TIP 1: Shoe Part Rarity Amendment for Token Inflation Prevention

[ Proposal Background ]

Ahead of the NFT reveal, there were many opinions from holders and the community suggesting amendment of the rarity of shoe parts. In particular, there were massive concerns about the potential inflation that would occur if the Rare or higher rarity shoe parts were released to the market from the beginning at reveal. The team also sympathized with this, and we decided to the make amendments on the original plan of rarity at reveal.

However, in order to finalize the decision on this, we were unable to proceed without DAO voting because we judged that it could be an act that would give big changes to holders who had previously purchased in anticipation of high rarity. As a result, we would like to decide via DAO voting to implement a decentralized method before rebuilding with the method that best reflects the opinions of the holders.

In order to prevent early occurrence of the token inflation problem, the team hopes to operate the service by changing the plan as below. If this amendment is passed by more than half of the votes cast, we will hold an event to compensate holders who purchased our NFTs after 9/14 announcement, in anticipation of high-rarity parts.

[ Proposal ]

• Making amendment in reveal rarity plans

Original plan (announced on 9/14)

• Common : 81%, Uncommon : 10%, Rare : 5%, Epic : 3%, Legendary :1%

Amended plan

• Common : 90%, Uncommon :10% at reveal
• “Airdrop” 1 Uncommon magic spray, 1 rare magic spray for each NFT shoe "parts".
  • Uncommon magic spray : 10% probability to make any common shoe part to uncommon shoe part
  • Rare magic spray : 10% probability to make any uncommon shoe part to rare shoe part
  • Epic and Legendary shoe parts will be made through additional magic sprays or forging shoe parts in the future.
  • Gradually making Common : Uncommon : Rare = 81% : 17.1% : 1.9% in parts
  • Shoe combinations and probability
    • Shoes composed of 4 common parts = 43% (=(0.81)^4)
    • Shoes composed of 3 common parts, 1 uncommon part = 36% (=(0.81)^3*(0.17)*4)
    • Shoes composed of 2 common parts, 2 uncommon parts = 11% (=(0.81)^2*(0.17)^2*6)
    • Shoes composed of 1 common part, 3 uncommon parts = 1.6% (=(0.81)^1*(0.17)^3*4)
    • Shoes composed of 4 uncommon parts = 0.08% (=(0.17)^4)
    • Shoes with at least 1 or more rare parts = 1-(0.98)^4 = 7.7%
• Gradually making 43% common shoes, 49.3% uncommon shoes, 7.7% rare shoes among totals shoes

[ Pros & Cons ]

Reason to Agree - If high-rarity parts with high stats are released from the beginning, users of those parts are likely to mint large amounts of tokens from the beginning, dump them on the market, and sell continuously. High initial selling-pressure leads to a drastic drop in initial token prices and inflation. Therefore, if the high-rarity parts do not get birth at reveal, concerns about the early sell-pressure or dumping are relatively reduced, making it easier to control inflation, allowing early users to reliably take returns. - In the process of creating parts with high-rarity, it is possible to create incinerators for utility tokens or NFTs, which keeps the token economy stable and prevents inflation, increasing the token rewards users receive. - It is too risky in terms of token inflation to release high-rarity parts before a proven incinerator features are published, which is the current situation.

Reason to Disagree - When the reveal is proceeded according to the amended plan, holders who purchased NFTs after 9/14, in anticipation of getting high-rarity parts, will be disappointed even though the odds are very low.

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We would appreciate it if you could access the snapshot link below and cast your voting rights with the NFT holding wallet.

[ Voting Option ]

1. Agree
2. Disagree

[ Voting Period ]

• 36 hours, starting from 10/4 00:00 KST to 10/5 12:00 KST (10/3 15:00 UST ~ 10/5 03:00 UST)

[ Voting System ]

• Weighted Voting