BIP 7: Badger Emissions for Week 3

I’m actually growing quite frustrated with this. Not everyone has thousands of dollars to throw around, but of course we all want to get where you all are. Transaction fees alone have eaten all of my gains from staking and without the further incentivized LP sett, you’re talking a crapload of even more fees when I unstake/stake several different times to join the newly incentivized setts. I’m a believer in this project, but am beginning to see that it’s really only for those with higher levels of capital. I saw somewhere that it was created for both whales and guppies, but explain to me how in the world I could’ve ever had a chance at getting any of the real meme nft mining rewards without thousands of more dollars to stake. I had to take out a loan just to participate in the nft mining. My point is, it’s becoming clear that the game theory behind all of this is definitely not level across the playing field. Unless I’ve misread the intent of this platform, I’d say the core game theory needs readjusted.

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please dont take out loans to participate in crypto. none of my business, but ive seen plenty of people wrecked, and its never fun

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damn, increase $badger sett APY in week 3 emissions

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I dont think the BADGER sett rewards should be cut that drastically, otherwise it seems OK. But I agree with the sentiment, that especially with the current gas fees this quickly becomes a whale game only. Which I thought was not the point…

Someone needs to explain the x3 multiplier in more detail. That’s the only thing that could keep badgers in staking. After that it’s the 8 weeks cliff that’s the real concern. Curious to see if DIGG can offset this to avoid the fate of farmed tokens.

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i would also like more color around general $badger economics. honestly if i could read the contracts i feel like it’s all right there but it’s like an alien language to me right now

it’s a cold world jebert6. many of us here have also been rugged/had bad experiences learning the ropes in defi. badgers stick together tho, ur in the rite place

I thk that badger sett should no be cut as much.
Pershaps 90000 instead of 70000?

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I agree it’s important to design emissions in a way where their isn’t a sharp cut of.

There are a few ways I think we can do that.

  • Firstly there is 40% of the supply in treasury that can be used for continued incentives
  • we can extend incentives by slowing emissions down
  • Institute a buy back program using our treasury and have that compensate per week with the emission reduction.

Through the last 2 practices I think we can extend LM for double the time without touching treasury.

Coupled with that we ofcourse have DIGG to incentivize user deposits.

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all of us here are at least intermediate defi users compared to what is coming so i like the idea of keeping fixed supply for the sake of the newbies who need to grab a narrative or they won’t take the leap. but if the system works then the narrative will work so fixed supply might not actually matter

I just changed my vote to “No”. why such a big cut in the badger APY for week 3 emissions? We should incentive people to keep and stake badger for new people and keep the ones that were there from the beginning.

In my opinion, using the gradual emission reduction schedule is the most effective way to keep as much liquidity as possible while also getting a good grasp on how different incentives numbers affect TVL per Sett.
When the reductions are gradual, there is no clear exit point for the committed liquidity.
Having this data available could be extremely useful for carving out programs for future Setts.

Regarding the treasury buyback programs, I would rather consider integrating the treasury into the Setts and using the interest acquired for the buy-backs.

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As for the Week 3 emissions, I like the structure.
Adding WBTC/ETH pool is a great strategic move, as it will likely raise the TVL for BadgerDAO significantly.

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I agree at this point we need to consider long term vision. Weeks 3-5 will go fast over the holidays. Long term emission schedule and long term health of this project needs to be the most important discussion after DIGG launch.

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Agreed. We need to define an emission reduction strategy before week 5 along with the buy back program. I know a few folks on the team are going to be leading this @DeFiFrog and @jonto.

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Yeah, I have a preliminary model in mind too, but things got a bit more complicated with the DIGG launch, so now we have two tokens and two Sett types to balance out.

But this is a good situation, as it provides us an opportunity to extend the liquidity program for longer.

I’ve already suggested a method to balance the Badger-DIGG emissions here.

Basically, once we agree on the different input parameters, applying a simple “fading out” multiplier will do.

The initial BadgerDAO liquidity mining program can easily last for 3-4 months instead of 2 without significant losses of TVL.

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Agreed. I think if we add in a buy back initiative thats redistributed to product users that will help fill the emission reduction as well.

Would be great to have your help leading this plan.

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Sure! That would be an exciting thing to do!

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Thanks for your contribution Mr_Po. I think the buyback initiative is a spectacular idea! I’m glad that it’s being put in the forefront :slight_smile:

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Closed as BIP has been accepted.

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