In gaming, the direction and development of games have been traditionally up to the corporations that owned the games. Updates and decisions on in-game resource economies have always been dictated by these corporations.

These decisions are rarely made in the best interests of the players themselves. When companies get bought out or begin developing new games, many decisions would result in drastic changes to the nature of the game, neglecting the opinions of the userbase that dedicated their time actually building the game’s ecosystem.

New Frontiers for Gaming

Blockchain technology offers gamers an avenue to truly democratically participate in top level decisions for their games. With the emergence of decentralized autonomous organizations (DAO) built on blockchain, a new form of decentralized decision making is now possible.

With rules written directly into the blockchain, DAOs allow for transparent decision making between a decentralized group of stakeholders. In the context of NFT based gaming, DAOs allow for complete control of game development by those who actually play the game.

Ocean Governance Council DAO

The Pirates features the Ocean Governance Council DAO, a DAO made up of OGT stakers.

To join the Ocean Governance Council DAO, users must stake their OGT in the DAO. Voting power in the DAO is in direct proportion to how much OGT a user has staked in the DAO. A 50% majority amongst all stakeholders will be required to pass any changes.

Participation in the Ocean Governance Council is also incentivized through OGT staking rewards, with OGT being awarded to users according to their voting participation in the DAO and the time they spend in-game. This ensures that those on the Ocean Governance Council are incentivized to fully participate in the game, having a real stake in the game ecosystem.

The Ocean Governance Council DAO forms the governance body that directly votes on in-game taxes and prices; NFT naming, distribution, and in-game creation price; Open Seas Treasury mint rate of OET; as well as how to spend the Ocean Governance Council Fund OGT.

Open Seas Treasury

The Open Seas Treasury controls the minting and distribution of OET. As an in-game inflationary currency, OET levels can be dynamically adjusted to suit developments in the game ecosystem. The Open Seas Treasury is the sole body responsible for minting and distributing OET, establishing the mint rate.

In-Game OET Smart Contracts

To establish a dynamic mint/burn rate for OET, the in-game OET smart contracts control in-game prices and taxes. The OET collected in this smart contract is then burnt, establishing the burn rate.

Ocean Governance Council Fund

The DAO also controls the Ocean Governance Council Fund, which holds 7.5% of all OGT. With a logarithmic unlock, this OGT can also be distributed in-game as rewards, according to how the DAO sees fit.

Timeline

As the Ocean Governance Council DAO voting power relies on OGT held, in the initial stage of The Pirates’ development, the developer team will hold majority power in the Ocean Governance Council DAO.

The initial token sale will make available 50% of the 30% earmarked OGT, with a 5% token generation event (TGE) every quarter. This means only after 2.5 years will the full 30% of token sale OGT be actually owned by players.

In contrast, the 30% of OGT earmarked for the developer team is fully staked in the Ocean Governance DAO at project launch, providing the developer team supermajority voting power. The developer team does not earn OGT staking rewards. With a daily unlock and one-year vesting period, the developer team will hold supermajority decision making rights until at least a year after project launch, when they can start selling their OGT.

This ensures that the developer team can lead the project through the initial development stage before slowly handing off the project to players who hold OGT. As the developer team unstake their tokens and players earn OGT through staking and in-game rewards, the conditions will allow for eventual full player control of the Ocean Governance DAO.