Degen

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.

People are suddenly acting irrational about tipping and @mcdegen, misjudging its benefits due to farmers. Here are some key points to consider:

1. Is the degen tipping system, solely based on Open Rank, really better? If high daily tippers never need to buy $degen and recipients just sell, who is actually buying $degen?

2. What about the L3 chain? Will Degen abandon it after this drama? Mint Club and @mcdegen have played a key role in L3, locking in significant value. Without this, L3 may struggle to sustain itself.

3. Spammers and abusers will always exist. They often outsmart the system, so instead of eliminating them at the cost of good users, the system should make their actions beneficial. The discussion should focus on this rather than attacking @mcdegen users.

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Tip $DEGEN to mint tokens on degen.mint.club 🎩

Web3 designer of Mint.club and Hunt.town | Find me via bento.me/project7 | Running /chicken meme project