Do we need so many on chain transactions

Hi Gotchi Gang,

I’m a huge fan of the work done by Pixel Craft Studios to bring the Gotchiverse to life, its an amazing game.

Also I fully appreciate its still very early days in the maturity of the game, however I think one aspect of the game is going to hold back broad adoption.

Currently we have an insane amount of mandatory daily on chain transactions. These transactions are for actions that include:

  • Channeling (4 token transfers per parcel channelled + 1 gas transaction)
  • Harvesting (4 token transfer per parcel harvested + 1 gas transaction)

Thats 10 transactions per day, per parcel impacting the parcel owners wallet (assuming you are only harvesting once a day).

Now assume you might have 10 parcels and you have 100 transactions a day or 36,500 transactions a year that you need to account for, if are paying your taxes and using some accounting software to track these transactions.

Currently this # of transactions places you in the top cost bracket for SAS accounting services, however some SAS solutions do not allow the tracking of more than 50,000 to 100,000 transactions annually (depending on provider it could be lower or higher).

Assume for a moment you add in all the other (potentially non mandatory) transactions in the Gotchiverse for:

  • Equipping Items on Parcels
  • UnEquipping items on Parcels
  • Collecting Spillover tokens
  • Equipping and UnEquipping Gotchi’s
  • Lending transactions
  • Collecting Gotchi UBI
  • Other unknowns (i.e. Battling etc)

While these may not all be financially relevant transactions they all add to the transaction count that SAS Accounting platforms assess usage by. This means we will quickly reach a point where it isn’t possible to track these transactions at all, once SAS Accounting Transaction limits are hit.

Recommendation

I’d like to recommend the following:

  • the ability to channel/harvest tokens within the GotchiVerse without having to immediately extract them to your wallet. Allows the user to decide when to take custody of the tokens and reduce the daily transaction load. Maybe there could be an option to store the tokens in the parcel’s pocket, like we do with Gotchi UBI? Maybe we could have channeled/harvested tokens vest over a period of time able to be distributed at the users discretion post a short vesting period (i.e. 1 month)?

  • for the devs to take another look at the on-chain transactions being generated by interactions to determine what low risk interactions could be done by ‘signing a message’ (as used for petting) or some other solution

These are some early thoughts and I would welcome the input of others, again I appreciate all the work done by the Pixel Craft team and hope we can find some common ground here to take the game forward.

5 Likes

To clarify:

  • Currently UBI is deposited into the pocket of Gotchi’s each rarity farming season. The owner can then decide when to transfer that to his/her wallet. I suggest a similar process for channeling/harvesting on parcels. Continue daily action but rather than an on-chain transaction it is a signed message, that stores the alchemica in the parcel pocket (or similar). When the owner of the parcel wants to withdraw it they can to their wallet (ultimately a subtle form of vesting)

  • As this would mess with the concept of lending for channeling - it would need to be an selected option for those who want to make use of this feature vs those that don’t

  • It could also create another sink for Alchemica (pre withdrawal) if those that choose to vest/lock their harvesting/channeling income for a period of time they could be rewarded with GLTR

1 Like

I love the idea of having the option to combine a pet, a channel, and claiming from the reservoirs into a single transaction. I tend to line up my channeling with my reservoir emptying.

4 Likes

I don’t think any solution that doesn’t give us some sort of standardized output that one could submit to an authority is going to help with the tax situation at all. Yes, this idea makes things less clicky, but no… nothing will save us from generating so many transactions that we absolutely cannot use any method besides "net gain or loss, and an entire ream of paper printed out and handed in with the words “sorry ser” written on the cover sheet.

PS - you forgot the petting, the arbing, the staking, the constant rebasing, the trading, the OTC swaps. I predict that were one to quantify what really goes on transaction wise, you most likely have more than on transaction, for every penny you have involved in the game. I have a feeling that were the right lawyer to get involved, we could show that the tax laws are illegal, based on being impossible to comply with. It almost seems worth it to find the worst offender, transaction wise, and back them up in court, to set a precedent.