Eaxctly. This thing needs buyers, not sellers. So start with a low marketcap.
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100% agreed. donāt need to airdrop people who donāt participate in the network development and being here only for such drops. And even if we start with a high mcap it definitely will be dumped by these people to the lowest one or even deeper and may even not to raise again.
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Of course, I would also like clarification. However, I believe the square root of the total earned will be your āweightā for the distro., not the number of tokens received.
Something like:
Sqrt(your badger earned)/ summation(sqrt(all badger earned))*fraction of badger allocated to farming/airdrop
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i agree, there should be a benefit from those that hold in good times and down times
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This. Reward strong hands, punish weak hands.
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Iām just trying to understand the implied fully diluted marketcap vs real marketcap. Please let me know if Iām correct:
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If you launch with the highest (6250 DIGG, 130mil mc), the peg will be far from BTC until the marketcap reaches 130mil?
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If the price is < peg, there are negative rebases
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Negative rebases at the start can be a buying opportunity, but potentially dangerous for new investor sentiment?
When will the distribution be?
ppl who can get airdrop should hold badger, for example the same number of square root.
itll come down to market perception.
while the fully diluted cap would be 130mil (because liquidity will initially be added at 1DIGG = 1BTC) there will be much less (basically just the airdrop, so will depend on vesting). but even with no vesting its only 15% of supply so circulating marketcap would be 19.5mil
now we will have another 40% in the treasury that badger holders control. performance relative to the peg will be decided by the market.
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Ideally going off of rewards does this to some extent. stronger hands should = bigger multiplier. Would this be a request if the price was $15? im generally not in favor of doing something just because of the state of the market. Feel free to start a forum post if this is a serious change you think the community will support.
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You are of course correct. I was just venting.
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I got some ideas - from original Ampleforth investors - that will create utility for the DIGG token. Happy to share after launch. Itās aimed at lending/borrowing with DIGG.
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yeah, I second the distribution over badger earned. That is great. I am glad I staked my badger!
As fair as possible, interesting how people chose polar opposites for vesting and mcap. I would say it should go one way or another. Meeting in the middle wouldnāt give clear direction
can we get @delitzer or @spencernoon or @pythianism to give us a sizzler of a take plz lmao
@bberry259 i support a new forum post if u want to create one. it seems like $badger could be dumping due to reduced rewards to the $bager sett and $badger staking. it seems necessary to keep the $badger sett always highly incentivized bc rising tide lifts all ships and $badger sett/staking creates constant buy pressure. however, all of us here are here to earn yield on $btc ultimately, so dumping $badger when/before $btc pumps is also logical and could be the real reason for $badger price dip. my thoughts are that this is worth a discussion
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Maybe we should deposit it into a sett for them and give vest btokens.
Yam are removing the rebase
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Leaning toward lower initial supply. It feels like if we airdrop too much value out of nowhere it would lead to an initial selloff and negative rebases. And sure, a vesting period sort of solves that problem, but at the expense of smoothing out the initial liquidity (and unnecessary complexity imo).
Iād rather just start with a smaller total value, let airdropped folks sell immediately if they want (someone has to provide liquidity). Buyers will be able to absorb the sells with a smaller total MC, leading to some early positive rebases.
I donāt have a strong opinion on if mined rewards should be vested or not. My bigger concern is what happens at the end of 8 weeks when rewards dry up. Weāve seen time and time again, TVL follows yield, and a lot of the whales and degens will leave.
Maybe that was the plan all along - build massive hype and awareness to jumpstart the community, and then keep the loyal users that are still interested long-term. That said, Iād rather see a smoother distribution schedule so we donāt fall off a cliff at the start of week 9. It could demoralize long-term holders if thereās a big sell off too. Iād rather just see rewards decrease week to week and slowly trail off over a longer period of time, similar to the shape of BTCās distribution curve.
Maybe you still end up at the same place - people who are going to chase yield will leave over time eventually. But at least it lessens the impact and spreads it out over time so thereās no death spiral after the bulk of the rewards are done.
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+1
It would lead to much nicer price action if we could rebase a lower supply upwards.
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