$LORDS Emissions & Unlock Proposal

Background

StarkNet has taken longer to come out of Alpha than we anticipated (although it's shaping up to be an even mightier beast than we had dreamed of).

The Journey staking contract was initially estimated to take 10 epochs (weeks), extended a further 5 epochs at a reduced $LORDS reward rate, and then extended indefinitely at another reduced rate until StarkNet launches Beta.

We are currently in epoch 33 and we are looking at up to another 10-20 epochs until StarkNet Beta is launched - a far larger amount of $LORDS being emitted than we had planned for.

The side effect of this has been a longer period of token distribution running without sinks from the game (e.g the marketplace and AMM) than initially planned - and a longer period of Realm Lords being unable to claim their earned $LORDS.

Another consequence of this is that there will be less $LORDS for game emissions. We plan on emitting these $LORDS over 7 years, so the rewards for in-game actions will be reduced. Note - the $LORDS emitted during the Journey staking contract will be the largest reward by a significant margin, meaning a little now can go a long way in the future.

The longer this goes on, the higher likelihood of extreme volatility when the game does launch and everything is released, which may have unintended consequences for gameplay.

We believe reviewing this schedule could be in the best interest of our future eternal game, community, Realm Lords and $LORDS holders.

Note:

• Only settled (staked) Realms can vote.
• If Option 1 wins, but Option 2-5 is greater in total, we will do a second snapshot to decide between Option 1 and the runner-up (as votes in favour of change have a higher spread).

Proposal

Option 1

A 0% reduction in current emissions and no tokens made claimable on mainnet now (i.e remain as stands currently)

Both the Galleon and Carrack will continue emitting the same amounts until StarkNet is in Beta, and the earned $LORDS will only be claimable directly on StarkNet once we’ve launched.

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Option 2

An immediate 75% reduction in emissions (49/43.75 $LORDS per week) and 50% of earned tokens made claimable now

Both the Galleon and Carrack will have a 75% reduction (Galleon: 49 and Carrack: 43.75) in emissions as of the next epoch.

50% of earned $LORDS from the Galleon will be made claimable on mainnet ASAP, while the remaining 50% (and $LORDS earned between now and StarkNet Beta) will be claimable directly on StarkNet at the time of launch.

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Option 3

A 100% reduction in emissions over 4 epochs (25% per epoch) and 100% of earned $LORDS will be made claimable now over 4 epochs (25% per epoch)

Both the Galleon and Carrack’s emissions will reduce by 25% (49 and 43.75 respectively) for 4 epochs until 0. Emissions in the Journey staking contract will stop after this.

$LORDS earned in the Galleon will be made claimable on mainnet in drops of 25% over 4 epochs.

$LORDS earned from the Galleon during these 4 epochs will be made claimable on mainnet at the end of the following epoch.

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Option 4

An immediate 100% reduction and 100% of earned tokens made claimable now

Both the Galleon and Carrack’s emissions will be reduced by 100%, and all earned $LORDS from the Galleon will be made claimable directly on mainnet.

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Option 5

An immediate 75% reduction in emissions (49/43.75 $LORDS per week) and 100% of earned $LORDS will be made claimable now over 10 epochs (10% per epoch)

Both the Galleon and Carrack’s emissions will reduce by 75% (49 and 43.75 respectively) immediately but will continue until StarkNet is in Beta.

$LORDS earned on the Galleon between now and StarkNet Beta will be claimable directly on StarkNet at launch.

100% of $LORDS earned on the Galleon before this change will be made claimable in 10% drops over 10 epochs.