dns The framework is designed to actually solve the problem but it is imbalanced because the combination of bond purchases and S-OHM higher quantity holders will absorb roughly 71% of the minted supply emissions as the framework is aggressively addressing emissions. Your asking a new ohmie to hold and 3,3 meanwhile the S-OHM on the broader end continues to inflate away that ohmies value in his say "one ohm" so he is fighting a resistance battle against inflated supply and sell pressure in which that 1 ohm OHMIE doesnt win. And the OHMIE can't win because we slowed his initial growth trajectory.
Here's the math from my earlier post for people to understand - you can download the CSV from the contract and verify for yourself: https://etherscan.io/token/0x04f2694c8fcee23e8fd0dfea1d4f5bb8c352111f#balances (don't forget to remove the first three addresses as those are Olympus contracts) I'm using values from my post yesterday, so they have likely change slightly. Feel free to verify my math and prove it materially wrong.
I am applying demographic labels not to create "us vs. them" or "poor vs. rich", but rather to illustrate there's an imbalance that must be addressed or nothing changes. The founders did an amazing job and thought of many situations - this one was hard to predict, but it's our current state of affairs.
Top 5% of sOHM holders control 71% of sOHM
That's 500 addresses with a simple average of 827 sOHM per address.
The bottom 95% of sOHM holders control 29% of sOHM
The remaining 9,750 addresses have a simple average of 17 sOHM per address.
Therefore, a top 500 address, on average, controls 48X more sOHM than the bottom 95% of sOHM holders.
Something has to be done - fully agree.
However, as @shadow 's proposal only kicks the proverbial can slightly down the road as distribution imbalance above remains in the same proportion. The top 5% have the largest amount of sOHM and therefore receive 48X more emissions vs. your average Ohmie - reducing the emission rate effectively does nothing.
What I would like to understand is where is the majority of the selling pressure originating - from the top 5% of addresses or the bottom 95%? Or present a full cohort analysis as that might reveal some other issue not yet illuminated.
There's is also an optics problem as @Fulano brings up - most recent Ohmie's came here because of the meme APY and if still around will likely run if that disappears further compounding inflation imbalance issues. I think there's merit to @plutus suggestion to programmatically reducing emissions on a set schedule, well communicated, and understood by the community.
However, without addressing the emissions imbalance our problem remains, unless someone can show me that the bottom 95% of addresses originate the majority of the sell pressure.
Regarding someone gaming the system via multiple wallets - who gives a sh*t?
Can you present math showing that will negate an attempt to invert the emissions imbalance?
There is and always will be some "bad actors", but with all the gigabrains we have in this community we can combat this issue? Let's get help from Chainalysis or we can roll our own, it really isn't that hard to detect multiple wallets. Fraud detection has been running in TradeFi land for years. We aren't going to stop every instance, but you can make it difficult enough that most won't bother. If we don't want to change emission rate per quantity of sOHM, than we need to provide some other alternative for those Ohmies. A different token, product, something so they can continue to enjoy Olympus without jeopardizing the protocol's longevity. As stated earlier if someone has the data or skills to analyze and bracket the origination of most selling is not within the top 5% of holders - great, but that means we still have a different problem versus lowering the emission rate.
Again, I agree something needs to be done, but there's a proportion imbalance that must be addressed or nothing changes - those with the most continue to get the most OHM regardless of emission rate if equal rate for all. And as @shaydinblue points out this also creates a voting imbalance because Olympus votes by percentage ownership.
The founders did an amazing job and thought of many situations - this one was hard to predict, but it's our current state of affairs. Let's come together as a community and figure out how to fix things.