PotionLabs has launched an auction to open source the first de-facto decentralized game development platform. The potion unlock protocol is a collectible NFT that will be on par with most other in-game items, but also represents ownership of a valuable asset tokenized as part of the ethereum blockchain. Game developers can use this toolset to build their own games and earn revenue from them without having to worry about managing intellectual property rights or copyright violations.
9th March 2022, Barcelona, Spain Chainwire
Potion Unlock is a social experiment that aims to build a decentralized society around the DeFi technology.
The Potion Unlock NFT auction has been launched by PotionLabs, the creators of the new risk management layer Potion Protocol. Those that buy NFTs in the auction will be allowed to play the Potion Unlock game, where they will collaborate with other members of the community to release the Potion Protocol into the public domain. Potion Labs is a company that creates potions.’ one-of-a-kind approach based on “aggressive decentralization” aims to avoid the pitfalls of typical project launches while maximizing community participation.
The game’s mechanics are straightforward. The whole project’s code base was saved in IPFS and secured with a strong password. This password was then divided into chunks of varying lengths and given to 10,000 different NFTs.
Participants will have to work together to get enough of the parts together in order for the code to be decoded and made public. The game is completely open-ended: participants will have to coordinate themselves – without the help of Potion Labs is a company that creates potions. – in order to solve the challenge.
A community with “skin in the game” and web3 operating skills will have emerged once the protocol’s file is decrypted and placed into the public domain. This community will have control and stewardship over the Potion Protocol’s future as a public good.
How can players get involved with the Potion Unlock game?
The bulk of Potion NFTs will be offered to the general public in a Dutch-style auction beginning on March 14th (whitelisting has already begun), with high-profile DeFi and NFT players anticipated to participate.
Two Potion NFT rarities (Kelly Knights and Wise Wizards) were previously given in a $12 million private auction last January to boost the participating community. Polychain, Placeholder, Maven 11, Pantera, The LAO, MetaCartel, Parafi, Spartan, Robert Leshner, Fernando Martinelli, Synthetix founders, Crypto Plaza, Roble VC, CULTUR3, Lemniscap, Zee, and beToken Capital were among those that purchased these tokens.
Finally, in appreciation for their early community support and inspiration, Potion’s early community members (OGs or Original Gangsters) got a significant allotment of Potion OG NFTs at no cost. With the purpose of developing a high-quality community around the project, a considerable amount of OG NFTs have been made accessible in the form of airdrops to 1,000 key members of notable DAOs.
What is the Potion NFT Design’s Symbolism?
The Kelly Machine’s fundamental technological innovation, the synthesis of the Kelly Criterion into a bonding curve, was commemorated with the introduction of Potion Unlock NFTs. To commemorate this, each NFT symbolizes a distinct insurance contract symbolically and visually. To represent the precise parameters of an insurance contract, each NFT employs a variety of distinguishing artifacts.
The NFT collection consists of 10,000 one-of-a-kind pieces that combined represent one of the earliest creative representations of a financial product as well as a lexicon of Kelly Criterion bonding curves. Importantly, Potion NFTs are digital collectibles, not financial instruments, and the Potion Unlock game is only open to the original NFT minters.
What are Potion NFT Rarities, and how can you get them?
In the game, there are six NFT kinds or “rareities,” each with a particular “decryption ability,” providing each players varying talents and strengths. Each NFT rarity will have a separate “redundancy” degree, ensuring that no one holder may prevent the game from being resolved.
What is the project’s driving force?
With this launch approach, PotionLabs hopes to achieve a number of objectives. Potion Unlock was created to hand over management of the Potion Protocol to the community, since the creators believe strongly in decentralization. As a result, the technique achieves “aggressive decentralization,” guaranteeing that power is distributed across the community rather than centralized in the hands of a few.
This kind of protocol release is also intended to provide PotionLabs with an economically viable option to continue funding its research while adhering to strict regulatory constraints. PotionLabs also aims to apply this new delivery methodology to other Web3 projects.
What Do the Members of the Team Have to Say?
“We’re ecstatic to have the chance to provide a new class of services designed from the bottom up by the community for the community.” PotionLabs Co-founder and CTO Guillem Mosquera stated, “We believe in a community-first strategy to create completely innovative technologies targeted at assisting users in DeFi manage the risk of their assets in a simple and dependable manner.”
“We are appreciative to the project’s community for deciding to support our vision and team. We’re experimenting with new open source development methodologies for web3 and are fortunate to have a visionary community eager to fuel and support our efforts. PotionLabs Co-founder and CEO Jordi Muoz remarked, “We are thrilled for them to continue playing a major role in the project’s community.”
“Potion ushers in a new era of risk management for DeFi liquidity providers (LPs) and customers by being very complex on the backend and surprisingly easy on the frontend. Potion enables LPs to price options according to their chosen risk and yield criteria using the Kelly Criterion. Potion then presents the user with the best-priced choices by aggregating all individual LP curves. Potion is at the top of the DeFi 2.0 list, according to Chris Burniske, Partner at Placeholder.
Potion Labs is a company that creates potions. is a company that creates potions.
PotionLabs is a web3-native research and software development company that has developed a robust risk management layer for crypto assets, the Potion Protocol. It pioneers a new risk pricing model based on the Kelly Criterion, which results in long-term survival mathematical expectations for LPs, and deeper, more reliable liquidity markets for users. The release of the Protocol’s code is launching shortly through the Potion NFT Unlock game. More on PotionLabs here: https://potion.fi & https://potion.auction
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