Jacek.degen.eth 🎩 on Warpcast

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Jacek.degen.eth 🎩 pfp

Jacek.degen.eth 🎩

We've heard the community and recognize the current tip allowances aren't ideal. We're developing a new incentive mechanism to reward long-term members and reduce farming. We'll iterate quickly to improve the next season, making token farming increasingly difficult. @cadillion and I are cooking.

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Jacek.degen.eth 🎩 pfp

Jacek.degen.eth 🎩

To clarify, future systems will require you to show commitment to the Degen project by locking or staking. We aim to reward long-term HODLers of Degen. The incentive mechanism we're designing is currently in development.

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Anemale🎩↑🔵 pfp

Anemale🎩↑🔵

Interesting Jacek, but how will you do it? For example, I sent all my degen except 10K to another wallet that I don't want to connect to Warpcast because I'm always afraid of getting it drained, even though I've been a holder from the very beginning 🎩

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Magia pfp

Wow! Does the tip allowance change depending on the amount of tokens staked/locked? Or is the reward something different that is unrelated to the tip?

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Are there any plans to remove OpenRank from the system, or will the social graph still impact the allowances?

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Renée Campbell 🎩 pfp

Renée Campbell 🎩

I have most of my degen in another wallet that I don’t want to connect here. I’d love to know how I can use that to show support for the project while also protecting it.

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Juli 🎩↑ pfp

It‘s good to align allocators with stakeholders. I also think openrank adds value. Maybe we can couple both systems and use time of lock/staking/LPing as a boost for allocations? I don’t want a complex system, required long locks to receive inflationary rewards - as I consider this wealth redistribution games.

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Brandon Yoshi 🎩🔵🍖💎 pfp

Brandon Yoshi 🎩🔵🍖💎

@bay-photography

As many of the comments eluded to, many hold coins in offline wallet given the rampant hacks in this space. I also do this as most of my degen outside the 10k is in a wallet that never connects to the internet. Would love to see how this can be considered as many of us do it

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intrepid 🎩 pfp

Need some sort of delegation protocol so we dont have to keep in hot wallet.

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tknox.eth🎩 pfp

Oh interesting! I think long term (I guess it depends how long term) staking will definitely help to weed out people that aren’t serious about being here and or / scammers. Nice! this is kind of what makes @farcaster SO much better than twitter! 69 $DEGEN

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DV (Insert A Lot Of Emoji's)

@degenveteran.eth

I was just talking about this in @farhouse in @wolfestatebiz lounge earlier. Once I started reinvesting my $degen claim back into the community my engagement and following 🚀. 22 $degen

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Walleteer 🎩 pfp

Would you be open to partnering with other staking mechanisms, as well? e.g., /rebase by @kompreni? $degen stakers receive $reDEGEN 1:1 that you could maybe check for (in addition to—what I assume—will be your own staking mechanism).

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eirrann | he/him🎩🔵 pfp

eirrann | he/him🎩🔵

Doesn't this just mean farmers with enough to deposit will dominate?

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niftytime pfp

Nearly 1% of circulating supply has been staked on /rebase over the last few weeks Feel like a tag team approach of external + in-house staking solutions could really hoover up a non-trivial % of circulating supply @kompreni and I are always down to chat about this https://warpcast.com/niftytime.eth/0x2a772f5f

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Joelle LB 🍖 pfp

interesting, how is this gonna work for those who sent their tokens to their ledger?

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Diji 🦉🎩 🔵 pfp

Diji 🦉🎩 🔵

What about alternate wallet holders? Not everyone HODL in the connected wallet!

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Ramsey 🎩 pfp

What if I transfer between two addresses? Or stake it into e.g. Rebase?

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baubergo pfp

Will this be an additional degree to the existing openrank formula or will you discard everything regarding SCV?

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nomygod 🎩 🍖🥱 pfp

nomygod 🎩 🍖🥱

just build out the staking/LP version to compliment the social rank stuff so that there are two possibility's to earn degen tip allocations, somebody could do one or the other or both

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frederick pfp

for those that have other wallets they don’t want to connect to fc, is there a use case for delegate.xyz here? also, will @aerodrome lps be counted?

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J CryptoPlaza 🎭🎩OG449 pfp

J CryptoPlaza 🎭🎩OG449

That’s makes a lot of sense!!

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