Adding Deflationary Mechanisms

General
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Hey Hoolis - I have given significant thought around ecosystem and $KARRAT sustainability based on the conversations of a number of community members in various channels. It is my belief that now is the time to start focusing on deflationary mechanisms for $KARRAT.

Based on recent announcements, it appears that a slew of products are being released soon from our initial launch partner, My Pet Hooligan. These include a new patch to the game, NFTs back in the game, Street Kred, The Others, a Native Web3 Marketplace, the WinVote Governance Portal, and console support. Additionally, My Pet Hooligan is planning on showcasing our ecosystem and community at the upcoming gaming event PAX West. We expect this to over time lead to an influx of new players into the My Pet Hooligan ecosystem. Importantly, for us as a DAO, these products will likely all include avenues for players’ to spend $KARRAT. Now is the time to think how we can turn this spent $KARRAT into deflationary mechanisms to help reduce the effective supply of circulating $KARRAT. This brings the relationship between $KARRAT and My Pet Hooligan even closer together.

Do you guys agree it’s time to start adding deflationary mechanisms? In my mind, we should have a percentage of all $KARRAT spent go to a DAO controlled address that can’t be touched or moved without a governance vote. This would serve similar to a burn, while providing us with some flexibility. With enough community support, I believe we can make this happen!

This year has been incredible with the creation of new game modes, AI characters, and the launch of $KARRAT on Coinbase. The next chapter is starting now. Let’s continue to show and introduce the world to My Pet Hooligan.

WE ARE MY PET HOOLIGAN

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I think adding some $karrat to a wallet controlled by the DAO is a good start but even better would be to maybe send some to a DAO and then actually burn a percentage so they can’t be used and this makes it actually deflationary. Once the DAO decides to spend the Karrat tokens they need to be sold so it really doesn’t make it deflationary.

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@FlyingFalcon I support the idea looking at ways to make KARRAT deflationary 100%

I’m not part of any other DAO, not have I every seen DAOs from up close. My biggest fear here is that we won’t get a single proposal approved due to too little delegations or simple “hooligan” behavior of voting against anyone else’s proposal.
So storing some of the spent KARRAT in a DAO wallet, seems like a great sink, but is certainly not the best way imo to make the most of KARRAT and MPH.

On the other hand, we do have a team that most of the community are 100% devoted to and rallying behind: AMGI. Obviously this is a controversial take, but I rather see spent Karrat fees ending up in their control (for Development and continuity of the project) rather than giving it to a DAO.
This should obviously come with a set of rules for spending, but I rather focus on those rules and give them freedom to build, than to struggle finding a proposal enough people can get behind in a community of 50 different cultures and 100x more different characters.

Making KARRAT deflationary for me would mean:

  1. Sinks in-game, such as skins, weapons and emotes purchases (% fee to be burned)
  2. Mint of the Others (% fee to be burned and % locked up in The Other until burn)
  3. Buyback and burn, based on AMGI income of selling tech (such as Immi, Hooligram, WinVote etc).
  4. Tournament entry fee burns
  5. Milestone Burns: Set periodic burns based on milestones, such as reaching a certain number of active players or completing development stages of the game
  6. Burn tokens to buy NFT traits. All karrat spent on NFT traits are burnt 100%
  7. Rental fees. If Hoolis are rented out, the rewards earned by the person playing with the rented Hooli will be partially burnt, whereas if a NFT holder plays, those tokens are not burnt.

Just a few ideas of course :wink:

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I would elect you for Karrat DAO president :grinning: