Idea Summary
Seeing many FUD in some bigger AMPL channels on Telegram, and other sensible members telling them, your market share of AMPL just don’t change the mindset of Fudders, be it intentional fudders who don’t understand how it works, or serious newbies that come in and hodl, not understanding how negative rebases affect them.
It will be easier to explain to them, or get people curious about the ‘weight of their bags’, especially during bad times. So instead of them going panic mode when they see their number of AMPL going lesser after each rebase, a weightage % of their current market share might encourage users to accumulate more, or even encourage them not to give up the current market share.
Execution
Not sure if we should create a wallet Dapp specifically for AMPL holders. But if we do so, it might be good to support staking on other pools that are popular with decent audits done on the smart contracts. Aside from that, the main dashboard will show analytics of AMPL hodler, such as their AMPL tokens over a period of time, their % of market share difference, usual questions asked by some amplers, such as current/total supplies, market cap, a much needed chart of current marketcap and current supply. We might want to add potential AMPL releases from the contract to the seed investors, or upcoming rewards program, so that users can foresee a increase in current supply in the near future.
Expenses
Development of the Dapp will be the main expense for this. A decent UI will be helpful. Alternatively, to allow higher adoption in future, catering to ‘lazy’ users who finds dapp interaction using metamask is too complicated, we might want to come up with something else that encourages that. Interaction and referral of app will be encouraged, but let’s leave it for future development when we get this started first.
Examples
I don’t think I can bring up a relevant example. But a good way to envision this would be an interactive frontend block explorer that provides dashboard statistics to each holder.
Idea timeline
I’m sure with a few seasoned dapp devs, and a decent frontend, it can be done relatively fast, possibly in a week or 2 if we’re just creating a dapp and a site that allows web3 interactions. Might want to customise it when shown in a mobile browser like Imtoken.
The problem of newbies not being able to stomach the double blow of price as well as token amount dropping when ample swings down is indeed a tricky one to solve. Instead of developing a separate wallet dapp this could be solved by a single asset pool that buys Ample and mints non-rebasing tokens redeemable for the pool share thus being a wrapped Ample. This way the underlying mechanics would be hidden from view of the uninformed investor while allowing exposure to the growth of Ampleforth. I imagine this would also be a lot easier for exchanges to list.
@FudBuster Yea, having another asset might ‘comfort’ the uninformed investors over negative rebases. But I think what we should do is to educate from the start about the elasticity and mainly let them accept the negative rebases as a norm, or even a good and healthy retrace, as compared to an immediate financial loss which most sees now.
We can do both in parallel, to balance growth in both financial value and education.
Alright, then I think I should change my idea to more of a deep information page specifically for AMPL, and perhaps showing some of the upcoming events, such as seed investor’s unlocked tokens, new programs for LPs and so on. Showing how those unlocked tokens will impact AMPL market in numbers to prevent the spread of FUD unneccessarily, especially during this early stage.
I’d like to focus more on education and helping the community accept rebases as what is it, and hopefully more will understand how the reduction in supply are supposed to lead to price/market discovery. Is it ok if I edit my post and change the idea a little?
Really interesting idea. I’m flagging this for a potential proposal in the future. :).