$WRLD Contract Upgrade - More Player Transaction Throughput & Developer APIs

Gm! ArkDev here again.

The response to our initial proposal around upgrading $WRLD is clear, we need to split out the contract upgrade and token cap potential changes into their own proposals, so that's what we're doing.

This proposal is purely for upgrading the underlying $WRLD token contract.

Why we believe an upgrade is necessary

The existing $WRLD token contract implements the default ERC2771 Forwarder used for gasless transactions. This forwarder tracks it's own set of internal nonces on behalf of the wallet a gasless transaction is signed by.

Nonce tracking in the default forwarder is designed such that it must be incremental. This means like regular blockchain transactions a nonce of 0 must have been used before a nonce of 1 for a gasless transaction on behalf of a player wallet in our case.

The problem here is that the way this default implementation is done, a player wallet must wait for the next block to submit another gasless transaction, otherwise the forwarder will revert an attempted gasless transaction that has a nonce that does not line up with the expected nonce.

Additionally, the exiting $WRLD contract is not configured in such a way that MetaFab APIs can be used with it as it currently is implemented. The reason for this is because the existing forwarder cannot be upgraded to a MetaFab compliant forwarder for gasless transactions.

Upgrade Pros & Cons

We want to be clear to the community what the pros and cons of such an upgrade mean.

Pros:

• Player transaction throughput will now be able to scale, players won't have to wait 5 to 10 seconds between each in-game transaction and can submit transactions as fast as they desire, all gaslessly.

• The new implementation will implement support for an upgradeable forwarder. This way, should we ever need to make changes to the ERC2771 Forwarder implementation, we can do so without having to do a full upgrade of the contract.

• The ERC2771 Forwarder implementation used on the upgraded $WRLD contract would be MetaFab compatible, enabling many 3rd party developers to frictionlessly build experiences with $WRLD token both inside and outside of NFTW using MetaFab API's.

Cons:

• An upgrade means that an entirely new token contract would be deployed. This means that any 3rd party created liquidity pools and CEX listings would not be compatible with the new token. $WRLD balances would need to be swapped from the old $WRLD token to the upgraded $WRLD token using an exchange UI we provide.

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Proposition

We propose to upgrade the $WRLD token to solve the existing $WRLD token implementation issues while expanding $WRLD's capabilities for the long term both for game-related uses in NFT Worlds and outside of it.

Existing $WRLD holders would be able to swap their existing $WRLD from the $WRLD v1 token to the $WRLD v2 token at a predetermined rate. The possible rates we propose are as follows.

• 1 to 1 rate, for every 1 $WRLD v1 swapped, 1 $WRLD v2 is given.
• 1 to 1.05 rate (5%) for every 1 $WRLD v1 swapped, 1.05 $WRLD v2 is given.

The swap rate would be to incentivize a move over to the new v2 $WRLD token by existing holders through the exchange mechanism we launch on the NFT Worlds website.

THIS PROPOSAL LEAVES THE SUPPLY CAP UNCHANGED, V2 $WRLD RETAINS A 5,000,000,000 $WRLD CAP

The "FOR" of this proposal will be determined by the sum votes of BOTH "FOR" options. The exchange rate if this proposal passes, will be the rate with the most votes.