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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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BrixBountyFarm 🎩
@brixbounty
thought about $Degen and the L3. FC is clearly leaning into Frames V2. Think this would be a great time to run a few funding rounds - retro? for folks who are creating ways to make $Degen relevant in frames, functionally create a way for Degen to be in the mind of builders again. I won't speculate as to what these projects might be; yet reckon its time for the carrots to be dangled to get more folks building again. In an attention economy we all have to share the n = 1 for everything in life. Solana has done well to capture a large share of attention. Eventually MegaEth, Monad, Abstract, Open Ronin, etc etc will all continue to compete for attention. Personally would like to see Degen continue to explore how it can become integral for the growth of Base and create a stickiness for onchain explorers. Reckon the /degendao would be keen to help build the energy once directions are laid out a bit by the team. The Hat Stays On...
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