A 100 person strong micro DAO
Guildmasters control the Treasury, and are charged with two very important Guild tasks, one a month. Voting on proposals to add or remove blockchain game NFT & Token assets from the Treasury. And voting on whether to reinvest or distribute a portion of Treasury profits. Voting will take place on the 25th, 26th 27th, 28th, 29th and 30th days of every month. With the exception of February. Allowing a 6 day period for Guildmasters to make proposals, and cast votes, at their own leisure.
The Guild will make money every month through the treasury in phase one and through both the vault and the treasury in phase two. Guild profit is made by acquiring game assets and either selling them at a profit later, collecting token or NFT dividends produced by the assets, or renting the assets. Below is overview of how these profits are distributed.
30% of Treasury profits derived from asset sales and dividends produced by assets are distributed to Guildmasters on a monthly basis for the first 20 months.
Another 30% is reinvested into new assets that have passed our process of selection timeless test. The remaining 40% is reinvested (through a buyback pair) back into AFT liquidity, liquidity which the Treasury passively earns from through swap fees. Phase 1 officially begins when the first Guildmaster NFT is sold. Voting officially begins when all 100 Guildmaster NFTs are minted into circulation.
After 20 months have passed, phase two becomes active and the Vault will begin to produce rental income for the guild through the Ape Fun Arcade. Powered by the Ape Fun Token that we've been stabilizing through liquidity adds. At this point our monthly allocation of AFT has been exhausted and we will lock the liquidity pairs we do have. At this time the Banana Kingdom will be getting close to open access. Once Open Access is achieved, 2% of Banana Kingdom profits will be sent to the treasury every month. We'll also be adding liquidity to the games 6 base tokens. In short, phase two brings 3 additional passive income sources to the treasury; arcade rental income, banana kingdom income and swap/trading fee income (see below).
In phase two 20% of Treasury and Vault profits derived from asset sales, rentals, dividends and passive income sources are distributed to Guildmasters on a monthly basis. The remaining 80% is used to purchase additional assets (50%), fund development and maintenance of the Arcade (18%) and add liquidity to the games 6 base tokens (12%, across all 5 tokens) Banana, Wood, Ore, Bone, Hyde and Shard. Which will net us additional passive income, from trading and swap fees. As was the case with our AFT liquidity adds.
To become a Guildmaster you must hold one of the available 100 Guildmaster NFTs. Guildmaster NFTs will be available on Ethereum through a public sale that will take place at the end June 2022. Details/Dates TBA. Guildmaster NFTs have a max supply of 100, 4 of which are out of circulation as they're held by team members from the guild and game. No additional NFTs or positions will ever be made available in compliance with SEC laws and regulations.
Guildmasters have the larger part of any given month to pitch proposals and participate in open discussion about anything they'd like via the Guild Hall, one of 3 private Discord groups that can only be accessed by owning a Guildmaster NFT.
On the 25th and 26th days of every month, each member with a proposal for a Treasury action is allowed a 48 hour period to submit that proposal to Smash, the Guild Hall Clerk. All proposals submitted, will be added to the Pre-Session Channel - the second private Discord channel - as they are received and Guildmasters will then be able to vote on which proposals will make it to the Active Session. Only the Guild Hall Clerk can post in this Channel.
Not every Guildmaster is required to vote in pre-session but a supermajority is needed for a proposal to make it to our Active Session. A pre-session supermajority is ⌈(G+1) / 2⌉ where G is equal to the total amount of member votes cast in favor or not in favor at the close of pre-session voting. In short, a minimum of 51% of the members who voted, needed to have voted in favor for a pre-session proposal to make it to an active session.
Proposals that are approved in pre-session then go to the Active Session Channel - the third private Discord channel - for a final vote. All 100 Guildmasters are required to vote one of three ways; in favor of, not in favor of, or to abstain, from voting on the listed proposals.
For a proposal in Active Session to pass, a supermajority must vote in favor of passing the proposal. An Active Session supermajority is ⌈(G+1) / 2⌉ where G is equal to the totality of Guildmasters who did not vote to abstain. In short, 51% in-favor vs 49% not in-favor, will be needed for a vote to pass.
