I don’t love the idea of putting so much of the reward pool into DeFi… for starters, it sets a precedent that may hinder later allocation ideas. For example, once you create one-click nodes and get a ton more people running nodes, it would be better for the security and scalability of the blockchain to reward those people each period as well. And for people who don’t participate in DeFi given the risks of hacks, but who want to be in governance, they are getting slowly diluted each period. I would leave it as is and not expand this program beyond the current allocation.
in what sense? please can you post the report that backs up this claim? Because pricewise it is really the opposite.
Foundation released a report on the success of this initiative a while back.
This report is totally useless. It says the targeted rewards was a success because the TVL increased at the time, more users participated in governance and governors earned more.
So everybody got more ALGO during governance which they dumped in the end and ALGO price tanked. Good job.
Even if all Governors dumped ALL rewards it wouldn’t have had the effect on price that you describe. The volume has been low for months, there were lots of macro factors effecting price as well. Also you must keep in mind that the total rewards for Governance are actually down, so how is it that the sale of rewards are driving the price down further when there are less? Your theory just doesn’t make sense. People exiting the market is one thing, but that’s not due to Governance or any Measure in particular.
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I know for a fact I got way more rewards than I started. Find out how.
I think we should continue the targeted Defi Rewards program for another 2 years. It will surely help increase capital inflow into the Algo ecosystem.
This should be an upcoming measure draft for GP9.