OG Technologist here: (Helpdesk to C-Level and every role in between)
My VIEW as a new consumer. It has a negative vibe, but we’re all new to this experience.
Project team is poling the DOA too much. Think Home Owner Association (HOA) analogy when a housing development is being built. The builder isn’t poling the community unless there’s a major change. The DOA should not be involved with dates or construction.
Not much of a DOA as most gotchis have no wearables. Not decentralized as the wearable are being hoarded and are expensive at the bazaar. Very disappointed in how this is being handled. Worthless raffle tickets for investors.
New wearable should be raffled or Sold on weekly or daily cadence. Consider wearable in REAL LIFE they don’t sellout for months, where they’re only available via auction. Not fair means of distribution.
No Cadence with the land distribution. Land should be sold auctioned 365x7 randomly until plots are gone. No cherry picking unless you’re going to watch.
Wearable are way over priced because of the distribution model. Insider can time the market. Cadence is required to keep it fair.
Completely unacceptable gift of production land to anyone including founder and the development team. Ever piece land should be purchased or won in a raffle. Must be earned.
Maybe wearable require collateral (USDC, DIA, WBTC, WETH). The amount of collateral should increase with time until a cap.
Create Bylaws Example:
The Bylaws can’t be change until all the land has be distributed. Look at how HOA work in America. The process for distribution of property is similar with the difference being one has a board structure and we have DOA structure.
Developers & Founders can’t own land until after the distribution is completed.
Wearable must be diluted with time. Example: Common - Daily / Uncommon Weekly, Rare By-weekly… ETC
Hi fren welcome to the community. I’ll do my best to address some of your concerns regarding the current structure of the economy and vision of aavegotchi (to the best of my interpretation)
The goal of aavegotchi is to move towards a project fully run by the DAO. We’re currently in the cocoon phase where large decisions are directed towards the community.
Wearables are collectors items and while we have dilution of them, they are supposed to appreciate in value over time. People will always hoard, speculate, and try to play the markets. Raffle tickets are not worthless. Staking GHST earns roughly 40% apy.
We could look at different ways to raffle or auction items I agree. However, the actual distribution numbers should not increase. In fact, we are currently struggling with dilution as is.
What do you believe this would accomplish? The GBM mechanism is a great way to auction off a huge block of land all at once. It’s also a great way for players to earn money just by losing!
What do you mean insider can time the market? The items go live to everyone at the same time and the team has pretty solid anti-bot measures. Again, wearables are supposed to appreciate in value.
This concern was already raised and voted on by the DAO. We decided as a community to grant land to both PC and the DAO. To be clear, the land for Pixelcraft is not held by the team with intention to sell for a profit but rather built community activities.
What would this proposal achieve in your mind? I personally see it leading to a lot of frustration.
The bylaws are currently being rolled out! It’s the gotchi bible which you can find in the announcements. The first phase is the literature which the community can then digest, suggest edits, and together vote to set it into immutable law.
Why not? They aren’t selling the parcels they’ve been given for development. Any trading they may be doing are their own investments.
Wearables are being diluted with time already. Look at the latest raffle, a huge number of items were diluted into the market. Too much dilution results in prices moving towards zero. Nobody wants to invest in a project where everything moves towards zero.
Hope this clears some things up on the direction of the project (I’m not a team member btw, just sharing my personal opinions)
Thanks for your thoughts and contributions! It’s really useful to have a newcomer’s first take on the project.
A lot of your thoughts reflect on the process of evolving governance. It’s incredibly complicated to transition to full decentralization, especially when you are building a game with so many variables. The community has been very upset at points when they were not polled about changes; however, this polling process can certainly slow down process as the DAO isn’t maximally efficient. Hopefully, we continue to fine tune this balance and evolve as a functional DAO.
Your proposal about weekly raffles is compelling. It would provide stability to GHST staking APR, a more predictable market, and ameliorate the flood of new postings and dilution after the raffles. This may take extra dev work, but it would be something exciting and predictable every week. It would allow someone new to the project to feel like they can participate immediately instead of waiting month(s) for the next raffle. Personally, I think required collaterals already serve as an obnoxious barrier for newcomers and I would be hesitant to add any more complexity or barriers as this is already a problem with our ecosystem.
I disagree with your 5th point as the raffles are well publicized and GBM facilitates price discovery for wearable auctions. And how do we define overpriced? Mythical and godlike items are plummeting in value over the last few months…
We should always challenge ourselves, our prior assumptions, and the status quo. Thanks for making this post!
The goal of aavegotchi is to move towards a project fully run by the DAO. We’re currently in the cocoon phase where large decisions are directed towards the community.
Unfortunately that will slow the growth of this project.
Wearables are collectors items and while we have dilution of them, they are supposed to appreciate in value over time. People will always hoard, speculate, and try to play the markets. Raffle tickets are not worthless. Staking GHST earns roughly 40% ap
Disagree - Why would the items have an attribute? “Common, Uncommon, Rare… Etc” Your prospective is childish and that of spectator. Here’s why I say that. Last week, I asked a 6 year old (who is engrossed in Basketball card mania). What’s more important? The price of the basketball card or the how much you like the player on the card. He said the “Price”. You’re saying Price in your statement. I said the importance is UTILITY. Especially in a NEW Economy.
We could look at different ways to raffle or auction items I agree. However, the actual distribution numbers should not increase. In fact, we are currently struggling with dilution as is.
Answer: Items need inflation or there’s no economy.
Land Auction Candance - What do you believe this would accomplish? - Answer: Fair Distribution Isn’t that what crypto is about or is it about hoarding and selling off higher?
Additional Feedback Maybe in the fucked the world we live in at the moment, but good economy’s have Candence not a bunch of hoarders and speculators. Assembly line are used in the real world and cryptoworld should have the same thing
What do you mean insider can time the market? - Answer: They know when the next release is happening and can front run it.
This concern was already raised and voted on by the DAO. We decided as a community to grant land to both PC and the DAO. To be clear, the land for Pixelcraft is not held by the team with intention to sell for a profit but rather built community activities. - Answer: The DOA should have another vote prohibiting the sales.
Wearable require collateral (USDC, DIA, WBTC, WETH). The amount of collateral should increase with time until a cap. Question: What will this accomplish? Answer: The whole point of the metaverse is the gamification of the financial system.
Ok
The purpose of Bylaws is to set expectations that can’t be changed.
Wearables are being diluted with time already. - Your correct, but your model absolute sucks from investor prospective. From speculator prospective its great. Rug pulls ever few months.
Unfortunately your statement haven’t change my view.
Good Luck,
Andrew
I’m hoping the speculator get rekted and the investor get wealthy.
I disagree with your 5th point as the raffles are well publicized and GBM facilitates price discovery for wearable auctions. And how do we define overpriced? Mythical and godlike items are plummeting in value over the last few months…
My Response:
Over priced is defined as common items cost more than real life items.
**30 USDC or 15 GHST for common item. Is way overpriced. Common item should cost about 2 USDC or 1 GHST. There’s absolutely NO FUN in dressing up my gotchi at that price."
Unfortunately, I would not recommend people buy items until the market marker & creators get the economic system right. Unless you’re looking to book loses in the future or short term gains. I’m looking to invest in projects. "
It’s pretty clear this guy is disingenuous. He’s intentionally misspelling DAO as DOA. I doubt he’s even a player. This is probably someone mad that not only did they miss H1 and H2, they lost their Kevin to Dan and are now coming here to grief us.
Also, never trust anyone who puts LinkedIn in their profile.
