the incorrect inflation saga is finally over (inshallah)
As of last week all ~$15-20m of INIT that was unstaking for 21 days has completed and the foundation's unstaking subsidies were distributed (majority claimed).
We unintentionally got to experience the affects of high inflation and delta neutral farmers. While the past few weeks have been painful, I agree with the foundation's choice to rip the bandaid on the inflation reduction and reset Initia up for success.
Since the inflation was cut, the INIT-USDC EL pool APRs still sit around 95% (half trading fees + half inflation). We've also seen growth in apps like Echelon, Cabal, and MilkyWay as users reshuffle capital to new opportunities within the economy. This was always the intention and point of having a low staking inflation of 1.25%/yr: push users to apps.
When we look back on this it'll be a mere blip, back to the regularly scheduled program.
Initia.
brrrrrr
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