Kieran Daniels 🎩 on Warpcast

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Jacek.degen.eth 🎩 pfp

Jacek.degen.eth 🎩

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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NFThreat ↑ pfp

the thing is that there is a lack of new users in Farcaster itself

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is there a way $DEGEN could help onboard new users to Farcaster?

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NFThreat ↑ pfp

tipping system is very attractive for people outside FC, a rework is good, but we don’t have to demolish it

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Kieran Daniels 🎩 pfp

Kieran Daniels 🎩

Why do you deserve free money to tip? How does that help the ecosystem? Why shouldn’t anyone buy degen if they want to give degen? Every other currency in the world works this way.

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NFThreat ↑ pfp

because we don't need another currency that works the same as others. They are not "free money" since we lock some degen in the vault in order to have something to tip, we could just stake that money into LP or use them in another way. It help the ecosystem because is attractive, people are curious about this mechanism and approach FC

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Kieran Daniels 🎩 pfp

Kieran Daniels 🎩

Locking degen does nothing. It creates no value. It’s not attractive to anyone in fact it was the inflection point of degen failing. You don’t earn anything. It’s not effecting a 1b supply. Nothing you just said justifies you getting free money every month for doing nothing.

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NFThreat ↑ pfp

that's why we need to fix it, it's not a perfect system. The vault should be reworked, but this doesn't mean that the tipping system is trash.

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Kieran Daniels 🎩

Staking removes an investors ability to control their assets. It’s a huge systemic risk. It’s not something any normal person would ever do. And you earn nothing. All staking does is virtue signal to the public that you are married to your bags while literally generating free money for farmers. I realize you’re extremely bagged out but you’re losing in this equation.

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NFThreat ↑ pfp

I don’t agree, but it’s ok, respect A better manager of the Vault would help

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