Would it be possible to make the reward rate a function of the total OHM supply instead of adjusting it manually with proposals like this seeing that we have already agreed with the OIP-18 framework?

I'm for it if we are compensated in the reduction of rewards due to the migration before hand. Other than that, anything that helps the health of the protocol, I'm down for!

I’ve been looking forward to the OIP-18 scheduled reduction for a while. My ideal way to transition would be to gradually reduce APY from here as a function of supply, such that we cross the 1000% mark exactly as we hit 10 million circulation. That might mean a series of smaller drops or perhaps a smoothed out function. We have 3 million supply to go, so maybe 6 drops of ~1000% every 500k supply, for example, with each drop spread over 3, 15 or 30 rebases.

That could provide the smooth transition that seems most advantageous.

Also of concern right now is the V2 migration. There’s a lot of confusion at the moment as the UI on the staking site is all over the place and token supply is split across V1 and V2. I would suggest we let those issues settle before starting to adjust the rates as well. Clarity is important for such a large change.

    shadow

    This looks like a different proposal from the original oip-18 one (which would knock us down a tier - not put us at the bottom of the current tier).

    Is this an additional reduction (based on the community call from earlier - a "step down" approach) or a replacement - nudging up the tier bases a bit?

    The proposal isn't moving us to the next tier. It's moving is to the bottom of the current tier over 4 weeks.

    Which would put us at the top of the new tier.

    So..... I GUESS it works out the same?

    The wording is funky shrug

    It looks like an in between step.

    Can you clarify if this is an "instead of" going to the next tier - and doing it sooner, or is it an "also, to smooth out the transition"?

      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.

        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.

        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.