Proposal for Land Auction/Raffle #3 Within 1 week of Citaadel Release

Per AGIP25, it is the DAO’s responsibility to form a proposal for additional Land Auctions and Raffles. I am proposing that the next Land Auction and Raffle be held within 1 week prior to the Citaadel release. This proposal would include 7000 parcels in the land auction and 3000 parcels in the raffle for a total of 10 districts (or fewer depending on how much of central D1 is included). I propose that we defer the exact districts included in the raffle to the Pixelcraft team. If the community would like specific control over which districts are included, please respond and facilitate discussion on this post.

Advantages to proceeding with a 10,000 parcel land auction/raffle:

  • Increase marketing exposure and hype around the citadel release
  • Capitalize on new and renewed interest from large guild partners seeking to acquire more land
  • Engage new community members with the raffle and provide a clear short-term investment with high reward potential (still dumping alchemica, but spending GHST on raffle tickets instead of dumping GHST also)
  • 10,000 parcels finds a happy medium where the land market is not completely diluted and threatening to drop floor prices, but it allows for investment, excitement, and grouped land purchases
  • Affords a much needed FRENS sink
  • Provides the PC team a known timeline and predictable revenue generation event
  • GBM is fun and provides a significant use case to the GHST token
  • Increases the amount of land available for use and farming with the full release of the citaadel and installations

Disadvantages

  • The team bandwidth is thin and will likely still be thin around citadel release
  • Floor prices may drop with weak liquidity in the GHST ecosystem
  • There would still be 11 districts worth of land in the citadel to be auctioned/raffled

Please provide feedback over the next 48-72 hours with a planned sig prop for 4/13 unless there has been significant feedback in the interim meriting further discussion or delay.

-Dr Wagmi

7 Likes

We need to resolve this one first so we can even vote. Either we intend to give the renter our votes, or not…

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I think we need these game bible items first before the next land auction/raffle.

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In that case, that means that eyes are job two, because we cant do the wearables effect till we are done with eyes. The other three things are all coming down from PC, but the wearables and eyes are our problem now because we changed the first 4 traits already.

Also tho…

Two people have said now that the proposal that won was to wait for full bible… that is not correct, it was to wait for a proposition to be passed. It’s kind of a moot point as both may be the same thing, but we should stick with what we said we were doing.

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  1. I think that is good idea to wait for bible chapter 4 as was voted previously. Last hangout coderdan said, the chapter is ready, they just need to do final touches on chapter presentation. I think it is safe to assume that we will have bible chapter 4 in two weeks time.

  2. Auction should include District 6, remaining of Dictrict 1, and District 13, in order to connect left side and right side of previous auctions.

As for the timing of aution, i am not sure on this, but it is weird to launch citaadel with no connection left / right side. I am more inclined to do land sale / raffle as celebration of citaadel launch. This is probablys last chance, we could get premium location parcels for reasonable amount.

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The fact that we haven’t sold the middle strip of the city is actually a pretty serious issue. This map is HUGE, and I don’t think it was intended for the citaadel to be two city states on the edge of a zombiebot wasteland. Imagine having a D1 spacious and to your left is nothing but undeveloped wasteland.

Also, “LAST CHANCE TO BUY PREMIUM LAND” is a great thing to be saying at launch.

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I agree 100% we need the bible on estate building. I am not sure we need the other 3 chapters to make an informed purchase on the land. It is effective to use publication of the chapters as milestones, however, and I appreciate that as a concrete way to ensure progress before NFT dilution.

There has been a fair bit of feedback across the community that 1 week prior to launch is too soon. This may not afford adequate marketing, GBC4 may not be published and fully digested at that point. I am guessing that the immediate post-citaadel release period will be demanding time for the dev team as there will surely be bugs to sort out. Perhaps it’s best to aim for ~2 weeks after citaadel release or something along those lines?

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Yeah I think trying to cram in an auction before launch is pushing a little too hard. I like a week or two after launch better. Bazaar prices for land are pretty similar to last auction prices anyway, so it’s not like buying on the bazaar is a bad deal right now. A couple more weeks gives time to advertise the auction better, and build interest in the land when people see its utility in the first week.

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The basic price dynamics of this is that if we go before launch, it will boost alch prices and ghst prices, and if we go after launch current landowners will have a chance to work their land and the effect on alch and ghst prices will be less. The longer we wait after launch, the less effect it will have, as there will be more internal growth that can be used for liquidity.

Going before launch, essentially traps the liquidity and forces more new capital inflows. There’s a good chance that going before launch, coupled with the altars and squares, could cause a liquidity shock and moon alchemica prices.

I’m not making a judgement on what is better for the economy, but that is what the effects of stacking these things would be, as the prelaunch supply of alchemica is limited in a manner that the post launch supply is not.

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Just a reminder that we currently have 30,000 parcels that have been auctioned or raffled.
As far as I know, we do not have 30,000 active players who intend to own land. We probably don’t have 15,000 active players who intend to own land.

I would like to see us monitor the player-base over the next few weeks before deciding on a date for the next auction/raffle. And I would really like to see us resist the temptation to simply hold the auction because the timing feels magical with the realm launch.

While I love the GBM events, I will not support a signal proposal for the release of additional land until we have player numbers that are more in line with the current existing supply. If guild partners are seeking to acquire more land, they can (and should) do so on the secondary market where tons of parcels are for sale at prices similar to final auction bids.

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I hear you. It’s a fine line to find the balance which is why we need a good conversation among DAO stakeholders. I still have 130+ parcels that I would like to see appreciate. The problem with guilds/large entities acquiring via the secondary market, is that there is no batched land for them. Some guilds have 50-100 ETH to deploy but don’t want scattered remnants. Attention spans are short in web3 gaming and I want to capture that ETH vs see it allocated to another project.

