Let’s vote. We’ll never get a consensus here and turnaround time on responses is too slow…
I can’t wait for the vote to be taken.
ditto, lets get on this. Though, the bull market in crypto might be getting started again and that (beta)could save ANC… would rather it could stand on it’s own two feet tho.
I’m new to all of this and perhaps I’m missing something, but as a borrower I don’t give a rat’s ass what the APR incentive is because I’m here to accumulate as much LUNA as possible. I started buying at $5 and kept borrowing against the appreciation and the results, now that the coin is ~$30, is beyond my wildest expectations.
So why the hell would I care whether ANC is up, down, or at $0? Honestly, I haven’t even looked at the ANC rewards, I know they’re there, but that’s it.
I mean you are only looking at the lens of a borrower and in the scenario of a bull market.
If there is a bear market again it would be nice to have ANC higher. There are also people in LP tokens and those that hold ANC for staking. It would be good if the price doesn’t drop…
Think of the broader scope
Making people hold ANC to get the top yield could become awkward, if ANC is going to be a base layer protocol that other protocols will use, not just users.
If the objective is to improve ANC’s price, governance could reduce the 20% yield to 18%. I doubt it’d have much effect on how many people deposit, since it’s a small change and still gives a better yield than any of the competition. BUT the increase to the yield reserve would allow for more ANC buybacks.
I think that’s the cleanest path to more valuable ANC.
Although since your post in July, ANC has rallied although not enough and is now steadily slipping down again. For me this subject has been talked about at length now and action by the Anchor team needs to happen. Whether that is increasing the staking rewards or introducing a bonded version alongside bEth and bLuna as discussed elsewhere. I asked in several places, when bAnc? But my question always seems to fall on deaf ears. If something is not done soon to rectify this I personally will be cashing out.
Thanks for contributing, I’m very exited about this.
This new tokenomics model would be why you want to hold ANC - [Proposal] veANC: Evolving Anchor Tokenomics