Program to obtain floor gotchi for DAO purposes [paused]

Proposals by Gotchi Gov'nuhs
1

Introduction

Currently, in order for DAO to obtain a gotchi for internal purposes. DAO would most likely purchase a floor gotchi off the bazar

Problem

This cost the treasury ghst

Solution

A program to procure gotchi that is to be sacrifice by player:

  1. When it is determined the DAO needs to obtain a floor gotchi for DAO purposes. Offer with number of gotchi will be announced via official channels (i.e. discord) and open for 5 days

  2. Gotchi owner sign up. If there is more offer than number of gotchi DAO is looking for, VRF will choose the owner.

  3. Gotchi owner send DAO the Gotchi

  4. PC assign exp to a gotchi of player’s choice

  5. Gotchi in DAO possession will never be sold and is considered “sacrifice” as it will be purely used for internal purposes

EXP

Offer exp at 1x multiplier to gotchi’s exp + variable essence exp + 150 exp

Variable essence EXP = # essence (1000) * essence floor price / exp floor price
(determined at time offer is posted)

150 exp is given to incentivize one to utilize this program instead of traditional sacrifice

Even tho DAO has some essence in possession.
I think it is best to not release them back to economy / interfere with forge team by using essence in DAO possession obtained by smithing

tldr; virtual sacrifice without essence reward offset by extra exp so that dao can obtain “sacrificed” gotchi without cost to treasury

Benefit

  1. reduced cost to DAO treasury
  2. have gotchi available for internal purpose (i.e. sigprop, rent out for event/promo)
  3. player who was going to sacrifice their gotchi get a bit of extra exp and no essence reward

Back up plan: GHST offer

If exp offer is posted and there is no gotchi owner who offer their gotchi after 5 days

An ghst offer will be posted for another 5 days. Owner who ask for the lowest amount of ghst to trade in their gotchi will be chosen. (During this period, if someone offer a gotchi for exp on fcfs basis this offer will be withdrew)

If more than 1 owner has matching bid. VRF will determine the winner
(tie breaker using traits/exp/kin/brs/pretty eyes etc is too much work)

Exception

If the lowest offer is higher than current bazar floor price at time of closing. Floor gotchi will be purchases off bazar instead

If all of the above fails to obtain needed gotchi

DAO will purchase a floor gotchi off bazar using treasury ghst

Event Mode: Mini EXP Bonus Raffle

The first portion of this proposal “EXP” without “Back up plan: GHST offer” can be used as a mini exp bonus raffle event.

DAO can occasionally (i.e. before RF season)
offer a raffle with x number of winner.

For example:

X number of Winner to be selected to trade in their gotchi to receive:

gotchi’s base exp + essence in exp + 150exp

(as per formula stated before)

Anyone with a gotchigang role discord account can sign up but there will only be X number of winner. (requirement can be adjusted)

Player who loss will not lose anything. (This can be modified later on with a small ghst entry fee if it becomes an issue. i.e. multiple account)

If the selected winner(s) does not follow thru with the trade in. VRF will be ran again to selected another winner until a winner completes the trade in.

EXP Royalty

To set a possible path for sig prop created by non-paid author in an environment where most sigprop are created by paid authors. I propose the following:

Each time this program is run in “Event” mode successfully
5 exp will be awarded to me

*Successful = A completed trade in.
*Cancelled event due to no participant or any other reason doesn’t count.

This only happens if the idea is ever used. Therefore, this feature does nothing as long as it is not used

This sigprop simply establish a program/event. This does not require any DAO funding or further action if it is not used.

The idea is that demand for raffle is unknown. I should only get rewarded if there is actual demand.

(Aside from the 150 exp for successful sig prop which is the base cost for this idea)

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2

Why does the dao need a gotchi?

3

Because of my other thread Virtually Reducing Alchemica Cap

It is just a program if there is ever a future need (Other thread might not pass and is wip) but should not be dependent on my other thread passing

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4

I did a bit of thinking. This program has a secondary function.

Without the ghst part, the first portion can be used as an bonus exp raffle event.

Not necessary only when DAO needs a gotchi

Just an optional raffle event people can participate if they want. (Event can be simply cancelled if no one participate)

5

It might be helpful to include ways the DAO would benefit from this

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6

You should check out soloegoists autoraffle idea in the glitter discord.

It’s a deep dive in the direction you are thinking. He probably discusses every possible way you can raffle stuff, in his section, and gives deep analysis of why and why not.

It ended at… we dont really have anything to raffle at moment equal to what we feel frens deserve.

7

To reduce the supply of gotchis when there is lower demand, we could create a raffle smart contract where each essence is 1 raffle ticket. Which when entered burns the essence. Then the DAO could offer GHST or Alchemica from its treasury as prizes for the winner of the Chainlink VRF raffle. Or maybe the DAO keeps a small percentage of the essence instead of burning all of it.

2 Likes
8

Wasn’t trying to reduce supply. This thread was originally made to acquire Gotchi for the DAO for one of my idea that was abandoned (which require 1 or 2 gotchi in dao’s control)

Was hoping to use exp instead of ghst to acquire the said gotchis.

Raffle was simply there because there is bonus exp versus a simple sacrifice and that is most fair way to pick a winner if there is multiple submission.

9

To reduce supply when there is low demand.

You just need to do a involuntary sink.

Here is an idea:

There is a public pool where you can contribute essence.

Each day 1 essence * number of Gotchi in existence must be submitted. (20K+ currently) Otherwise, all gotchi dies.

This means we will need 20+ sacrifice a day to start
After a month we will reduce Gotchi supply by 600.

Best case scenario, we stop this madness after a year or so

Worst case scenario, all gotchi dies and we have haunt 3

The lore: Gotchi god require daily offering of 1 essence for each Gotchi in existence

Yes, this is a joke :laughing:

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