The MetaGame SEED Market šŸŒ±

This post is meant to be a very very high level view of MetaGame. It does not intend to define mechanisms in a granular way, nor does it include all the mechanisms that are part of the Metaverse. It does, however, intend to provide intuition as to how the pieces fit together.

Thanks @mzargham, @auryn, @Yalortackson, and @METADREAMER for review, but esp @mzargham since this wouldnā€™t have happened without your help sketching out all this awesomeness in our whiteboard sessions!

MetaGame Metaverse Overview


WTF is MetaGame?

Who knows? Who cares?

What matters is that weā€™re building cool stuff together.

Vision

As far as I understand it, MetaGame is a meta-game: a game to build the game. A game that goes beyond any specific tooling, philosophy, or emoji. Whatever you think MetaGame is, itā€™s more than that.

As such, everything does not need to be controlled by MetaGame. In fact, we want as little to be controlled and as much as possible to happen organically. We want to encourage open innovation and experimentation in a way that is collaborative and positive-sum. Just like with all Web3 things, we want interoperability and freedom of choice. Yay open sourceness. :tada:

For this to be possible the core game mechanics of Metagame need to be as minimal as possible to encourage interoperability and innovation. Thatā€™s why weā€™re excited about SourceCred, Ceramic, and many more cool technologies - theyā€™re platform agnostic and offer maximum freedom. Yay freedom. :tada:

In this open sandbox of awesomeness we envision many players, guilds, and colonies emerging to do awesome things. Players will have profiles that allow them to own their identities and easily interact with on-chain and off-chain protocols, service providers will be able to create amazing user experiences, and the wild world of blockchain internets of value will be realized.

This means that you donā€™t have to be a part of the core team to participate, but you also donā€™t have to fork. You can run your own experiment within MetaGame. It can exist on itā€™s own. People can opt-in to explore your thing or anything else within the Metaverse, and the more awesome and interoperable your thing is the more likely they are going to be to do that.

MetaGame Mechanics


Concretely, what does this look like?

This looks like a lot of things. There will be off-chain aspects such as Discord chats, bots, Quests, XP, and more. These will be based on centralized Web2 platforms for data creation and management. Then SourceCred will run computations over those data points to recognize and reward contributors. Then AraCred will mint tokens (SEEDs) based on those scores. Then people will be able to do whatever they want with their SEED tokens!

The beauty of Web3 is that people own their data. Where data = tokens, and tokens = SEEDs, youā€™ll be able to take out loans on your SEEDs, trade them, pool them together in a MolochDAO to fund the MetaGame commons, put them in a Colony to reward specific tasks, and much more. People can do whatever they want with their SEEDs.

This means that there will be lots of ways to get SEEDs! Youā€™ll be able to earn or buy them on-chain via Ethereum contracts, or earn them off-chain via contributions and boosting. When you boost youā€™ll support people doing amazing things while also getting a portion of the XP from their amazingness. Since SEEDs get minted based on XP, this is truly positive-sum. This is amazing.

When you earn XP you get SEEDs. Maybe you want to use those SEEDs to play the boosting game, maybe you want to cash them out, or maybe you want to do something else entirely. The choice is yours. Thereā€™s many ways to earn SEEDs and thereā€™s many things to do with SEEDs. The players have the power. This allows players to focus on playing and building.

By giving people choices, they are empowered. People can create all sorts of dynamic and interesting mechanisms within the Metaverse. Some on-chain, some off-chain, but all awesome. This is what we want to encourage: more awesomeness.

MetaGame Tokeneconomics


By separating concerns we can create robust systems that are interoperable and composable. In the current architecture of MetaGame there are 3 main components:

  • Off-chain: SourceCred and XP
  • Bridge: The SEED market
  • On-chain: The SEED universe

Because the SEED market controls the minting and burning of SEEDs, it separates the off-chain mechanisms from the on-chain mechanisms.

This means that anyone can do anything they want in the on-chain world of SEEDs, but it wonā€™t affect the off-chain world of XP related contributor activity. Likewise, the mechanisms within the XP side wonā€™t affect anyoneā€™s ability to trade their SEEDs.

What will affect both, however, is the SEED market. The minting and burning of SEEDs affects all parties involved. As such, it needs a robust governance mechanism. This is why SEEDs are controlled by a DAO.

