y0b on Farcaster

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I wanted to see how much damage overstaking is doing so I finally sat down and figured out how to write a Dune query. Since this is my first query, I welcome someone checking my figures/calculations, but it looks pretty valid to me. If you don't want to click through, here's the results as I write: Lost Allowance Amount: 392,174 Total Overstake Amount: 33,989,745 Total Locked Amount: 390,023,685 Below Allow. Cap Above Allow. Cap % of Stakes 81 19 # of Stakers 6,736 47 Staked Amt. 315,298,133 74,725,552 So about 9% of allowances are lost that could have been distributed to smaller stakers because of overstaking. Some people may think that's no big deal, but it is to me. Small stakers need all the help they can get and their allowances will continue to go down as more people lock up their DEGEN. They are stuck for 3 months like this... https://dune.com/queries/3912382

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Yup we need some clever ways to reuse this "lost allowance" since it's only going to get worse as more people stake. Hope this "tweak" comes earlier than later down the road.

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Allowances for everyone except for those over the current “minimum stake for maximum allowance” (MSfMA) will go down as more people stake. The pie is always getting smaller and that is by design to encourage you to keep putting money in and extending your staking lock period. Setting a limit on the amount of total and an allowance cap instead of just a fixed allowance per amount you staked is where the problem is. The MSfMA also moves as more people stake, and so even the whales aren’t “safe”. No one wins here but the devs in the end. Locks are just a hostile mechanic and proportional allowances with caps just adds to the problems for everyone.

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