Rage quit as defined shouldn’t happen, I think a solution that everyone would be okay with would be buybacks of wMemo below and up to backing. As buying below backing increases every holder’s wMemo / treasury ratio, which as a result of the treasury buying back wMemo at a lower price than backing and burning it, every holder owns a larger portion of the treasury. So rage quitters would be able to sell at a price close to or at backing, and it would also positively affect wMemo holders’ proportional ownership of the treasury.
Also just to point out, there would be no downside to the individual investor in this scenario. Lets say no buybacks happened and no rage quits occurred. The treasury / wMemo ratio completely determines the amount of earnings that each individual investor gets from treasury’s earnings, relative to their quantity of wMemo. If buybacks BELOW and up to backing do occur, let’s say with wMemo at ~$20k, the treasury would be buying back wMemo for about half of the backing price. So the extra $20k or so between the value of the wMemo that is bought back, and the backing value of wMemo, would effectively be split between the rest of wMemo holders. This essentially increases their percentage owning of the treasury, making their percentage of the treasury’s earnings increase.
One of the common arguments against buybacks that I’ve seen is that people can frontrun them to game the system. My counterargument to this, is that even if buybacks below backing are front run, the treasury is still buying wMemo back at a value below backing, thus still increasing the individual investors percentage of the treasury. If buybacks ABOVE backing were to happen and be front run, that would be horrible, as it would result in the treasury losing money. However, at any price below backing the treasury is still effectively saving some money, so it is still a much more favorable choice than simply handing out the backing value of wMemo straight out of treasury pockets.
tldr: alternative rage quit option, instead of liquidating treasury, treasury buys back UP to backing price to allow people that are “trapped” to sell, and would also increase the individual investors’ percentage of the treasury’s earnings (resulting in a higher % of earnings for the individual investor than without buybacks below and up to backing)
Way to lazy to read: if it’s a good price for anyone to buy in, it’s a good price for the treasury to buy in too
Final note: if you agree/don’t, pls share to other frogs. the more opinions the better, dao ftw