Content pfp
Content
@
0 reply
18 recasts
21 reactions
Mike | Abundance 🌟 pfp
Mike | Abundance 🌟
@abundance
Degen's success will not be determined by the amount of allowance we get but by how this allowance is used. Let's say the allowance is equally split between two groups: one group that is dedicated to the ecosystem's long-term success (and tips to quality contributors), and another group that only cares to quickly extract value from the ecosystem. If such a dynamic persists $degen will simply go to 0, because those fighting for Degen's success will be demoralized and will eventually dump the token. But what if we change this dynamic? What if we had tools to rate whether a tip contributes to ecosystem growth or harms it, which then affects how much allowance the user gets in the future? This way we create incentives for users to contribute to ecosystem growth, and disincentivize farming. Users then also have an incentive to build even better tools to improve tipping quality bc they're likely to get more tips in the process, thus creating a positive feedback loop for $degen's growth
4 replies
2 recasts
14 reactions
Caygeon.degen.eth 🎩🏰🍖 pfp
Caygeon.degen.eth 🎩🏰🍖
@caygeon
If you create more layers of administration of tipping, you’re losing more of the original ethos. I love degen, been here since day one. Own the degen DAO and haberdasher tokens. Donated 500,000 to the original DAO fund and even I am sick of of tipping, it’s already a chore because I have to arbitrate what those control deem suitable content for tipping. If I now have to do that process and judge tip quality, I’ll tap out.
2 replies
0 recast
2 reactions
Mike | Abundance 🌟 pfp
Mike | Abundance 🌟
@abundance
You always had some rules for how allowance is distributed. That was the case from day one. Earlier it was based on your engagement, now it's based on how much degen you have locked. The question is do these rules benefit the community? Do they benefit the people who believe in the community or do they benefit farmers at the expense of the community? I don't believe people should be banned (except maybe in very extreme cases), but if allowance distribution has to be based on *something* it might as well be based on what benefits the growth of the ecosystem (and of the token) instead of harming it.
1 reply
0 recast
0 reaction
Caygeon.degen.eth 🎩🏰🍖 pfp
Caygeon.degen.eth 🎩🏰🍖
@caygeon
Yes, if there is an allowance, it has to be based on something. But 'Benefits the community' is subjective. A memes-only shitposter, some may argue, benefits the community. Others, who aren't into art may not see artists posting their work as beneficial to the broader community. My point with all this, is the more rules, guardrails, and administration that you heap on top of the distribution mechanism, the more you increase the indifference of the majority of the people in the degen community. The whole thing has a vibe of "The beatings will continue until morale improves." When the unlocks come, I'll likely unlock and not sell, just to remove myself from the tipping pool, because it's become so exhausting that I simply don't want to be a part of it any longer. And I suspect that come early to mid april, when a bunch of the unlocks come due, you'll find the same sentiment from a number of people who will quietly quit tipping.
1 reply
0 recast
1 reaction
Mike | Abundance 🌟 pfp
Mike | Abundance 🌟
@abundance
I agree that we don't need or want a big administrative system on top of degen, but I also don't see how getting an allowance based on tips that benefit the community is more subjective than, say, getting an allowance based on how engaging your casts are (the system we had for Degen before). You can apply the same principle here; maybe not everyone likes my memes or my art, why should I get less allowance? Well, you'd still get an allowance if you only tip niche things, just not as much as if you tip those things that benefit the broad community. I agree that there is tipping fatigue but I wouldn't say "tip things that benefit the community more and get more allowance" is such a hard rule to follow.
1 reply
0 recast
0 reaction
Caygeon.degen.eth 🎩🏰🍖 pfp
Caygeon.degen.eth 🎩🏰🍖
@caygeon
I think this comes down to the difficulty with social media in general. "Tipping things that benefit the community more and get more allowance" is nearly impossible to codify. And if you manage to dial that in, then you'll end up with homogenous, meaningless social media slop. I think a bunch of electic, niche posts benefit the whole whole, but how to do pull that together. All of this to say, that you'd need to achieve 100% surgical precision on in order to have 0 farmers and perfect rewards to users (which is impossible) I suspect that more you try and dial this in, the more you lose mid-to-low engaged users. Finally, as long as there is a financial distribution, there will be people to exploit it. I don't think you can untangle authentic from farming, especially with AI blurring those lines entirely, without scaring away real users.
1 reply
0 recast
0 reaction