Wait, just to be clear.
Does this new system remove any existing multipliers?
Meaning people who have been in BADGER from the beginning will have no “early investor” perks??
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This is also what I understand.
This is one of the reasons why I have asked if we have actually planned how it will be best way to transition to this new model (and all the implications, one of them being what you have just posted).
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Let’s wait for the devs to respond to us.
I think there has to be a way to keep our “early investor” perks.
To strip that away from us entirely doesn’t sound encouraging.
Especially thinking that we were the first supporters of the project and like myself - have brought in lots of capital into the project through my network.
We supported through participation in this forum, as well as helping people in Discord, etc. Bringing new people in, educating, sticking it out when others were dumping. And just to take all those perks away just like that? That just doesn’t sound right as one of the “early investors.”
Maybe people can be airdropped different tier NFTs or something (i.e. 8 weeks of staking has this perk, 7 weeks has this perk, badger earned times XX has this perk, etc etc). But yea, I think people who stuck it out and supported the project from the beginning should be rewarded in the long term somehow - even just a little bit. To just have that differentiating factor and a pat on the back of “thank you for believing in us, here you go”. It makes these early adopters feel good about supporting the project which in turn will keep them motivated to spreading it, etc.
By just stripping away those perks, some will feel disregarded and unappreciated.
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I am under the impression (correct me if I am wrong) that the multipliers are active in the geysers and that we are getting the earnings as per our current multiplier depending on the time we have been staking. So early supporters should be currently earning more than someone who started last week.
Also, people that supported the project from the beginning are being rewarded with larger allocations of $DIGG.
Meaning that early supporters are being rewarded fairly.
However what about your future rewards - what you would have expected to receive with max multiplier? Probably larger accounts have exactly the same concern as you do.
So a relevant question would be: with the $BADGER + $DIGG you’ve earned for being early supporter, would that be enough to get a good boost so you can maximize your future rewards once this BIP is implemented?
For smaller accounts, the answer is clearly yes. This will be beneficial. But for larger accounts I am not so sure.
Yes, early supporters are currently still earning more than someone who started last week in the geysers due to their multiplier.
Yes, DIGG airdrop is calculated by badgers earned, staked, etc so being an early supporter gets more DIGG.
Yes, currently early supporters are being rewarded fairly - I agree.
The future is the point. I’m not sure, but it seems that after this BIP takes effect, early supporters don’t even have a little bit of perk over the newcomers. Is that right? @Mr_Po
Yes that’s the relevant question.
What would be defined as a “larger account”… or “smaller account” . What are those thresholds?
In my opinion, everyone who takes part in the initial liquidity mining program is an early supporter.
The earlier you started, the more you were able to earn at high rates of emissions.
So early supporters already have considerable advantages as you mentioned, but also the rates of emissions will not always be as they are now. So if you’re a newcomer a month from now, you will have a smaller % of supply distributed your way already.
Adding any cut on top of that would be disincentivizing for new entrants, and thus the total amount of value in the system would likely get lower comparatively.
There are no thresholds for larger and smaller accounts, what matters is the ratio of what you have in Badger compared to what you have in BTC in Setts.
It will naturally be easier for smaller accounts to get higher ratios, but the point is about BTC earning / Badger held ratio.
I estimate that the majority of early supporters who use the Setts will be better off with this change compared to the current system.
But there will be no mechanic here that puts one Badger holder into an advantageous position over another Badger holder.
That is, 1 Badger = 1 Badger.
1 Badger /= 0.33 Badger of a Badger that has been owned for a month longer.
Iirc the original multiplier was meant to be active for the first 8 weeks of the program, not forever.
The new multiplier will bring utility and demand to Badger token, which think is the most fruitful outcome for the early supporters.
Also please keep in mind, that the orignial multiplier doesn’t reward the early supporter per se. It rewards all the addresses that have been staking for 1 month. So in December 2021 ‘early supporter’ would be the address that started staking in November 2021.
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There kind of is a mechanism in BIP-24 that favours certain user types. The pure LP/bBADGER holder who invests all their money into native positions and doesn’t hold any non-native tokens is at a disadvantage because they can not take use of their boost. Allowing them to lock in their commitment to the protocol for a boost would give them back an advantage. Sure anyone else could also have this advantage by locking, but I think this will “FEEL” good for die-hard LP’s. So much about crypto is actually making people feel good 
@Mr_Po if you disagree we can hash that one out on discord sometime 
100% agree that even our current Geysers aren’t a bonus for early users, but more for senior users as we move forward.
100% agreed. I feel this would be a step backwards…
Would this proposal make make you happy?
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wait wth haha i thought I replied this on your thread actually not on this one xD
https://forum.badger.finance/t/rewards-multipliers-for-time-locking-lp-tokens
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Makes sense, thanks.
I agree with this. Some people will not hold “non-native” tokens and only hold BADGER tokens. there has to be a way to give them back some advantage as well.
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I think it should be tokenized locking and fully composable like veCRV, but I don’t know if such a long time period for such a young protocol as ours is a good idea. Things change very quickly. I think shorter time periods to test the waters would be better.
Yes perhaps.
The thing about the veCRV lock is you get the decay in effect on yield.
If you have 4 years lock at start then 2 years in you need twice as much Curve so you need to keep buying.
If we have a 1 year lock on BADGER it actually accelerates need to buy as 1 month later you need 8% more BADGER to sustain your lock.
And 1 year is less offputting than 4 years.
So even a 1 yr lock would actually secure even faster buying and locking by BTC whales. Agreed.
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