DIP - 36 Ensure Capitalization of DAO While Aligning Incentives to Holders
Why?
DAO needs more PAPER (without minting more PAPER!!) DAO needs more revenue (devs need to be paid!!) PAPER and DOPE holders need more incentives
How?
IMPLEMENTATION OF DOPE WARS TURF
A player owned in-game area known as Dope Wars TURF.
TURF in its original form is outlined in more detail in Winston’s previous proposal found at the following address: Dope Wars Territories Proposal.
What are the changes?
TURF was originally proposed as a free drop of ~30K+ TURF, broken up versions of the real world locations, as a way to bootstrap a “GTA of the Metaverse” environment.
Since then, a LOT of things have changed, mainly, HMPK and Larko have started building out the maps for the actual game. As such, it now makes more sense for TURF to be ownership of some of the spaces within these maps, which can function as both ownership of the Dope Wars Metaverse while also having utility within the eventual game states that take place within these maps.
https://dope-monorepo-n0wjfcp45-dopewarsexe.vercel.app/game
The above is an example of one of the “zones”. In line with the properties of the original Dope Wars NFTs, there are 19 locations or zones. These have been remapped as per the below.
const RYO_LOCATIONS = { ‘The Bayou’: [‘Upriver’, ‘Highground’, ‘Platoon’, ‘Old Bridge’], Atlanta: [‘Oakland City’, ‘West End’, ‘Grove Park’, ‘Adamsville’], Compton: [‘Long Beach’, ‘Inglewood’, ‘Hollywood’, ‘Venice’], Oakland: [‘Eastmont’, ‘Webster’, ‘Claremont’, ‘Piedmont’], SOMA: [‘South Branch’, ‘Yerba Buena’, ‘Rincon Hill’, ‘Central’], ‘Hong Kong’: [‘Kowloon City’, ‘Wan Chai’, ‘Lan Kwai Fong’, ‘Chunking Mansions’], London: [‘East End’, ‘Camden Town’, ‘Brixton’, ‘Elephant & Castle’], Chicago: [‘Englewood’, ‘West Garfield Park’, ‘Lincoln Park’, ‘Beverly’], Brooklyn: [‘Brownsville’, ‘Bushwick’, ‘Fort Greene’, ‘Brooklyn Heights’], Detroit: [‘Van Steuban’, ‘Warrendale’, ‘Fiskorn’, ‘Palmer Woods’], ‘Mob Town’: [‘Grove Park’, ‘Riverside’, ‘Canton’, ‘Berea’], Murdertown: [‘Pike Creek’, ‘Highland’, ‘Downtown’, ‘Wooster’], ‘Sin City’: [‘The Strip’, ‘Downtown’, ‘North Vegas’, ‘Green Valley’], ‘Big Smoke’: [‘Old Bridge’, ‘Dock Lands’, ‘Central’, ‘High Rise’], ‘The Backwoods’: [‘Old Town’, ‘Deep North’, ‘Hillside’, ‘West Rim’], ‘The Big Easy’: [‘Central City’, ‘Saint Roch’, ‘Audoubon’, ‘Uptown’], Queens: [‘Long Island City’, ‘Ridgewood’, ‘Rochdale’, ‘Howard Beach’], BedStuy: [‘Bedford’, ‘Stuyvesant Heights’, ‘Ocean Hill’, ‘Central’], Buffalo: [‘Parkside’, ‘North Park’, ‘Kenfield’, ‘Emerson’], };
As such, TURF distribution would be as follows
7980 total TURF 19 zones 420 locations 105 per neighborhood
3990 of these TURF would be directly sold as part of the Dope Wars TURF Genesis Land Sale.
Proposed price is 0.08ETH.
3990 x 0.08 = 319.2 ETH for the DAO, approx $800K in revenue for the DAO, half of which would be immediately sold for USDC and the other half used to buy back PAPER from the market to increase the DAO’s PAPER holdings. This would increase the PAPER holdings in the DAO by approx 42m PAPER at current market price.
3990 TURF would be distributed to DOPE holders and PAPER LP stakers.
Proposed distribution mechanics -
DOPE holders will be snapshotted. Maximum 1 TURF per wallet. A maximum of 1995 TURF to be distributed to this tranche. Any non distributed TURF from this tranche will be distributed to PAPER stakers.
PAPER will be required to be added to the PAPER/ETH LP on Uni v3 during a “PAPER staking event”. A minimum amount of PAPER will need to be staked to qualify for the snapshot. 1995 TURF / qualified addresses (to a minimum of 1 TURF with a maximum TBA).
Snapshotted/qualified wallets will be added to the TURF mint contract and have the ability to mint TURF for no cost (sans gas) prior to the Dope Wars TURF Genesis Land Sale.
There will be 4 types of TURF, small apartment, medium apartment, large apartment and penthouse apartment (names can be modified to fit Dope Wars lore). Distribution of TURF types will be randomized on mint.
Dope Wars TURF will be a L1 ETH asset, and thus tradable on Opensea. This will bring in further royalty payments to the DAO based on secondary market trading and a 5% creator royalty fee.
This structure is heavily influenced by Web3 and their zones and apartments metrics/mechanics.
PAPER BUYBACKS
As mentioned above, half the revenue from the TURF sale will be used for a one time buy back of PAPER from the market to increase the DAO’s PAPER holdings.
Additional buybacks of PAPER by the DAO can be voted on via DAO participants using royalty payments that come in from TURF. An ideal buyback mechanic is that each time a royalty payment is made on TURF via Opensea, 50% of the royalty payment is liquidated from ETH to USDC and 50% is used to buyback PAPER from the market.
REMOVING ABILITY TO INFLATE THE SUPPLY OF PAPER
With the above buyback mechanics in mind, the supply of PAPER shall not be inflated via additional mints and this proposal seeks to remove the ability of such at the contract level in perpetuity by burning the keys of the PAPER contract.
PAPER is the designated in-game currency of Dope Wars and is used for unbundling DOPE, purchasing accessories, and for LPing to allow prospective players to purchase some for use in the game.
PAYMENT TO CREATORS IN PAPER
In order to best align incentives with developers, artists, or other contributors to the DAO’s ultimate goals, there shall be a vesting schedule of PAPER yet to be determined by the community.
BUDGET FOR ADDITIONAL FRONT & BACKEND DEVELOPERS
With the additional revenue generated by TURF, this would allow an increased budget for additional developers to work on this proposal at an hourly market rate with specific deliverables to be codified.
Tarrance and Faces can also be paid a standard hourly rate for work carried out on everything Dope Wars so they are no longer working for free.
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
0xdC0c...42BD12 | 102 | Lets talk it over |
0x45bA...E65D99 | 75 | Agree |
0xa455...20f2c4 | 57 | Lets talk it over |
0x22E8...1Adb8b | 57 | Lets talk it over |
0xd4b6...E0A020 | 46 | Agree |
VOTE POWER
Proposal Status
- Sat March 12 2022, 12:35 amVoting Period Starts
- Tue March 15 2022, 02:00 amEnd Voting Period
Current Results
1-Lets talk it over
488
2-Agree
449
3-Disagree
3
