No rebase rewards all day

Corelli100

Staked

7:00AM I had 3.8048

11:48PM I still have 3.8048

Since the V2 migration was announced and implemented, the old rebasing seems broken

And NO, I don't want to spend another $150 to migrate when I'm already down$ 1000 on this project in the last 2 weeks

itsok

same here, another rebase just happened and no rewards received. who else has this? or is it just us two?

im in rari fuse so they said it would automatically go to V2, is that not true? love the project, would just be great if it gets announced that migration is a bit messy

Blake

Same here its happened the past two days now

Corelli100

This feels to me like they want to do away with the entire staking model and make everyone go to bonds. From what Ive been watching, even if you migrate to gOhm, you no longer see any rebase growth in your holdings.

Honestly it feels like they just killed the entire rebase/staking model. I see no benefit to gOhm as I am not planning on working with their bonds nor do I want to vote

itsok

I just read the migration thread:

things seem to change a bit and i am unclear if they manage to exchange the rari fuse sOHM V1 tokens on their own: right now most people believe you need to pay off the loan and then migrate yourself to V2 and do it all over again. For me that means an additional 2000 dollars spend on migrating. staked OHM Version 1 will not get rebase rewards right now, when you guys migrate to Version 2 they will be factored in ( the missing rebases), meaning you are not loosing rebases - you have to migrate from version V1 to V2. it means interacting with the contract - they call it - as of now I can't find an easy link on the website yet - so I recommend waiting a bit longer. just now your rebases are in the OHM matrix and once this migration to a safer and sounder token contract is done you will receive lots of rebases at once! - when you migrated to V2

Corelli100

itsok Not actually true. The new "rebases" do not increase your holdings.

Corelli100

Here's the rub

"Will my gOHM still earn rebase rewards?

Yes. Although gOHM does not change in quantity upon rebase like sOHM does, it still earns you rebase rewards. This is because the price of gOHM is tied to the Current Index:

$gOHMprice=OHMprice∗CurrentIndexgOHM{price} = OHM{price} * CurrentIndex$gOHMprice=OHMprice∗CurrentIndex

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)"

This means your staked balance DOES NOT GROW, and this becomes little more than any other crypto asset. It will only be worth the current price

BASICALLY, the just blew up the entire point of investing in this project. Might as well just put your money into Ethereum or another stable coin that does not have any type of growth

This really sucks

"(provided that OHM's price stays constant)"

And if the price drops?

How is this anything more than just another run of the mill crypto now?

BobbySchmurda

Corelli100 You have no understanding of anything. Please stop talking ab things you dont know.

itsok

Ok, so you have wsOHM?

your text is only referring to gOHM - the governance token. I assumed you just had staked OHM. My answer is referring to staked OHM, that will be updated and will grow in number once you migrate to V2.

gOHM is calculated differently - see your text. It's a different token. Same project - similar concept - different token utility

Corelli100

itsok incorrect. Migrating to V2 ends the staking and growth model altogether. Read these 2 sections

"Why do I need to migrate?

V2 migration introduces new features such as on-chain governance and auto-staking for bonds.

Transitioning from sOHM V1 to gOHM allows for multiple bonds to be taken at one time, as opposed to one bond per vesting period as it was in v1.

Partial liquidity will remain for v1 OHM while the migration is in progress. This provides sufficient liquidity for borrowers to close or move their borrowing position."

This means the staked OHM gets migrated to gOHM

Part 2:

"Will my gOHM still earn rebase rewards?

Yes. Although gOHM does not change in quantity upon rebase like sOHM does, it still earns you rebase rewards. This is because the price of gOHM is tied to the Current Index:

$gOHMprice=OHMprice∗CurrentIndexgOHM{price} = OHM{price} * CurrentIndex$gOHMprice=OHMprice∗CurrentIndex

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)."

See what I mean? Your gOHM does not change in quantity.

