I’ve been thinking about this for a real long time. And I had a chat with Feddas in Discord too. I think the prototype needs a rethinking otherwise no one will buy the token.
The current positive mechanism is stopping people from buying in the token. It takes a percentage of holders token into treasury then dump to buy stable coin. This a negative process where everyone donate their shares to harm their own net worth.
YAM was popular before V3 because people has imagination about the treasury in the DEFI upsurge. High APR farming projects give people a great imagination of the treasury growth, then they expect a return from the treasury. However, after the full prototype is working, treasury didn’t do a magic, it is still a normal treasury with some incomes. Yam holders have no benefits from it. Then the imagination is break. People wont want to go to positive rebase to dilute their holding without any benefits.
One of the solution would be just letting the marketcap drop to the treasury price or find a way to grow the treasury to the marketcap, then use the rage quit to setup a solid ground. This may bring a positive loop when treasury growth marketcap growth then token price growth and positive rebase growth the treasury again. This may be very hard as the dumping is almost finished, only unstable negative rebase can shrink the marketcap, most of time there is even no one clicks the negative rebase.
Or we can consider a speculation approach. Using the treasury to buy in yam at a low marketcap position, then stop the rebase or treasury gathering. There is very small dumping pressure right now. Then release some good news exchange listing, YCP or other product release to pump the price. Then treasury can sell yam gradually to increase the treasury value.
Those may not be good ideas, but the prototype really need some changes, otherwise i think we wont see any positive rebase even with the YCP release. Then in a long run there will be no one shows interesting about this project.
I’ve been here since the bug, and i lost years of saving in this project. I really want to see it raise again, popularity wise and token price wise.