[VOTE] AGIP 45, 46, 47 & 48: Preventing Owners from Channeling Gotchis Listed for Lending, Creating New Wearable Sets, Enacting a Bonding Curve Emergency Plan, and Funding & Developing The Forge

Four new Core Proposals are live for voting on the official Aavegotchi Snapshot, including a proposal to prevent owners from channeling gotchis listed for lending, create new wearable sets, putting an emergency plan for the bonding curve in place, and funding “The Forge”. 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 four Core Proposals, shall we?

[AGIP45] Preventing Owners From Channeling Gotchis Listed For Lending

Author: Xeko#4950
GotchiID: 19086
Quorum requirement: 20% (8.5M)
Vote duration: 7 days
XP Reward: 20 XP for each Aavegotchi in the voter’s walletDiscourse Thread: https://dao.aavegotchi.com/t/preventing-gotchis-listed-for-rental-from-being-able-to-channel/4388/

The idea here is fairly simple. To prevent gotchi owners from channeling their gotchis while they are listed for rent on the aavegotchi site. The reason for this is that we saw at least a few instances of owners listing their gotchis for rent then immediately after channeling. What would happen was that an unexpecting player would check the rental market after the gotchi was rented but before it got channeled and would then be stuck renting a channeled gotchi. The owner would get the channeling alchemica as well as the rental fees from the borrower.

This hasn’t been a widespread issue yet because not many people are maliciously doing it, it also needs to be timed well with someone checking the rental market at the wrong moment. But I don’t believe there is any benefit to allowing owners the ability to make use of this exploit.

As per Dan on the thread, the implementation is ready so it won’t require anymore dev time, there just happened to be some minor pushback on this idea so the devs don’t want to implement it without a vote.

Option 1: Stop listed Gotchi from channeling
Option 2: Do nothing

[AGIP46] Creating New Wearable Sets

Authors: buba schwab#3017, Zerk#9094, bin laggin#9341, notorious_BTC#2084, tburd.eth#0001, HARDKOR#6268, Fantasma#1777
GotchiIDs: 2675, 7090, 2738, 4858, 9673, 15883, 2824
Quorum requirement: 20% (8.5M)
Vote duration: 7 days
XP Reward: 20 XP for each Aavegotchi in the voter’s walletDiscourse Thread: https://dao.aavegotchi.com/t/new-wearable-sets-existing-wearables-only/4421

During the new wearables moratorium, the opportunities to fix existing sets and to introduce new sets involving ONLY current wearables were identified.

The "broken" sets were successfully fixed via patch, and different members of the community put forth their suggestions for new wearable sets. Existing Pixelcraft guidelines for the composition and bonuses of each wearable set, mainly based on the rarity of the highest component, were applied.

In the referenced forum link, polls were established for all members of the community to be able to express their support for a particular set.

The spreadhseet with details for all proposed sets is available at:
https://docs.google.com/spreadsheets/d/174ea8dzcO3yiBOgCvAIdUuQkK5_AHG3FoZdMunAJZYY/edit?usp=sharing

The ideation Discord thread where the ideas for the sets were brainstormed can be referenced at:
https://discord.com/channels/732491344970383370/992288286271864832/1002569658634862602

It was decided by consensus that Pixelcraft would retain ultimate veto and decision power in the ultimate implementation of these sets. At large, this effort has been also a means to share with the broader Aavegotchi DAO public how the process has previously worked between WTF and Pixelcraft i.e. a volunteer-dependent process, that nonetheless can achieve great things for the ecosystem by harnessing the different talents and creativity of all of our frens.

Option 1: Yes, create new sets
Option 2: No, don’t do anything
Option 3: Abstain

[AGIP47] Enacting a Bonding Curve Emergency Plan

Author: MoonGotchi#1234
GotchiID: 3541
Quorum requirement: 20% (8.5M)
Vote duration: 7 days
XP Reward: 20 XP for each Aavegotchi in the voter’s walletDiscourse Thread: https://dao.aavegotchi.com/t/bonding-curve-emergency-plan/4397

Hello fellow GHST enjoyooors,

My post about the Bonding Curve has sparked an interesting discussion about GHST's future and a potential shutdown of our well-known stability mechanism. While this proposal is certainly related to the discussion, it is NOT a proposal to make GHST a free floating token. Let me elaborate...

Problem

For the people not super familiar with the entire MakerDAO debate, you can get a long-form summary here. In short, there is a lot of uncertainty concerning the regulation of decentralized smart contracts (Tornado Cash) and stablecoins. Since GHST is closely tied to DAI's value, we need to monitor those developments very closely. If anything happens to DAI, our entire treasury (and GHST's stability) is at risk.

In this proposal I want to define the potential cases of emergency and the actions the multisig currently managing the GHST Bonding Curve on Ethereum mainnet needs to take to mitigate risks. Again, as long as DAI works as intended, this proposal does not suggest messing with the Curve - that is a completely separate discussion.

