Episode II Structure

Summary

Adjust Episode II with a new supply, pricing and rarity structure.

Abstract

Episode II is set to release in July.

This proposal looks to change key parameters to better reflect current market sentiment and the state of the RŌHKI community.

Episode I - Desperado was minted on May 16th.

There were 500 Episodes minted at 0.1 ETH, netting 50 ETH in primary sales. The breakdown of these funds can be seen on 0xSplis here.

Since then, ETH has seen a significant decline in price and the overall state of the market has turned far more conservative.

Despite selling out in less than 2 hours of public mint, this proposal looks to be realistic with the current standing of the RŌHKI community, along with setting the Episode up for the best chances of success moving forward.

For Episode II, we propose to:

• Lower the total supply
• Simplify the rarity structure
• Offer a free mint to Genesis Key Holders
• Offer a free mint to Desperado Set (or all three rarities) holders
• Provide a discounted mint price for each Desperado Episode held and
• Increase the maximum mint amount per wallet

These changes are detailed in full below.

Motivation

The core team believes the current market is in a very different place from where it was when Episode I was minted.

We believe it’s most important to reward existing holders, and to adjust variables to maximize success.

This proposal looks to find the proper balance which compensates contributors for the work done to create Episode II, along with allowing holders to mint at discounted prices.

In doing so, we want to optimize for retention among collectors, and allow the community to see that the team is responsive to ongoing market conditions and trends.

With a Treasury Buyback conducted for Desperado, there is still room for growth and we believe the following changes are the best way to do so.

The learnings from Episode II will be used to inform the structure of Episode III, up until an optimal schema is found for all Episodes moving forward.

Specification

The following parameters are proposed for Episode II:

Total Supply: 250 NFTs

Rarity Tiers:

• Static (200)
• Immersive (50)

Pricing:

• Genesis Key Holders: Free
• Desperado Set: Free
• Desperado Holder: 0.05 ETH
• Public Mint: 0.1 ETH

To summarize the proposed changes:

• Reduce Total Supply from 500 Episodes to 250 Episodes
• Remove the Dynamic Rarity Tier
• Grant Genesis Key Holders 1 free mint per Key
• Grant those who hold all three Rarities of Desperado (aka a Set) 1 free mint per Set
• Grant Desperado Holders a discounted mint price of 0.05 ETH for every Episode held.
• Increase Maximum Mint from 5 to 10 Episodes per wallet for the public sale.

The Episode II mint will be sequenced as follows:

• Free Mint: 24 hours at 0.00 ETH
• Discounted Mint: 24 hours at 0.05 ETH
• Public Sale: 48 hours at 0.1 ETH

Any unsold Episodes at the end of the Public Mint will be minted directly to the Community Treasury.

All Episodes will be revealed 48 hours from the start of the Public Mint, at which time minting will close.

Further discussion around each of the above topics can be found in the #governance channel in Discord.

Benefits

• Adapt to market conditions
• Provide a higher chance of sellout
• Reward existing holders

Drawbacks

• Make significant changes in response to Episode I
• Reduce supply for potential new holders to collect
• Reduce total primary sales