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!

@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?

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

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.

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

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.

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.

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!

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

      Slash APY and let's move forward.

      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.

      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.

      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.

        What I'm trying to figure out in my mind is whether or not the migration crisis on hand right presents an opportunity to push this in now with the narrative of further stabilizing the protocol and the value of OHM. It's clear to me that our current APY is not sustained by the rate at which the protocol is bonding. If we don't adjust the APY, the 'bleeding' will go on even longer.

        At what cost? Selfishly, I'd love to get more runway at our current APY. So this will cost me some OHM now.

        But I'm in this for the long-term, and a more reasonable APY has a net-positive effect on the protocol and OHM.

        Also, this reduction was inevitable. We knew it was scheduled to happen at some point. We were told at 10 million OHM.

        So what effect does doing it earlier have on the reputation/trust of the protocol? Sure, we'll always have people displeased (especially those with a short-term mindset), but will there be a large enough impact to the protocol because of doing this rate decrease early? For example, how was the decay rate of the APY supposed to be managed between the upper and lower bounds of the period? Was there an expectation set that it would decay linearly with supply over time? I don't think there was, but if not, this is also an important lesson in setting expectations. Saying the reward rate has yet to be adjusted since the initial value at 1 million OHM sounds like the team either forgot, was afraid to do so, or plain lazy. You're going to have people complaining that the decay was mismanaged and that now we're being penalized with a reduction before the 10 million mark. We have to be aware and navigate that PR storm.

          All for this. It seems like the team wants to make the unpopular but necessary adjustment just a little early, this just shows the good intentions imo. Nobody likes to lower the apy of course but it has to be implemented anyway in a few weeks, so why not just get started with it now? The difference in rewards between implementing now (which will still take weeks) or as per OIP 18 are minimal if you're taking a long-term approach. Voting for 100%

          I am in favor of extending the run way, however I think we need to wait until things have settled after V2 is all in place. I feel like its a great idea, but the wrong time.