With the recent turmoil in the market pushing the short term outlook significantly more bearish, there is now a high probability that Aladdin will not be able to sell bonds at a fast enough rate to support the 0.3% rebase rate we had planned initially.
The core contributor team has made the difficult decision to delay the launch of rebase rewards slightly to around January 11 and we are requesting that the community give the core team the flexibility to adjust the rebase rate to market conditions. In this case, we believe a rebase rate of 0.1% will be a good compromise, since depending on the staking rate this will still result in well over 300% APY for early stakers (it will drop as more ALD tokens are staked), but will give the protocol significantly more runway and a better position to weather market turmoil.
We know that this is a bit disappointing for the community (of course including the contributors!), however, we think everybody will agree that we must be smart and adapt to the market conditions to ensure Aladdin survives and thrives, and can achieve its goals.
A Snapshot vote will be launched very soon after this forum post goes live. We are asking the community to come vote in favor of this change, though if there are questions or concerns please leave them here in the comments and we can discuss while voting is ongoing.