TLDR; I dump ANC every time I earn it. I wouldn’t if my Anchor Earn yield was dependent on it.
I agree with both the subject of this post as well as the proposed solution.
As crypto winter approaches, sellers will look to put their stables to work. The best tokenomic models for this situation will incentivize users with higher yields on stablecoins for hodling, not borrowing.
If offering 200%+ for borrowing isn’t doing the trick, then it’s time for change. I propose cutting the ANC borrower incentive in half (which would still equate to 100%+ for borrowing) and using the other half to further incentivize Anchor Earn.
Someone more mathematical than me can crunch the numbers, but something like Nexo’s Loyalty Tiers which rewards lenders with higher yield the more native token they hodl has proven to be an excellent model.