ILV to sILV2 Conversion

[lime plume]

Have a one way swap on L2 where ILV can be converted to sILV2.

The ILV would be burnt resulting in a deflationary token.

If and when staking moves to L2 revdis and leaderboard rewards will be paid out in ILV.

Some may want to re-invest that back into the game. Instead of paying ETH gas fees to bridge ILV off, swap, then bridge back with a spendable currency we can do this.

Everyone is happy, those who want to easily re-invest their rewards back into gameplay and those who want to hold/stake that ILV.

Thoughts?

[polar patrol]

I might have once been for this idea but I no longer can be. sILV2 is a cancerous thorn in the side of the DAO. sILV2 should be excised before its token supply grows so large that the DAO will be forced to provide in-game products without compensation.

Unless the DAO is intending to pay for its expenses only through private sales of the ILV tokens in the treasury there needs to be revenue from eth being used to buy fuel.

[karmic rampart]

How about Fuel purchases with ILV instead?

[lapis remnant]

Personally i don't think we need anything else which will take away from the DAO actually receiving the $$$ it needs to continue. We should focus on building the treasury through revenue before considering the need for deflationary tokenomics

[glossy mulch]

I don't think everyone wins. The DAO misses out on the ETH from the motivated player that wants to re-invest in the game. Bridging ILV converting to ETH bridging back to buy fuel with that ETH, might be a headache but is better for RevDis and better for the DAO.

[lime plume]

I’m thinking more for the people with less spend. Anyone who would be putting large amounts into this game likely wouldn’t choose this route.

I’m thinking the person who earns 1 ILV on a leaderboard and stakes it. They have .1 to claim with revdis. Give that person a way to reinvest into the game.
No one of going to spend 100s of dollars in gas to bridge and swap .1 ILV.

I get the pushback, but ultimately I’m trying to think up a solution for those small wallets. If we want mass adoption most wallets will be small.

Heck I don’t even have a small wallet, but I’ve been sitting on .16 ILV since revdis from land. Makes no sense to claim it.

[primal thorn]

Put staking on IMX and then bridging is about 5$ and staking is gas free.
5$ may be an understatement. But definitely not more than 25$ right?

[glossy mulch]

I think the small wallets could also just be motivated to play more until they have enough worth bridging (I don't have to bridge but I am slowly collecting Arena Awards in a similar vein). I think your right we need to find a way to cater to small wallets (might just be a different reward other then ILV) but like @primal thorn said after staking v3 and after we have determined a need.

[lime plume]

To bridge ILV off, swap to ETH and bridge ETH back onto to IMX. Just guessing, but right now that could easily be 50-100$ in gas

[lime plume]

The other option is just to put a DEX on IMV like Ronin has. Gas free swaps. But I’m not sure that is something IMX is supporting right now.

[chilly sluice]

I would say just make ILV usable for all transactions. It still goes through Revdis, just isn’t a buy component.