#Allow staking of land plots for ILV rewards until IL Zero is out

1 messages · Page 1 of 1 (latest)

finite solstice
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Idea behind this comes from recent discussions of land not having any use case for a long time and although 5% will be paid in case IL Zero gets delayed after OB, we don’t know at what intervals this will be done.

I don’t know the workload this would imply (apart from the contract and audit), but allowing land owners to stake their plots for some ILV rewards would alleviate at least part of their concerns regarding the delays of IL Zero and, as it stands, future post OB delay and giving land some sort of use case until it’ll be playable.

Beyond and Arena have had rewards in place since they went live so a few months of rewards for land owners seems reasonable. I think this would get the team the time and peace needed to finish the game and land owners some form of compensation.

As for the rewards themselves I think a base value should be established for every Tier - for example using the average price in the last year or average floor price in last 18 months etc. Based on this every day/week/month each tier would be given X amount of ILV exactly like the token stakers are getting.

In the fortunate case of IL Zero being ready with OB, people would just be allowed to unstake and use their plots for playing instead of receiving staking rewards.

quasi trellis
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Wish this would have come sooner tho… but def would provide incentive to hold and value beyond continued speculation and delay. Let’s get it.

eager burrow
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Would this be instead of the 5% revenue we are going to get from holding the land?

finite solstice
near adder
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It would have been fun to be staking land and acquiring airdrop points leading up to OB. I'm not sure of the use case going forward but it would add another dimension.

finite solstice
near adder
finite solstice
near adder
# finite solstice Exactly!

I was reading many of the same complaints in the Wilder Discord about their NFT assets which had no plan during development

eager burrow
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We will be compensated while we wait though as we will be getting the 5% even though we won't be the ones producing fuel.

finite solstice
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Yeah but when will we receive those 5%? Some people bought land to use fuel for their own OW runs - this way they would have to wait until they distribute the 5%
For revdis i think it's getting triggered when it hits 500ETH .. would this be the case for fuel also? we could wait for a long time for those 5%

near adder
eager burrow
finite solstice
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I think so also .. at least a good chunk of land owners bought it to finance their runs

eager burrow
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Do you want this to come from revenue?
If I stake land and get ILV, the money to pay me just comes from my staked tokens. Which may or may not benefit me but it penalizes token holders who don't own land. It isn't their fault this all got screwed up.

I would rather see some land quests we can play while we wait with ILV or extra fuel crate airdrops as rewards.

finite solstice
chrome topaz
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i like the idea of finally gettin something, they wont do it, but even if they do, it will not be worth it. they will not spare sufficient amount to make up for what they have done. theyll throw us few bucks, same as they did with the airdrop that was the biggest joke in web3, so id rather not allow them another way out.

finite solstice
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And what exactly would you want to be satisfied? Until it would be decided the amounts let's not assume and if you like the idea upvote it.
We'll cross the bridge with the values if we get there - instead you re only making assumptions to this point

chrome topaz
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just for reference, for doing the tutorial ONLY in mavia you received 12.5 of their tokens which u could have easily sold at 10$, thats like 3 minutes of work and quick download. we got 15$ in fuel pixels for 2 years

finite solstice
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Let's at least see this implemented and we'll see how it would work

chrome topaz
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i want them to finish the game, no other solution is acceptable for owners

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i would gladly throw them their 15$ airdrop back if they can use it to pay for p2e development, np.

finite solstice
chrome topaz
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no its not a solution, giving them a way around is how we ended up here, they will continue using us, this is where it must stop.

finite solstice
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Okay ... let's just agree to disagree on this one. Everyone is entitled to their own opinion 🙂

eager burrow
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Something I just thought of. F2P lands are getting airdrop points, are we also getting airdrop points along with our fuel revenue for playing? Should we be?🤔

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Sorry, I am really not trying to derail your idea, I am just trying to figure out what we are getting compared to F2P players as I think that's relevant.

chrome topaz
quasi trellis
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Gameified staking is an integral part of the Illuvium ecosystem (Beyond) and land NFTs could be a part of that. If it were, there would likely be better sales volume and FP, meaning more revenue for that DAO also. Give land as much utility as possible. Potential downside - Could ruin the game loop?
Rewards can't be too high to disincentivize gameplay... so maybe lower rewards.

I know this is a general staking proposal... but would be good to see some actual numbers proposed and system implementation.
Example:
Min staking period in order to receive rewards?
Staking Reward Amount?
T1 - .2 ilv/mo... T2 - .4 ilv/mo... T3 - 1 ilv/mo... T4 2 ilv/mo | What would this total be if all lands were staked vs. half vs 1/4 etc.

sullen isle
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Not worth the time to develop this. Keep focus on the game.

finite solstice
finite solstice
split moss
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No need to implement staking and so on. Just do a few snapshots. Any land not moved => considered staked.

finite solstice
sullen isle
opal condor
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In my view,

Upper level will wish to see what do they get in return if staking the land.
Is like a fixed deposit wait for the yearly interest received after a period of time.
Cashflow in for a period help the project operation.
But that already happen 2 years ago when bought the land.

Unless like re-mortgage the house for example,
so will be lower amount to re-stake the land.
the value of the land?, surely change in this 2 years period of time.

another question will be, will landowner willing to re-stake with lower value?

Just my opinion.

brazen orchid
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Soft staking allow the assets to stay in your wallet.
what kind of apr are we expecting from land staking?
more utility from soft staking land can be added as well
such as, production bonus, cheaper transport cost etc

brazen orchid
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staking multiplier can be implemented, if the assets got moved from the wallet the timer get reset

proud grotto
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I don't think ILV rewards make sense, as rewards will be ending soon anyway.

Better solution would be staking for higher fuel yield. The longer staked the better boost to production.

finite solstice
# brazen orchid Soft staking allow the assets to stay in your wallet. what kind of apr are we e...

The APR can be calculated as i said using a base value for each tier based on average floor price for example, but then again as you and @proud grotto said it can be a combination of things as added utility.
The fact that rewards are ending soon for stakers doesn't matter as rewards for Arena and Beyond will continue - and even if it's for a few months it's still a use case for land. I don't see a downside either if it's ILV and/or added utility.

ivory trellis
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I don't see this being timely feasible. Even if the idea has support, the time it would take to submit the proposal, get approval from the ICC and the IMC, and the development time required to implement it, IZ would most likely have launched by then.

brazen orchid
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yes.
it is a lengthy process to get an IIP approved.
a faster way to do it, ask kieran to give benefits as marketing initiative.
marketing stuff doesnt need a lengthy IIP process

grim vault
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@finite solstice
There is a known pay out for the 5% if IZ is not ready. It pays out at $500k USD or when FUEL production starts.

It's been mentioned that playing IZ during the airdrop season will get you points towards airdrops. So soon landowners will be playing towards airdrop rewards and receiving 5% of the fuel sales if delayed.

I personally think some sort of land staking would be beneficial if there was a lock up period, but I think in order to justify the increased scope to create a staking protocol for land there would need to be a reason for this longer term. It wouldnt be worth it to create something like this when we may see IZ ready at open beta or very soon afterwards.

As for the rewards, these would have to be taken from the 1m ILV set aside for in-game rewards which could be done.

I don't think this would hurt to form into a proposal and submit to the governance channel. As @plain ingot mentioned in the latest town hall it's important these ideas get heard and even if it gets rejected it's now an idea that has been discussed with the IMC and team and could be considered at a later time.

finite solstice
chrome topaz
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that 500k like means 7.5$ for t1? right? : D

grim vault
frigid swallow