Emergency Scenarios

DAI loses dollar peg: As long as USDC backing is intact, no action needed. Signers should however set alerts for $0.95 and $0.90 to be notified of a potential depeg so they're able to act immediately as the situation unrolls.
MakerDAO shifts away from a dollar backing: Very long-term strategic consideration, will probably take 2-3 years to unfold. No immediate action needed, more relevant for the discussion surrounding a general Curve shutdown.
This is the important one. MakerDAO contracts get blacklisted by Circle (USDC) due to regulatory reasons: Signers would have to act immediately to protect the value of GHST's backing. I propose immediately shutting down the Curve and swapping the DAI for USDC. This ensures that we lock in some of our treasury's value, it does however remove the main source of liquidity for GHST. To make sure GHST doesn't enter a free fall, $5M worth of USDC should immediately be paired with $5M worth of treasury GHST in our main Quickswap pool.

Using the current numbers, this would leave us with ~$18M USDC - the majority of which should be used to buy back the paired GHST and build up a larger LP position. The initial LP position would double our current pool and buy enough time to decide on next steps.

Keep in mind that this is a very unlikely emergency scenario. We should be prepared for everything though, getting caught with our pants down could wipe out a large sum of our treasury value and put GHST in a very vulnerable position.

Option 1: Yes, follow this Emergency Plan
Option 2: No, ignore this Emergency Plan

[AGIP48] The Forge - Request for Funding and Development

Author: Dr. Wagmi
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/the-forge-aalloys-essence-and-smithing-a-massive-proposal/4432

Introducing the Forge:

TL;DR

You can turn wearables into other wearables with the forge mechanic
Wearables are made of alloys + schematics (the recipe) + Frames
This allows many new wearable designs
This process can be deflationary, making room for new wearable sales and protecting current asset value
This 50,000 GHST will go to fund the development of the Forge, its mechanics, smart contracts, art, and educational materials
The goal is for the DAO to do as much of the work as possible to avoid delaying Pixelcraft’s other efforts
See the Project Overview and Google Sheet documents for extensive details
Know that this is all a work in progress and we would all benefit from broad DAO contributions

The Forge Project Overview: https://docs.google.com/document/d/1jRLSHVnIu3YU8SBfAasH8pHvuPFdn6hDhXnOir65KVA/edit?usp=sharing

The Forge Google Sheets w Recipes, statistics, and economic modeling (work in progress):
https://docs.google.com/spreadsheets/d/1fFPZr2QE1ngpGbnfQQQS1gDxWLvMVJ6j7iNTwjtzrmU/edit?usp=sharing

Budget Request and Purpose:

50k GHST to pay for development of smart contract work, economics team, project management, art bounties, dashboard bounties, and event/rewards for launch

Project Landmarks and Goal Timeline:

Forge Overview:

All wearables will be composed of Aalloys + Schematics + Frames. Godlikes and pets will additionally require essence which is obtained by sacrificing a gotchi. Wearables can be smelted back into Aalloys + schematic + Frame +-essence at the Forge. Wearables can only be forged if the user has all of the underlying components. There is an alchemica cost for Forging and success can be determined by the smithing skill. It will feel challenging to successfully forge a Godlike which will require high smithing skill + all underlying components. Successful smithing will increase your smithing skill. It will cost more Aalloy to forge a wearable than will be obtained when melting it down. This will serve as an Aalloy burn which will reduce the potential building blocks of wearables. This can serve as a deflationary mechanic on the wearable market.

The Forge allows all wearables to be turned into their base components which can then be reused to craft new wearables. This creates fluidity in the wearable market by allowing users to craft new wearables or break down ones they don’t use into useful parts. Breaking down wearables into base components abstracts specific aspects of wearables into designated tokens that can be granularly controlled. This allows for more wearable designs and trait combinations with introduction of schematics without net dilution. Alloys allow for wearables to be turned into other wearables with different traits, creates fluidity in the market and provides much needed equity in traits. Frames serve as the lever for scarcity for which emissions will be controlled by the DAO. Each wearable is composed of its underlying aalloy, its schematic, and its frame.

All current wearables are “complete wearables” and can be smelted into these components. The separate components allow sufficient levers to design healthy engagement loops, introduce more wearables, and have potential loot/player rewards. Additionally, it allows for a Smithing mechanic in the gotchiverse to increase overall experience in the gotchiverse. It creates an even stronger bond between the user and their wearables since they were forged (or even designed) by the user. It also creates opportunities for deflationary mechanics on each component that can be modified as needed to maximize player experience and asset value. While there would be many mechanics introduced, the base idea of crafting is familiar to MMORPG players.

There will be multiple primary decision points that need DAO approval. The DAO forge team will work through various mechanics and propose a series of signal propositions to the DAO for consideration. These propositions will include a recommendation and the underlying models to understand the impact of the decisions. The Forge team will work diligently to include community feedback and create the Forge in a maximally transparent way. The forge idea has already morphed significantly since its inception and I expect it to continue to evolve before and even after implementation.

Please see the attached documents for more information and please feel welcome and encouraged to leave comments or message me directly for feedback. Thank you for the consideration

Option 1: Yes, fund the Project 50k GHST
Option 2: No, don’t fund development

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 80 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!

AGIP45 VOTE
AGIP46 VOTE
AGIP47 VOTE
AGIP48 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!

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