So within this week, we have seen SHARE pump from 1 penny, up to 50 cents, then back down to a penny. It was clear that the adjusted tokenomics looked good on paper, but then when it was implemented and users saw their SHARE balance get auto deleted, the market rejected this. This is crypto and nobody likes seeing their tokens get deleted from their wallet without their consent, whether they are actually being deleted or not.
I believe there is a sweet spot on how we can implement this design. What I propose is a Bank Account tied to users dashboard. In this bank account, will be USD that SHARE holders have received pro rata during positive rebase. This USD is separate from the USD users have purchased on the open market and is treated as such. Over time, with positive rebases, this amount in a users bank account will accumulate. However, the difference here is that the SHARE balance remains the same. Users will be notified that in order to claim any USD, they will have to burn an equivalent amount of SHARE. Moving SHARE from the wallets will not auto-claim the USD, instead they will just sit in your bank account. It is entirely possible for a user in this theoretical model to sell all of their SHARE holdings, and still have unclaimed USD in their bank account. This USD will only be claimable by burning equivalent amount of SHARE, remember. Where I believe this can be interesting, and gives SHARE holders some incentive is that when protocol goes into negative rebase, a SHARE holder can then access this unclaimed USD by burning it for discounted SHARE, increasing their stack of SHARE and giving them greater rebase rewards in the next expansion. This helps reduce supply of USD in circulation, and gives a SHARE holder value that they can redeem. I believe this model checks many of the boxes that we are going for, and is the only realistic solution I can come up with. Very curious to hear everyone’s feedback and whether or not you like what I have proposed with the addition of a bank account on the dashboard