PotionLabs, the developers of the new risk management layer Potion Protocol, have announced the launch of the Potion UnlockNFT auction. Those who purchase NFTs in the auction will be able to participate in the Potion Unlock game, working with other community members to release the Potion Protocol into the public domain. With this one-of-a-kind strategy based on “aggressive decentralization”, Potion Labs seeks to avoid the dangers of a traditional project launch and to maximize community involvement.
The mechanics of the game are simple. The codebase of the entire project has been stored in IPFS and protected with a strong password. This password has then been split into segments of various lengths and will be distributed across 10,000 unique NFTs.
In order for the code to be finally decrypted and made public, participants will have to collaborate to bring enough of the pieces together. The game itself is totally open-ended: players will have to self-coordinate - without the input of Potion Labs - to find their own solution to the problem.
Once the protocol's file is decrypted and released into the public domain, a community with ‘skin in the game' and web3 operational capabilities will have been formed. This community will then have power and stewardship over the future of the Potion Protocol as a public good.
How Can Players Participate in the Potion Unlock Game?
The majority of Potion NFTs will be sold to the public via a Dutch-style Potion NFT auction, from March 14 until March 24 starting February 28th, where high profile DeFi and NFT participants are expected to take part. Whitelisting is already live.
To strengthen the participating community, two Potion NFT rarities (Kelly Knights and Wise Wizards), have already been distributed through a $12M private sale last January. These were bought by prominent DeFi players such as 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, among others.
Finally, Potion's early community members (OGs or Original Gangsters), also received a generous allocation of Potion OG NFTs at no cost, in recognition for their early community support and inspiration. A significant number of OG NFTs have also been made available in the form of airdrops to 1,000 leading members of prominent DAOs, with the goal of building a high-quality community around the project.
What is the Symbolism of the Potion NFT Design?
Potion Unlock NFTs commemorate the release of the Lab's Kelly Machine and its key technical breakthrough: the synthesis of the Kelly Criterion into a bonding curve. To celebrate this, each NFT symbolically and artistically represents a different insurance contract. Various characteristic artifacts are used in each NFT to represent the specific parameters of an insurance contract.
The collection of NFTs is made up of 10,000 unique pieces, which together embody one of the first artistic renderings of a financial product as well as providing a dictionary of Kelly Criterion bonding curves. Importantly, Potion NFTs are digital collectibles, not financial instruments: only the original NFT minters can participate in the Potion Unlock game.
What are Potion NFT Rarities?
There are 6 NFT types or “rarities” in the game, each with a different “decryption power”, giving the various players different capabilities and powers. Each NFT rarity will also have a different “redundancy” level, so no single holder can block the resolution of the game.
What is The Motivation Behind the Project?
PotionLabs is seeking to accomplish several goals with this launch model. The developers are deep believers in decentralization and designed Potion Unlock to transfer control of the Potion Protocol to the community. In this way, the approach delivers “aggressive decentralization' and avoids power becoming concentrated in the hands of the few, ensuring that it is instead spread across the community.
This form of protocol release is also meant to create a commercially viable way for PotionLabs to continue to finance its research work while operating within clear regulatory guidelines. PotionLabs also hopes this novel release model can be of use for other Web3 projects.
What Does the Team Have to Say?
“We are excited about the opportunity to introduce a new class of services built from the ground up by the community for the community. We believe in a community-first approach to creating radically new technology aimed at helping users in DeFi manage the risk of their assets in a simple and reliable way,” said Guillem Mosquera, PotionLabs Co-founder, and CTO.
"We are deeply grateful to the community around the project who decided to support our vision and team. We are experimenting with new approaches to open source development for web3 and are lucky to have a visionary community willing to fuel and support our exploration. We are excited for them to continue playing a key role in the project's community," said Jordi Muñoz, PotionLabs Co-founder and CEO.
"Extremely sophisticated on the backend, surprisingly simple on the frontend, Potion ushers in a new era of risk management for DeFi liquidity providers (LPs) and consumers. By using the Kelly Criterion, Potion allows LPs to optimally price options according to their desired risk and yield parameters. Then, by aggregating all individual LP curves, Potion offers the best-priced options to the consumer. When people say DeFi 2.0, Potion sits at the top of that list", said Chris Burniske, Partner at Placeholder.
