As we have been discussing in a few previous meetings, rewards abusers are still active and we (concerned community members) feel it is not fair at all. The team must take action toward each of those accounts.
New accounts are “stealing” curator rewards by self-voting, which results in draining the daily rewards allowance to only a few accounts.
There are LESS THAN 50 genuine users of Yup. The rest are just abusing the rewards system. @nir, you can’t make a point that they are using the protocol better than others, because they are abusing it.
Since Yup does not have any barriers to earning YUP, there is no value for the protocol to the abusers.
@nir made a point against the barrier of entry to earn by giving an example of Aave. BUT Aave is NOT free to use, right? You need MONEY/Crypto in your wallet in the first place to use that platform, and then it is absolutely free to use.
Yup is giving away free money, printing thousands of YUP for only 10-15 accounts.
Find out the OLD USERS (users who had YUPX, those are the users who are still with us and deserve clean
and fair protocol)
A soulbound NFT drop to those OLD USERS. These soulbound NFTs give users the right to earn in the Yup Protocol.
Next set of users will be REGULAR USERS. Take a snapshot of users BEFORE Yup got $3.5m funding. Those users will be able to mint these soulbound NFTs at very cheap prices.
Launch a Sybil hunting program, where community members will identify the abusers.
BLOCK them all.
The rest of the new users MUST mint one of these soulbound NFTs to EARN YUP.
Without NFTs, anyone can create an account, rate, collect and use the protocol but CAN NOT get rewarded for curation.
We can design a few categories of soulbound NFTs and give them influence points according to its tier.
- Inflow of money for the Yup Protocol.
- Sell pressure will be gone.
- Demand for YUP NFTs will rise.
- No need to worry about abusers for long term.
- Barrier of entry to earn model. Just like everyone else.
WE CAN NOT TAKE A TOKENISED SNAPSHOT OF THIS PROPOSAL, BECAUSE WHALES WILL OPPOSE THESE DECISIONS. THIS WILL TAKE AWAY THEIR MONEY PRINTING MACHINE.