Minting XP Instead of SEEDs

On a call yesterday we explored how we might dogfood MetaGame to build MetaGame. This has changed the way I think about SEEDs.

  • SEEDs are durable goods. They are solid and tangible and have a price.
  • XP is a part of the MetaGame. It comes and goes as you engage.

Currently we’re giving new users SEEDs when they drop in, saying hi, onboard themselves, and post a tweet. This is great because bootstrapping a community and onboarding new contributors is hard. Giving people SEEDs is an awesome way to say thank you and give them a sense of ownership in the MetaGame :slight_smile:

That being said, if we want a robust SEED market, constantly minting new SEEDs will create an adversarial environment of the old guard vs the new guard. If you’ve spent lots of time or money contributing, you wouldn’t want to mint SEEDs for people just because they show up, say hi, linger, and then move on. You’d only want to mint SEEDs for people who provide more value than the cost of diluting current SEED holders by minting new SEEDs.

With this in mind, I’d like to propose that we mint XP for new contributors. XP is tied to SourceCred, and the way SourceCred works is that the amount of XP you get builds over time (kind of like compounding interest!). This means that to get meaningful rewards you have to either keep contributing or have contributed something of real durable value. Giving new contributors XP would still say thank you and get people playing the MetaGame, but it wouldn’t immediately wash out SEED holders.

XP has a half-life. Most people would show up, say hi, get some XP, and then move on. As a result, their XP will fade away. Contributors who stay, however, will continue earning XP which will compound into meaningful values that can be redeemed for SEEDs.

By giving new members XP we would get them playing MetaGame right away without diluting SEED holders, and as a result SEEDs would be more valuable for engaged contributors who are actually being rewarded in SEEDs to build MetaGame.

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This is an interesting way to think about SEEDs. What did fam think about it?

Fam thinks yes and as of today we are no longer allowing SEED claims for new players. All rewards will be in XP until The MetaGame SEED Market 🌱 opens up. A more detailed overview of this new system will be released into the wild shortly :octopus: