PR with Payload
Summary
Proposal to add gauge support for the LUCHA/wMATIC pool on Polygon with a 2% cap:
- LUCHA 80%
- wMATIC 20%
References / Useful Links
- Website: https://luchadores.io/
- Twitter: https://twitter.com/LuchadoresNFT
- Discord: Luchadores.io
- Lens: Luchadores.lens
- Docs: Notion
- LUCHA contract: $0.03 | Luchadores.io LUCHA Token (LUCHA) Token Tracker | PolygonScan
Protocol Description
Luchadores is an NFT collection and associated auto battler game, started originally on Ethereum. It features 10 000 Luchadores NFT, each of which can be played in the game.
Since the start, the Luchadores team has adhered to a “purist” ideal: the NFTs are fully onchain (svg art), attributes were allocated with provable randomness thanks to ChainLink VRF, and the game itself will live onchain too.
A flash of Luchadores history
Luchadores NFT - mint_init 17/05/2021; mint_end 18/08/2021
The Luchadores NFT were launched on 17 May 2021, with 10 000 Luchadores mintable for 2 LINK (VRF price) + gas costs in ETH. It took about three months for the full collection to be minted, with a sizable interest spike as the end of the mint was approaching.
LUCHA token launch 23/12/2021
In December 2021, the LUCHA token was released on the Polygon network. 6,18% of the total supply was allocated to Luchadores NFT holders over 1 year. The amount of LUCHA tokens earned daily per Luchadores NFT owned depends on their rarity. Other incentives were distributed for tournament winners (prizes), and soon to be earned in the game.
Piñatas pinata_1_init: 31/01/2022; pinata_1_end: 01/02/2022
Piñatas are ERC-1155 NFTs on Polygon containing random accessories for Luchadores. The first round of piñatas sold out in less than two days, as fellow Luchadores were hungry for gear.
LUCHA_yield_extension (LIP-2) 15/12/2022
The daily yield allocated to Luchadores holders was extended for a one-year period with the LIP-2 vote
LUCHA_yield_clawback (LIP-3) 21/02/2023 & POL_strategy 24/03/2023 (LIP-4)
14 months after the token release, and because of the LIP-2 results, the DAO decided to redeem the unclaimed $LUCHA of the first year and use it to fund the POL strategy.
2,25% of the total supply was retrieved (over the 6,18% for the first year rewards) and allocated to liquidity and vote incentives.
Tournaments
To date, 3 tournaments have been organized, offering a unique opportunity for Luchadores to prove their skills in the arena. Interested players can register their Luchadores, select their desired statistics and skills, and that’s it!
The grids are generated randomly; the matches are played automatically, and the player can check the results of his Luchadores the next day. Luchadores who perform well in tournaments can earn piñatas, LUCHA, accessories, and even Luchadores NFT.
VRF full on-chain game, Independent team, no pre-mint, no team allocation.
Motivation
After more than one year of existence, the LUCHA token is now widely distributed; with the Fight-to-Earn component launch approaching, the team is also looking to improve the liquidity situation beforehand.
Thanks to LIP-3 and LIP-4 votes, the total liquidity available on the pool increased massively, with the vast majority of it being protocol-owned. The LUCHA/wMATIC Balancer pool is already the main pool to exchange the token, and its importance will accrue.
Side/Arbitrage pools are also available:
The Luchadores DAO owns a majority of the LUCHA-WMATIC LP (87% of the TVL is POL) and will accumulate & relock the rewards earned to build strategic holdings which will be used to vote on the gauge and sustain the strategy voted on LIP-4.
Additionally, the LIP-4 also approved a budget to create vote incentives on Warden Quest to attract more veBAL & other wrappers voting power while building the DAO voting power. Independent vlAURA holders have also expressed their intent to support the voting on the gauge if obtained in its early days.
The governance is also considering switching the LUCHA staking model to a veLUCHA one, where holders can stake (and, if they want, lock) LUCHA/wMATIC BPT tokens to earn MASK, the non-transferable in-game currency, BAL rewards, and other benefits.
Note: The initial post for this gauge was the [BIP-242], which is resubmitted on this proposal. Considering the last results, there were discussions between the Luchadores Team, the Balancer Maxi and Aura delegates to share more informations on the project & the goals of this proposal for the Lucha DAO.The Balancer Maxi and Aura delegates are amenable to a new vote.
Specifications
- Governance: There is no on-chain governance as the game and the token are still at an early stage. Voting via Snapshot covers treasury and token-related decisions, executed through a 2/4 multi-sig. As development progresses, the game and its related infrastructure will be increasingly on-chain (Polygon).
- Oracles: The Luchadores do not rely on external oracles.
- Audits: The LUCHA token is a standard ERC-20 token
- Centralization vectors: The multisig mentioned above is the main centralization vector in the current stage. While the Luchadores NFT is built for resilience, the LUCHA token requires more guardrails until the game is finetuned and fight to earn is launched.
- Market history: After significant volatility at first, the LUCHA price stabilized while the initial supply was being distributed.
- Value: This pool is already the primary source of liquidity for the LUCHA token and is expected to scale up significantly as veLUCHA staking and locking are introduced.
- Link to the pool: https://polygon.balancer.fi/#/pool/0x924ec7ed38080e40396c46f6206a6d77d0b9f72d00020000000000000000072a
- 2% cap gauge contract address: 0x539D6eDbd16F2F069A06716416C3a6E98cC29DD0
Specification:
The DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will interact with the AuthorizerAdaptor at 0x8F42aDBbA1B16EaAE3BB5754915E0D06059aDd75 and call performAction with the GaugeController at 0xC128468b7Ce63eA702C1f104D55A2566b13D3ABD for the target(address) argument and using 0x3a04f900 followed by the gauge address 0x539D6eDbd16F2F069A06716416C3a6E98cC29DD0 and the corresponding gauge type for the data(bytes) argument.
data(bytes) : 0x3a04f900000000000000000000000000539d6edbd16f2f069a06716416c3a6e98cc29dd00000000000000000000000000000000000000000000000000000000000000003
Proposal authors: TokenBrice , Dydymoon and Linka