If an Active Session proposal is not voted on by all Guildmasters, the Active Session channel remains locked to new Guildmasters and the session remains active for existing Guildmasters until the the next Session, or until the 100th vote is casted, whichever comes first. If a vote has not been recorded by the beginning of the next Active Session, the Guild Hall Clerk will record a vote of abstinence and the proposal will then either pass or fail. Keep in mind that not voting can hold proposed Treasury actions up, for up to 30 days, which can hold up sales and ultimately hold up Guildmaster pay.
Proposals are your submissions for a Treasury action. The treasury can take 4 actions as follows:
- 1.The Treasury can sell, or list for sale any Treasury asset.
- 2.The Treasury can acquire any blockchain game asset that passes our Process of Selection's timeless test, using available funds. Available funds are any tokens (fungible tokens) that the treasury holds on the 1st of every month, that are not earmarked for Guildmaster pay. Guildmasters will have a private dashboard for this.
- 3.The Treasury can vote to move an asset to the vault for future use in the Ape Fun Arcade. Vault assets may produce dividends. Those dividends are automatically reinvested in more of the underlying game's assets which subsequently grows the vaults assets passively.
All proposals that don't recommend the taking of one of these 4 actions are thrown out by the Guild Hall Clerk and don't make it to the Pre-Session.
A Guildmasters job is to keep a keen eye on budding game projects in the space and on what assets we can earn from, and what assets can be easily rented in the Arcade down the line. Assets that we add have to meet, at a bare minimum: The timeless test, have MMO elements, and a have doxxed team. Doxxed means that the projects team members are not anonymous.
Timeless game assets do two things, and they do it well:
Firstly, they allow a player holding a high-value asset, the ability to earn a compelling amount of valuable NFTs or Tokens through either active gameplay or passive/active staking. Compelling can be viewed as recouping the initial investment in a maximum of 120 days. We say "high-value asset" because if a free to play game allowed all its users to earn a good amount of valuable NFTs and Tokens with low-value assets, that game and its assets won't retain their value. We wrote about this here in the what we're about section. With that said, the ability to earn value we deem compelling, will keep a game, and its assets, timeless. Meaning the value will not erode over time.
Secondly, the game itself must have a compelling and robust progression system. Coupled with what we call an 'infinite ceiling'. An infinite ceiling is just what it sounds like, it allows for continued upward mobility in a game. A game with an infinite ceiling, coupled with a robust progression system, remains timeless. It can accommodate big spenders and high skilled players who, despite the amount of time or money spent playing the MMO, can never quite reach the top. Another version of 'infinite ceiling' can be found in our title, the Banana Kingdom. This type of infinite ceiling has a defined top that can be challenged monthly for a large reward. A robust progression system is one with a pinnacle at every level of progression. Allowing low spending and low skilled players to still achieve a version of "the top" crafted and tailored to their spending and skill class.
Note: We don't need the game to be cutting edge. Like for example; promising an augmented reality setting or console launches. We just need it to do the first 2 things. In doing these 2 things, the game is setting itself up to remain timeless, like say, League of Legends. *Tech in and of itself isn't timeless.
If the title has passed our timeless test, we've arrived at the point where we can browse the assets, looking for 2 addition distinct things. 1. Which of their high-value assets won't succumb to degradation through the raising of the ceiling. In short, what assets will always remain at the absolute ceiling in a long chain of new asset releases. Yes, this is important too. We don't want to own a level 5 legendary sword to find out later that there's a level 10 god-level sword. 2. Is it a rentable asset. And we're not looking for assets that have a built in rental feature, although that's a plus. We're looking for assets someone would enjoy renting. If a title passed our timeless test it typically means that they would. However we look at other aspects like story, immersion potential, world building and so on, and we look at this on a case by case basis, putting certain assets into rental classes. Short term rental potential (1 hour to 1 week) medium term rental potential (2-4 weeks) and long term rental potential (1-6 months).
But let's push forward. If a title fits these first 2 sets of criteria, and sub-criteria, we'll move on to the last set of criteria.
Finally, we look for games that have a budget to do all of the above over a five year timespan, with a business model that'll allow them to continue to offer an infinite ceiling. Is the game attracting potential buyers to it's future sale of high value assets? Or is it funded and incubated by a blockchain native arm of a traditional venture capital organization? If not, is the team funded by other means?