$DEGEN

Jacek just announced they are cooking up the allowances going forward (not this season). Notes of staking/locking up to incentivize long-term holders rather than farmers. 

I feel like this is a good move. Incentivizing the holders rather than those who try to game the system. 

What are your thoughts?

Building /ambassadors and /base-ph. Warpcast is super fun. 

/project /bid /replyors https://newsletter.ambassadors.gg

Building /veil - ZK Privacy Protocol for Base

I agree!

Make people use the L3 should be a priority.

I'd rather see them focus on the L3 they've spun up than change the algos every 3-4 weeks. 

- Tokens should be distributed + claimed via the L3, you should also have a balance on the L3, moving away from Base. 
- Getting an NFT marketplace on the chain should also be a priority. 
- Bridging USDC / wETH with good liquidity. 

Basically, use the chain they have created.

A proud /fremen. 
https://highlight.xyz/mint/6647e21c58aed71383cd3ed8


@jacek and team, please remember your roots and what helped you build such a strong community around DEGEN. Engage with the builders and active users instead of relying on feedback from just a few posts in the timeframe of 3 days.

If you don't have the time to be here frequently, arrange a group that can provide ongoing feedback. Avoid shouting out decisions at the same time a dump is happening as this can send the wrong message, especially if they can be related somehow, even if it wasn't your intent.

Some great builders and users you should stay in touch: @edit @undefined @nonlinear.eth @matthewfox @rjs @nikolaiii @maretus.eth @apex777 @meguce and many others.

Degen

Allowance system is changing again. Who in the community are the DEGEN team listening to? Almost everyone I’ve talked to really likes the new allowance system. 

It’s not a good look to continue changing things so rapidly. It gives me major “we’re trying to fix the current downtrend in price” vibes. 

Did we really even give the new @openrank allowance system enough time to cook before deciding to try something else?

I think this is very dangerous tbh. 

Here's my two cents:

IRL: Creative Director who makes movies and ads.

I agree to a certain part 

Nothing is final yet and its still up for them to cook 

But I think incentivizing holders to stake/lock is good but that shouldn't be the only metric still. There are a lot of issues with openrank in terms of people getting big allowances without much reputation and I still think that needs fixing. 

The challenge to the team is to find a balance (liquidity, participants, investors, etc) which isnt very easy atm 

I'm glad that they're bringing this up right now so there is still a few weeks to improve this

20 $DEGEN

I think this is very dangerous tbh. 

Here's my two cents:

https://warpcast.com/baubergo-/0x7f93862c

https://warpcast.com/maretus.eth/0x996591a6

Physical therapist, animal lover, nerd, above average husband, married to a fantastic cook

yuppp, i think it should be staggered 

1 year might be too long for some

20 $DEGEN

If you can ladder the lockups. There should be different incentives for 1 mo, 3 mo, 6 mo, etc. 1 yr or nothing won't work well, imo.

This is the right method at this point. Some thoughts are in this tweet

This is the right method at this point. Some thoughts are in this tweet

https://x.com/0xZOZ/status/1801638375797231687

What I think I Totally agree with @jacek announcements.

It's a smart strategy to reward long-term holders. 

This will help create a more stable and committed community, reducing the influence of short-term speculators. 

Excited to see how this will strengthen the project @kylepatrick.eth

husband, father of two sexy girls, crypto community manager, bizniz owner and opinionated conservative. jesus guns girls america 🇺🇸

@wake.bsky.social

Yep, the challenge for them is to strike a right balance -- no perfect solution to solve all the loopholes/sybils but trying to keep it at a minimum would be great

I love that we're all having this conversation now rather than later

All boils down to whether or not it incentivizes the right kind of behavior. The price collapse is, at least in part, a function of chronically incentivizing the /wrong/ behavior; ie, staking /for/ allowances because they can be trivially sybil'd.

We've had bad success.
How about good success?

agree
Here is the plan I mentioned at the beginning of the season.

i identify as a problem 👺 boothang.degen.eth

I'm a cheerful dubu mom who adores travel, all things pretty, cute stuff, and laughter-filled moments🐻‍❄️💗

Proud Father & Husband / Passionate for Mobile Development / Senior Software Engineer @ Mercado Libre / Crypto Enthusiast / Builder @ Farcaster

Rio de Janeiro, State of Rio de Janeiro, Brazil

I’m just afraid they make any kind of differentiation between those who have more value in staking vs. those who have less. It would take us to the problem of centralizing allowance in the hands of those with more money and that would really be a sad move in what is supposed to be a more decentralized environment on that matter 😔

ai16z degen, buidler, and shitcaster 🫡 (acc/ai16z)

Skin in the game

I agree with the holding! Makes the price stabilized too

20 $DEGEN

Idk but everyone is salty abt it but I support this! 

The more degen you hold, the higher your allowance would be! 

Make sure to give up when it gets really hard

I agree, I don't think its the right thing to just focus on staking/locking up

It can help but only up to a certain degree

Social Rank is flawed but its one of the working things we currently have, so I hope that stays partly 

20 $DEGEN

There are already examples in replies how yield tokens with high emissions always head south, lockup or not.

It's not a bad change, it just feels rushed. Also if the social rank dependence won't play any role, any onboarding of new users will be halted.

Artist. Curator. Collector |
FID 12756 | fercaggiano.xyz | shop fercaggiano.com | https://www.hypersub.xyz/s/scribbles-from-a-life-unscripted-ahwpycvgngn4

Itupeva - Aglomeração Urbana de Jundiaí, Itupeva - State of São Paulo, Brazil

Taunsa, Dera Ghazi Khan, Punjab, Pakistan

Interesting take, what do you think the team should do?

20 $DEGEN

It's too soon in my opinion. The present system works fine. They are just lazy.