[VOTE] AGIP 43 & 44: Adding DAO Liquidity to GHST-Alchemica Pairs & Providing the DTF with Parcels and Alchemica for Contributor Compensation
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[VOTE] AGIP 43 & 44: Adding DAO Liquidity to GHST-Alchemica Pairs & Providing the DTF with Parcels and Alchemica for Contributor Compensation

Aavegotchi
Aavegotchi

Table of Contents

Two new Core Proposals are live for voting on the official Aavegotchi Snapshot, including a proposal to add 50,000 GHST (and equivalent Alchemica) to the Quickswap LP pools & transfer 50 DAO Parcels as well as 4M FUD eq. of Alchemica to the DTF for Contributor Compensation. Keep reading to get the full scoop of each Proposal, join the discussion on the official AavegotchiDAO forum, and then finally head into Snapshot to cast your vote!

Please examine each proposal carefully before voting. If a CoreProp reaches quorum, XP will be sent to all voting wallets’ Aavegotchis regardless of which side of the results one is on.

The votes are open for the following seven days. Plenty of time to consider, discuss and VOTE at the AavegotchiDAO Snapshot.

Now, let’s have a look at these two Core Proposals, shall we?

[AGIP43] Add DAO Liquidity to GHST-Alchemica Pairs

Author: Dr Wagmi#6629
GotchiID: 16635
Quorum requirement: 20% (8.5M)
Vote duration: 7 days
XP Reward: 20 XP for each Aavegotchi in the voter’s wallet

Discourse Thread: https://dao.aavegotchi.com/t/add-dao-liquidity-to-ghst-alchemica-pairs/4309

I propose that the Aavegotchi DAO add 50,000 GHST + matching alchemica liquidity to the GHST-Alchemica pairs. Further, I propose that we do not stake corresponding LP tokens for GLTR.

The benefits of adding liquidity are multiple:

  • Allows for lower slippage trading which will attract more trading and investment
  • Legitimizes the Aavegotchi ecosystem, its farming, and the native tokens
  • Supports land investors and, more specifically, those actively farming their land
  • Allows the DAO to earn trading fees on the liquidity provided

There are also some risks which should be considered:

  • Impermanent loss may decrease the net dollar value of DAO treasury funds
  • Asks a difficult question of whether or not to stake LP tokens for GLTR and compete directly against community stakers for rewards
  • Paying for liquidity is an expense in our ecosystem. In the long term, revenue must outweigh expenses for the Aavegotchi economy to thrive and assets to gain value. We should seriously consider our expenses vs revenues moving forward as we incentivize liquidity, hence the recent passed proposal to terminate FRENS which will both decrease expenses and allow NFT distributions to generate revenues

There is currently only $732,000 TOTAL in liquidity among the four alchemica-GHST pairs. Anything above a 1500 GHST swap has a price impact >1% which is not acceptable for a GameFi blue chip looking to instill investor confidence and attract new, large builders. Let’s bolster liquidity now and develop a sustainable and predictable plan to continue to add DAO liquidity at an, ideally, expense neutral rate. We can partner with the incoming DAO Project Manager(s) and community bounty hunters to further define DAO revenues and expenses to formulate our liquidity plan.

I have included amounts of 50k GHST + matching alchemica and 30k GHST + matching alchemica as well as an option to add zero DAO liquidity. Further proposals can be made regarding GLTR pools for which discussion is ongoing in the attached thread.

Thank you all,
Dr Wagmi

Option 1: Add 50k GHST + equal alchemica
Option 2: Add 30k GHST + equal alchemica
Option 3: Do not add GHST/alchemica to LPs

[AGIP44] Mint and Transfer 50 DAO Parcels and 4M FUD Eq. of Alchemica to the DTF for Contributor Compensation

Author: Dr Wagmi#6629
GotchiID: 16635
Quorum requirement: 20% (8.5M)
Vote duration: 7 days
XP Reward: 20 XP for each Aavegotchi in the voter’s wallet
Discourse Thread: https://dao.aavegotchi.com/t/requesting-alchemica-and-30-dao-parcels-for-the-dtf-to-use-as-contributor-compensation/4401

I propose that 50 DAO parcels from district 30 be minted and sent to the DTF multisig in addition to 4M FUD Equivalents worth of alchemica.

This will allow us to leverage DAO assets other than GHST to compensate our contributors. We have a variety of assets as a protocol, some of which have considerable goodwill value such as parcels in the DAO district. We can leverage these assets to better compensate and acknowledge past, current, and prospective contributors. Parallel to this effort, a transparent, stepwise process towards earning a DAO parcel will be designed. Potential pros of using alchemica/minted NFT displays/parcels as compensation:

  • Gives the DAO more options in reimbursing contributors
  • Leverages assets outside of GHST
  • Develops and promotes a contributor/builder culture specifically inside the gotchiverse
  • May have potential cascade effect where contributors build and develop their earned parcels, keeping assets within the ecosystem
  • Fosters building and development in the DAO district which should hopefully be a spotlight of activity in the gotchiverse.

An example of contributor compensation would be a DAO parcel with a LE NFT display and custom NFT – an incredibly meaningful and valuable token of appreciation for DAO contributions.

The specific parcels will be defined in the core proposition if this signal proposition passes. Feedback and ideas on specific parcel allocation is appreciated and should be directed to the included DAO discourse thread above. If the DTF is absorbed by the new DAO structure, the parcels and alchemica can be sent to the same multisig holding the DTF budget funds.

DW

Option 1: Yes. Transfer Parcels/alchemica
Option 2: No. Don't use parcels/alch.

XP Reminder

Your participation in Aavegotchi governance is valuable to the project and to your own Aavegotchis! Each Aavegotchi you own will earn 20 XP for your voting in each individual CoreProp. That’s 40 XP total! The XP is airdropped directly to your Aavegotchis in the week or so following the conclusion of the vote.

Your Aavegotchis earn XP irregardless of whether you vote for or against any particular proposal.

Conclusion

Make sure you join the discussion threads before voting, as it is very important to hear any concerns that are not addressed in the original verbatim proposals. Once you’ve heard from both the bulls and bears it’s time to put your voting power to use!

AGIP43 VOTE
AGIP44 VOTE

Stay spooky frens,
Aavegotchi Team

About Aavegotchi

Aavegotchi is an open-source, community owned NFT gaming protocol, enabling true asset ownership for gamers. Aavegotchi NFTs are on-chain collectible ghosts staked with Aave’s interest-generating aTokens.

Compete for player rewards by earning XP, leveling up, and increasing the rarity of your Aavegotchi fren. Aavegotchi is governed by the AavegotchiDAO and the native eco-governance token GHST. Visit Aavegotchi.com today and join the future of DeFi-staked NFT avatars!

Aavegotchi Resources:
Website: https://aavegotchi.com/
Blog: https://blog.aavegotchi.com/
Official Wiki: https://wiki.aavegotchi.com/
Twitter: https://twitter.com/aavegotchi
Discord: https://discord.gg/aavegotchi
YouTube: https://www.youtube.com/c/Aavegotchi
Reddit: https://www.reddit.com/r/Aavegotchi/
Telegram: https://t.me/aavegotchi

Gotchiverse Resources:
Website: https://verse.aavegotchi.com/
Gotchiverse Docs: https://docs.gotchiverse.io/

Fake Gotchis Resources:
Website: https://www.fakegotchis.com/
Twitter: https://twitter.com/FAKEgotchis
Instagram: https://www.instagram.com/fakegotchis/



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