KlimaDAO Forum

This should to stabile project.

[unknown] i agree, good point

revote on kip3

Wishing the team the best!

[unknown] I understand the logic and this helps the protocol in long run!

OHMkindaguy NO it wont. They literally gave single individuals more klima that there is even in circulation, and free reign to sell it. We need them to fix pKLIMA.

Daishi Agreed, a huge problem here is that the project started with whales built in - so folks like me (10 sKliIMA and bought some at 3k) who've lost 40% of investment are stuck with dropping prices and lower APY's .. I'd have no problem voting for a lower APY if I had a ton of coin at the beginning. Whales might be all that's left because the economic incentive to remain or join up is disappearing when compared to other projects that are maintaining high APYs.

I predict people in my situation will dip out if the APY goes substantially down with the price bottomed out in the next couple weeks. But, this is a great project I hope it doesn't happen - I hope idealism doesn't get in the way of raw competitive economics which is the arena we're dealing with here

Wonderful project and believe in it with a majority of savings in it and hope current price meltdown is solved or any incentive to hold for long term holders is lost, price charts tell a story of inflows right before distribution and outflows and sell right after distribution, zero reason to hold long term just trade away right before and after distribution. Think this issue must be solved or project is doomed, regardless of APY or timing issues of blockchain, a never ending downward pressure from short term traders being created and long term holders see holdings Disappear in value and being crushed to zero

I believe decreasig apy twice so close together is a bad idea and could be damaging. Lets keep it at .46 till mid or end of Jan. If you decrease it then it will solve the issue and you wont lose those stakers that chase the high apys. Im in 4 projects, this is my series one where I have 60% of my investment and hopeing hold over a year , possibly 2. We need to attract new stakers not scare them away.

IMO it's an early call. I would wait after January

I agree with the reduction of APY
The platform health makes the community healthy on the long run

bradboy To clarify on my previous comment, I am pro rate reduction to promote long term success of the project. I just would like to understand how a 0.417% rebase leads to a 22k% APY target. As previously stated, 0.417% rebase with 1200 epochs in a year is around 14,650% APY.

I do not think it is smart to advertise an APY goal of 22k% "only" to produce 14k% APY. Unless my math is wrong, let me know. I do know that in general, when an asset underperforms projections, the sentiment tends to be more negative. My suggestion is to accurately display APY at the current rate, even though that number will fluctuate.

I don't see what the controversy is. This was what we agreed upon from KIP-4. It's just about fixing an error. I'm all for it.

I think that the rationale is solid, but the timing is unfortunate and the solution bad marketing.

We all know we are in for the long run, but this move is bad for the general mood. I have friends who entered ad 3200 and now the price plummeted at something above 1/4, their heart might be with us but if they see the price keeping nose-diving, their enthusiasm can be a lot curbed. Announcing a further reduction in APY doesn't do anything to alleviate that. It would have been better -- if at all possible, I have read no discussion about this idea -- to adapt the pace to the faster block generation, padding for the increased speed. You might say it's the same damn thing, but it isn't. People are not rational or Apple would not do 9.99 prices instead of 10.-

Plus, this comes in a time when original investors have seen their pKlima frozen for an unknown time for reasons that have not been explained in full, methinks, and that could totally change the value of pKlima to zero in perpetuity. So I guess they are adding their monetization -- the few that remained -- to the general trend, generating a self-feeding process in a perfect storm scenario.

A falling price for Klima is very dangerous for many who are taxed on rebasing, since they are taxed at a price level that has no reference with the actual value of their rebased Klima. This taxation would take a chunk that could even be higher than 75% than the value and if the free-falling goes on people would be forced to monetize just to pay the taxes because they will eventually exceed 100%. If you pay like 25% taxes on 1 rebased Klima @2500 average and it falls at 500, taxes would be higher than the actual value of the additional Klima for November. With no sign of plateauing, people would start wondering if any APY would ever cover just taxes and flee, and that's the equivalent of a bank-run.

I am abstaining on this vote, since I share the motives but not the message we are conveying.

pKLIMA needs to be dealt with when there is a V2 of the contract.

Cujo I'm wondering how it is possible that this has been going on for weeks and nobody notices anything. Such a critical error and reduces confidence to this project.

Daishi That sucks that you've lost 40% (and dropping). Have you run the calculator though? Even with a massive (-90%+) drop in both price and APY, you'll still come out looking respectable if you have a long (365 day +) horizon

kappa3-3 I feel you on the "bad marketing" sentiment, and that comparison to Apple's 9.99 vs 10 pricing. We are not rational, and mood matters. On the other hand, a healthy acorn will self actualize into a healthy oak tree even if it's being born under unnecessarily cloudy skies. It might just take it an extra growing season. But once grown the tree will last a century. We need to keep a long term horizon.