Introvertices

  • Feb 12, 2022
  • Joined Dec 3, 2021
  • In OIP-63: Reward rate adjustment

    asho

    Commenting on this and any other "it's not fair to new stakers who are in the red."

    According to the gainz spreadsheet, the worst day someone could have bought in currently was Oct 26. Lets say they bought 100 ohm at $1,200, for an investment of $120k.

    Today they would have rebased their way to 200 ohm, but at a price of 430, meaning their stack today is worth 86k. Ouch, right?

    By next Halloween, looking at the (rebase will outpace volatility given a 365 day window), Even at a $ 300 price point, their stack would be worth 450k. Thats about a 4x increase, and saying that price goes down.

    So any argument of what olympus 'owes' to its investors about promised gains. One, nothing was promised, two, no one is owed, and three, even voting to pass this oip which lowers APY a little sooner, people are still going to make incredible returns on their initial investment.

    I say this as someone who bought at the end of october and is currently -25% on my investment here

      • In OIP-63: Reward rate adjustment

        How does this coincide with the planned reduction at 10m supply? Would we spend the next 4 weeks lowering to 1k, only to have another vote and drop immediately after (assuming 10m in mid/late Jan)? Or is this that drop, being executed now and then we maintain at the 1k mark through the supply milestone?

        • In Market Making Proposal from GSR

          While I know the topic of people holding ohm on CEX's receiving staking has been brought up plenty, but I think maybe it hasn't been high lit the amount of hype that that might drive. In defi, 1,000% APY is considered small… having spent time in the crypto subreddit, people are hyped about staking ALGO and getting 5% APY. If we roll in there with a thousand percent? It will literally melt faces.

          we'd be looking at the insane rewards available in defi, without having to wade through fishy links, scammy dms, seed phrases, sending coins to contract addresses… It would just be people with their FDIC insured custodial wallets clicking 'buy' on our coin, and making 100x the reward of the next highest staking coin. Olympus might have trouble in defi keeping people from chasing high APYs, but we would be a godsend to 50 million? 100 million? more? CeX users that have never heard the word 'fork'. They would buy until there are no more to buy.

          the first DAO to do this wins.