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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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