$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.

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Interesting points! I'll chat with @cadillion about this.

This is true & at least something for @jacek to consider.

A staking system can complement the current one without nuking the curation, however I’m not sure it will work the other way around. 

In the same way LP providers are mostly unknown & not here discussing LP, a whale isn’t going to spend a portion of their day discussing degen. 

So it becomes whether the goal is discussion around the project or silence in the background. And yes some of that discussion will benefit influencers.

OpenRank isn’t perfect but it’s the closest thing we’ve been to it. 🤌

Exactly. I checked few people i followed when i joined who were successfuly farming with low effort giveaways - they have lower ranm than me now trying to do the samenthing over and over expecting different results.

This season fixed a lot of problems.

This is straight facts 💯

Those who rose in ranks earned it. I was a nobody last season. My allowance was about 200 degen. And I rose to the top 600 ranks in a month.

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.