A DAO allows groups of people to manage shared resources (ā€œthe commonsā€) in a way thatā€™s digitally native and scales across physical borders. This is perfect for MetaGame. In this way we can move beyond centralized admins to create a game that empowers players and supports innovation.

This only works if the SEED market is healthy. If too many SEEDs are printed the value will drop and people will leave. If not enough SEEDs are printed tokens wonā€™t be distributed among contributors and the game wonā€™t achieve itā€™s dreams.

This is why we are modeling the SEED market in the MetaGame forum. By understanding the dynamics of this system, we can set it up so thatā€™s itā€™s positive-sum for all parties involved. To further illustrate this within the context of our latest discussions, Iā€™ve created a diagram to illustrate many of the interesting things people can do with their SEEDs.

You earn XP (SourceCred) for doing things in the MetaGame (off-chain).

This then earns you on-chain SEEDs (Grain) according to a payout strategy.

SEEDs are tracked in an on-chain ledger.

There is a market for people to buy and sell SEEDs, and this will likely be a bonding curve as well as secondary exchanges.

People can use SEEDs for things on-chain (Moloch, Colony, DeFi, etcā€¦).

People can also use SEEDs for boosting (XP) within the MetaGame SourceCred, but to do they they burn the SEEDs on-chain (via the on-chain SEED ledger contract).

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I canā€™t stress enough how valuable these docā€™s are even as a WIP, this is exactly the type of high level modeling we need to give us a picture for the future of SEED and itā€™s use-cases within MetaGame and beyond. Youā€™re a gem @burrrata and weā€™re lucky to have you playing the MetaGame :smiling_imp: please show this post some love yā€™all :heart:

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Thanks!

Been thinking a lot about how to best communicate these ideas in a way thatā€™s intuitive and user friendly. Realized that while docs (my preferred form of content) are great, a picture can sometimes (often) say a thousand words. As such, Iā€™m teaching myself how to design on Figma!

This is a very very rough WIP, but hereā€™s another shot at an overview of the Metaverse, this time trying to show how all the different on-chain components can interact with each other. The key takeaways are:

  • everything on-chain is permission-less
  • the governance of the off-chain <> on-chain bridge is essential to ensure balance (stable economic and game theoretic equilibrium!) in the universe :sparkles:

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how do I burn Seed? for what reason? how do I mint Seed other then earning XP and minting SEED through XP?

What are boosting points?

What is the difference between Metaverse Colony and Metaverse common fund?

Are you only ever using ethereum or what about the cosmos universe :slight_smile:

I am always using poerpoint or keynote for stuff like this. is the simplest tool for me.

You would burn it on-chain to receive boosting points off-chain.

The governance mechanism of the SEED token contract will determine this. Atm it looks like SEED holders will decide via a DAO vote.

Points you can use for Boosting.

These are just examples. There could be many Colonies or many Molochs or many DeFi dapps that use SEEDs. The point is just that these exist in the World of Ethereum, not the off-chain XP world.

Right now weā€™re building our contracts on Ethereum and everything else off-chain. Data structures like Ceramic might make all of this data more interoperable in the future, but thatā€™s TBD.

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off chain like lighting or how because somehow i need proof i own it. Will there be a bonding curve for boosting points or are they just 1:1 always.

in this post Grain = SEED?

what is the off-chain XP world?

Created a MetaGame Community Colony to show how easy it is to use your SEEDs in the world of Ethereum. No need to ask permission. No need for endless debates. Just DAO it.

SEEDs will be awarded for learning about MetaGame tokeneconomics as well as shilling them!

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Yes. Grain is the generic term for the design patter, and SEED is the instance of this pattern within MetaGame.

Re all your other questions: this information will be made available on the MetaGame Wiki in short order. Until then I recommend you check out this overview to SourceCred:

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Burrata,

This post is super helpful. I will try to make it as simple as possible for someone to understand. Let me know what you think.

4 Points to Understanding the MetaGame Economic System

1 - The Ethereum world is self-custodial, permissionless and where you hold value, tokens, assets and SEEDs. You can do whatever you want with your Ethereum assets, including your SEEDs!

