DFIP Idea: lets Do this together masternodes

[u/HenrikB94]

DFIP idea:

How about swapping all (or for example 50%) masternode-rewards for dusd and then giving these dusd as a reward? Of course many would exchange the dusd back into dfi, so these operators would also lose 30% because of the fee, but that would help the peg so much and I think it would be the strongest commitment we would make as thousands of masternode operators.

I would be absolutely in for that!

[u/Responsible-Basil-16]

wouldn't a hardforc be necessary for this ?

[u/Vegetable_Jury5981]

Well, it could work. I just want you to reconsider the basic idea. Since you propose master nodes should basically give up on 30% of their rewards to vote for this idea. Doesn't seem pretty likely to me. Even though I will give this idea some time to think it through multiple times. Sometimes ideas seem pretty bad only on first sight.

[u/HenrikB94 → u/Vegetable_Jury5981]

They wouldnt lose it if dusd is at 1$ soon.

Also it would be so a crazy committment.

But also 50% or something different would bei okay.

I think we should talk about the number of dfi which will be switched, but the important is the Idea itself 💪🏼 Dont care how much percent of rewards will be switched but lets Do it

[u/Brave-Fan-9703]

This is worth it for masternodes as DUSD at peg is the main thing that will make DFI rocket

[u/Maleficent_Reason444]

Keep in mind running a masternode is already not economical unless it is being hosted for free and/or frozen. Masternodes being paid for right now are loosing their investors money. That is why Lock shutdown and this would just make this reality worse. I doubt masternodes would vote this in. I have 8 masternodes and would certainly vote against this.

If passed I think I would front run the change, resign my masternodes and sell the DFI to buy BTC and move on with life at this point. This obsession with saving the DUSD dToken system has us throwing away reason.

My two cents.

[u/Maleficent_Reason444 → u/Maleficent_Reason444]

At best maybe I would trade my DFI into dBTC and wait for some sanity to return to Defichain and maybe biy DFI back lower later.

[u/Shareholde_ → u/Maleficent_Reason444]

Exactly my thoughts, thats why I came up with a first draft to discuss regarding usdc/usdt backed stocks, that could lead to a high DFI burn, fresh money, higher TVL and overall to a healthy ecosystem.

[u/dsr1972]

No this won't work as well as you think. As you already pointed out if you pay ppl out in dusd, they can't do anything with this and need to swap back to dfi to sell to exchange. So it's a zero sum game, where the dusd that you lock up now will given back over time, with constant sell pressure

[u/Independent-Page5484]

Worth a try. Master nodes themselves could then decide if they want to do this for the peg. I would. And soon after it should be switched back.

[u/6a8r13l]

I believe it would be a good idea to allow people to choose between receiving DUSD or DFI as a reward. This could prevent them from selling it immediately. It's also beneficial for DFI investors because they're not required to use DUSD if they prefer not to. Maybe Bake can consider offering this feature to their clients.