Hi All,
From what I’ve seen to date. The token provides a backstop for the protocol, to help cover risk of shortfall. But this is a risk the investors take on, which they are rewarded by money printing APY for staking, ie: share dilution.
This is not a real ulility tied to the ecosystem. We need the token to be integrated within the eco system. IE: To lend borrow, you must use the Moonwell Token, either directly or indirectly. Potentially through a burning mechanism. There is obviously a spread on the lending and borrowing rates. Where is this profit going currently?
With all due respect, even a meme coin can have staking for a APY %. We need actual functional ultility for this token, and I think this is where the team and community needs to be focused, ASAP