Kutu2

  • Jul 11, 2023
  • Joined Aug 12, 2021
  • I think IF OHM's focus is no longer on getting and retaining new retail investors then this is ok (and corect me if I'm wrong, but I get the impression that this is the case…the focus has shifted to getting new OHM partners rather than retail investors for growth)

    But to be honest I would hold the APY as is if it were me. For the longest time we've talked about how "Price doesn't matter!" but now we are ALSO saying "APY doesn't matter!". It's a hard pill to swallow and I just think the messaging and TIMING for this reduction has to be carefully considered.

    1. OHM forks are still gaining traction with higher APYs and arguably some with higher engagement.
    2. The messaging for how OHM's use case is superior has NOT yet diffused to the masses and hasn't had time to soak in
    3. OHM approved projects had not had the time to prove their worth (KLIMA, ROME)

    with all that in mind, really to the average person the only thing they can definitively rely on when investing is the price and APY…

  • shhpoodlet5-25-2 Have you even read the rest of my comment? I said there will be people who just don't want the protocol to give to charity, and there's nothing that we can do about that. I am arguing that the proposal was written badly and was trying to sugarcoat it. If all you saw was the "climate change" part then I think you've proven my point. And yes I did see some comments about people not happy with the money going to conservation, and that is entirely fair.

  • Its interesting reading the various takes on the matter and I guess my main take-away based on what I've read is that the OHM community isn't ready for this.

    Here's what I think the problem with the proposal is:

    1. Unclear Benefits to Olympus
      I think the problem here is how the proposal is written. A lot of fluff with the right buzzwords but I can't really decipher what the benefits are. IF there really aren't any tangible benefits or if the real goal is to give to charity, then I think that's ok too. The proposal just has to be honest about it. I think you would have had a better responses if you just took away the section about "Benefits to Olympus" and instead focus on how Github impacted Olympus (with some facts and examples and not fluff).

    2. It's entering a space that is highly political
      This is sad to me because in the crypto space I want to believe we can put aside political biases, but sadly this is not the case, and for some people "climate change" is a trigger word. If github is a community of developers, then focus on developers. Pushing the charity down one political path is only going to divide the community. Maybe one day we as a community will be ready, but this is not that day.

    3. Is it a charity or is it a partnership?
      This is probably rehashing point one a bit but really…is this a charity or is this partnership of some sort? Clarity in proposals like this is key.

    Some people simply dont' want the protocol to give to charity, and if that is their stance then I think there is nothing you can do about it. Don't sugar coat your proposal with intagible benefits and just try again in the future. Maybe the community will be ready then.

    • OK so I see the biggest point here is about the variable rate calculations. That almost requires an entire discussion in itself. Might need an AMA just on this topic. In the other hand, experimenting with layer 2 is wise. Eth gas prices is getting ridiculous.

      • Zeus replied to this.
      • I am For the audit. But… paying an auditing company in OHM… isn't there a potential for it to be construed as biased? It's like a public company paying an auditor with company shares. YesI agree you could argue that would make the auditor more invested in making sure the company is compliant, and why would they risk their reputation anyway? But hey sillier things have happened. If one of the bigwigs in the auditing company is short sighted they may decide to give OHM a sparkling review, get paid, watch the coin pump, then dump. Just a thought

        • Dudemyguy Thanks. I guess I was more thinking about a one pager rather than having voters go all over the place to look for the info. Jusst trying to make it easier for people to make an informed decision!

        • I am for proposal 1. The shared data makes it clearer where the spend is going.

          But for proposal 2, I like that it is based on a target, but maybe it would help to publish our current standings, trend for the past year and WIPs in a single page? That would help voters get a clearer understanding of the baseline.

          i.e

          what is the current number of Ohmies staking and what was the increase trend for the past year?

          what is the current number of Ohmies on discord and what was the trend for the past year?

          what are the current or target proposed partnerships in the works?

          what are the current or target new integrations?

          • el_dan0

            That's fine though. It would still discourage the behaviour and it is an easier problem to solve ultimately. There are protocols out there which help detect multiple wallets linked to same users. The bigger the whale, the harder it is to hide.

          • dns agree with this. Instead of decreasing APY based solely on total supply, it should be based on how much ohm a single wallet is holding. Give ranges similar to the framework where the more you hold, the less your rebase rewards. This will help encourage more users to the protocol and reduce the power of the whales