BFIP-12 Flywheel Reactivation

Summary

BFIP-12 Flywheel Reactivation is a proposal to distribute BattleFly DAO’s allocation of PlayFi $PLAY tokens in a fair and transparent manner by reactivating the Flywheel staking game. If this proposal were to pass, gFLY holders would earn their share of vesting $PLAY based on the amount of gFLY or gFLY LP tokens they staked and the duration in which they were staked.

Proposal

A points system would be introduced called BF-points, which are earned by gFLY and LP token stakers. This would work as follows:

• 70% of the DAO’s total $PLAY allocation will be directed to gFLY lockers (whether in single sided staking or the LP pool). The remainder will be retained for ecosystem incentives to reward NFT holders who play our games. 5% of the $PLAY that releases at launch will go towards a once off airdrop for BattleFly’s most committed players since inception.
• Staking gFLY and/or gFLY-ETH LP tokens will earn users BF-points for the $PLAY vesting distribution. LP tokens will receive 3x the BF-points of single sided gFLY staking.
• The BF-points that users earn between now and TGE will determine their share of the initial $PLAY distribution to the BattleFly Treasury on launch of PlayFi mainnet. This $PLAY will be claimable at TGE. BF-points will reset after the initial distribution.
• After TGE, users will continue to earn BF-points that go towards weekly vesting of $PLAY from the BattleFly Treasury, distributed at the end of each week. BF-points will reset at each distribution.
• Snapshots of the leaderboards (for staking and LP) will be taken at random times. Bonus BF-points will be given out to the top leaderboard users each week.
• Locking gFLY or LP tokens for a longer duration will increase the rate of BF-points earning.
• gFLY and LP token stakers will be able to claim $PLAY tokens based on their BF-points total at TGE and at each weekly distribution.
• BF-points will not be transferable.

Rationale

Reasons to Accept:

• Using gFLY and LP tokens as a weighting system for $PLAY distribution creates a fair and transparent system for DAO members to receive $PLAY.
• Re-purposing the Flywheel decreases the lift required to set up the $PLAY distribution to DAO members.
• Retaining some $PLAY within the DAO treasury allows for incentivisation and reward systems in the BattleFly game loops.

Reasons to Decline:

• 70% to gFLY and LP token stakers is either higher or lower than you think it should be.
• The BF-points system isn’t how $PLAY distribution should be determined.

Indicative Poll

Accept: Move forward with the Flywheel reactivation for $PLAY distribution as outlined in this proposal. Decline: Do not reactivate the Flywheel for $PLAY distribution.