Summary

Governance vote to dictate the future operational priorities of Lifeverse

Rationale

The LifeVerse Council is seeking community feedback on which operational aspects the DAO should prioritize on a go-forward basis. Having been focused on building treasury assets since June 2022, the treasury has grown from approximately $275k in June 2022 to approximately $2.7 million as of April 2024 while total expenses have equaled approximately $750k. Expenses paid to date include, among other things, the cost of headcount (e.g., council compensation, developer compensation, and community moderators), art assets, music, sound design, infrastructure fees, the cost of incorporation, and all related organizational and legal fees.

To date, the council has explored various types of opportunities and operational pathways, including, but not limited to:

1. Game development
2. Partnership/interoperability investments
3. Infrastructure investments
4. Reward-driven community events

The Council estimates, assuming no materially negative macro impact to the crypto industry occurs, that incremental revenue generated by the treasury will equal approximately $500k per year (assumptions include approximately 40k $MAGIC per month from now until August 2024 and the remainder due to projected investment returns on the treasury). As such, the council would like to take a more pointed approach with the future prioritization of the DAO.

Proposal

The Council is putting forward three options, which are outlined below. As always, we are happy to accept community feedback and revise current options or add new options as appropriate. For the avoidance of doubt, the council is recommending the community proceed with Option 1.

In all options, funding may be spent on interoperability partnerships, with community approval (e.g., deeper integrations in Knights of the Ether and other ecosystem partners).

Note

Options 1 and 2 are intended to be sustainable operational paths, while Option 3 carries a high probability of causing the treasury to wind down over time due to accelerated rewards.

Option 1

• Engage a team that specializes in game development to prioritize the development of a “single A” web3 game specific for Imbued Souls
  • Anticipated timeline once team is engaged before MVP is released: Approximately 12 months
  • Anticipate approximately 6 months to engage the team
• Council will continue to seek attractive risk-adjusted returns for the treasury
• At their sole discretion, the council may distribute rewards to the community by way of claims or airdrops

Anticipated Expenses:

• Council: $96,000 annually*
• Game Development Team: $600,000 annually
• Hosting / Infrastructure: $7,000 annually
• Organizational: $12,000 annually
• Total: $715,000 per year

Option 2

• Medium funding will be spent on the development of LifeVerse gaming products
• Additional funding will be earmarked for game development, for example:
  • COP may receive material enhancements and major balancing changes
  • The council may endeavor to engage in the development of more in-depth but still relatively inexpensive games
• Council will continue to prioritize risk-adjusted returns for the treasury
• At their sole discretion, the council may distribute rewards to the community by way of claims or airdrops

Anticipated expenses:

• Council: $96,000 annually*
• Game Development Team: $200,000 annually
• Hosting / Infrastructure: $7,000 annually
• Organizational: $12,000 annually
• Total: $315,000 per year

Option 3

• Minimal funds will be spent on development of LifeVerse gaming products
  • COP will still run seasons with small, incremental balancing changes but without material changes
  • The council may endeavor to engage in the development of other similar, inexpensive games, with the primary goal of distributing game rewards to the community
• Council will continue to prioritize risk-adjusted returns for the treasury
• At their sole discretion, the council may distribute rewards to the community by way of claims or airdrops
• Anticipated to lead to dissolution of the treasury due to projecting the distribution of game and community rewards that exceed the projected revenue of the DAO.

Anticipated expenses:

• Council: $96,000 annually*
• Developers: $30,000 annually
• Hosting / Infrastructure: $7,000 annually
• Organizational: $12,000 annually
• Total: $145,000 per year

*Council expense is denominated in $MAGIC and is expected to fluctuate in USD-terms based upon the price of $MAGIC.

Snapshot Block

Snapshot for voters was taken at block 213705013.

Voting Period

The voting period begins now and will end in 3 weeks, on June 23, 2024, at 23:45 UTC.