8 every 2 hrs … Level 8 every 3 hrs
Level 7 every 4 hrs … Level 7 every 5 hrs
Level 6 every 6 hrs … Level 6 every 7 hrs
Level 5 every 8 hrs … Level 5 every 9 hrs
Level 4 every 10 hrs … Level 4 every 12 hrs
Level 3 every 12 hrs … Level 3 every 14 hrs
Level 2 every 18 hrs … Level 2 every 20 hrs
Level 1 every 24 hrs … Level 1 every 30 hrs
This step helps the ecosystem by firstly addressing the overall supply of alchemica tokens by stopping its further minting of new tokens via channeling. Also it addresses the issuance of tokens by limiting how much is being claimed daily. When we change how often an altar is available, it causes a ripple effect that could make more gotchi channel on the lower level altars further affecting issuance. My reasons for wanting to use the spillover wallet are really simple. We need to start using them IMO as soon as possible. Those tokens are a giant sell pressure just waiting to happen. With this proposal, we are effectively releasing this pressure a little bit at a time. Also we are addressing the “What to do about the collected spillover?” in a way that could help the game economy and also not rekt those that choose a different strategy based on the information that was given at that time.