Greetings Pilots,
With the upcoming mint event on the 20th December (more details below) approaching fast we want to shine a light on a few crucial elements of the tokenomics of the Solarbots metaverse.
As we covered in our first post, we are building an interactive and complex world with a rich lore and many paths that you can explore in your quest to find what we all seek: a meaningful life.
Much like with regular life in the ‘meatspace’, a crucial element of finding meaning in one’s existence is the cultivation of skills that others find valuable. Embedded in the right economic framework, the mastery of such skills can be both intrinsically and extrinsically rewarding.
Our ultimate goal is to build a metaverse where people from all walks of life can come together and have fun as they interact with one another in a new world that gives them plenty of opportunities to explore their diverse interests.
The design of such a world starts with the basic assumption that people respond to ownership incentives. With the correct incentives, they can find what they love and excel at it.
While some Pilots will only find meaning in battling the creatures of the Abyss, others will feel their talents are better utilized, and therefore more rewarding, in crafting the items for combat Solarbots.
This closed dependency loop will be cemented further by the fact that all crafting activities will incur a fee that can only be paid with Fragments Of the Abyss (FOA): the governance token of the Solarbots metaverse. This fee will be split between the Solarbots Treasury and the Foundation.
Each job will require its own non-combat type Solarbot with job-specific parts that allow a player to play the various non-combat mini games around crafting parts from gathered resources. Naturally, each will have a token economy purposely built for it –– with either existing or new tokens.
Before we open this functionality, the interested players will have a chance to prove themselves in skill-based testing games before choosing which path is right for their unique qualities and dispositions.
Proof-of-Skill Mining
Instead of solving arbitrary mathematical puzzles like in proof-of-work blockchains, players will compete to prove their skills by maintaining a high-rating across a set of complex metrics relevant to the specific crafting job. The rate at which a pilot can mint the various tokens and NFTs will be determined by the global average of these metrics –– which will be a world apart from the usual infinite mint mechanics employed by many P2E games.
Proof-of-skill mining will determine the success and quality of crafting, as well as the afore-mentioned minting rates of utility tokens across all crafting from life skills. The Solarbots Foundation will initially control the global mint rates of tokens and NFT drops, which in time may or may not be adjusted via a governance vote.
Since crafting will be done at the relevant Guild, these will require Land plots.
Land
Solarbots will have two different types of land: capital city housing plots and open world lands. Capital city housing will include Player Housing and Guild Housing, the latter divided into three tiers with each floor adding to the maximum amount of guild members thusly:
Small Guilds: 20 people + 1 commercial facility per floor;
Medium Guilds: 40 people + 2 commercial facilities per floor;
Large Guilds: 100 people + 4 commercial facilities per floor.
Guilds will be able to own impressive guild halls while players can build homes with both having access to items like limited edition furniture. In both types of housing, additional floors can be built by paying a one-off fee of SOLS (the P&E token) and using resources gathered from the land. Additionally, floors will need to be powered by burning a monthly SOLS and FOA fee, the building owner will also have the option of renting out the building or individual floors.
If the plot falls into disuse for whatever reason –– such as a lost wallet for example –– we’ll institute measures that will bring the plot back into the economic fold, with a fair share of the lease revenue accruing back to the original owner. In this case for the duration of the lease, the original owner will not retain the economic usage rights of the plot in order which would ensure the greater good of the game’s economy. Our goal in this extreme instance would be to reward both the idle owner and the lessee to ensure the fairness of our metaverse.
Guild Crafting
Guilds are going to be the cornerstone of the Solarbots economy as they are the only ones that can craft the items without which the combat Solarbots can’t fight the creatures of the Abyss. This is because each type of crafting requires a certain infrastructure and materials such as a forge and anvil for blacksmithing for example.
Players will only be able to access the In-game Marketplace through the guilds. This marketplace will have a slightly reduced fee with one quarter of all sales fees that go through a guild's marketplace Solarbot cycling to the owner of that guild.
Naturally, this means there will also be an Off-game Marketplace.
We’ll explain these matters in more detail in the next update of our white paper, so keep an eye on our channels to find when it goes live.
Token Allocation
In lieu of having a public token sale, Solarbots Labs wants to reward the early community members who purchase and hold the NFTs that form the backbone of this metaverse.
The 1-year lockup period will coincide with crafting going live for all items listed below.
Total Supply: 10,000,000,000 FOA
Foundation:
30% - 1-year lockup
3% released per year afterwards.
Bootstrap Fundraising:
9.6% - 1-year lockup
1.92% released after year 1, followed by a 5-year lockup
1.92% released per year from year 7 onwards.
Bootstrap Fundraising through FOA-yielding NFT assets:
0.4% - 1-year lockup
0.04% released per year.
Housing Loyalty Fund, 12k plots:
6% - 1-year lockup
0.6% released per year.
Guild Land Loyalty Fund
Small Guilds, 30 plots
1% - 1-year lockup
0.1% released per year.
Medium Guilds, 15 plots:
1% - 1-year lockup
0.1% released per year.
Large Guilds, 9 plots:
2% - 1-year lockup
0.2% released per year.
Mk.1 Loyalty Fund, 40k Solarbots for 0.05 ETH/bot:
10% - 1-year lockup
1% released per year.
Mk.0 Staking Rewards:
10% - 1-year lockup
1% released per year.
LP Staking Rewards:
20% - 1-year lockup
2% released per year.
Additional Gameplay Incentives:
10% - 1-year lockup
1% released per year.
Here’s the token allocation for each of the above categories in years 1, 7, 8, 9, and 10, with the numbers in bold representing the % of the total supply and the ones below highlighting each category’s share for that year:
Here’s a similar visualization of the token allocation for years 2, 3, 4, 5, and 6:
And finally, here’s a representation of the total circulating supply and linear emission:
Wen Mint?
The whitelist mint will take place on December 20th and 21st with the public mint happening on Dec 22nd.
There’s little standing in the way of the official launch of the Solarbots metaverse.
Are you ready, Pilot? Your baptism awaits.