I am against redemptions in general, period. I was against rage quit and I am certainly against this proposal.
When we invest we know we take a risk. Can’t take the heat, stay out of the kitchen.
Don’t invest what you are not prepared to lose always was sound advice and it still is i this case.
I think some people are missing the point here…
Redemption feature will bring the price close to backing and keep it there, at this point in time there is no chance for us to trade at a premium, redemption could change that due to speculation on the investments and how much they will contribute to the backing.
New investors will feel safer investing into WL knowing that their losses are limited to the backing price.
The last point I want to make is that other protocols do this already, wonderland should make it self more competitive.
add Sifu as a redemption option.
I think @skyhopper is rekt too. No fees coming.
And who wants to be a TM when the treasury is meddled by Dani. Let’s call the Professor and see if he wants to take the post. He’s no where to be seen - what a smart move to stay away.
Earlier on thread - Sky has endorsed this redemption. So what’s the deal?
And we can’t just be Abra’s bitch.
We can do the same by buying back tokens from the market and burn them.
With redemption we just reward scammy behavior: people like ghostzero will buy WMEMO on sushi then cry because backing price is higher. With redemption we literally would give away $8k / WMEMO (currently on sushi the price is $28k, backing is $36k) for nothing. These people are not investors they are traders who only wants to make some quick buck.
Do we want to support this scammy behavior or do we want to support the long term HODLers instead?
I’m against Redemption/Ragequit and don’t see any good point about it.
Instead of throwing money out the window shouldn’t we let the team at least try to bring the treasury up to speed again?
When I said in discord I support benefits for long term holders, there were people who said something like “I bought share/stock x and also don’t get money because it’s down” … this is exactly the same … you bought at, for instance, 36K now its 28K deal with it … why should you be paid more ? Doesn’t make any sense.
That the backing is just an imaginary number should be clear since the last RQ so why still talk about it?
Look what happened the last time. RQ got announced, whales pressured the prize down bought a lot of wmemo and then where allowed to RQ and get the imaginary backing prize and drained the treasury. Yes the prize got up to 30k but almost 2/3 of the treasury was gone after it.
I’m sure that if there will be a quarterly redemption we will see more of that stuff happen…but this time who knows if there will be a treasury left ?
Please take time to read my points in the post above.
I use to be a size maxi thinking bigger is better but, it will be easier to manage a smaller treasury with getting yield etc. Now as per your thoughts of the treasury getting drained and people leaving which in my opinion isn’t going to happen in a large number, remaining holders will benefit from the ever hard to find yield that will add to the backing and future redemption.
Something that could be implemented again is bonding again and directly depositing money into the treasury and therefor boosting it.
I do agree with you the silly expectations some investors have, however this proposal isn’t a money grab. The people to choose to redeem will have to buy back at a premium if they chose to redeem since the market price will most certainly remain very closely or above the backing price (See sifu’s vision redemption price/market price history). A small price to pay versus doing constant buy backs and draining the treasury that way.
As to the previous RQ, it was mishandled. The liquidity never got pulled allowing people and whales to continue acquiring at low prices. However, I don’t think 2/3 was gone, we simply stopped including wmemo/memo assets in the calculation.
I disagree that quarterly redemption will continue to drain the treasury, please refer to my previous post to the benefits and the appeal of the quarterly redemption. Yes some people might opt out to use the quarterly redemption, but in my opinion It’s a start of getting us to trade above our backing value aka. 40k+
Sifu and SkyH openly support this idea in discord/forums, along side other smart long term wmemo holders.
I read it.
Ghostzero said he bought way below backing price right after RQ. Now he’s crying about market price being too low and supports redemption. How the hell it’s not draining the treasury???
@NalX I need confirmation the liquidity never got pulled. If I remember correctly it has been pulled.
Buybacks have the same benefits but excluding these “cash grab” plays.
You know what? Turn this around a bit: what if the market price is higher than the backing? Will you sell at market price? No? Why not? If you understand why this scenario is bad for you, do you understand why redemption is bad for WL? (I bet in this case people like ghostzero would cry because they can’t buy tokens from WL at backing price to sell it on sushiswap…)
And again, we talk about “paying dividends from basically a non-functioning company”. This is just f*cking ridiculous. Let’s start make some money first (and when we do, all this price misery will disappear).
WIP said liquidity would be fully pulled. However, this could have had consequences so it was pulled something like 2/3 instead and has remain like that since.
Whale could have bought back, but with low liquidity like right now, slippage would have been an extra fee on them.
If you look at the top holders, we dont have big whales anymore, likely they didnt bought back or just partially.
A redemption option likely may give a chance for price to be above backing, and hence the problem is solved.
Here, it seems that you’re thinking that there is significant profits to be made through buybacks that it adds to the backing of the remaining holders. This is true - however, I think we need to balance these profits (from others exiting) with the ability for users to be able to redeem from time to time.
I think price actions will be positive (maybe thats not good as you see it - which I understand). But, at some point, we’d have to figure a way also to have a method for users to monetize this gains quicker.
If market price is higher than backing, we may be able to even sell wMEMO for higher than backing, another way to increase treasury, and also bring more assets into treasury as well.
As a TM, do you have information about how much profit WL made in May? Or in April?
Hey this guys trying to make money!! Everyone get your pitchforks!
Looks like we need an RFC asap 
For further discussion of this please reference the RFC: [RFC] - Quarterly Redemption Option for Holders - 2. [RFC] Request for Comment - Wonderland Governance Forum (wonderlandforum.xyz)
Topic has been approved for RFC:
https://dao.wonderland.money/t/rfc-quarterly-redemption-option-for-holders/18025/2