Farcaster

Degen

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Check Here https://ism.degenapp.store/ism

Idea#99
This idea has great potential to become an ecosystem
Not just a product
Let's ask expert questions about it, challenge it so that its true value can blossom with your help


@yazhisaisivanath 
@dwr.eth @v @woj.eth @linda 
@jacek @warpcastadmin.eth  
@corbin.eth @limone.eth
@cadillion  @ace @eriks 
@chinmay.eth @arjantupan


https://warpcast.com/~/mini-apps/launch?domain=ism.degenapp.store

Technowatermelon. Elder Millenial. Building Farcaster. 

nf.td/varun

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

Developer ecosystem @farcaster, co-founder @bountycaster. Previously: co-founder of Scalar Capital, product at Coinbase, co-producer @ethereumfilm

🏗️ crypto builder  |  
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cto @ bwl.gg, 100M+ users (bdut.ch) 🙏 $eggs is life

cofounder & product /builders-garden /farville | 
 organizing /just-frame-it | hosting a web3 hub in rome /urbe-eth /ethrome 🇮🇹🐺

https://limone.lol

Rome, Metropolitan City of Rome Capital, Italy

Metanations
🃏 Co-founder quip.network,
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🍊 YC S21 orangedao.xyz,
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A nurse who is interested in poetry and literature
🧘🏻‍♂️☕️📚

Creative Technologist

Learning Everyday🙏🏿

You are absolutely right
Most newbies to this space are scared of extreme price volatility.
I would like my motto and goal to be
"Stability in volatility with stETHfix, bring peace of mind to investors."
😊🫰🏻

If this works my mom doesn’t have to worry about “her money going up and down.”  😂 In all seriousness this is a way to bring peace to the onboarded. @jacek

Yes, exactly
The "insurance system or backup DAO" is an important part of it
A secondary treasury can act as an insurer and cover part of the loss in case of a severe drop

This DAO can be fed by the platform's revenues (fees, investments, etc.).

Really interesting idea!
It actually works like an investment insurance for ETH holders.
You could even take it a step further by allowing stETHfix to be converted into other stable assets like USDC,
or maybe offer a fixed yield for users who hold it long-term.
That way, it could not only protect against price drops but also encourage people to hold and use the fund more actively. @dwr.eth

Not everyone is gonna be a builder, crypto nerd or whatever. I'm here to cast my thoughts and do some sh!tposting; yeah I said that 😜😎🤡💀

"Not at all like USDC.
USDC is always $1 — it’s a stable currency.
This is a stable entry point.
If you bought ETH at $4K, and it drops to $2K, this system lets you freeze your position — and when you’re ready, exit back at $4K.
It’s like personal price insurance for ETH buyers."

Well for Maxis it may sound like a good idea, but the idea of stabilizing a coin like Ether doesn't sit well with me. I mean we have stables like USDC already.

@warpcastadmin.eth

It should be designed to survive in bad times because that's when users will truly trust it.
Queue-picking model
Rewards for loyalty
Emergency liquidity reserve
And there will be other ways that will be possible with common sense.

This is agreeably doable, but the funding will be rough in bad times

The product, yes, it happens to this
But my idea is not a product, it's an ecosystem
An ecosystem for holders who have missed out on the market growth and want to buy at the peak but are afraid of a drop

what guarante this is stable , all product can be depeg

Classical Musician turned Forex Trader. Transcribing scores, trading charts. More in: https://eliasvm.my.canva.site/

This is a very important question, because the whole system is based on this.
Let's say a user deposits 1 ETH at a time when the price of ETH is, say, $3,000 and receives a stETHfix token that is locked at $3,000.

Now, after a while, the price of ETH drops to $1,500.

There are several ways the system can compensate for this difference. I won't list them all because the ideas I have in mind are diverse, but there are two:

1. Using a Diversified Treasury

ETH taken from users is not just held; a part of it is invested safely (for example, in Aave, Lido, or stable assets).

The resulting profit can compensate for the price difference in the long run.
---
2. Dynamic entry and exit fees
The system can charge a variable fee:
When the market is falling, the exit fee increases.

These fees go into the treasury and help maintain stability.

How can it retain its fiat value? Let’s say, in case of a sharp decline, where does the difference comes from?

@MferOnes from Twitter;

Web3 small Artist & free-time photographer; here for the Memes, Art & my Mfers

Yes it can
and I have thought about it many times
but it will not be comparable to Ethereum
it will require careful planning and the cooperation of all the people I mentioned

So this could be an idea for a stable Degen token as well? @jacek

I think that will work ♥️ @yazhisaisivanath

I think this idea is usefull...
@corbin.eth

I make sure all will be effective. @jacek

I make sure all will be effective. @dwr.eth

it’s actually pretty smart. 

You're basically giving people a way to lock in the value of their ETH without having to convert to USDT or USDC. That’s perfect for folks who believe in ETH long-term but don’t want to stress over short-term dips.

As long as the mechanics behind the fund are solid and transparent, it could really take off.

I like the idea, that's a lot of data to retain, but I can see folks enjoying the benefit of a pegged price token treasury.

This is my first try and I really do hope it will work. @jacek