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Post new topic   Reply to topic The Vault- Interest rates?
korrinn torrinkos



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 PostPosted: Mon Jan 06, 2014 8:54 am Reply with quote        
Why did the interest rates drop to 0%? Just last year it was 1%... Now none? WTH is going on, guys!?
Chu
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 PostPosted: Mon Jan 06, 2014 12:13 pm Reply with quote        
As it was, over 500,000 silver was pouring into the economy each day. We need silver sinks already, and because so much was produced from that, we shut it down. We're thinking of making some changes to the vault, but for now, we're just shutting off interest because we have to focus on other things at the moment.

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Jandi



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 PostPosted: Mon Jan 06, 2014 3:45 pm Reply with quote        
Noticed that a couple days ago,was wondering why my amount wasn't going off after 2 days. Well, I guess it's back to the Battle Arena I go.

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korrinn torrinkos



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 PostPosted: Mon Jan 06, 2014 6:05 pm Reply with quote        
Chu wrote:
As it was, over 500,000 silver was pouring into the economy each day. We need silver sinks already, and because so much was produced from that, we shut it down. We're thinking of making some changes to the vault, but for now, we're just shutting off interest because we have to focus on other things at the moment.

Why not set it up sort of like another site? Maximum 5K in the bank for interest. Over 5K, and it stops? And make it weekly?
Jandi



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 PostPosted: Mon Jan 06, 2014 6:43 pm Reply with quote        
I think if you made it so we had to LOG IN and specifically GO TO the vault to collect the interest, then your problem will be solved.

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Peril



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 PostPosted: Mon Jan 06, 2014 6:46 pm Reply with quote        
I haven't even been using the vault, but I really like Jandi's idea. Yet another incentive for folks to log in!

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Catghost
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 PostPosted: Mon Jan 06, 2014 6:52 pm Reply with quote        
Jandi wrote:
I think if you made it so we had to LOG IN and specifically GO TO the vault to collect the interest, then your problem will be solved.

The silver would still be collected, even if you haven't been on for weeks - if all you had to do was log in to get it, users could easily get 10k all at once.

Interest has been turned off because it was a questionable feature from the start, and has shown to do more harm than good. Until we can get a hold of our economy and figure out a better system for the vault, interest will remain at 0%.

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Jandi



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 PostPosted: Mon Jan 06, 2014 7:09 pm Reply with quote        
Log on and actually go collect it every 24 hours. As Peril said, it would encourage people to visit and log-in even for a bit.

When I saw the interest was 1%, I was on for a longggg time i the battle arena, playing that thing with NO life until I made enough to even collect a minor interest. And from there I did even more and more in the battle system. It was the only thing that made me log-into the site, lol.

I mean, I don't mind it being turned off. But that's just my two-cents.
I was waiting for it to be cut off, anyway. The moment I hit 300k I was just waiting for someone to shut it down because I was ecstatic over achieving the added interest. Neutral lololl.

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Maeve
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 PostPosted: Mon Jan 06, 2014 7:32 pm Reply with quote        
Yeah, I can see how this could turn into a problem, considering there's already too much silver laying around. I don't even know how much silver my mule got without doing anything... Duh

I sorta agree with Jandi though, one site I used to check had that feature where you needed to go to the bank and click some button every day to get your daily interests. Although it doesn't change the problem with interests bringing in too much money, it gives a reason for people to come back every day, which is good?

I guess the main thing I see is that the bank is sorta useless as it is (unless I missed something). I mean, a bank is cool if it keeps your money safe, but there's no threat to your pocket on Mido, so no reason to put money in the vault in the first place. Obviously if we had, let's say, thieving monsters, or if you lost the money you had on you when you died in combat or something, then putting your cash in the bank would make sense. But then I guess there would be fees related to putting money in the vault or taking it out, 'cause that's what banks do. Duh
(Also, a real-life bank gives you interests on your money to attract you to give them money so they can in turn make more money with it. Since Mido's system doesn't work that way, there's no real reason why the vault should even have an interest rate, I guess. Although I can see why it is nice for users who have less silver and want more...)

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Juneberry



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 PostPosted: Mon Jan 06, 2014 9:33 pm Reply with quote        
I think the idea of a button where you have to wait at least 24 hours and will only give you that day's interest if you do press it is a good idea. But either way the vault still has definite use. For those of us who are tending towards spending sprees and trying to save for things, it's easier to save money by keeping it out of your immediate view.

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korrinn torrinkos



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 PostPosted: Mon Jan 06, 2014 10:46 pm Reply with quote        
Juneberry wrote:
I think the idea of a button where you have to wait at least 24 hours and will only give you that day's interest if you do press it is a good idea. But either way the vault still has definite use. For those of us who are tending towards spending sprees and trying to save for things, it's easier to save money by keeping it out of your immediate view.


Yes, precisely. I think an automatic weekly interest of 1% is a good idea, with a cut-off mark of about 5000 silver. Meaning you could earn interest on amounts up to 4999 (so, 49s/week)

Its not a huge amount, and this is the setup another site i frequent is using for theirs. The items there arent incredibly expensive, either.
Saygen40



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 PostPosted: Mon Jan 06, 2014 10:46 pm Reply with quote        
Personally, I'm fine with the interest rate feature being disabled. I have about 40,000 saved, and nothing to really spend it on. Occasionally I change my avatar, but the change costs 10k max. Even marketplace items - including rares - aren't more than 10k.

Installing a button when people log in would certainly encourage them to log into the site each day, but likely not stay long. Earning their money through posting in the forums and engaging in the battle system will keep them around far longer and hopefully give them a reason to participate more with the community. It also doesn't take long to level in the battle system, so money in vast quantities can be earned quickly if desired.

All the recent auction activity plays more to people who log on frequently and are aware of the auctions and are winnable by poor, even newbie users. Silver on the site - at least high amounts - really isn't all that necessary.

Chu held an auction based on purchasing raffle tickets recently. This did give users advantages if they had a lot of silver stored up, but the auction was held likely because of the early identification that silver sinks are starting to become necessary. This auction was necessary to start draining some silver, but hopefully something we won't have to resort to too much in the future.

Anyways, there's my two cents.

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korrinn torrinkos



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 PostPosted: Mon Jan 06, 2014 10:50 pm Reply with quote        
Saygen: I'm a relatively 'new' user here, and I am not fond of the battle system- it costs more to revive/heal, than you make at lower levels. Plus the weapons are kinda crap. So, in a community that seems more based around the battle system than the forums, I am having a hard time earning enough currency for anything.
Saygen40



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 PostPosted: Mon Jan 06, 2014 10:53 pm Reply with quote        
You should check out the Battlegrounds section of the forums! Happy There's some really great advice in there that people have shared, including tips and tricks that are great for lower level users - one being to use Healing Apples rather than healing yourself in the temple because it is significantly more cost effective and won't leave you in debt.

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Peril



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 PostPosted: Mon Jan 06, 2014 11:11 pm Reply with quote        
korrinn torrinkos wrote:
Saygen: I'm a relatively 'new' user here, and I am not fond of the battle system- it costs more to revive/heal, than you make at lower levels. Plus the weapons are kinda crap. So, in a community that seems more based around the battle system than the forums, I am having a hard time earning enough currency for anything.


It isn't very cost-effective at low levels, but I promise it gets better! You can use better weapons at higher levels, your stats all increase, and you can kill stronger monsters to earn more silver per kill. Give it another chance? Smile

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