will i ever be able to collateralize fan tokens and borrow moxie against them? that'd be pretty cool 👉🏻👈🏻

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Working on Moxie at Airstack| airstack.xyz | moxie.xyz | hihi! 


@proxystudio.eth is exploring this

cc also @mikedemarais.eth

/cal 

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 Building /flowcast with /mindfulness 🌊

https://wanderloots.com/links

thinking goes:

moxie token contains value
moxie fan tokens securely contain moxie
airstack is about to add timelock value to fan token decisions

so if the current plan is timelock fan tokens for greater moxie emission yield, then an alternative could be timelock fan tokens for an advanced LOAN instead, risking liquidation instead (burn the token, take the moxie).

The idea being to not have to sell the tokens to still be able to use the moxie?

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Founder of the /success channel. Search Marketing Director at Kraken Kratom. 

yep. it's also a nice honey pot that self-destructs some users.

gives 'em an opportunity to exit by accident. natural selection stuff.

I have been saying this for a bit. We should be able to take loans against our Moxie and our fan tokens. Give people the option to do that instead of selling.

A few important questions:
@betashop.eth 🙏💛

1. Is the criterion for calculating the FarPower the value of fan tokens at the time of locking them, or realtime?

2. We are adding to our fan tokens daily. If we want to lock these new tokens daily or periodically, how will this addition be handled? Will the total staking time for all tokens reset to 3 months, or will they be staked separately with a different time schedule?

3. People can change the percentage of rewards for fans. Currently, if someone reduce it from 90% to a lower percentage, fans can decide whether to sell their tokens. But if this happens during staking, users are practically locked in, and the system could be abused.
Of course, here the environment is friendly, and talking about profit from fan tokens is somewhat considered an ethical taboo, and I don’t think most people have greed in mind. But it’s undeniable that wherever there's an opportunity, exploiters might take advantage of it.

Because of the third point in what I asked Betashop, this issue poses a high risk for individuals' fan tokens. For channel tokens, however, it still makes sense since they are not changeable.

i take your point and agree.

i also agree with your hedge: it's a friendly environment and "wait and see."

could be resolved with a "fee switch cooldown" chokepoint specific to entity's own tokens.

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Because of the third point in what I asked Betashop, this issue poses a high risk for individuals' fan tokens. For channel tokens, however, it still makes sense since they are not changeable.
https://warpcast.com/omidxyz/0x08ed8d90

🎩 first, but I like being part of this experiment that is the Farcaster network. 

they will. you know they will. and it will be hilarious.

what I am wondering is how these would even go under water.

the way they mostly go up, these ‘derivatives’ would seem like mortgage-type risk as long as you don’t venture into sub-prime 😏

you are trying to pull off a Michael Egorov move ...lol :

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lol never. i clean my own house on principle and that shit looks exhausting.

you are trying to pull off a Michael Egorov move ...lol : https://www.theblock.co/post/232464/curve-finance-ceo-michael-egorov-wife-mansions-australia

Wake sold onchain gaias to buy moxie. big signal 🔥
Dive into moxie

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noticed the similarity when they proposed timelocks.

that's similar to @teller. might as well go with it.

Wake is on to something with this one 👀

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this setup is basically asking holder "how much are you willing to pay and how much risk are you willing to accept to have some amount of the moxie locked in fan tokens available for use NOW" instead of slow yield over time.

Hmmm this should be possible as the worth of the fan tokens is expressed in moxie 

Do you need withdrawable moxie ?? Cos that might be impossible, and it might affect the value of the token

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“It seems like you prefer everything to be more complicated.”

😢 😀

i identify as a problem 👺 boothang.degen.eth /decentral-perk

hm. probably, but i'm not sure what you're asking.

more likely they revise that system and roll it out in phases.

do you mean that this proposed idea should be incorporated with the current locked/ staked moxie fts?

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How balls deep would you be if this happens? 😅

a month later, wake after being liquidated:

MELONGAME 

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i'm confident they will surprise us. should be fun.

I'm sure they have surprises in store for us 😜 I trust them as much as I trust you 🎩💜

once the machine is built it can work passively at minimal expense, i think.

doesn't need scale to justify.

At what kind of volume/scale could something like this be beneficial?

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they could, ofc. that's one option but it's not the only one, doesn't necessarily injure the protocol, and yields less than altenrate choices (time weighted).

but yeah, if your brain goes to "i can make a few bucks with this" then a few bucks is all you'll make. as imagined, those short-time-horizon users exit and the protocol reclaims more moxie than otherwise.

why wouldn't everyone just take moxie loans, cash out the moxie and default on the loans?  there is very little chance the price will hold over three months, its down 90% in a month.

if they can drum up adequate liquidity, but i'm imagining something simpler:

Project Manager|| Biotechnologist|| Art|| Photography|| Memes. Culture eats Strategy for Breakfast. Founder /ftc

if they can drum up adequate liquidity, but i'm imagining something simpler:

https://warpcast.com/wake.eth/0xf8088298

Hmmmm
If you want it done like that, you would probably have to supply something other than moxie too, like USDC to be on the safer side

Idk if you know about marginfi or kamino...?

I am crypto enthusiastic person and I appreciate good music and love good food ✅