2 - The MetaGame/XP Universe sits next to (outside) of the Ethereum world. The MetaGame incentive economy is built on earning XP, which drives action, creation and value add in the MetaGame.

3 - The Seed Token Governance mechanism (likely governed by a DAO) is the key to economically moving between XP and SEED, determining how SEED can be used in the MetaGame Universe, and protecting the overall system from any bad behavior and keeping it healthy.

4 - The SEED economy that exists as an open token in the Ethereum world allows the MetaGame to achieve its goal of being an open game ripe for experimentation from anyone. The SEED economy on Ethereum is open and prices are determined by the market, and anyone can do anything they want with SEEDs (an effective method to drive behavior or incentivize the MetaGame community).

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Metagameā€™s SEED market seems cruxxed on 3 technologies, SourceCred, AraCred, and Grain Markets. Understanding how these affect you will help understand how you will use SEEDā€™s

First, SourceCred, the highest level of the market. In short words, SourceCred transmits Web2 data into Web3 value. Each blog post, like, comment, emoji etc can be corresponded to value. ā€œSourceCred changes this by creating a market for all the thingsā€. This is literal, everything you do on the web right now is of some value. In the metagame, this value is labeled as XP.

Second, AraCred. Aracred is the bridge between off-chain SourceCred to on-chain communities. Aracred will mint SEED based on SourceCred XP, within an Aragon DAO hence AraCred. Thus, your place in the metagame is established by your off-chain Web2 contributions.

Finally the Grain Markets. From the post:

`The larger game nests economic systems. Itā€™s economics all the way down.

  • The local SourceCred economy
  • The primary Grain market
  • The secondary Grain market
  • The broader Ethereum economy
  • The global fiat economy`

As you can, grain markets are inbetween markets, fitting between SourceCred and Ethereum. SEEDs are earned using on a bonding curve, which is a fancy economics way of assigning price to tokens. In these markets, you can use SEEDs, sell SEEDs, loan SEEDs, whatever! Itā€™s a marketplace.

With these understandings, now think about the implication. SEEDs are earned through contributions of data and time in Web2. One you have SEEDs you are part of a market of users exchanging, selling, owning, or contributing. This is intrinsic value. Every contribution you make can later be sold. This is the future of the web and a key ideal of Web3.

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Thats an excellent way to describe it! The key part too is that itā€™s not about any specific implementations or technologies, its just an ethos and a way of doing things.

The key components being:

  1. A way to capture data and information for what happens (currently the internet and web2 tech like these forums and discord)
  2. A way to measure the relative impact of and attribute value to these contributions and activity (currently SourceCred)
  3. A way to mint and distribute a currency / tokens proportional to the measured value (currently AraCred / Grain Ledger)
  4. Interoperable bridges between these micro and macro economies (currently Ethereum)

All these technologies could be replaced with others, but the underlying framework and design of the system would be the same. They likely will evolve and change overtime as the game develops.

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makes sense

@Sky @youngkidwarrior excellent synopsis! Thank you so much for completing the MetaGame tokeneconomics challenges!

I will grant you your SEEDs, however, if you would like for a fourth SEED in addition to the three that you have already earned please tweet your synopsis out as a tweetstorm including mentions like @metafam and @sourcecred and hashtags like #metafam #aracred #metagame. Also make sure that you link to this thread so that more people can participate. Then provide proof of shilling and Iā€™ll send you more SEEDs! :octopus:

Update

So it turns out, I couldnā€™t give both of you SEEDs for completing the same task, so I created and completed two tasks for both of you:


Also created two new tasks for SEED Strategery Shilling! :loudspeaker:
(shilling the strategery behind SEED tokeneconomics)

you got it!

It wonā€™t let me put a link in my post. Put it on colony thread.

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Excellent!

Reposting here so everyone can follow your example:

@Sky can you please format your shilling as a tweetstorm like @youngkidwarrior did?

Done. Sorry not a twitter expert. https://twitter.com/sminert/status/1246281463114403841

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No worries! Weā€™re all learning as we go :slight_smile:

That was a well written piece of explanation @burrrata! It did answer most of my questions. Gonna read a bit deeper for anything else I missed. Thanks :slight_smile:

So 2000s :joy:
Great write-up @burrrata!
Maybe it should be turned into a blog post for the newsletter or a wiki entry?