Work we're doing to improve Collateral Repay

Marginfi’s Collateral Repay feature uses Jupiter to power the swaps required in a collateral repayment. Jupiter swaps are variable as they strive to provide the best possible price for a given pair, this can cause transactions to fail as we are already limited on transaction size. We are working closely with the Jupiter team to improve this.

I warned you, I wrote it right here, that the Marginfi team is farming users’ money and that they should release Airdrop quickly. Other protocols will release tokens and take the lead in the market. Well, here’s the proof, you are being left aside and this will happen more and more. Few people are interested in the protocol, the vast majority are locking up money for the airdrop… you need to release the first round of the airdrop and separate the wheat from the chaff, after that you will have the users’ trust. I ALREADY TOOK ALL MY MONEY FROM MARGINFI… and more and more people will do this… but, you can remain “ignorant” and not listen to what the market says: “PLEASE YOUR USERS AND YOU WILL BE REWARDED”.

I’m sightly struggling with what you are saying here.

Are you on one hand whinging about them not doing the airdrop and on the other admitting you were only here for the airdrop?

If so, why on earth are you surprised they are dragging this out, when mercenary capital like potentially yourself will move on the minute they release a token???

Don’t get me wrong, some clarity after the recent chaos wouldn’t go amiss.

Am I just speaking reality man, or do you believe that most people are putting their assets locked in protocols because they like the protocol??? DO YOU REALLY BELIEVE THIS?? If we don’t start from the reality of the facts, we won’t get anywhere. The fact is, people are interested in air launches, 90% of the money locked in the protocol comes from people who have this interest, this is a reality and looking at reality makes you know how to act in the face of it. If a protocol doesn’t reward people, they will transfer the value to the next one and that’s final… there is no charity in this universe, no one is there for the love of the protocol. No, I no longer have my money locked in Marginfi, I put my money in protocols that give me more profit and it has worked! NEVER MARGINFI AGAIN, I will not leave my money in a place that cannot be clear about its future, without dates, without deadlines and without forceful announcements. If you don’t like reading about reality, if you like fantasies, I can’t feed your desires by writing fantasies. Sorry for the sincerity, but it is necessary.

It is the reality.

My issue is airdrop hunters always bloody moaning about the behaviour of protocols, when that’s driven to a large extent by the behaviour of investors.

I’d be lying if I said I wasn’t airdrop farming, but jeez, I am sick of the moaning. Absolutely sick of them polluting Discord, Telegram, etc.

Especially the idiots (not you) that still expect a massive payout when every man and their dog are now airdrop farming lol

Yes, it is a big challenge for protocols to maintain the health of the protocol and please the public, but the airdrop has to serve precisely this purpose. I consider that dividing the airdrop into stages, 3 stages throughout the year, with linear accumulation of points, keeps people happy and staying within the protocol. On the contrary, what marginfi has done is promise an air launch and not give any satisfaction… and the team continues to be involved in problems.

Kamino released the scores from the first airdrop phase, I’m still strong for the second phase.

What is different about Marginfi that makes it so special? This is how the CEO who left the team treated the project, as if it were the “BEST PROJECT ON THE FACE OF THE EARTH”… There is no product different from those on the market.

If you look, I wrote a message here on the forum two or three months ago, mentioning that if they didn’t go live quickly, they would lose a large portion of their users… that’s the logical reasoning in the crypto world. The logic of advertising where you create a mystery in the minds of users so that they are even more stimulated by the end result only works with rare products like Ferrari, Apple and some others. How is Marginfi different for them to think that users will wait two years with their capital locked in the protocol without any rewards??? Make a linear distribution.

As I said, I have already abandoned the project, I am not interested in complaining here, but rather in talking and sharing my impressions.

It seems that Marginfi doesn’t know how to listen to the market and users, they live and decide things based on what they think and not what happens in practice. Etherfi released the first part of the Airdrop and is now in the second phase, I sold my rewards from the first phase and put them in ETH to participate in the second phase, that’s how the game works and that’s how the big protocols are doing it. Marginfi wants to invent the wheel, but the wheel has already been invented.

PS: I agree with you, it’s very annoying having to read piles of complaints, because basically no protocol is obliged to give us money heheheh. Sometimes we complain about having a full belly!

I hope the Marginfi team wakes up to the fact that they won’t be able to stay on top if they don’t create an ecosystem that pleases the user, the bull market is here and Kamino, Drift and others have better strategies. Good Luck to Marginfi!

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Im pretty sure youre posting this in the wrong thread. Theres another one about token distribution.

Anyway, what you are proposing is a way to keep airdrop farmers happy, not users. I think its only those people that cant stop complaining.

Sure, to a degree we’re all farmers, but you have to know what you signed up for. Exactly nothing lol. In exchange for using the protocol you earn points that maybe someday will get you something. If thats not enough for you to use the protocol for a prolonged period of time, you should pull out and you will get diluted. I would say thats probably a good thing.

As much as I like free money, I really cant stand the entitlement these people feel.

Would spreading out an airdrop like kamino does, not just delay the inevitable loss of artificial tvl from farmers?

I just read the last post. See Im kind of repeating what @SorbaTown said lol

No, I’m not talking about keeping airdrop hunters happy. I’m saying that most of these airdrop hunters are users of crypto ecosystems, creating sympathy with users is part of the way…

Everything you said would be valid if Marginfi hadn’t launched a scoring system, but Marginfi did it, launched a scoring system and is now being recognized for not keeping promises. This isn’t my problem, it’s Marginfi’s, let the developers solve it. If you want to believe in your own illusions, that’s not my problem either… Kamino has already won the sympathy of a lot of people, if 10% of the users who won the Airdrop remain in the ecosystem, that will be great. … Marginfi is earning people’s dislike, that’s a fact. If developers don’t understand consumer/user psychology, hire someone who specializes in the field. Finally, I’m no longer at Marginfi and I know that the team has many, many, many things to resolve. The main thing is to change the mentality and understand that the user is in charge, unless you have a different and innovative product, but Marginfi’s product is everywhere, there is nothing innovative and it will not be making promises without fulfilling them will win over users.

See, your theory about airdrops is contradictory because Marginfi created a points system precisely to attract airdrop hunters. If they weren’t actually messing with users, they wouldn’t have created the scoring system…

And of course, no protocol needs to give out money to people, so every protocol needs to find ways to attract users. Without the scoring system, what would Marginfi be?

What promisses is marginfi not keeping though? Did they ever promise to launch a token within a certain timeframe? Yeah I would be annoyed if they end up not doing an airdrop, but I dont think thats the case.

Perhaps they would have been better off pushing a token sooner, but thats their business and not ours. So that doesnt justify any feeling of entitlement imo.

Ive not always been a fan of marginfi’s loose cannon style of communicating and it never looks good if a founder walks away. But I dont see why they wouldnt be able to redeem themselves. Twitter mobs typically have short memories.

Idk the longer it takes the more likely I am going to dump it and walk away from the protocol. I really regret not just picking Kamino at this point. I liked where marginfi was going but as you can see we are not getting much participation because everyone is upset imo.