I got in this project to stake and grown my holdings. Migration to V2 ends this model - 100%

itsok

your numbers and you calling it staked OHM is more referring to sOHM. the 1000 dollars for example, you would be WAY more down if this would be gOHM. I think that sits at 18.000 dollars or so - haven't checked for a while. You are getting those things confused. So what I said - according to everything I found out - what i stated is true.

here is a coingecko link to gOHM

https://www.coingecko.com/en/coins/governance-ohm/usd

itsok

mmh. I am starting to get confused now. this is from ZEUS on oct 19th:

You will not miss rewards, and there is no rush to move. This also means that borrowers do not need to move their position. It is only when adding that you will need to acquire gOHM or sOHMv2 instead of wsOHM or sOHMv1.

So there is a sOHMv2. I also read above that he is suggesting to move it all onto gOHM, i thought its more meant as a base layer. Why would he address the sOHMv2?

It is confusing. Could somebody else chime in?

itsok

and to you thinking we have to move to gOHM. gOHM is basically wsOHM but a new token address. I felt no need to move over - I currently don't care about governing rights. So everything that I read it's somebody's personal choice to be able to vote or not. I do wish someone who knows a bit more would clear this up. ANYONE?

xplo

There is a lot of misinformation in this thread.

You do not "lose rebases" if you migrate to gOhm. While you have the same "number" of gOhm, it compounds by price, instead of number.

sOhm price = Ohm price

gOhm price = sOhm price * current index

Where current index increases by Ohm rebasing.

If you psychologically like to see the compounding of sOhm, once migrated to gOhm you can go back to sOhm, which will now be on the new v2 contract.

All that said, comm's from the team have not been great during the migration, outside of Discord anyway.

Remember, time in Ohm beats timing Ohm. Even those who bought in fresh at the $1200 sOhm peak are ahead thanks to the rebasing.

Corelli100

xplo Ok, thank you for the explanation, but if it compounds by price, that simply means the price goes up, not that anything actually compounds.

So instead of having MORE assets, the asset value merely increases, correct?

If so, then the migration destroys the entire rebasing model.

Unless they are going to be fully deflationary at this point, there is little here to get excited about. In plain English, "We used to increase your holdings every 8 hours. We will no longer do that, the holdings stay flat, but if the price goes up you'll have an increasing value"

So basically, its just like every other coin out there, with nothing but the price to determine it's value.

This is like a dividend now, which makes it like a security. At least make the new rebase in something of value like USDC, so you don't inflate the damn thing into oblivion

Corelli100

BobbySchmurda Then explain it Bobby. I used their documents here, not just my opinion

BobbySchmurda

Corelli100 go to the other thread… i responded with a detailed reply for you. Sorry if it sounded like i was going at your throat

BobbySchmurda

Corelli100 the index is FOREVER RISING that means the rebase is included in that number… when you mulitply numbers together if i have a number that i keep telling you gets bigger everytime we multiply that is the definition of compounding… so if our index is 47 today (example)…. and the price is 100 (example) a gOHM would be 4700 bucks… but the NEXT REBASE THE INDEX IS LARGER… 47.3…. NOW what is $100 (price) times 47.3 (index)?….. $4730/gOHM….. Next rebase after that the index will read 47.7…. whats 100 (Price) times 47.7 (index)?….. 4770/gOHM…. notice this price keeps rising because 1 of the numbers we are multplying by keeps rising…. that number, the index (47, 47.3, 47.7) forever keeps rising because the rebase is built into it.

Corelli100

BobbySchmurda why does it matter if the index is "forever rising" if its not a deflationary currency?

Have they guaranteed the supply of gOHM will not increase?

Corelli100

BobbySchmurda thank you for your input, but unless the actual price of gOHM is now locked in, I don't see how a rising index does anything. The overall supply can simply inflate away any index increase.

Am I wrong?

BobbySchmurda

Corelli100 Bud youre not saying anything different than what can happen now….. if the price goes down who cares how man sOHM ya have?