$DEGEN

🧵 3/3

TL;DR: Staking and incentives should exist, but they should not be linked to having allowance.

If the token is to grow and the target is people who stake 1M or more, these people who are not in the game today due to lack of time will have an incentive to enter the game with less effort. That's it, isn't it?

The coolest thing about allowance is curating interesting people, whether they are well-articulated individuals or people doing interesting projects within the community, thereby improving and strengthening the entire community. Those who come in with money and little effort won't have the time or patience to do this curation (with rare exceptions) because they simply don't do it today.

These individuals need to get into the game and have incentives, but that shouldn't be the definitive factor in who should have allowance.

I understand the value of curating interesting people, but relying solely on Farcaster reputation isn't ideal. Linking allowances to staking ensures that those who have a vested interest in the project's success are receiving the incentives. This approach promotes commitment and long-term growth.

Thanks for getting back 💜

I think in a month we saw 90% of the engagement farming diminish, really interesting people rise, and giveaway farmers lose their rank by a lot. This, as a social experiment, is already incredible. And all this only happened in a 30-day window. That's why I think it's so rushed to drop it.

Also, whales will not have the time or the will to curate people here. Hence, they're not here. Just go over to DeBank and see the bizarre low-effort luck draws their whales do.

IRL: Creative Director who makes movies and ads.

It also wrecked allowance for a lot of us who were friendly and engaged. Mine had been stuck at 5 all month aside from the brief period where power users got more. Then back to 5 and wouldn't budge. Super disheartening to not be able to gift to artists and interesting folks. So I've basically not been here at all.

Photographer. Enthusiast. California girl. Always learning.
📷🌴
https://linktr.ee/burnishphoto


Yeah I did unconsciously stop coming every day to tip, as the allowance was so low it felt like I was being patronising by using it.