Introducing Platty Points and more!
On 18 December 2021, we showed you four reasons to own a Friendly Platty:
- Airdrops from every EndoMint collection
- Governance — as a Friendly Platty owner you will be participating in EndoMint governance to help shape the future of the Platties in the wold of Solana and in many other future ecosystems.
- Giving to charity — join us in helping real-life Platypuses. We will donate 5% profits to a non-profit organisation in Australia.
- VIP Whitelist — you can win access to whitelists of upcoming projects by EndoMint by our featured artists.
To-date, we have airdropped a Friendly Platty for each Friendly Platty owned by an early supporter. There are 36 more Friendly Platties to be airdropped.
In order to allow our community to be heard, our platties all hold unique values, called Platty Points. These points can be used to vote and influence the way we move as a project.
Over the past few weeks, we have been hard at work developing a framework for Platty Points, and today we are pleased to share that with you.
At the conclusion of each successful listing, we will reach out to Platty Owners to vote on how many draws per lottery: 5, 10, 15 or 20. Higher the number of draws, the higher the chance of winning, however, the smaller the voting rights you will be receiving as the voting rights are distributed proportionately according to the framework explained further below.
As inputs, we will be considering the following steps:
- The number of Friendly Platties you own for each generation. There are 7 generations: Gen 0, Gen 1, etc.
- The rarity score for each Friendly Platty. You can look up the rarity score using our lookup table.
- Bonus modifier “Mod A” which rewards early supporters. If you are one of the winners, then your total rarity score of Gen 0 Platties will receive a 30% boost, and your total rarity score of Gen 1 Platties will receive a 20% boost in points, etc.
- Bonus modifier “Mod B” which rewards loyal supporters. If you are one of the winners, then for each Gen 0 Platty you own, you will receive 111 Platty Points, for each Gen 1 Platty you own, you will receive 222 Platty Points etc.
The framework will undergo these four steps to determine the final portion eligible by each Platty Owner. We have provided a simulated worked example to help you understand how it works:
Step 1 — Determine number of Platties held by each Platty Owner
At this step, the winning User 01 is eligible for 3.38% of the voting rights. However, rarity scores have not been considered yet.
Step 2 — Sum Rarity Scores for each Platty owned
At this step, the rarity score for each Platty owned by the Owner is added. User 01 owns:
- 4 x Gen 0 Friendly Plattes with a total rarity score of 21150;
- 1 x Gen 3 Friendly Platty with a rarity score of 29091;
- 1 x Gen 5 Friendly Platty with a rarity score of 44089;
- 1 x Gen 6 Friendly Platty with a rarity score of 37601;
With rarity scores considered, User 01 is now eligible for 3.91% of the voting rights. Note that although in this simulation, the share of voting rights is increased, depending on the rarity score for each Friendly Platty, this share could have been reduced.
Step 3 — Apply “Mod A” to all winners
Mod A applied for Gen 0 Platties owned by User 01 is shown as a worked example:
21150 * 30% + 21150 = 27495
Step 4 — Apply “Mod B” to all winners
Mod B applied for Gen 0 Platties owned by User 01 is shown as a worked example:
27495 + 4 x 111 = 27939
Final outcome is shown below. You may observe that despite Mod A and Mod B boosts for User 01, those consistently owned Platties of each generation maximising their chance of owning rare Platties, still managed to have a larger share at end.
After the fourth and final step, User 01 is eligible for 3.77% of the share; User 04 had their portion increased, and User 10 had their portion decreased.
Giving to charity
In no particular order, we have looked at three non-for-profit organisations to donate 5% of our revenue.
More updates to come on this later as we plan future projects.