LootSwap Extended White Papers/Roadmap
LootSwap Introduction
LootSwap is a multi-tier crypto project with three big milestones to achieve. First, is launching a DEX on Harmony One. The launched the DEX on 31MAY21 with more additional features coming out throughout the year. The two biggest milestones for the project are the GUILDs launch and the NFT marketplace. LootSwap is aiming to be an all-in-one solution from crypto to gamer.
Completed Milestones
- Launching LOOT tokens/Yield Farming DEX
- LOOT Analytics
- LootSwap Interface Version 2 Closed Beta (see the end for previews)
Upcoming Milestones (Estimate: Q3 2021)
- LOOT Version 2 Interface
- Initial Quest Offerings
- GUILDs launch
- NFT Marketplace
- Task Center (achievements)
Future Milestones (Estimated: Q4 2021/Q1 2022)
- First Dungeons (Adventurer style game, Tile Matching style game)
- LOOT LOTTO
- LOOT Social Media Integration
Distance Future Major Milestone
- CCG/TCG
What problems is LootSwap trying to solve?
LootSwap is a DeFi project that bridges the gap from gaming to crypto. While the DEX is our starting point this isn’t our completed endstate. We are striving to bring artwork and crypto straight to the consumer, your typical gamer. While initially there will be high yield farming with LOOT tokens, LOOT tokens are the center of our ecosystem and yield farming is simply a model we chose to decentralize the tokens. Yield farming is simply an opportunity to extend the governance tokens in a fair manner in which the platform brings in additional models, a stake-to-earn (NFT) and stake-to-play (games) model. We believe that LootSwap can seamlessly connect developers and artists to gamers while enabling users to influence the game that they play.
DEX Tokenomics
While some things have changed in the project, our first two articles really outline the scope of the project and the tokenomics. In order to improve workflow, we assume you are familiar with these two posts as a baseline of understanding.
LootSwap Baseline Tokenomics:
https://lootswapfinance.medium.com/lootswap-finance-tokenomics-and-resources-d185138d9867
LootSwap Previous [Simplified] Road map:
LootSwap began as a yield farming platform. The high emission rates were in order to distribute the LOOT tokens in a more decentralized manner. We believe this will give ample opportunities for people to fairly collect tokens now while the product is being developed. While at launch, there are limited features for the token, LootSwap native token will be used for the platform. If you believe in the vision of the product, HODL and work together with us in order to disrupt the gaming industry.
Governance
As we are continuing to evolve the project, we are implementing some unique ways to implement Governance for the platform. We’ll be utilizing Harmony’s Governance system for voting with LOOT tokens and also experimenting with the High Loot Council.
High Loot Council
You can read more about High Loot Council by clicking here. The big takeaway is dividing up the decision making to act in the betterment of LootSwap. The HLC is subjected to change through LOOT governance vote.
GUILDS
LootSwap Guilds are a way to expand the network and involve the community in a deeper partnership. Guilds are a way for the community to participate and get rewarded for their efforts, regardless of their role. GUILDs play a critical role for the platform and will build into the ecosystem through GUILD competitions and cross marketing.
You can read more about guilds by clicking here:
GUILDs have to earn the “Official Partnership” in order to enter the High Loot Council and by default, be eligible for Guild Competitions. It is not a prerequisite for a platform to become a GUILD by giving the contract up to LootSwap. Guilds may potentially become an Official Partner pre-launch.
We will incorporate a GUILD page on the main DEX and the GUILDs may have a standalone website. For the GUILDs page, you will be able to sort through:
- All GUILDs vs OP GUILDs
- Market cap (native token)
- TVL
- APR
Task center
In our efforts to gamify, we are building in a Task Center that will enable users to earn achievements. Potential achievements may include:
- True LOOT HODLer achievement
- LOOT Statuses — HODLing different amounts of LOOT (LOOT fanclub vs LOOT Whale)
- Trader Achievement(s) — buying/selling a certain threshold
- Liquidity Achievement(s) — adding a certain threshold
NFT System
NFTs are essential to LootSwap and its future development. Our emphasis for the platform has been the gaming industry. Specializing in this area, the NFT marketplace will enable artists to sell a commercial/private license. At its core, LootSwap NFT system is a licensing platform which enables both Artists and Developers to focus on their passions through a trustless and seamless manner.
Key features
- User-friendly License Record
- Commercial/Private License
- Bulk License Discount
- Ability to pay in a variety of tokens (routing through the DEX). By default, artists receive USD.
- Limited edition runs
- Options for users to make Bundles for their NFTs
- A 1% tax fee is applied per transaction and which is used to buy LOOT tokens and BURN.
Artists
For the LootSwap NFT marketplace, any artist may submit a NFT onto the platform following copyright laws and LootSwap guidelines. For an artwork to enter the approved LootSwap ecosystem, an Artist must be contracted with a Community NFT Node.
Community NFT Node
Community NFT Nodes will set their own rates for royalties and are required to stake LOOT tokens in order to become a Community NFT Node. The requirement to become a Community NFT Node is 100,000 LOOT tokens. This number is only subjected to change through LOOT Governance vote alone. Key features for the Community NFT Node:
- Nodes are responsible for verifying artists/artwork to ensure there is no copyright infringement
- Community NFT Nodes will set their own tax fee for the artwork that they manage
- Integrate Community NFT Node Verified on the marketplace
- Penalizing Community NFT Nodes for copyright violations
Piecing it together
Why go through all the extra steps and create a middleman? By creating a more traditional business model within the tokenomics of the project, we are trying to integrate adoption into our platform. Having verified artwork, enables developers to make games seamlessly without having to worry about copyright laws and making a licensing arrangement. Businesses likewise, can build quality merchandise in a seamless, trustless manner using the artwork. And finally the artists can focus on making quality artwork and focus on their creative end state.
LootSwap End State
LootSwap is a long term project. Any part of our project can be modularized into the GUILDs which helps to modularize some of the risks too. We are happy to bring on aspiring alliances/partnerships/guilds to accomplish our end state. Even without those partnerships, LootSwap is frontloading artwork and will be working on our own Dungeons/Games in order to build in proof on concept. LootSwap is intended to be a cross-marketing platform that focuses on user adoption in the long run. Users on our platform, will eventually be able to play games through HODLing crypto and even staking crypto. There will be opportunities in the future for gamers to spend their money buying crypto and get rewarded with game perks.
Interface Version 2 — Closed BETA preview
The version 2 of the website is in closed BETA. There are some things we are working on before we release it to the public. It is right around the corner but we promised a sneak peak so here it is!
We’re still working on fine tuning the color scheme and displaying more information. We’ll be updating more icons.
