Motion & Solution to Change the Mintpass Core Raffling System

Preamble: Author: @verbdan Type: Governance Implementor: Founder’s DAO Community Member

Created Date: March 9, 2022

Summary:

This proposal offers an alternative answer to the MetaHero core(s) raffling system, to apply a more balanced approach to what is an already great community focused giveaway system, using the MintPass1 (MP1) ERC-1155 holders. This new adjustment should be what I understand as (at its simplest form) an O(1) complexity solution, and if implemented would increase the number of core holders substantially, in contrast to the current raffle system.

Motivation:

This adjustment is being proposed due to a constant murmur from the MP1 holders, after each raffle, to be able to contest against the larger holders. The community is under the impression that holders with a small amount of MP1’s are dealing with dependent probability scenarios; where they have an ever increasing chance of their ticket being selected per core drawn, this is not the case. I hope to make that argument and push for a stronger opportunity between each selected core winner for a new wallet to be drawn.

Specifications:

Currently prior to the raffle, a snapshot is taken of all MP1 holders, 1 entry per MP1. Following this event, the raffle for each of the cores is held through the Chainlink VRF, 12 Core MetaHeroes at a time and sent to the wallets of each winner. The adjustment to this procedure would be to instead, aggregate the wallet holdings for each wallet, assign weighted hold 12 separate, though consecutive raffles. Between each raffled core, a step is taken to remove the winner from the snapshot, then continue the raffle. With the psuedo-removal of the MP1 from the raffle pool, in this way, the likelihood of each for each holder winning demonstrably increases.* Regardless of the size of the winner.

*Slides have been created, dm to see visual demonstration of both systems next to one another; as attachments are not allowed.

Benefits:

The benefits to the proposed changes to the raffle system, may feel like a small gripe of the little man not having an opportunity to win, but it extends further to that. It extends an opportunity for future drops to also have this balanced approach, as well as other communities and projects continuing to look to PV for innovation and balanced drop mechanics. While this proposed change, has the ever present opportunity for large holders of MP1’s to spread out their chances of winning multiple, it measurably expresses a greater probability for smaller holders to realize the odds they actually hold, in these independent probabilistic scenarios.

Drawbacks:

Current and future core winners/holders lose potential of winning concurrently, which is a change in the original framework. This is likely to be frustrating to any that have already won, understandably, as they can no longer win multiple. This could lead to a short term dip in price, but we aren’t here with that as a leading concern. Alternatively, large holders could move NFT’s to subvert this proposed change’s intention; I wage this is not as big of a concern after first glance (in this case). Seeing that in our case we have 72 cores left to raffle off to the community, we can manually (I’ll volunteer if needed) check transfers and validate any suspicious core wallet activity after a snapshot and remove those wallets. This solution lacks a dynamic call for future, more robust, potential use cases, but for our remaining core raffle situation it works.

Outcomes:

The proposal would be deemed successful, when each of the remaining raffled cores (72) end up in the wallets of more collectors than the first half of the prized collection; that is: greater than 69% (or greater than 51 winners) of newly released cores end up in diverse wallets during the raffle selection.*

*This is determined from identifying staked cores and where they were transferred from, against wallets also holding cores. Purchases, trades, etc, not considered.