Again, there has been a lot of feedback that an auction/raffle within a month after launch would be more appropriate as we all hope to scale significantly in DAU and investors by that point.

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In addition to the excellent point Wagmi makes here, there is the fact that most land is not on the market, or it is priced at an unreasonable price. The Floor value of a spacious should be about 1028, like the voting power, and the floor is well above that, even with no current utility.

It is 100% expected to be like this, as it is illogical to buy land for 20-50% above the flor, when you know that there is a 3rd auction/raffle coming, and you can participate in GBM rewards, liquidate tickets for cash, enter tickets, and generally have a shot at getting some below floor at floor, or nearer floor.

The part where we upfront said there would be 3 auctions and raffles, is the very thing that makes the market not move. The market cannot truly heat up until it is all dispersed.

The people camping land in districts hoping that a guild will suddenly become desperate and pay them an extra $1000 for the land, will have to make a decision of whether they prefer to just get their liquidity back and sell at a fair price, so they can participate in the auction, or they can sit their with locked liquidity, while their potential customer goes and gets other land, flips it for fair price, and maybe eventually comes back with enough funds to meet their price.

Also, land is not a one land per person thing. It’s 1 per gotchi, as a base ratio, and one gotchi can easily service ten lands, if that is how one prefers to do it. A player wanting to power mine, would surely want as many plots as possible, with as few gotchis as possible. This is the most efficient use of funds, if you are trying to play this game with a large bag and minimal help from others. Now that we see how difficult it is to maximize rental yields, it becomes apparent that owning a bunch of spacious plats that are fully built out, would be much more reliable and involve less social engagement.

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Considering what @HARDKOR is pointing out about 1 gotchi theoretically being able to work more than 1 parcel, might play into the hands of the lenders.

People without gotchis may be happy to buy land and rent gotchis to work it, making the rentals even more attractive.

I hadn’t thought of that until now.

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If I am renting you a gotchi that has access to my spacious plot, that has level 5 harvesters on it, you are guaranteed double the income, and I don’t need to give you as big of a cut to be a desirable employer. I can shave off 1/3 of what I was giving the renter, and they will still be making far more than they were in the first place. For mew, that means I’m not going to tip anymore unless it’s a truly exceptional shift. The land is the tip. Actually, the land is a promotion to manager.

A person who owns tons of land, could offer to whitelist the gotchis of a person who has not enough land, for a subscription fee.

There are so many ways that land can be used to improve things for everyone, that it’s not a inflationary asset at all. You need to input money to buy the land, and that grows the ecosystem, and the land increases the value of the rentals to both ends of the deal, so it’s a large gain all around. Also… all those rewards for Rarity Season 4… all the people who want to jump in with a large DAO or guild and aren’t willing to get gouged on piecemeal leftovers in the bazaar…

As far as land appreciation goes… just survey it every round, and the alchemica stacks up. It appreciates every 90 days on its own. For a guy like Wagmi… if he has more land than Gotchis he could be charging a weekly subscription to a landless gotchi owner, to use it. Personally, I would charge whatever it costs to level that land up :wink:

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Land Auction/Raffle #3 Proposal:

  • Hold the auction and raffle within the first two weeks of June (exact dates per Pixelcraft)

  • 8000 Parcels in total from predominantly districts 1, 6, 13, 23, 24, 25, 26. Parcels from previously auctioned/raffled districts may be included in the Auction per Pixelcraft discretion.

  • 70% (5600) of parcels in the auction, 30% (2400) in the raffle

  • Auction only to be held once 3M GHST from DAO is deposited in Aave OR amGHST for FRENS contract is deployed. This will maximize the available liquidity for the auction and best support floor prices.

Proposed Revenue Distribution:
-40% of revenue to the Rarity Farming Rewards Pool

-40% to Pixelcraft

-20% to the Aavegotchi DAO

-0% Burn edited after feedback to eliminate the burn

This proposal is synthesized from community feedback over the last week. The main concerns were NFT dilution, an auction/raffle feeling too rushed, inadequate available GHST liquidity, concern for the funding of Rarity Farming Season 4, and lack of clarity for which parcels were included. A June Auction will allow >2 weeks of full installation gameplay and will allow sufficient time for marketing and business development efforts to capture maximum investment. There is an adequate Gotchiverse Rewards Pool after the first two land auctions, and this sale will help fund RFS4 and perhaps even some of Season 5. This proposal has been discussed with the Pixelcraft team who support it and feel the target date is feasible.

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Is the 5% burn a good use of real money? I’d rather put that into any of the other three categories, because we would get more bang for our buck.

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good point the DAO could be staking 5% more on Aave for example

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There should be no burn, but we should increase the size of raffle side, due to frens inflation, because we added FOUR months of delay to this, and that means more “investment” was already done for the frens side. The people who got their way on the delay side, caused inflation in doing so, in the hopes of “having better information”(the truth was more like - “I dont wanna lock my liquidity up till we are ready to launch”) and honestly… the info is the same as it has always been, so it was just frens inflation that was caused.

The DAO should be staking some inputs by default, even if it is just for getting gas money…

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I agree with this proposal and having no burn. I disagree with increasing the raffle side, 30% is a fair assessment.

Making a snapshot for this, before we fixed the broken voting on snapshot, is highly inappropriate and that proposal should be canceled.

Also, we never even had a poll in here… Making a freshly worded thing, and two people saying something, is not a consensus, it is a railroad.

Why is it not 9k parcels, or 10k parcels? It says 10k in the bible. What about different splits… none of this was discussed, publicly, just in private, between 4 insiders.

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