I would like to begin by saying thank you to everyone that gave us feedback on our earlier post. We have taken it all on board and it has made us reconsider our original plan.
We have decided the following:
Change name to DKP
While this is something that we very much would like to do, it is not possible until the Dfinity Foundation adds that functionality. In the meantime, the Dragginz token will be known as SNS-1.
Numeric adaption of token supply
We have decided to move the decimal place for DKP so that there are a total of 1,000,000,000.000 tokens. Moving the decimal point does not alter anyone’s holdings, it just really changes the way the total is displayed. This should give us enough runway so that when you buy items in game, you will not be dealing with tiny fractions. We plan to do this on 23rd October 2023. All exchanges SNS-1 can be traded on will be notified ahead of time and trading will temporarily be suspended while this update occurs.
No Inflation
Contrary to our initial thoughts, we have decided not to have inflation at all. This means that there will be no additional SNS-1 tokens minted as rewards. The 1 billion tokens (minus the small amount that has already been burnt) are it.
It is now up to us to ensure that the in-game items you can purchase for DKP are interesting enough for us to be able to support development. Unless people spend DKP in-game, there is no other way for Dragginz to make income. This could change in the future with merchandising etc, but nobody will want to buy anything if we don’t make a good game! Even if we do start merchandising, all proceeds from that would be put back into the game.
No Deflation
As there is no inflation, we have no plans to burn DKP. Instead the Dragginz Foundation will sell the DKP used to purchase items from the Foundation, and the proceeds will be used to pay for cycles, other running costs and development.
There will however be a slight unavoidable deflationary mechanic. We will set the transaction fee as low as we can (0.001 DKP). This transaction fee will be burnt every time a transaction takes place. We have to do this, it is really an anti-spam fee.
Governance and Voting Incentives
There will be incentives to participate in the governance. These incentives will be some form of rewards embedded in the game mechanism of Dragginz , i.e., not be in form of any direct financial rewards. The exact form depends on what we can do in the game and may even be subject to a vote itself.
Some ideas are:
social status – exclusive titles, hairstyles, clothing, crowns, pets etc.
access to special ranks which allow you to do things that regular players and non-DKP holders cannot do. (Not game breaking, no pay to win mechanics though)
we also wish to have a way to recognize how long a person has locked their DKP for in game (opt in of course).
The governance decisions regarding which we intend to invite the community to provide their opinions on shall include:
which features are released next
names and personalities of NPCs
which Dragginz are designed and released
which storylines are developed
ui/ux changes
etc…
We know that this will not please everybody but hope that this seems fair and makes sense given what we want to achieve with Dragginz.
Oh, what a surprise! Going from 10,000 tokens to a whopping 1 billion tokens. It’s almost like we’re dealing with the latest meme coin, not a gaming token.
Can we move up the anti spam txn burn to atleast a 1000 dkp. 0.001 won’t act as much of an anti spam. Plus it’d be really nice to have some minor burn.
Im not sure what’s going on. I just changed the fee from 1_000 to 100, and it didn’t do what I intended it to do. A bit swamped right now but will take a look in a bit.
I sincerely hope you will decide otherwise and-or will support any community-proposal that will end this lock-up. People have locked this token with the expectation of rewards. Yes, mine (some part) has 100 years too.
Besides that, you do want Dragginz to become decentralized? So you do want people to lock-up their token? And you don’t want the majority of voting power for yourself?
Then I see no other option then to:
End the lock-up for everyone;
Burn or airdrop the tokens you don’t want voting power over;
Keep the remaining tokens as a fixed % of voting power;
Have some form of reward in $DKP, but never more then 10K^X.
Maybe I am too tired to figure out the link, but I dont think DKP’s inner tokenomics will ever be able to impact anything ICP’s node provider rewards create.
