We are thrilled to announce that the Adventure Gold (AGLD) DAO is launching the Loot Chain, a dedicated layer 2 blockchain for the Loot community. This development is a significant step towards uniting the Loot community and reviving the Lootverse. The Adventure Gold DAO has been building to serve our ultimate mission: to incentivize the Lootverse. The Loot Chain solves the challenges of gas fees and sovereignty, which allows us better execute our mission.
The Loot community, like many others in the NFT space, has been grappling with the high gas fees associated with Ethereum. For holders of Lootverse NFTs, the gas fee has become a significant barrier to participation. The Loot Chain aims to alleviate this issue by providing a more cost-effective execution environment for transactions.
The inspiration for the Loot Chain came from the realization that the Ethereum L1 is not the optimal place for the Lootverse to grow. The high gas fees on Ethereum limit the growth of the Lootverse, particularly for holders of less expensive NFTs. The gas costs often outweigh the rewards, making participation in the Lootverse less attractive.
Furthermore, several Lootverse projects have already ventured out of Ethereum for greener pastures. However, these chains are not "loot-centric" and are restricted to their own roadmap. The Loot Chain will provide the Lootverse with sovereignty, treating the specific demands of the Lootverse as a priority.
The concept of a dedicated chain for an NFT community is not new. Axie Infinity, for example, launched its own Ethereum sidechain, Ronin, to address similar issues. As outlined in their announcement, the high gas fees on Ethereum were limiting the growth and user experience of their community. The Loot Chain aims to achieve similar benefits for the Loot community, providing a more efficient and cost-effective environment for transactions and development.
The Loot Chain aims to be the home for builders in the Lootverse. It will become the go-to place for building new games, tools, and even autonomous worlds within the Lootverse. No longer will creators and builders have to look elsewhere for the toolkits they need.
The Loot Chain will provide an execution environment for Lootverse games, allowing developers to operate their games on the Loot Chain to take advantage of the low gas fee. They can run in-game assets on the Loot Chain as tokens or NFTs, and even run the entire logic & state of the game on the Loot Chain.
The Loot Chain is an EVM L2, built with OP Stack by Caldera. The $AGLD token is used as the gas token, leveraging its wide distribution and liquidity both inside and outside of the Loot community. The chain also uses Polygon as the DA layer, significantly lowering the cost to build, deploy, and operate on the Loot Chain.
The Loot Chain is designed to provide a low-gas, high-speed environment for transactions. We are able to achieve this by working with Caldera (https://caldera.xyz), a highly experienced RaaS team. While maintaining the familiar EVM development environment, we allow for instant block time, which is a sweet sweet upgrade for what the Loot community has been passionate about: fully on-chain games.
Furthermore, the Loot Chain is upgradeable, ensuring that it can always adapt to the needs of the Loot builders. This flexibility is crucial in the rapidly evolving blockchain landscape. Most importantly, this is the Loot community's own chain, governed by the Loot and AGLD communities. We are no longer constrained by other people's houses. This is our own home.
We are excited about the future of the Loot Chain. Documentation will be released soon, and we are planning to kickstart the chain with a few demo NFTs and games. We will also be releasing peripherals such as developer toolkits and other products in the near future. These toolkits will provide the necessary resources for builders to create and innovate within the Lootverse, further enhancing the ecosystem's growth and development.
As we move forward, we will continue to listen to our community's feedback and make necessary adjustments to ensure the Loot Chain serves its purpose effectively. We are committed to making the Loot Chain a robust and efficient platform that will foster creativity and innovation in the Lootverse.
We welcome builders and creators from all trades to join our effort to build Loot Community's new home. Loot is not dead. Long live the Lootverse. We will announce our ecosystem grants and staking incentives in the near future.