Transition from a Dual-Token Economy to a Single-Token Economy Using Just $MAGIC

This year's bear market has allowed us to review the dual-token model as used by popular games like Axie Infinity and we have come to the conclusion that a single-token economy would likely benefit Cosmic Universe more than a dual-token economy.

Proposal: Transition from a Dual-Token Economy to a Single-Token Economy Using $MAGIC

-Transfer all use-cases currently assigned to COSMIC directly to MAGIC, thereby immediately increasing utility for MAGIC. -Accurate COSMIC:MAGIC conversion ratio that burns COSMIC and provides the corresponding $ amount in MAGIC -Reduce emissions for the COSMIC-USDC LP to zero, transferring its emissions to the MAGIC-WAVAX LP -Replacing all uses for COSMIC in Dawn of Crypton Expeditions to MAGIC

Benefits of Switching to a Single-Token Economy (MAGIC):

-Concentrate liquidity into MAGIC LPs so that there is greater liquidity for MAGIC -Significantly increase the number of use-cases for MAGIC -Avoid game economy issues plaguing games like Axie Infinity

• Never-ending fight for relevance of the secondary token
• "Play to Earn" core definition of the secondary token
• "Loss of distinction" created when defining true attribution of a task to its corresponding token -Become more appealing to investors

We strongly believe transitioning to solely using MAGIC will benefit Cosmic Universe over the long-term, and this would be the ideal time to make such a change while the markets are the way they are and while we are small.

Voting Time: 30 Days

If the community governance vote passes, we will arrange for the COSMIC to MAGIC conversion to be done starting on January 1st, 2023 or a few days after given the holidays. Once the Bridge from Harmony to Avalanche is closed (December 31st, 2022), that is when we can activate the shift to a single-token economy. Anyone who has not migrated their NFT assets from Harmony to Avalanche by that point will still be able to receive their assets on Avalanche, so not to worry for those who never migrated, and we will provide more details on that process later this year.

Note: This process has no bearing on Dawn of Crypton's initial release timeframe, as COSMIC was going to be used for Expeditions, not Elven Adventures which is being released first.