OIP-63: Reward rate adjustment

yrys83

Reaver I believe it will take a month before we start lowering the apy. If that is the case then Im in favour. As long as we can all vote with our gOhm.

Platinum_Duck

Does anyone else feel like we are tripping over our own feet right now?

alefort

Platinum_Duck What a lovely way to describe the current state of this project. I feel like everyone means well, but the execution of recent proposals has been poor.

0x0rko

In traditional startup land the runway sweet spot for early stage companies is usually around 1.5 years (about 20-25% less than the 700 days proposed)

More runway may feel safer, but it often also has the effect of getting complacent. I don't think we need 700 days at this stage tbh. 1-1.5 years seems like a better medium to not be in constant fear but also not feel to safe before we hit breakeven.

Rasuki

I think we should do the proposed reward reduction on the 1st of 2022. A fresh start for the year and for ohmies will be good both statistically and mentally. Please like this so it gets considered. THANK YOU!

0x0rko

For context re: typical startup raises https://www.codingvc.com/p/how-much-runway-should-you-raise

The 'raise' part doesn't apply as much here ofc but the runway part does 100% imo

D_C_Crypto

Yes.

Most definitely for it. LFG !

OberonSky

@shadow Agreed, however I prefer if we space it out a bit more (6-8 weeks?), as I understand if we start reducing APY the date to hit 10M will be shifted back also due to lower number of Ohms circulating?

Sirz

Absolutely all for the rate reduction and keen to get this happening asap

streetjesus

100% percent support it’s important that we Remember that the health of the protocol is the most important thing. I understand wanting to stick to the framework but doing that when it is detrimental to the protocol doesn’t make much. Better to correct issues when they rise than waiting till it’s too late and doing it in a panic.

Coud

there is never a right time for everyone, as per OIP 18 im ready for this!

WillyAR

Although I agree with the reduction of the interest rate, (I clarify that I am a participant of less than two months) I believe that this will produce the massive withdrawal of funds to other platforms with the consequence of the reduction of the OHM price. I would hold a less aggressive decline so profitability remains tempting to new entrants, thank you. My vote is in favor of the reduction.

jellyfish

Sure, let's do it. Anything for sustainability.

We can always change it back to a higher value down the line if we want to, so it's not like this decision is a one-way street.

Necroid

What an amazing idea, lets reduce even further the apy that has been decreasing at the same time the price has, that way we both go to 100$ AND get 10% of the apy we should have! This is genious!

Necroid

FluctusLux You do realize that you get absolutely nothing out of "Olympus doing nothing but growing" right? They do, you dont

abipup

Necroid who's "they?" We're all on the same team here ser

CMill

Slash APY and let's move forward.

cambyses21

Accelerating the APY reduction will reward people who were in before the cut vs diluting them throughout the reduction period. Drop the APY and do it faster.

Chauloko

I'm all for it, APY needs to go down, supply needs to go down to bring back some utility.

Also, this does not apply for this case in particular, since reward rate needs to go down anyway, but I'm throwing it out there for other situations: I don't like the idea of formally voting for anything without being able to look at the data on the dashboards, and the dashboards have been showing crazy stuff while the migration is ongoing. So… What I am proposing is that there's no push for any proposals unless absolutely necessary during this time and until that is completed.

Sadinoel

shadow

Bring on The OHMening.

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