JPEG’d currently values rare punks above floor (per PIP-09) using attribute multipliers. For any given punks, JPEG’d only uses the highest attribute multiplier without taking into account other traits that would given additional value to the punk. PIP-19 seeks to add the attribute multipliers together to maximize LTV for rare punks while still keeping a conservative margin of safety with respect to market price.
All eligible rare punk traits multipliers should be additive.
A Beanie punk has a floor multiplier of 4x
A 3D Glasses punk has a floor multiplier of 1.75x
Under the current vault parameters, a 3D Glasses punk with a Beanie will only fetch a multiplier of 4x.
With PIP-19, the multipliers should be additive so 4+0.75 would be 4.75x.
Additive punk traits runs the risk of overvaluing certain punks (let’s say 3x + 3x => 5x)
So far the backtest with PIP-09 multipliers have shown none of the 10,000 punks under this heuristic is overvalued
Implement additive punk trait multipliers with the above specifications.