$DEGEN

Thanks @jacek but it is not the trust in you we have problems with. All degens trust in you and the team. The problems are various actors that tend to skew the rules in their favour and in this way penalise small degen accounts that cannot rise or get their fair share. Thanks for all the efort you put to the project. I Really appreciate it. I would never dreamed of having any kind of influence, even small, on any social platform.

We’re super happy to hear opinions like these! The part at the end really makes Degen worthwhile. This season, we hope players of all sizes get a fair shot at tipping and that we spread the love not just to the big accounts but to every corner of Farcaster, creating a rich mix of content!

With allowances capped, we need a smart way for large wallets to sponsor small wallets. Mayhaps time for you to consider letting wallets above certain sizes delegate their unutilized allowances (ie, whatever they'd get beyond the cap limit). Whitelist the function to the largest wallets with the longest hold times (Feb forward) maybe.

The Degentlemen 🎩

We did talk briefly about a "vouching" mechanism, where you could stake funds toward another account, but ultimately decided it was too complicated for v1.

Maybe time to bring it back?

Metanations
🃏 Co-founder quip.network,
🎩 Co-founder degen.tips,
🍊 YC S21 orangedao.xyz,
🌐🔗🌎 #027 kong.land,
prev 🌱 acorns.com

Please don’t make it too complicated. Simplicity was key to attract me to degen & should be at the center of $degen. I just want a sound, well-distributed, fun, speculative token for Farcaster & Base and no crazy wealth redistribution games.

Delegate allowance to another wallet  is a large value-add though: 

1️⃣ delegate allowance to a good tipper would be great because not everyone with skin in the game searches Farcaster content and tips all day.

2️⃣ Tippers that want to get allowance should be easy to find directly on Farcaster & maybe someone builds a website for delegates. 

3️⃣Allowance should be possible to be split up.

4️⃣ Allowance should be easy to claw back.

I totally hear you. I think there are important issues in having freely delegated stakes, in that it allows bots to form a cartel and essentially re-combine their fragmented liquidity and tipping power in ways that are hard to detect as spam, but we'll reassess the complexity and try to find something that feels this simple.

I’m supportive of this tipping update but convinced we need more criteria for $degen tipping in the future.

1️⃣Including lock length & amount is a nobrainer to determine allocations

2️⃣Openrank & powerbadges gave power to large accounts on FC but we need more $Degen alignment

🎩track record of contributions
🎩track record of good tipping
🎩track record of scouting good content across Farcaster (channels)
🎩track record of supporting $degen projects & value-adders

3️⃣Essentially, $degen tippers “should” be hand-picked but positions should be open for anyone to join. Whether we pick 300 tippers manually or have some criteria that one needs to fulfill to qualify automatically is tbd

4️⃣Tippers are not necessarily builders or investors. Since tipping is used for distribution and growth of the $degen economy, we should make sure that good tippers fill this important position in the ecosystem!

interest in football, ecosystem growth, econ, investing, chess

Then you can think about some system that keeps a large wallet with skin in the game & (it’s delegates with) allowance in check - if needed (don’t think this is the biggest problem in degen as large holders are very focused on value-adding, not extracting)

- Max allowance
- Sybil detection & disqualification
- Reward spotting misbehavior
- Redistribute x% to well-regarded community tippers, new tippers, smaller accounts
-  …

Good to hear 👍🏼

So far, most doxxed themselves quite openly. You’re absolutely right though, I expect them to get more sophisticated and you’ll constantly need to adjust, add counter measures, detection mechanisms..

Looking at the track record of users can help
https://warpcast.com/juli/0x4b3da694

Aside that, locking stake is already unattractive to many farmers and putting stake at risk in ecosystem apps is even more unlikely for them.

https://warpcast.com/juli/0xd6ebf766

Plain staking is a solid start but essentially locking up token for little return (tipping allocation; maybe picking up@robrecht’s ideas will help) and ecosystem value - which could be dramatically improved by considering the following ecosystem staking options too in the future.

https://warpcast.com/juli/0x7e3c031a