After seeing how Solidly has played out, I don’t think the rebasing mechanics are a good idea. Those who farmed a large $ASTRO position would essentially have permanent control over the protocol, without having to invest any more into the protocol. For example, if I bought up 400 $ASTRO and staked it while there was only 1,000 $ASTRO in supply, I would forever have 40% of the votes in the protocol. This is without me bothering to acquire or buy any more $ASTRO.
As more people stake their $ASTRO, the value of all future $ASTRO will continue to diminish, because all $ASTRO emitted in the future represents a smaller and smaller share of the overall pie. For example, if 80% of current $ASTRO got staked with a rebasing mechanism, then all future $ASTRO emissions would just represent the remaining 20% of the protocol.
In other words, the rebasing mechanism gives early adopter whales a permanent lock on the protocol.