Objective: Present a new use case for Wonderland and its treasury.
Problem: Wmemo holders will be liquidated into SPELL or languish until the treasury is gamed to 0.
Solution Proposal: Turn Wonderland into a Defi as a service provider.
When I say DaaS, the current project that best resembles what I will describe is THOR.
As we have seen over the past couple of months OHM forks have been the inferior structured projects to NODE structured projects. I think this is because of the reward structure. The reward structure of most successful NODE project forces or greatly incentivizes hodling and slowly taking profits over time.
The downsides to NODE structured projects: I do not believe I know all of the downsides to this structure but the glaring downsides include “ponzinomics”, constantly building “reward debt” through compounding, the cost of NODEs increases out of the reach of small frogs, etc. I would like more opinions and feedback on this section.
Solutions for the downsides of switching to a NODE structure: The main problem with DaaS is sustainability. How can we combat this? We have an already large treasury, SIFU, connections across the defi world, large community, etc. We can leverage all of these to do what we are already doing, continue building the treasury as is in the way that we are going about it now(VC). This will be our strategic advantage against other DaaS projects. We have the connections and money to get in on projects such as betswap and other revenue-generating projects that are not already saturated.
Solution details: Emphasis on passive income only.
New Token for creating NODEs, holders of wMemo get discount or early access to the token.
How will the treasury be used and funds distributed? Treasury should be used as SIFU sees fit for investments and rewards pool. 50% of monthly revenue distributed to the rewards pool, 50% of monthly revenue distributed to wMemo stakers.
What will we do with the Wmemo Token? wMemo will not be used as collateral anymore. Staking rewards gives you your share of treasury revenue, not in the form of wMemo but in node token or stable coin. wMemo will be used(staked) to increase your rewards for your NODEs in amount and time(more on this later).
How to solve ‘reward debt’ problem(rewards cant keep up with node creation) of DaaS NODE projects? To make sure that we do not rely too heavly on ponzinomics, nodes should have decay mechanism or retirement date. Such as like what Strong is doing, decreasing rewards over time. Or, have a lifespan for each node(ex. 365 days for each node).
To give wMemo more utility, if you stake wMemo you can increase rewards by a percentage and increase the lifespan by a percentage based on the amount of wMemo you have staked and how much time youve held/staked wMemo(more emphasis on how much time youve held/staked wMemo - so that pple who are not whales but have held for a long time can get similar benefits of someone with a lot of wMemo).
Other notes: Implement a tax structure that functions like the gas cost eth in StrongBlock.
Should have multi tiers of nodes.
Rewards should start out pretty high to incentivize adoption and counteract the current bad reputation of Wonderland and its team and be decreased to a more sustainable amount at a later date if needed.
Lets really make this a great project! Wonderland as is it now has been gamed by the whales and mismanagement of allowing too much leverage in the system. We need to change the direction of the entire project that will benefit us frogs the most and not give our treasury away to another project.
- We should turn Wonderland into a DaaS!
- We should not turn Wonderland into a DaaS