Hope you’re all doing well and staying spooky, 'tis almost the season for it after all!
I come to you with the ghaastly proposal of having a RF SZN 5, this one is going to scare your socks off…
The parameters are… the same!?
In the spirit of “if it ain’t broke don’t fix it” - please refresh yourselves on the params of the past four seasons below:
4 Rounds (2 weeks each) 1.5 Million GHST Rewards Pool - to be funded by the
Top 7.5k Gotchis (30%)
I suggest we make the 1.5m GHST prize pool whole via the DAO treasury as previously discussed in AGIP 23. The DAO has been rebalanced with a lot of GHST due to a recent pixelcraft-lead proposal for a DAI buyback that passed governance a few weeks ago.
edit: I’ve since been reminded by some helpful frens that there’s also a 3.5m GHST+ pool of player rewards to work with. This could be our go-to for the funding of another RF season, given that any gotchiverse-native uses for said pool seem like they’re a few quarters away from finalising. If deemed useful by the DAO, we could give the player pool rewards to RF on an IOU basis, with said pool to be refilled first when we do another sale or liquidity-generating event.
In case you missed it, a short recap for our RF scheduling;
SZN 4: June - July
SZN 5: October - November
SZN 6: February - March 2023
Cliffnotes and points of discussion:
We are still in quite a deep bear market, not just on a gotchi-level but on a global level, I hope you’ve been staying safe through that frens! The good thing about bear markets is that you can buy low and pivot into generational wealth. The bad thing about bear markets is that everything is low, including your portfolio, and your heating bill might soon be the size of a small pacific country’s GDP.
I have a feeling that in the spirit of guarding core protocol features and keeping our wearables market alive, it is a goal of the DAO and the treasury to keep some form of RF going, which is why I’ve brought this topic up on the forum.
It is, however, important to have some considerations on how to fund these, going forward.
The appetite for risk assets is at a record low, so funding future seasons with a (GBM) sale might not just annoy our long-term holders, but even risk our stock not selling out completely in the worst case scenario. This could be verybad™ for the gotchigaang.
On the other hand, funding a rarity farm by trade fees of the GAX alone is a pipe dream in the current market, but very much possible once we kick off and lickquidate the world. Maybe it’s prudent to coast off our treasury, while getting some GHST and alchemica sinks in to accompany SZN 5, and plan accordingly for 2023 and beyond?
We are stuck then, in a dilemma, where on the one side our treasury is now running net negative every rarity farm, but not doing a rarity farm at all could only quicken a slow bleed all too happily, as people cut their losses at the prospect of yield drying up. Perhaps this is an acceptable risk to take and we should focus on keeping the treasury filled, or perhaps we want to burn runway and focus on keeping our core userbase engaged in preparation for new user acquisition and the hopes for better market times ahead as the macro-situation changes.
I don’t have a crystal ball, and I cannot predict what 2023 and beyond are going to look like economy-wise. I firmly believe that if we keep our community strong and our devs and shippoors building and moisturised, this decade will be the decade of the gotchis; but the economic policy of getting there, I leave to you all to reach consensus on.
What are your hopes for season 5, what are your worries for season 5 and beyond, what would you like to see going forward?
Share it below, but please try to keep it concise and on the topic of rarity farming!
Stay spooky, stay safe
*Edited to include the 3.5m GHST player rewards pool