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7858
@7858.eth
I’m trying to get my head into Merkle’s thinking here I’m gonna do some thinking out loud From the supply perspective, that’s not enough money to really sting, but it’s not nothing. They could 5x it if they thought it really mattered or was a valuable experiment even and not materially impact their runway For most recipients (very likely WEIRD, maybe even super rich), it’s not enough to matter. Not sure it’d even finance a daily Basepaint habit. So maybe they’re thinking that $5 is enough to serve as a seed for prestige and the competition will really be for bragging rights and not for the $5? If the economic incentive is intended to mean something, it should be bigger. If it’s not, then why not just $1 or a trophy NFT? Seems like such an awkward half measure That being said, huge credit to Merkle for the unflinching discipline to build a viable protocol/app/community without falling into the trap of magic tokenomics Can’t wait to read the post mortem in January
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Dan Romero
@dwr.eth
1. Most of the people on the initial list weren’t “super rich” 2. $5 *a day* is meaningful to most people for something they were doing anyway. It’s a few nice dinners out a year or even weekend trip for just being yourself / interesting. 3. If the experiment works, can always expand.
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7858
@7858.eth
Thank you for engaging in good faith when I speculate about FC like this - I’m not totally convinced that $1800ish per year is enough to materially change behavior among crypto people, that feels like “skip the Starbucks latte” levels of money, not “put in an extra 20% effort” money - “something they were doing anyway” sounds like a dissonant note. If the top performers are going to ship a steady flow of bangers anyway, what’s this doing? I get that normalizing by followers means that this encourages all of us mid accounts to outperform our usual standards too, but as you say the top accounts are big for a reason I like that this is an expression of belief in the latent potential of the existing crowd and not a direct effort to recruit in external talent, feels good man. The other positive that stands out is that the small reward size mitigates any unforeseen cobra effect that might result Genuinely interested to see how this plays out 🫡
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