48hr EXR Pilot Key Supply Vote. Rewarding community support.

EXR Pilot Key holders can vote now on what we do with the remaining Pilot Keys. You have 48hrs. Read this blog for important details before voting. Voting ends June 8, 11:59 pm EST.

The remaining supply context — how we got here.

As mentioned in yesterday’s blog the EXR team is incredibly grateful for all the community support we have received. We are also proud of the hard work we put into this project to get to where we are today as a new team, on a new chain in a bear market. We’ve been building and working sleepless nights for 9 months straight — without VC funding to date and without paying ourselves as 6 co-founding members.

EXR Key holder voting — rewarding community support.

Previously we had planned to hold whatever keys remained in an EXR treasury wallet — for things that greatly benefit the long term growth of the ecosystem such as game rewards, partnerships, advisory, growth and marketing. However, after receiving such incredible support from our community, we thought it best that our community of EXR Pilot NFT holders vote on what happens to the remaining supply.

How the EXR ecosystem benefits from a treasury holding Pilot Keys — with a focus on engagement and long term growth.

While we as a team understand the importance of having a treasury of Pilot Keys to sustain the EXR ecosystem in many ways, we think it’s important to raise of a few key points on the topic:

1. While we do have a small batch of Keys held in the EXR wallet right now, in order for the bonus EXR fantasy league racing game to succeed, usage and engagement are needed. Nothing drives usage quite like more incentives, prizes and rewards. An EXR treasury holding more Pilot NFT Keys as rewards can act as a beneficial mechanic to drive engagement — especially as each item will be unique art sets.
2. To drive EXR ecosystem growth, we will also need partnerships, strong advisory and marketing — especially without VC funding, the EXR Pilot Keys can be one of the main ways we can potentially drive these elements.
3. EXR is bootstrapped by a grant funding from Moonbeam and we have not taken VC funding to date. Pilot NFT Keys act as a way for EXR to drive potential future revenue in a controlled way via minting allowing for self funded long term growth — without relying too heavily on outside funding sources. With this point, we would only run further mints with a proposal at key milestones eg — at the first tournament, at a higher cost, and at a controlled quantity — if voted and agreed upon by the community.

Now for the voting fun — everything you need to know…

To vote, there are just a few options — focused on how much of the remaining 1237 Pilot Keys we keep in the treasury to help with EXR’s success long term. Voting is only available to EXR Pilot Key holders and 1 Key = 1 Vote. A wallet snapshot of Pilot Key holders was taken before the 48 hour voting period began.

Note: Pilot Keys are a temporary voting mechanism for EXR (as Pilot Keys will eventually be burnt in exchange for Pilot NFTs) to allow our community to vote — an alternative solution for voting will be worked on later if needs be.

What does “burning” the unused Mint Keys mean?

If the vote is to in fact not keep some of the remaining supply in the EXR treasury wallet we will be executing a “rebalancing of the supply,” or what is commonly known as a “burn,” to ensure the vote is adhered to. There are a few technical options/solutions for how we “rebalance” or burn and this will be decided upon by the outcome of the vote. We want to ensure the best possible solution for the project.

Voting options are simple and focused on how much we keep in the EXR treasury for long term success. NOTE: burning also means we may lose rare art pieces that can’t be won or minted later. Sadge. Voting options below on what we do with the Mint Keys:

• 100% remain in EXR treasury (1237 Mint Keys)
• 75% remain in EXR treasury (928 Mint Keys)
• 50% remain in EXR treasury (619 Mint Keys)
• 25% remain in EXR treasury (309 Mint Keys)

In order vote instructions should be clear on the console but below are simple instructions;

1. Go to the mint site here https://mint.exiledracers.com
2. connect your wallet,
3. verify your EXR Keys,
4. and type “Vote” to see the proposal.

Soon after the vote has occurred — we will be looking to move to Phase 2 of the gamified mint experience whereby users get to burn their Pilot Mint keys in exchange for a Pilot NFT + 2 new bonus Keys.

Happy voting.