1/3 Hey Degens! We’ve just released the Degen Vault! Lock your tokens now to receive a tip allowance starting July 11th, UTC. https://www.degen.tips/airdrop2/current

Ch-ch-ch-ch-changes

Will dig into the code tomorrow 🫡

Husband, dad, dev. @dune.eth wizard.

⭐ DEGEN Tips FAQ: https://paragraph.xyz/@rjs/degen-tips-ultimate-faq-v8 ⭐

Not financial advice. Not a KOL.

Someone confirm my suspicions here for how degen whales will crush minnows.

Whales can put in millions of degen and even if they have a cap of 10k allowance their “overstaking” will make small accounts have less allowance than they would otherwise.

Simplified example: say 1000 minnows stake 10 degen, and 10 degen whales stake 1000 and allowance is capped at 10k.

20,000 total
1% = 200
Whales are "overstaking" by 800 (80%!)
10 degen investment is 0.05%
Whales get 10k allowance
Minnows get 5 allowance

If the whales staked 150 instead of 1000:

11,500 total
1% = 115
Whales are still overstaking by 35 (still ~30%)
10 degen investment is 0.087%
Whales get 10k allowance
Minnows get 87 allowance

People are being encouraged to stake a lot, and all the whales overstaking will drastically reduce the allowance for everyone else. But since there's a lock for 3 months, overstaking can't even really be fixed, nor will some whales care that they are overstaking and hurting all the minnows.

Is this how it works?

Fan of bad sports teams.
Host of /powermonday

Me too!
https://warpcast.com/bluecockatoo/0x643a685d