Flannelhandler Proposal: Abolishing the 77/177 Day Utility

PROPOSED BY Flannelhandler:

INTRODUCTION

There have been changes to the direction and application of the LTOAD NFT project since it's inception in 2022. This -among other things- included the hiring of MDMA and Mike on the DAO's expense, revamping the revenue model and website, all contributing to an overall "vibe-change" to not only promote transparancy and decentralization by fully moving power to the DAO -and therefore LTOAD holders-, but also to have the general project mission better adhere to the true OG $LINK Marine spirit of spoonfeeding nolinkers, being all in this together, etc. etc.

The more LTOADS grows and finds its shape, the more we are confronted with certain planned aspects that simply do not fit our current modus operandi. The original founders set out certain expectations and ambitions that no longer resonate with the current vibe, or have no practical use in our current setup.

INTENTION OF THE PROPOSAL

An example of the latter is the proposed "77/177 day utility", promising some form of additional utility for folks that held the NFT for more than 77/177 days. The author proposes to scrap this feature, for the following reasons.

RATIONALE

Tiered utility that rewards longer term holders and active/commited community members is indeed a good thing to have, but seeing as LTOADS already has several of these tiers in place (number of LTOADS held, amount of $TOAD held, amount of $PPT held), this aditional tier simply makes us now have to "invent utility" for the sake inventing utility. This is a pitfall many crypto projects run into.

When drawing up LTOADS, the original founders most likely had the best intentions with this envisioned perk, but now that things are in motion, it has proven to be a simply unneeded extra metric that's difficult to integrate into any practical application. It is a redundant mechanism as we already have several "loyalty based" tier indicators in place, therefore it should be abolished.