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RuGenerous DAORuGenerous DAOby0x50BF4d981B2764C5D435Dd7B727a43091631FD910x50BF…FD91

RIP #7 - Reduce APY to X%

Voting ended about 4 years agoSucceeded

Hey Ruggers,

Generally Higher APYs are attractive and incentivize new people to jump into DAO projects. $RUG used to be one of these, however often times, without a new flood of investors, a High APY becomes a hindrance to DAO projects (that seek longevity). With the ongoing selling pressure and price dumps (by Whales) - it seems that at this moment, the high APY is doing a disservice to $RUG.

Higher APYs essentially payout massive amounts of $RUG, which in turn dilutes the value. We are being diluted faster (high supply) than the Demand by new incoming investors. I propose to reduce the APY to X% (Voted on below) until we see price stabilization. Although we want to remain competitive with APY, we need to REMAIN. Therefore, the Cut will have to be drastic. Another Proposal will be made to reverse this when we can see organic Growth again.

For simplicity, I will convert this to a 5-Day ROI. Current 5-Day ROI is 77.49% (12/13/2021)

Off-Chain Vote

5-Day ROI to 25%
3.21K 17.9%
5-Day ROI to 20%
431.93 2.4%
5-Day ROI to 15%
449.78 2.5%
Do Nothing to 5-Day ROI
13.83K 77.2%
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Timeline

Dec 13, 2021Proposal created
Dec 13, 2021Proposal vote started
Dec 14, 2021Proposal vote ended
Oct 26, 2023Proposal updated