Beninem
@beninem
Ooof... bbye MOXIE, if only you had better tokenomics than say USDC freely provided by FC devs
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Dan Romero
@dwr.eth
It's unrelated / additive?
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Gwynne Michele
@thecurioushermit
My daily average of Moxie is far more than the 5 USDC, but I was still tickled when it hit my wallet cuz $5 a day is STILL more than I make in the official Facebook creator performance bonus program - and my peak reach last month was 4 million impressions there. I've been a full-time content creator for a decade now, I'll take all the ways the moolah wants to flow to me I can get if I can sit and babble about what's on my brain all day long to people who wanna read my nonsense.
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Beninem
@beninem
They're doing 5 USDC...now. I imagine that 'numba go up' drastically if they see success here. And if so it will mootify MOXIE pretty quickly (quick than MOXIE's bad tokenomics are already mootifying itself).
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Gwynne Michele
@thecurioushermit
You're assuming they'll expand it into a broader program rather than just a leaderboard incentive program. Multiple programs can coexist in a healthy economy, and the tokenomics of Moxie creates vastly different motivations for engaging in that system above and beyond just earning Moxie for good content. There's no investment incentive with the Warpcast USDC program - you're getting paid in a coin that's designed to be stable by nature. Moxie, while great for content creators, is still a risk game, and that brings a different sort of economics to the table, especially with the addition of fan tokens that create mutual benefit for creator and fans.
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Beninem
@beninem
Multiple programs sure can exist but only if they're not flawed from the get-go. And actually they both might be flawed. The Moxie tokenomics have everyone trying to get free Moxie while no one is incentivized to actually buy/hold/use Moxie. So despite what you may think, there is no "mutual benefit" here as the fans are getting hosed. And with no underlying demand of Moxie that's a blueprint for token death as we're seeing. The USDC program might also be flawed in that Dan and co. need to see some kind of ROI on that USDC they're freely giving out. No ROI (in whatever form that may be) = USDC program death when they run out. My guess though is they'll be far more successful in this endeavor as it's easier to go fishing for good, new outside content with a sign that says "FREE USDC!" versus 'FREE MOXIE!'.
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Gwynne Michele
@thecurioushermit
Name one thing that has ever come into existence without flaws. Flaws do not predict failure. I'm not so cynical. I see devs with slightly different motives applying slightly different tools to tackle the problems they're identifying. Experiments to see what happens. If it fails? The next project learns from it.
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Beninem
@beninem
You're right. I guess I'm just waiting for the MOXIE pivot to occur whereby the team recognizes that maybe they went about things wrongly and then come up with a solution. Or maybe a new Moxie group of devs will come out with a new project with similar incentives, different tokenomics and actual underlying demand drivers.
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