Degen

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

Working on /impact ||


Abundance Economy book: book.abundance.id

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.

Lore man, creator of Banners. Author of the (wip) The Painter, Loot Maxi. Working on Base Banners, coming soon to /base. Co-founder of Call the Banners. 

Tipping fatigue is real. 

I used to spend hours every day for months even with my meager allowance trying to promote good art and that wasn’t really valued (as in helping my presence here grow or increasing my allowance so that I could tip others to promote more good art).  

Having to lock my funds was a big deal to me too: again not seeming to have anything to do with helping promote good content. 

After the first round unlocked, I was discouraged more by all the changing rules WHILE people had no option to exit during locks if they didn’t agree. It is its own special fatigue keeping up with the ever changing rules to not lose your allowance. 

I haven’t participated in a while because of all that. It’s too risky and difficult to be compliant with little reward to me or the network when focus is all on coin price and the popular getting richer. At least that’s my perspective now.

GenX girl who learned the hard way 🔹 lifelong artist 🔹 software engineer 🔹 curator of conversations 🔹 made /blend-o-rama 🔹 thinks you're cool

Thank you! I do appreciate getting tipped!

I just feel like degen isn’t set up to truly reward more people creating good or helpful content, since most of it gets funneled to the most popular people in the hopes they will reciprocate. 

I suppose that isn’t terrible in itself for a tipping coin… Ham is basically just a reciprocal tipping coin and people enjoy that. But it has never claimed to exist to help grow quality on the network.

If you were somehow allocated a degen allowance for the quality of your tips and that grew the better you surfaced good content, then it would be worth the effort. I think that @abundance set up an awesome framework to facilitate great curation, but it doesn’t control the allowance amount you have to give.

And most of the people who have stacked degen just look at it as another coin that needs to go up, not as a tool to grow the network quality or reward good participants. They are more interested in getting more for themselves than giving to others. 🤷🏼‍♀️

Wow, exactly. I just hit send on a reply that was highlighting this very sentiment. 

I don't know what the numbers were, but the confidence in the 2nd lock was way lower, and there's a lot of people that won't lock for a third. 

I had locked 300k in October, and again in Jan. My allowance is now valued at less than $2.00 a day. I honestly can't be arsed. 

On the plus side, I often forget about it now, and it builds up so here's 2 days worth: 670 $degen :)