reply guys

okeee, i did a thing. i staked. 🤷‍♂️ 

i'm not happy about it, but i'm at peace with it. or so i tell myself today. i staked what i earned last season. that degen came from the degen fam, and it somehow felt right to put it back into the community even if i disagree with the current state of things.

i've been impressed with the way jacek and the degen team have been open to suggestions on how to improve the system, so hopefully they iterate quickly as usual. 

most importantly, they must find a way to address the number-go-down issue. the tipping game is a GAME and when people play games they like to go up the leaderboard, not stake a bunch of money and see their allowance go down every day. and that's the only direction it can go for 90 days! you don't need to have a masters in psychology to know that it is demoralizing to watch your allowance go down literally every day. but what to do?!?

continued...

-re-prioritize openrank. either with additional points in the bonus pool or by reducing the impact of the staked amount. personally, i like a 50/50 split. i can somewhat understand the need to prioritize staking, but not the need to abandon openrank and engagement as a factor. quality engagement is too critical. 

-guarantee an allowance at the time of staking. you stake an amount, this is your allowance for the 90 day lock period. maybe this isn't viable and there needs to be a floor instead? for example, when you stake, the allowance is 2K. the floor says it won't go below 1.5K this lock period. 

-scale up the allowance pool and max allowance as the locked amount grows. the distribution pool shouldn't be finite.

-cap the % that any one staker can impact the pool. this is supposed to be fun, no reason to let bad actors and selfish degens reduce the already small/shrinking allowance pool.

-redistribute openrank bonuses of non-stakers so its not wasted

ty 🙏

NFT enjoyooor, crypto student, $DEGEN🎩, intergalactic blockchain explorer. I'm not a moon boi, I'm a space man✨ 👨‍🚀✨ /memestoanend

"They cut off the players who didn't have the means to hold their degen, but who were great at achieving social rank."

Well said. These people are good for Degen and Farcaster as a whole, you want them involved. And, also, it's just a complete 180 and a smack in the face. As you said, I don't mind getting skin in the game, I just don't think the current setup is the right path. Need a better balance.

agreed. haven't staked yet as I am waiting for the risk/ reward to stabilize a bit before I make a decision. taking the game from all skill to 90% pay for play is too far of a shift. They cut off the players who didn't have the means to hold their degen, but who were great at achieving social rank. I am ok with adding in some pay for play. I see the value to the stability of the token price, but this model sacrifices the community that worked hard to help you scale for the entry of new participants. Hopefully @jacek can see that the balance has shifted too far and make adjustments.

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/artjournaling 🎨

art/word nerd 🤓

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Links: https://www.flowcode.com/page/jensalittleloopy

tysm. i agree it had some issues, but they seemed fixable? but every system will have its flaws, you dont strive for perfect in something like this. you minimize. 

🍖  x 333
25 $degen

As always a well considered interesting cast 
Totally agree re open rank, it’s introduction heralded much needed positive change here (although it too has things that need ironing out)
🤙🏼

🍖 x 420

Degen

I made another query that lets you simulate what things might be under different total daily allowance, allowance cap and staking cap scenarios.

Try it out and see if you can get better outcomes than I did.

Just adding a staking cap of 800k got rid of almost all overstaking and helped push the minimum stake for maximum allowance (MSfMA) down too. It's too late to do that now, of course, but capping staking at 1m would have been a good idea for everyone. Not enough thought went into this beforehand.

Adjusting the allowance cap down makes the MSfMA go up, and that's not great, even though it helps reduce overstaking.

Adjusting the amount of daily allowance doesn't have an affect on overstaking, but can lower the MSfMA which really doesn't mater now that most people who were going to lock have already done it.

Capped staking would have been the real fix for this so that's sad. Not sure how to adjust the allowance algo without some really fancy math now.

https://dune.com/queries/3912919

Interesting ideas.

I wrote a query today to figure out if there is a way to fix things by adjusting the allowance and caps numbers and the only way to do it with those is by capping the amount staked which is impossible now that everything is locked. 

So they are going to have to bring something like the social rank back in to give non-whales some kind of relief... especially since everything is stuck for 3 months now. That's a LONG time to not be able to flexibly fix mistakes.

GenX girl who learned the hard way 🔹 lifelong artist 🔹 software engineer 🔹 curator of conversations 🔹 made /blend-o-rama 🔹 thinks you're cool

what's worse is that the lock extends every damn day. it's not a 90 day problem until the stop allowing locks. 

what if they adjusted the algo to not look at a percents % of the pool beyond the max contribution?

it'd piss off the people who locked big amounts, mainly the 15M person, but couldn't you just like...work something out with them? plus, that's prolly jacek lol

Interesting ideas.

I wrote a query today to figure out if there is a way to fix things by adjusting the allowance and caps numbers and the only way to do it with those is by capping the amount staked which is impossible now that everything is locked. 

So they are going to have to bring something like the social rank back in to give non-whales some kind of relief... especially since everything is stuck for 3 months now. That's a LONG time to not be able to flexibly fix mistakes.

https://warpcast.com/bluecockatoo/0x5fdf5770

PFP: Lost Miners of the Ether

/lostminers

Yoooo great post! If I had anything tip you I would 😂. Soon enough.

@shulzzz, you just received 50 DEGEN from @jensalittleloopy!