scenic bear
First and foremost, I've noticed a prevalence of queries within the community regarding the exchange ratio for each season. To address this, I'll be referencing the official document statement and sharing my perspective based on community discussions.
MyShell operates on a system called 'seasons'. The conversion ratio of Shell Points to Shellcoins each season fluctuates in accordance with the total Shell Points generated within the season and the anticipated distribution of Shellcoins. This concept is straightforward: it's a measure to control inflation. Without this conversion ratio, an influx of new users in a particular season could trigger an excessive issuance of tokens for that season, which would be detrimental to the overall value of the tokens. It's a well-known fact in the banking system that interest rates typically shift in response to economic conditions. If interest rates were to rise in a declining economy, it would result in everyone depositing their money in banks, thereby significantly reducing the liquidity of money.
The crux of this design is to bolster the resilience of the entire token system. It prevents a sudden surge in user numbers from causing a massive issuance of currency, thus maintaining a relatively stable coin price.
Moreover, the significant increase in this season's exchange rate is due to a surge in user numbers. A cursory survey reveals that these new users are a mix of open-source project testers joining the community and web3 enthusiasts eager for airdrops, with a fair share of grinders interspersed. This project has surpassed my expectations. The official actions seem sincere and intelligent. They've effectively employed a 'honeypot' strategy, a common tactic in network security. This strategy not only curbs the activities of grinders but also redistributes their coins back to the community, a commendable move.
sonic sinew
tacit raft