I have no idea what going on I migrate my tokens lastnight because was forced to do so can somebody explain to me what this stuff means I have read the info but I still don't understand it
Migration Information
Why is the migration so buggy? Did the team not fully test this out? I don't want to migrate. I'm not doing anything with bonds nor do I want to vote
Apparently the rebasing has stopped as well. I've had the same 3.8048 staked since last night with zero added rebase. Essentially the APY is now 0%
WHAT IS GOING ON?!??!
zortag It's a shit show
Vanadio yeah we have to pay another f'n ETH gas fee. Ain't that great?
itsok Me to brother. I no longer see why this is a good project
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Corelli100 But you also dont understand what youre saying and are spreading misinformation through this thread and a few others. Im not trying to go at your throat but on another post you seem to think the amount of gOHM you have doesnt go up so "youd might as well just be in ethereum"…. the index goes up, which when you do the SIMPLE MATH EQUATION of OHM Price*Index (thats 403.07 * 47.4) you get a 19,144.82….. thats what a gOHM is worth… and the next rebase the index will be 47.7….. that would increase the value of your gOHM because before in the first equation the index was only 47.4…. now its 47.7…. and on the rebase after itll be 48…. so your gOHM price will keep rising if the price remains steady or goes up because the index is FOREVER rising.
BobbySchmurda please stop personally attacking me.
Answer one question - are they going full deflationary, therefore guaranteeing the asset value will increase?
"Every rebase event will cause the Current Index to go up, and your gOHM is worth more as a result
(provided that OHM's price stays constant)
."
So if it's not 403.07, but its' 203.07 * 47.7 you get $9687.439. Yipee! You still hold ONLY 1 gOHM.
Tell me how changing the index matters if the price isn't stable?
Corelli100 no becase if the price drops on regular ohm (just like now) your rebase wont make up for the dip in price… since 1 of the numbers youre multiplying is PRICE (PRICE x INDEX) If price drops you will wind up with a number less than before (just like now)…. We have lost USD value over the last 40 days, right? Even with rebases…. Its because the price action is moving faster than the rebase percentage… it will be the same… price stays steady or goes up you will have a gOHM thats worth more than before the rebase…. if the price goes down, the gOHM will be worth less. This is also good for tax purposes because if you receive more assets (sOHM) in rebases you will be taxed on income…. if you wrap it (gOHM), youre taxed as Capital Gains which is a smaller percentage and easier to offset if ya claim some losses as well…. hope this helped.
VETLover No theres just a price ticker for gOHM. Check the price of gOHM. if ya have half of 1 gOHM you have roughly 9500 dollars
Corelli100 bud…. youve been gaining more and more sOHM over the last month…. and you have LESS money than before… its the same exact concept. The sOHM amount would be valued into the gOHM price… thats what an index is….. So even though ya had 50 sOHM last month worth over 60k…. ya have 70 now and its worth 28k YIPEE!….. what exactly is your point? You have more and its worth less….. It seems you think theres no downside to investments…. which there is and its a risk.
BobbySchmurda lol there of course is always downside and risk, but V1 had a runway burn mechanism to prevent the price from going to $1.
Again, if you cannot stabilize the asset value (which I don't think they have anyway of doing, nothing besides USDC is really "locked" in price), then all this does is appease those who were early into the project, have already grown their holdings by some massive amount, to help with the tax issue. If you're new to this, what is the benefit?
I ask again how this is now any different from a stable coin? Index of 10,000 means little if the price is $0
BobbySchmurda and the price doesn't "always" drop now. The whole market was down, but at least my holdings grew.
BobbySchmurda Thanks a lot, so now I have gOHM staked. Its value will increase or decrease and not the quantity. But i still see stake page showing sOHM at higher level and under that we have gOHM.
VETLover Your gOHM is staked no matter what. You will never hafta unstake or stake gOHM. Its staked at all times. It also saves us those transaction costs.
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Corelli100 the holdings are built in my dude…. thats why the index keeps rising. This really isnt rocket science. Your holdings grew because ya had more of them…. now that is being included on the left side of the equation in the index amount….. Youre just saying the same things over and over and not realizing what you want is BUILT INTO THE INDEX. Yes you will forever have 1 gOHM (if ya dont add to it)….. but its just a wrap…. much like wsOHM was….. You dont get more of it, it just increases in index….. and just like now if the price goes down so will your investment… you can always unwrap a gOHM and youll have sOHM anyway. And youll see if ya wanna spend tghe money unwrapping everyday that once unwrapped YOU DO HAVE MORE sOHM….. And you can see how its accumulated. Just ask questions instead of demanding that its "ridiculous" and "theres no point"…. Just because you cant wrap your mind around whats happening. Like i said, youre just reiterating the same point and im addressing it but you keep just talking in a circle and saying "but if the price drops" ok…. but thats the same as now… you can have more of sOHM and its worth less… BOTH will always revolve around the price of OHM…..If ohm goes up youll have more sOHM on top and the USD value of your investment goes up and if its gOHM, your gOHM will be worth more… ITS THE SAME. Because gOHM EQUALS PRICE OF OHM *INDEX (Where rebases are included in number)
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Corelli100 How many sOHM you have means nothing if price is zero, right? So what are you trying to prove? If you now have 1000 sOHM and price is zero whats it worth? and tell me how it differentiates sOHM to gOHM…. IF PRICE IS ZERO YOUR INVESTMENT IS WORTHLESS… Zero times anything is zero.
BobbySchmurda Again, you're overthinking this
The ENTIRE reason MOST people invested into this project is because their holding would grow daily and you could easily see the increase.
NOW with V2, that model is GONE.
So why does the everyman invest?
Without new investors, the project dies.
So while V2 might be super great for hardcore Crypto bond holders who get their rocks off having a governance vote to feel empowered, what made this project unique from the start is now gone.
Telling the common man "yes your holdings stay the same BUT the index increases so if the price goes up you'll have more assets" is a lot different than "every friggin day you'll have more of the asset!"
Get it?
Corelli100 You are MAKING MORE sOHM… UN-WRAP. THE. GOHM!…. You can see your sOHM HAS gone up and gotten larger…. again you just basically keep breaking down that you cant figure out how a gOHM is priced! A gohm IS a bunch of sOHM just wrapped! The index will keep adding to that sOHM! AGAIN… 5TH TIME NOW…. You can UNWRAP your gOHM anytime and you will see you DO have more sOHM inside the wrap after every rebase….. And tbh i dunno why youre complaining because you can just migrate to V2 and keep sOHM v2 and keep seeing your sOHM instead if thats what you feel comfortable with. But no matter how much explaining is needed it is the EXACT same except you will forever pay high ethereum fees while the rest of us pay pennies. No more explanations needed.
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Breath
I completely understand you. You like "New Coke". You think everyone should automatically agree that "New Coke" is far superior to "Original Coke" and you're frustrated that I don't understand why "New Coke" is so superior.
Do you understand my point?