A very good idea.
Id make some additions to it,though.
1)You shouldnt lose too much fighting prowess.
Some people might stop playing the game for a few weeks or even months and come back later,others might be on vacation,have internet problems or somethign else.
Its nice to know that at least some part of your strenght will remain(as long as your character doesnt die,at least).
2)Punish inactivity and reward activity
That means,if you dont train regulary,you get out of shape,up to a point where you could have,lets say,a -70% debuff.
To get your old strenght back,you would have to start training again and the longer you didnt train,the harder it will be.
But i also suggested to reward activity.
If you train sometimes,you wont get out of shape but you also wont get much better.
But if you train a lot(like,multiple minutes everyday)you would gain a buff that gives you up to +30% to your stats.
To maintain that buff,you would have to train everyday.
The less you train,the smaller the buff you get....until it turns into a debuff,eventually.
3)Interesting training
While you can sparr to get better at combat,you could also be able to do some,,minigames''that fit the world of the game.
In age of wulin for example,you can play a minigame everyday,together with other players.
Its basically a chain of buttons you have to press,every round,another player has to do it.
The longer the chain,the better the results of the training.
Making a error will reset the chain.
In SLO,you could do that,or other minigames,alone or with a group.
Beeing good at them and training together with others,would speed up your training.
Thats not only a nice way to relax,its also a good way to meet new players and talk with each other while training.
These minigames would have the main purpose of staying in shape,but could also train your stats a little bit(like faster movement speed or jump height for example).
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