[DAO Discussion] - Price control measures
- Put in place a token buyback and burn system that is funded by taxes on token holders who decide to sell a significant portion of their holding such that price will be significantly affected by such move
- Increase APY to all token holders after there is a significant sell off to be funded by taxed on entry and exit of positions held in the time token
- Make No Changes
Name: [RFC] - PRICE CONTROL MEASURES
Scope: Suggestion of ways to prevent significant Token Price Drops that occur as a result of significant selloffs and “Whale Activities”
Link to previous [DAO Discussion]: “[DAO Discussion] - Your Title Here”
Objective: Summarise the main goal of the proposal. For Example: “To ensure stability of the Token Price there by improve confidence in the management of the DAO”.
Provide a High Level Overview: The creation of DAOs is a significant move towards decentralized regulation of Cryptocurrencies. In the past it used to be that “whales” own the market and control price action but with the DAO we can make price action work for everyone through our vote for measures that prevent pump and dump operations by those who have the means.
Provide Low Level Details: Having a healthy treasury is great however if token price is not held stable then the value to the token holder might be lost over time. If the action of a single individual could upend the market cap of a big eco system, this is not good from a PR stand point. To this end I am proposing that “We the people” take control of the Eco system by putting up for a vote fair price control measures that will ensure people that get in the system stay in and if they choose to sell then those that will be left holding on to the token are not holding on to a worthless or significantly devalued token. Let us all agree on a fiscally responsible system that keeps supply and demand for our token at equilibrium of higher on the demand and reduce supply. One way to do this is through token buybacks and burns financed by entry and exit taxes. The team is doing a great Job with the treasury but we need to fix this whale dump issue and that is what this proposal is about.
Business and/or technical requirements of the implementation of the proposal:
*We need to crunch the numbers on circulating supply level and demand to keep price stable.
*based on the above, come up with a percentage fee for entry and exit of the wonderland token.
*Fees should be collected in a separate but verifiable smart contract.
*fees collected should for buybacks and burns once circulating supply hits predetermined levels to keep price stable.
This thread has been submitted as an RFC without previously being discussed on the forum. Therefore it has been moved to the General Discussion section.
There is already a bunch of posts talking about similar ideas.
There is no consensus on this and the team has also address this multiple time.
@dolow we already have a buy back measure in place: at the buy back price. prematurely buying TIME tokens back and burning them at a price higher than the buy back ensures we’ll be cutting off the project’s emergency rations for like a quick snack before a meal. if we bought back now, at 2500 or 2400 we’d be halfing the amount of time we could buy if god forbid the price keeps dropping to 1300. Its literally a shot in the foot.
also taxing people to jump in or out just discourages investors from the project. especially low capital investors with say $200. I mean that basically adding gas fees to every move you make with wonderland. Not very attractive to new buyers: hey join us but like we gotta tax you on the way in and the way out and maybe a few other ways you dont know about. that sounds like a scam project. the whole idea of launching on avax was to limit gas fees otherwise why not just do it on eth and have every transaction cost $40
leave the system alone and let it do its thing. we cant spend our emergency buy back money at 2x the buy back price without fucking ourselves over in case of a REAL emergency (like price being 1300) we cant add a ton of fees without scaring away everyone (eth vibes). lets talk about changing the project protocols when its failed us. not when were a little scared of drops that are cause by say BTC dropping from 69k to 40k and staying there. if we buy back now were WASTING HELLA MONEY. money we need now to increase intrinsic value (betswap, nft design, game develpment wonderland 2,0 development avax liquid staking development, wmemo-mim liquidity ) and money that we might desperately need later. DIAMOND HAND STAY DIAMOND WHEN THINGS GET HARD they dont call for early buy backs. thats paper hand vibes
@dolow trust me when btc raises in like 15 days from this 40k line everything else will come back up. when bitcoin is down this low (30-35%) everything is down across the board. avax is 85$ right now. Time will bounce back up very hard in a couple weeks with the rest of the market. if the treasury buys back now, whales will sell keeping the price at 2400 congrats we gave the treasury all to the whales, drain it down to 200mil and when we pull out , the project will have to eat its own LPs to get us out. JUST CHILL YOUR SACK and buy some more TIME yourself at this super low because it will jump up hard in the coming month. we have Betswap.gg that just launched, we got multi chain action being released and we’re voting on liquid staking (which BTW is a brilliant idea and a freakin MONEY PRINTER) all this month. the announcements are just now rolling in so keep your eyes peeled. but ya any TIME the treasury buys back at double the buy back price will literally all go to the whales. Any extra fees we add will scare away new people to the project. so please lets NOT DO THIS