Dear Guardians,
First and foremost, we would like to thank everyone for their interest in our upcoming Axie Infinity Breeding Tournament. In 48 hours, we’ve had 31 pledges to the DAO with dozens more activity in our Discord.
The strength and passion of the Axie community is largely why we’ve decided to focus on this game as our first quest.
Upon the release of our tournament details, valid concerns were raised regarding the minting of Small Love Potions used as rewards for those who pledge to the MetaClan DAO.
We would like to start by expressing that this partnership is not one that we take lightly and that we will be doing everything in our power to ensure SLP will be going solely towards breeding for the tournament. (more details on this below)
We hope that this article can answer all questions and provide confidence that MetaClan is a community-first project driven by passionate crypto gamers.
First things first, let’s recap the benefits MetaClan is offering to DAO members:
- Up to 1500 SLP per member (capped at 1500/individual regardless of total shares)
- The ability to participate in a Virgin Axie Auction
- Detailed breeding feedback and suggestions
- A POAP badge marking your participation
Let’s explore the findings and questions we’ve seen since the tournament details were announced on Monday:
SLP BuyBack
For the next 48 hours, MetaClan will be buying up to 63,077 SLP (the total amount originally received) at a rate of $0.008/SLP — our original purchase price. All exchanges are conducted using DAI.
All SLP purchased in the buyback will trigger a burn for an equivalent amount of our original SLP allocation up until we reach the 63k SLP we were sold by the Axie Infinity team.
Axie Infinity has been generous enough to honor a refund on our original purchase for any SLP burned — further demonstrating their desire to ensure they are meeting the needs of the community while actively pursuing exciting new ecosystem opportunities.
If you are interested in participating in the buyback, please join the MetaClan Discord and DM either 3xHuman or Coopahtroopa.
FAQ
How Does Pledging Work?
When joining MetaClan DAO, you are allocating 25 DAI into a DAO bank to be spent however the collective members see fit. You are always entitled to your pro-rata share of the bank and can ragequit at any time — receiving back DAI to the same wallet it was pledged from.
Please note that while share value can change, the value/share is currently pegged at 25 DAI.
This means if you ragequit your share you will get back the 25 DAI pledged.
What’s to Stop Someone From RageQuitting?
Nothing! This is the trust-aspect of a DAO.
The Axie Breeding Tournament is the first of many upcoming quests both in Axie and across different crypto games.
Members will be entitled to benefits like this across all of our quests, meaning the 25 DAI pledge is a great deposit to get exposure to the best aspects of the wider crypto gaming landscape.
Not interested in the DAO following the first quest? No hard feelings! All that we ask is that you use the SLP as intended. The rest is truly up to you!
How do I qualify for the DAO member benefits?
New membership proposals take ~5 days for shares to be issued.
Any member who has pledged to the DAO and entered the voting queue will be eligible for benefits up until Sunday, May 9th.
Please note that the Virgin Axie Auction will take place on Friday, April 30th so those looking to participate must have pledged before then.
How will SLP allocation work?
Each member will have the ability to request up to 1500 SLP for breeding.
The allocation will be split into two rounds, 700 SLP for the first week, 800 SLP for the second week.
We will be keeping track of all members who request SLP and seeing whether or not they have made a submission to the competition.
We will use Discord and have Guardians request SLP rather than simply airdropping it to all DAO member addresses. Requested SLP will be sent to the address used to pledge to the DAO.
Those who do not submit to the Looks Contest or prove they have bred using the allocated SLP will not be eligible to receive the 800 SLP allocation for the second week.
Those who request SLP and do not use it for at least one breed will be kicked from the DAO and banned for life. (and socially shamed forever)
Is it a Virgin Axie Auction or a Lottery?
First things first, this is an AUCTION not a Lottery.
This means that all members will have to pay for the Virgins being sold by the DAO.
The unique angle is that all Virgins being offered have never been sold on the open market. They were generously provided to us by AxieGG — meaning this is the first time (and possibly only time) you will have to bid on them.
The auction will happen live via Discord in the #axie-breeding-tournament channel — likely with an accompanied live stream.
We will conduct a spreadsheet sale — meaning all sales will happen OTC through trusted MetaClan commanders to ensure only DAO members are participating.
Each Virgin will be posted — one by one — in Discord. Members will be able to offer a bid price during a two-minute window. The highest bidder will win with any unclaimed Virgins being funneled to a pool for open bidding following the auction.
Do I need to be in the DAO to participate?
No. Everyone is encouraged to participate!
Only those who pledge to the DAO are eligible for the benefits listed above.
Do I need to breed Virgins to enter?
No. You can breed as many Axies (regardless of breed count) as you would like.
The only caveat here is that submissions must have been bred since Saturday, May 2cnd to qualify for prizes.
How much LUNA is being offered?
In total, the Axie team has given MetaClan 1500 LUNA ($150) to use as prizes in addition to the DAO shares prizes.
This is divided as follows:
- Looks Contest — 250 LUNA total (125 per winner)
- Meta Contest — 1250 LUNA total (750 for first, 375 for second, 125 for third)
Where can I find the breeding guide?
The official breeding guide with information about breeding can be found here.
WTF is MetaCartel?
MetaCartel is a community-driven DAO with the most active Ethereum power users. With a focus on funding consumer-facing applications, MetaCartel drives the adoption of crypto products through ecosystem grants and user testing. Beyond the DAO members themselves, MetaCartel groups encompass multitudes more individuals and projects.
MetaCartel was gracious enough to allocate a grant to MetaClan to pay for the SLP being used as rewards in this tournament.
As a branch of MetaCartel, MetaClan can largely be seen as the gaming division of an enthusiastic group of community members eager to shape the future of gaming.
To learn more about MetaCartel, check out this post.
Closing Thoughts
For those who were put off by the original SLP purchase, please note that our intention has always been to bring as many new players into the Axie ecosystem as possible. We recognize that many of you have grinded quite hard for SLP and do not mean to undermine your efforts.
Upon purchasing SLP for this event, it was quite clear that Uniswap slippage was a big deterrent to our needs. MetaClan had spent numerous weeks purchasing SLP on the open market leading up to the event and only entered into discussions with Axie when we realized the existing liquidity was a blocker to our tournament plans.
Even at the time of writing, a 10k SLP purchase incurs ~10% of slippage, largely highlighting the need for Axie to have the ability to allocate SLP on case-specific partnerships like the partnership with MetaClan.
If anything, this goes to show that SLP is becoming a scarce item and that the “play-to-earn” nature of SLP is unfolding exactly as intended.
If anyone is still concerned about MetaClan, our intentions, or anything not mentioned above, please come voice your opinion.
We’re extremely excited to see what Axies spawn out of this event and look forward to meeting each and every one of you.
If you want to go fast — go alone. If you want to go far — go together.
