[Constructing in Process]Proposal for BanklessDAO to participate in the GBM Auction of the Gotchiverse Reaalm Parcel

Title: Proposal to participate in the GBM Auction of the Gotchiverse Reaalm Parcel

Authors: @ricJones | Grizzy#9187, fin4thepeople#8470

Creation Date: 14 OCT 2021

(Proposal rookie/newbie. Please don’t be too harsh on the critic >_<)

Summary

This proposal is to request funding (10k GHST = 4.5814717 ETH = 200930.857 BANK) from the treasury to participate on the GBM auction of the parcel

BACKGROUND

According to the Aavegotchi announcement, the 1st GBM auction of the parcels will be launched between Oct 28 to Oct 31. There will be future auctions of the parcels and the 2nd one would be on November.

When : October 28, 2pm UTC — October 31, 2pm UTC
Where : aavegotchi.com

REALM Land Parcel Auction #1 will feature 16,000 parcels and it will be auctioned out in each individual auction. The parcels are divided into 3 types: humble, reasonable and spacious. Alchemica is an in-game currency which can be farmed within the Gotchiverse to establish structures. Exact amounts of Alchemica stored inside each parcel will be determined only when the game goes live and the owner engages the “Gotchi Altar” (where Chainlink VRF takes all inputs into consideration and distributes the Alchemica).

Humble

  • Size: 8x8
  • 40% of all parcels
  • Contains small deposits of Alchemica and building space

Reasonably-Sized
-Size: 16x16
-40% of all parcels
-Contains reasonable deposits of Alchemica and building space

Spacious
-Size: 32x64
-20% of all parcels
-Contains huge deposits of Alchemica and building space

Owners of REALM parcels can employ their Aavegotchis (and those of others) to farm their parcels, producing quantities of resources known as Gotchus Alchemica. Gotchus Alchemica are ERC20 Tokens that make up the four elements of the Gotchiverse: FOMO, KEK, ALPHA, and FUD.

Gotchus Alchemica can be combined to create powerful structures known as Installations and aesthetica among other uses. Those structures can help boost the yield of the REAALM parcel and and build defensive structures in preparation for the coming of the Prophecy, and the great Lickquidators invasion.

Aavegotchis are on-chain collectible ghosts staked with Aave’s interest-generating aTokens.

Players can compete for rewards by earning XP, leveling up, and increasing the rarity of your Aavegotchi fren. Owned by the community, Aavegotchi is governed by the AavegotchiDAO and the native eco-governance token GHST.

Here is the link to the litepaper

And also GBM auctions aka bid-2-earn auctions, one can read for more info here. It is a special type of auction where you earn token where you got outbid. For example, if you bid 100 GHST on a humble parcel, then when annother outbids you for 200 GHST, you recover your original bid + 10% of that, meaning a total of 1.1 of your bid. Hence there is mininum value loss in participating the auction. You either get the parcel or you get more tokens.

The only-loss scenario is when you bid a parcel too high, making nobody to outbid you.

MISSION & VALUES ALIGNMENT

It can help promote BanklessDAO within the Aavegotchi community. Morever, they can have a meetup place in the Metaverse, using Aavegotchi characters.

SPECIFICATION

  • Assigning a member that have better knowledge of Aavegotchi to bid on the parcel. Recommending to bid on the Spacious one first and go reasonably big funds (i.e. 1.5k GHST). The motivation is to get outbid to earn some funds.

  • On the final day, the price discovery of the parcels are almost finished and the member can bid on one without over-paying for the parcel.

  • The bidded parcel can then be used to farm Alchemia to raise structure, in which also boosts the yield of the land.

  • Farmed Alchemia may be able to be swapped for GHST and then for $BANK to help the treasury grow.

FINANCIAL IMPLICATIONS

WIP

BRAND USAGE

If the project will use the Bankless DAO brand outside the DAO, explain in detail how the brand will be used and add a “Bankless Brand” tag to the project.

SUCCESS METRICS OR KPIS

WIP

NEXT STEPS

WIP

SQUAD BACKGROUND

I am a owner of 3 Aavegotchis and also a humble developer of Sushivaders, a community-developed, Aavegotchi minigame.

POLL

  • Should this proposal be put on Snapshot or it should be knocked back to the drawing board ?
  • SnapShot-ready.
  • This still need some refinement.

0 voters

Why do I see no Poll? I think this is a risky though possibly incredible idea.
Quite a bite for a video game, but hey, “Scared money don’t make none.”
Advertising alone could be worth it.

  • Frank

Poll is added.
I feel there is not a need to push the proposal through by end of Oct.
There is still another auction on the end of Nov.
The merit of this proposal is that it can help BanklessDAO engage with Aavegotchi players, especially that it has a DAO governing the game.

Thanks for the proposal. Same feedback as previously on Grendel’s metaverse proposal. This is missing the essential parts of ‘success metrics / KPIS’ and ‘financial implications’. You are proposing to spend $20k without any clarity on the ROI for this or how do we measure this. Voting back to drawing board at this stage.

Thank you for your honest feedback. I understand this is a naive and DEGEN proposal.
Any examples on success matric/ KPI in which I can try to make ? This is my first proposal on bDAO and I simply lack the skill to make a concrete, convincing proposal.

mgoesdistance via Bankless DAO <bankless@discoursemail.com>於 2021年10月18日週一,下午2:58寫道: