Anschel Thank you. You are exactly correct. This is a PR nightmare in the making. You can't rug pull the APY from people who entred at top... and then turn around shill "3, 3" to people.

    Can you give me any benefit to do this in say 3 months instead of 3 weeks? I can't find any reason why this would be better ..

    Chrysus33 it has been announced for some time that the APY needs and will go down.
    Keeping the APY high will hurt newcomers and the protocol.

    As for delaying this decision it will only hurt as even more and scare possible new OHMies that will see there is no runway left. People that were here at the beginning had it pretty rough (I am not one of them), would you join Olympus if there was only 2 weeks runway? That is a huge risk

    I'm for, if the only other option is Do Nothing. However, I would suggest the community discuss what is the end-goal emission rate. Is even a 0.35% too high to create the goal of stability?... in other words, by lowering the reward rate just a little, but not enough, is the proposal only making the problem worse?

      Pechos it will be revisited wen the locking proposal comes as the rewards structure will change. This proposal will already give us important data like: are we able to increase runway?

      Chrysus33 - I do not think this qualifies as a "rug pull"

      JaLa actually made a great comment today, I wanted to transfer here:

      It may be helpful to look at this from a risk perspective rather than rewards. Flip it around and ignore number go up and utility. The risk of holding OHM is very different today than it was in March. The protocol now needs to pay you less to hold it becuase the risk of going to $1 tmrw is now much smaller. The market now requires a lower rate of return.

      All credit to @JaLa

      Thanks @Don_G_Lover.

      Just to add (I've stated this publicly but want to post it here as well): This isn't a rug pull by any means. If you were a long-term staker, this should not impact you much over that time frame. The total amount of rewards being given to stakers is not changing, they are just being dripped out more slowly to sustain the runway longer. Greater sustainability will ultimately lead to more profits for the protocol and more rewards for the long-term stakers.

      Consider an extreme scenario for a moment: Today the protocol has ~ 5.5 million DAI worth of treasury assets (at risk-free value). What if the the protocol gave it all to stakers in one rebase? We'd all get get 15x more OHM. That would be awesome! Everyone would be rich, right!? The fly in the ointment, however, is that there would be no more rewards to give out to stakers and therefore no incentive to hold. There would be a race to unstake and sell (-3,-3) and we would quickly hit floor value. Not only would we not be rich but we'd all probably be worse off than we are today,

      Though it may not seem like it, we are too close to that extreme scenario today. The rebases are too high, which is doubly negative: a) people can basically live off of dumping their rebases and b) it means a shorter runway and less confidence in the viability of the protocol. Slowing rewards moves us along the spectrum to a more comfortable and safe place where we can continue to grow profits for months and years to come. I really believe anyone with mid-to-long-term staking aspirations will be far better off.

      12 days later

      Chrysus33 Just something to think about....if you bought 1 OHM today (6/26/2021) for $300, with a 0.5% reward yield from today onward, in a year's time you would have 196 OHM. Here are a few OHMUSD scenarios for how much that 196 OHM would be worth:

      $300: $58,876
      $150: $29,438
      $50: $9,813

      I'm not going any lower because it's likely the risk-free value of one OHM in late-June 2022 will be about $50...but even if OHM somehow dropped below the RFV per OHM, you'd still break even at $1.53 per OHM.

      Hey guys new OHMi here.

      I have noticed the ROI (5 day rate) decreasing and wish to know what date is the end of the 3 week reduction and what will be the final ROI?

        11 days later

        Mattdpirate I believe the 3 week reduction has already passed, and last week we saw the target .50% rebase and 20k APY.

        You do raise the valid question of what is the expected settled ROI or whether there is a predicted continued drop down to another figure?

        Today we're currently at 0.4645% with an APY of >16k

        Thanks Redhairedguy,

        I think the 0.35 reward rate was estimated to achieve the 20K APY and 0.5 rebase rate. Which now that we are at 16k APY has shown may have been a bit aggressive.

        I think everyone who was voting on this would have voted on being close to 20K APY (0.5 Reward Yield). Perhaps the reward rate should have been the variable to maintain a constant APY? Once 20k APY was achieved the reward rate was then fixed and held constant.

        Surely the 16K APY is much lower than expected by everyone and if actually intended to be closer to 20k APY an adjustment of some sort could be made?

          Mattdpirate I think that potentially where we are now, should this reward rate hold actually is acceptable > time.

          20k APY would be nice, but at the current APY / run rate it does feel tennable.

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