I agree with this proposal. Since launch, the INDY token has only decreased in value after every epoch from rewards distribution sell-offs from SP’ers, and compounding it’s decline by the emission rate. I’ve been scratching my head about this dilemna since launch, wondering why the incentive to hold and stake INDY offers the lowest incentives of the entire platform. Somehow, more rewards should be going to INDY stakers than are currently attributed, and this would be the perfect solution. This would incentivize early adopters to stake more, and help stabilize the token’s value.
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I disagree completely to your statement that indy holders are not taking risk - indy holders are taking on massive price risk - one could argue much greater risk than somebody opening a cdp and dpositing it to ibtc or ieth or iusd. Also if anything fails on the protocol its indy holders who stand to lose the most. It deserves more incentive than it currently has in current fee/reward structure.
I literally said “INDY stakers are not taking any ADDITIONAL risk to receive that extra 10%”.
If anything fails, everybody loses, not only indy holders.
By the way, I also said that we have low liquidity because most people are minting and depositing to SPs. With all that, it is very unlikely to see a price increase if people are not putting their iAssets to work outside Indigo.
Hopefully this will change with more dApps launching this year.
I don’t like this at all, this disregard long term growth in favour of short term price actions.
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it is the indigo team dumping Indy token ,they are the ones behind the liquidity yanking. This DAO is created only to dump Indy tokens on the DAO members , nothing you propose will be actually validated. Therefore I am sorry to reveal the obvious truth, your proposal will not get far.
the whales you are referring to are actually the Indigo team, they have purposely released indy token on a high price knowing that they have to dump the token in order to take good positions with the ada they have robbed from the dao members. The whole protocol is rigged and will end up badly for anyone who buys indy above 0.00
None of this is true unless you feel like providing some on chain data of the team wallets, and the transactions where this is happening.
Take a look at the emissions schedule, and realize how early we are.
If you have some data to back up your statement, feel free and share….
It will take a full book audit and I am not an auditor, it will also change nothing. I also did not find any info on wallets defined as Indigo holdings nor explanations on the transfers and that is not by a chance but by design. There is no effort towards clarity from the Indigo side and that by it self is a reason to doubt. Indigo team should provide clear explanations if they care. What I see is wallets that never bought Indy to sell the most. The so called “distribution” is a methodical dumping and for that you just need to look at the chart if you want more proves then you will have to pay for an audit on the “books” and the indy team should allow it as well. How do you see that happening ?