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About Potion Labs
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, that 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 Potion.Finance here: https://potion.fi & https://potion.auction
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Like so many From Software games to come before it, Elden Ring is tough. However, unlike these games, Elden Ring is also open-world and mind-numbingly large, making all of its mysteries and madness even harder to keep track of. Though Elden Ring might offer players a generous amount of icons to scatter about their map and some very helpful sites might be hard at work creating some very helpful guides to get you through the game's toughest bits, I'd argue the best companion to help you on your journey from "tarnished" to triumphant is actually something a bit more personal: a journal.
More so than any other form of record-keeping, journaling allows us to perfectly preserve our experience--which matters quite a bit when exploring a world that's so uniquely alive and non-linear it almost feels custom-tailored. Journaling gives us a space to not only keep track of where certain NPCs are located, what tasks we have yet to accomplish, and where that boss is that left us battered and bruised is lurking, but also to note our personal observations--observations that could very well come in handy down the line. Beyond that, journaling also provides us with our own unique history of how we spent our time and, more importantly, how it made us feel that we can remember years later. It is irreplicable and completely subjective data, whether that "data" be a tally count of times you perished fighting Margit or quick remark on how the Erdtree Burial Watchdog is absolutely a cat.
Another optional but compelling reason to keep a journal? To share it with folks on the internet, of course. While no one will ever perfectly replicate your journey across the Lands Between, just about every other player you talk to will be able to relate to your experience. All it takes is a quick scroll through Twitter or Reddit to find thousands of people who also struggled besting a certain beast, or are harboring a very confusing crush on Blaidd. From Software games have always felt a bit like a communal experience--relying on cooperation and communication to unearth secrets and surmount the insurmountable. The idea then, of sharing your ideas and experiences in their most raw form, seems like a perfect way to contribute to this effort and perhaps even show off your penchant for penmanship and illustration.
Below are some examples of folks who are keeping a journal as they play through From Software's latest adventure, and each one is incredibly impressive:
When I've learnt that it was recommended to have a notebook while playing Elden Ring, I immediately thought "journaling pages" but that must be a bit overdrive (especially when almost nothing important had been written here 😅) pic.twitter.com/Ox0LBY7qVk
Here’s your goddamn Elden ring journal (my handwriting is usually better but this is a huge graphite holder so it’s a little like writing with a crayon lol) pic.twitter.com/87kqwsPGxX
While it is in no way conducive to making fast progress in the game, I had a very lovely time yesterday playing Elden Ring and keeping a journal of my adventures. What a game! pic.twitter.com/6PegfkTXYP
I think I might be taking @jasonschreier 's advice to keep a notebook handy when playing Elden Ring a little bit too seriously. Still, I'm ready to turn the page and start playing now. pic.twitter.com/QlRYtrumTY
However, if you're not quite the drawing type, please don't let the above examples intimidate you! First and foremost, a journal should be a home for your thoughts, regardless of how neatly they might present themselves. It doesn't matter if you best communicate your ideas through cute doodles, elaborate script, immaculate illustrations, or short 'n scratchy handwriting--your observations are valuable and could likely come in handy. Here are more examples of folks using journals to chronicle their adventures, keep questlines straight, and attempt to make sense of Elden Ring's macabre and mesmerizing world.
I’ve been keeping a journal for Elden Ring and I love it so much! If you can read my handwriting then spoilers lol don’t read pic.twitter.com/BI4jVYbLPJ
Didn't play a ton today, but this journal thing for #ELDENRING is pretty fun. Part notes, part reminder, part story. Will be cool to look back after I'm done with the game. pic.twitter.com/oMmN0KvDq5
I've been using a journal to take notes and sketch the smaller maps I've found in game. I've been enjoying the light writing and it's helped me solve some puzzles quite a few times already! (Also some good note practice for D&D) #ELDENRINGpic.twitter.com/3camjTcbaZ
Hopefully by now you're a bit inspired to pick up a pen and jot down the best spot you've found to grind runes or what the creepy remark that merchant murmured to you prior to browsing his wares was. And hey, if nothing else, journals make for a great place to vent your frustrations:
