PotionLabs Kicks Off Auction for ‘Potion Unlock’ - a Novel NFT Game to Open Source a DeFi Protocol

cryptonews.com:

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

Barcelona, Spain, 9th March, 2022, Chainwire

The Potion Unlock game is a social experiment to bootstrap a decentralized community around a DeFi protocol.

PotionLabs, the developers of the new risk management layer Potion Protocol, have announced the launch of the Potion Unlock NFT 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 code base 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.

The majority of Potion NFTs will be sold to the public via a Dutch-style auction starting 14th March (whitelisting already live) where high profile DeFi and NFT participants are