Spintop
Search…
Guilds & Guild Vaults
Guilds Vaults are matching mechanisms aiming to socialize play-to-earn process. As a holder, bring in your play-to-earn NFT's and lend them trustlessly via vaults. As a scholar grab an NFT from a vault and start your journey permissionless. Play-to-earn games currently have the problem of either being closed ecosystems stiffling outsider traffic or utilizing central authorities as trust mechanisms which go completely against nature of blockchain applications.
Spintop will improve play-to-earn process immensely via Guild Vaults. Here's how.

## Introduction

Guild Vaults are DAO's built through Spintop Network. Founder of the DAO will pay for the setup and decide on permission model of the vault. There are two simple models to choose from.
• Private vaults: Admissions are in control of the Guild founder.
• Public vaults: Admissions are a permissionless where any eligible NFT holder can join the vault.
Guilds are formed via Guild Vaults. Members of the vault will essentially be the governing members of the guild.

## Lending Protocol

Lending is essential ingredient for a healthy play-to-earn environment. Lending breaks down barriers, empowering new comers while creating passive income for holders. Spintop Network is committed on creating a protocol for lending play-to-earn NFT's.

### 1) Early Stage Implementation through Partnerships

Early stage lending will be all about strategic partnerships that follow the same vision for future. We will be consulting newcoming games on lendability through Spintop Network.

### 2) Basic Wrapper through Partnerships

Basic wrappers will be introduced for specific projects that are already established and using their NFT's actively.

Our long term effort will be focused on propriety permissionless wrapping protocol. This utility will be developed by a designated developer team in order to nudge all kinds of play-to-earn projects to implement wrapped NFT's into their ecosystems.

## Rating Systems

There are 2 rating systems guilds can utilize in order to position themselves among other guilds.
NFT Rating (NR)
NFT values are hard to pin down. Also most gaming NFT's will be upgraded through gameplay so trying to nail down a specific price for a NFT at a specific time can lead to unfair results.
For this reason we have developed a NFT rating system(NR). NR will be used as a specific NFT's weight in guild governance. NR will also define the base value for the Scholar Rating System(SR). Here's how it works:
• Scholars will rent play-to-earn NFT's from vaults for 1 epoch(8 hours).
• Every NFT will have an intrinsic value based on 5-set(denoted k) moving average of its earnings per epoch.
$NR_{intrinsic} = 1/k *(NR_{n-k}+.. + NR_{n-1})$
• Initial value will be determined by guild, or set to the vaults average.
• NR will be decaying* at 5% everyday after 9 epochs(3 days) have past without scholars picking it up. This doesn't mean your NFT loses any value. Your NFT becomes more attractive to larger group of scholars as it decays.
$NR_{n} = NR_{n-1} * 0.95$
* Decaying NFT's will be boosting apprentice scholars since they can better increase their SR through decayed NFT's. This attraction will be helpful for fully utilizing less attractive NFT's.
Scholar Rating (SR)
Scholar ratings are determined by performance on specific NFT's NR. SR change will be determined via following formula:
$\Delta SR = (NR-Earnings) / NR$
So this means everytime a scholar returns an NFT to the vault, both NFT's and scholar's rating be updated based on scholar's latest performance and how it compares to track record of the NFT.

## Control Mechanism

Set Initial NFT Rating
Initial NFT Rating can be set by guild itself manually, or left to average via NFT's average in the vault. Initial NFT Rating doesn't mean anything after first cycle of moving averaging(~40 hours). Lower it to attract scholars faster, or just go with vault average to get things started.
Set Scholar Rating Treshold
Scholar Rating Treshold will be any guilds signal of quality. Guild can tweak this treshold and allow more scholars to rent or if there's already enough demand, allow higher MMR players to make better earnings per day.

## Next Steps

We are already cooking brand new enchancements. One of the upgrades we're looking forward to is the LFG Vault. LFG is a singular vault aiming to hold future matching records.
This means that you may let different scholars get queued for your NFT for days or even months! Lower your SR treshold to increase your runway, increase to earn more. This mechanic will both benefit long-term holders and provide sustainability for scholars