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Jacek.degen.eth 🎩
@jacek
1️⃣ The Lockup Vault – A Bad Deal for DEGEN? The vault was designed to require users to hold DEGEN in order to receive daily tipping allowances. The idea was that this would reduce sell pressure and incentivize long-term commitment. But the numbers tell a different story: • Right now, a 1.9M DEGEN deposit gives you a 10K DEGEN daily tip allowance • If fully farmed over a year, this results in an APR of 184% 😳 • That’s a massive ROI for a short lockup, creating huge inflation in the ecosystem This raises a key question: Are we getting enough back for giving out these rewards? Right now, it looks like the system is disproportionately benefiting farmers rather than long-term ecosystem participants.
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anon
@superanon
But you pardoned a farmer didn’t you ?
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downshift
@downshift.eth
@mcdegen is totally allowed. however, i wonder if that should be re-considered: my opinion is it's just another way to farm that @jacek approved of to try to get more people using the L3. not judging anyone who's used it, just stating my opinion: how does @mcdegen help the token or community as a whole?
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BrixBountyFarm 🎩
@brixbounty
In its current state it doesn’t. I see no reason it should be allowed at the moment. Especially if tipping is the intent.
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Jacek.degen.eth 🎩
@jacek
Agree.
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BrixBountyFarm 🎩
@brixbounty
glad you decided to take action on this. Here's my two cents on $Degen - aka my bags One of the current challenges with $Degen is that whales don't want to spend time tipping, as evidence by the relative quiet tipping from some of the larger holders. Functionally this is a reality of time preference. Without the spotlight on tipping happening that we enjoyed last spring, the project sees too little upside from the speculators who have long rotated away from Degen bags (guess I'm an outlier). I been accumulating $Degen the past few weeks in hopes of endowing a couple of agents who would be able to tip $Degen to encourage activity within a couple of channels on Farcaster - akin to what @javabu.eth has accomplished with /politics. The reality is once the L3 was introduced furthering utility the value of $Degen is tied to activity and engagement on the chain; which has been minimal. I'm still bullish on tipping as way to say thanks, provide signal, and reward active contributors and think... (1/2)
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BrixBountyFarm 🎩
@brixbounty
(2/2) once the current round of extractors are reduced in their capacity we can see a rotation into the OG tipping ethos. Since Degen popped off last spring, I've tied it to Farcaster in a big way, and was honestly surprised more folks who have been interested in FC succeeding haven't carried the torch for Degen tipping as a viable way to help FC grow. I like the current vaulting (yet I'm likely in the minority) cause it allows skin in the game to enable folks to help the ecosystem. changes I would personally consider (building a bit on what Moxie tried out) - elect "golden" tippers on a weekly or monthly basis who might not have the $ capacity to vault max Degen yet could be given a big allocation for a period of time... these could be nominated or selected from folks who have been identified as solid contributors. Maybe a dozen folks at a time. by rotating these allowances you would allow more quality casters to engage in the tipping meta, and potentially draw a spotlight back on tipping. 1 more...
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kenny 🎩
@kenny
wait are you talking AI agents tipping DEGEN?
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wake
@wake
once i lost my commitment to farcaster, degen went with it. that being said, i keep the faith, tip occasionally and keep my vault current. i'm still hooked into these systems; bring $degen to Bluesky and I'll use it, happily. My conscience won't let me grow farcaster, but I can still help sometimes.
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Icetoad 🍕 🎩 🐈
@icetoad.eth
Yes, what @javabu.eth has built for us over in /politics is great and rewards those that contribute to the channel. That isn't to say we haven't seen people try to farm, but as mods we have been able to keep it to a minimum.
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