Would like to Include any Discussion related to promoting Success of CYC Elastic Token
The problem was CYC is the rewards associated with farming it. it was rewarding to the people who joined first but also quit first.
I believe the rewards should have been done in reverse. I.e. the longer you stay, the more rewards you get. A time multiplier.
First thing first… I would like to know what is retaining from listing CYC on CMC & GECKO.
Any investor would actually check on those sites before investing
For sure we need to know what the future is for CYC. We need some decent metrics for it (like rebasing history, Total Supply history, MC history etc.)
We definitely need it to be listed somewhere (Binance?) and it should be CoinGecko/CMC).
Regarding rewards :- It needs an unchanging reward structure (not with halvening like it was in thr Christmas Campaign). This could be quite modest (250% APY ?), but the important thing is that the MC continues to increase steadily over a long time. A higher APY would attract pump and dump whales - not good for an elastic token. There should either be a loyalty bonus for staying in the BNB-CYC pool, or better rewards during deflation than inflation. The rebasing time should vary from the hour following a random sample from a Normal Distribution with a Standard Deviation of 10 minutes to stop the buying and selling at exactly the hour.
We need to look at uses for CYC too - perhaps including CYC pairs (CYC-anyBTC, CYC-anyETH).
Finally we need more information about how much smoothing there is on the rebase and what it the Target Price? What Oracle is used for the Target Price? Is it actually linked to the Yuan?
I’d like to see something really advanced.
For example: Would it be possible to create a contract that prints CYC in exchange for TL FSN (at appropriate evaluation) and have the contract stake that TL FSN and award the FSN to LPers of CYC?
I’d also love to see a “cyclic” relationship in farming with ANY.
Get ANY from farming CYC/BNB (high ratio)
Get CYC from staking ANY (or similar)
CYC could become a safe haven, that still earns rewards when the market turns bearish, since it is linked to the Yuan. A growing pool (inflation) would earn BNB for holders. Of course it depends on there being a sufficient market cap to prevent undue volatitlity. I would like to see this possibility promoted, so that traders switched to CYC in bearish periods, but back to other assets when the market is bullish.
I don’t know if this could work, or if it destroys the basics. But what if there was a way to park and unpark CYC. Where if you park it it would go unaffected by rebase.
There would need to be some constraints to such a lock though. Maybe the parking time needs to be for a month minimum and that if you decide to do it, it only goes into effect 4 rebases into the future.
If this would be possible parked CYC could in fact be ysed as a stable coin and also even be brought cross chain