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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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NFThreat
@nfthreat.eth
the thing is that there is a lack of new users in Farcaster itself
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bry
@brykayne
is there a way $DEGEN could help onboard new users to Farcaster?
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NFThreat
@nfthreat.eth
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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bry
@brykayne
right could tipping exist across x and farcaster but in farcaster you get 2x rewards? could the vault generate yield for degen using morpho? could tips be onchain (txns happen on the l3) and include a fee that is kicked back to degen? i’m not too close to the farming challenges and inflation but @jacek these are things i’m thinking about to spread degen awareness, build farcaster users, and try to bring in revenue for the $DEGEN eco.
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Kieran Daniels 🎩
@kdaniels.eth
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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