Rewards
In all of the following proposals we'll be creating rewards to benefit current holders in an expansion. Aether's contract is designed to benefit Building holders by expanding their mintable allowance with each expansion. This reward mechanism is added to reward our unit holders. The following table is a breakdown of reward multipliers and the size of each group. The rewards will be treated as a random property that can be of type Unit or Building; this proposal allows early holders a chance at to building ownership post-expansion.
| Type | Trait | Reward Weight | # of Properties in this category | Total Rewards |
|---|---|---|---|---|
| Unit | > 2019 | 1 | 200 | 200 |
| Unit | 2018 | 1 | 380 | 380 |
| Unit | Penthouse | 2 | 108 | 216 |
| Building | 2018 | 2 | 104 | 208 |
| All | 1004 |
(Table 1: Holder Rewards)
Active Holders Definition​
Benefits from expansion will not be available to abandoned properties. Active will be considered by any of the following:
- Owning wallet has logged into https://aethercity.org after September 2021
- Owning wallet has properties been modified (on or off-chain) after September 2021
- Manual wallet exception submission on Discord (For investors)
- Snapshot participation
The following table is a break down of our current active properties from a snapshot taken on April 3, 2022. We do expect this number to be an underestimate as more wallets come online before the expansion.
| Type | Total |
|---|---|
| Units | 440 |
| Buildings | 72 |
| Properties | 512 |
| Airdrop Total | 665 |
| Voting Power | 872 |
(Table 2: Present Active Totals)
Progression Table & New Supply​
1. What will be the new supply?​
The follow table outlines the supply expansion phase. Each Phase is a progression increment of 5. This table is taken from Resources.
| Progression | Phase 3 (#15) | Phase 4 (#20) | Phase 5 (#25) | Phase 6 (#30) |
|---|---|---|---|---|
| Buildings | 104 | 180 | 283 | 409 |
| Units | 1141 | 2444 | 4414 | 6961 |
| Maximum | 1245 | 2624 | 4697 | 7370 |
(Table 3: Progression & Property Totals)
note
Maximum can only be reached if all Building holders mint each available space in their property. In reality it is common for building owners to leave spaces un-minted. Currently, our unit utilization is at 60%; (ie: Our total supply is 792 but it could be 1245 if everyone minted).
2. What supply can the team control?​
The following table shows the new supply that is available by the contract owner to allocate; this is the Controlled Supply. This table is derived from as the total property capacity of the new properties added around the perimeter of the existing city. Building owners control the expansion supply in the center of the city.
| Progression | Phase 3 (#15) | Phase 4 (#20) | Phase 5 (#25) | Phase 6 (#30) |
|---|---|---|---|---|
| Buildings | 76 | 179 | 305 | |
| Units | 212 | 981 | 2324 | |
| Maximum | 288 | 1160 | 2629 |
(Table 4: Core - Controlled Supply)
3. What supply do building owners control?​
Notice that the controlled supply (Aether Core) supply is outweighed by building ownership in each expansion. This speaks to the exponential growth and value of building ownership but also means that Aether Core can only control rewards and distribution for a fraction of new supply in each expansion.
| Group | Phase 3 (#15) | Phase 4 (#20) | Phase 5 (#25) | Phase 6 (#30) |
|---|---|---|---|---|
| Aether Core | 288 | 1160 | 2629 | |
| Building Owners (Units) | 1091 | 2292 | 3496 |
(Table 5: Core Supply vs Building Owner Supply)
info
As from the above breakdown, if we take a conservative expansion of increment by 1 phase (Moving from progression #15 to #20). The team will actually have less supply (288) than properties to reward (1004); the reward is over subscribed. We will only be able to avoid the oversubscription case if we enter into Phase 5. Where we can dedicate the majority of the controlled supply to holders of current properties.
warning
From these above numbers; our original plans to do a 33% reward is over subscribed if the new demand is too small; there is a likelyhood that genesis holders will not recieve any rewards for Phases less than 6. For example a 33% reward at phase one would mean an reward supply of 96 across 1004 subscribed rewards (~10% chance). This is why we have included Proposal 1, 5 and 6 in this iteration of the expansion discussion.