
Futuretronic
6.8K posts

Futuretronic
@theFutureTronic
They say he can see the future. They say he has mystical powers. His mom says he should get a job and move out of the basement.
On chain Katılım Aralık 2009
1.9K Takip Edilen788 Takipçiler

Futuretronic retweetledi
Futuretronic retweetledi

Should we stop ApeCoin staking rewards?
I am a day 1 staker, but would have no issue voting in agreement if I felt it was the right thing to do.
So I thought I would look into it, and see if I felt there was a good argument for this.
“The primary intention is to prevent further dilution of ApeCoin and to reallocate reserved funds for staking back to the DAO treasury for more strategic and impactful purposes.”
3 potential benefits were listed:
1 - Reduce Dilution:
Personally I am not convinced this would make much of a difference.
35m ApeCoin (3.5% overall supply) will make very little difference from a dilution POV.
At this stage of the staking schedule, the majority of the supply dilution has already been and gone. The majority of current emissions are coming from vesting schedules that are still active.
Compared to the remaining vested tokens, staking rewards are a spit in the ocean.
Based on it being ~26 months since launch, there are approximately 308,229,166.74 ApeCoin (30.82%) left to be distributed to the following areas.
(This is excluding Launch Contributors as they all have different vesting schedules and so not sure what is left to distribute on that one.)
➤ 48,888,888.84 - Founders
➤ 91,666,666.74 - Yuga
➤ 6,111,111.16 - Charity
➤ 161,562,500 - DAO
It feels like this was put in the proposal to make people think, “Dilution bad, stopping staking will help price action.”
But as we can see, there is dilution from other areas that far outweighs staking rewards.
Not to mention that this is taking tokens away from people that are more likely to use them within the ecosystem.
If you're worried about sell pressure, then you’re looking the wrong way IMO.
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2 - Strategic Resource Allocation:
The idea is that this money can be reinvested into strategic initiatives to further develop and expand the ecosystem.
If the DAO had little to no funds, then I would agree it would be better used for this.
But the DAO is currently receiving 7.3m ApeCoin a month. This is on top of the 307,725,447 ApeCoin it already has in the treasury.
I fail to see this being more beneficial in the hands of the DAO, over that of the community.
For example, if ApeChain is to succeed then it needs people using it.
In the early days I can imagine most usage coming from the community. Where they will likely spend their token rewards. Less rewards means less spending.
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3 - DAO Treasury Preservation:
Preserving the wealth of the DAO is of course a big priority. But why are they worried about 35m ApeCoin?
Especially when the DAO has as much as it does, and is still receiving monthly unlocks for the next ~22 months.
There is currently $403,545,180 in the treasury. I would be concerned that the DAO feels it may need this extra money.
Focus should really be on creating revenue streams that make the DAO sustainable long term. The fact we seemingly have little to no revenue after ~26 months is concerning.
A little note on the Dashboard.
I can clearly see how much has been spent in the current month. But no way of seeing income beyond that of a bar chart. This would be useful to information to have.
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My intention is not to throw shade, but unless I am missing something I see no point in this proposal.
All it does is negatively affects the community, with no real positive impact on the areas listed as "benefits" in the proposal.
If there was more detail given about the “Strategic Initiatives'', then maybe I would feel differently. But it is all very vague IMO.

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Futuretronic retweetledi

@WickedCraniums @travelswap Got my first and fingers crossed on the @travelswap drawing
!! Thinking of getting another and burning a cranium for VIP

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THIS IS MAJOR! 🛫✨
We've teamed up with @travelswap for an epic Wicked Wristband presale sweepstakes!
Buy your presale wristband NOW for a chance to WIN airfare & hotel for you +1 to Bone Shake 2024 in Las Vegas!

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Futuretronic retweetledi

I purchased my fist NFT in May 2021 which was a @BoredApeYC then went on to buy @WickedCraniums NFT
& @MaisonDeGOAT NFT.
Even though they did not go up in price like the Apes the community was strong and still strong today. OG Collections like these don’t get the spotlight they deserve as they survived the bear market and here today.
I am Proud to still be a holder of both collections


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Futuretronic retweetledi


Cats jokes
Why don’t cats like online shopping? They prefer a cat-alogue.
There are only 3000 @GutterCatGang. I am no mathematician. I just know there's limited amount in the cat-alogue.
@GutterToken @YugenLBS @GutterCatGang
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Joining the @MagicEden Creator Alliance alongside all of the legends involved is a proud first public step for the team as we lean into a big 2024.
If you don’t support removing all Cranium related and future Black Chip IP from marketplaces that aren’t willing to support creator royalties, it’s time to get tf out.
We brought Wicked Craniums into the Black Chip fold with love as part of a much larger vision. Put some respect on this name because we’re about to start cooking.

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@WickedCraniums @MagicEden Congrats, from surviving to thriving. Black Chip don’t quit!
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To honor this Chad’s big buy, I’m giving away 55,000 in $Bets.
To enter:
🔵 reply to this tweet saying $bets is based.
🔵 retweet this post
Let’s have some fun. @AllStreetBetsV1
Packrip Ewing@PackripEwing
Some Chad just aped $55,000 into $Bets in a single buy.
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