yes that is true but BuyBacks are designed to prevent a cascading effect like a massive drop from ~44,000 to ~22,000 in less than 2 hour.
dude. it would be impossible to have funds to buy up all wMEMO being sold at backing price. it’s not a thing. it can HELP, it can STALL a selloff for a minute, but it’s not a stable price. it’s the value of wMEMO based on it’s Treasury value. wMEMO is bought/sold at whatever the MARKET dictates. PERIOD.
Yes it has almost a BILLION freaking dollars
Hell to the no.
They kept their positions open after the first cascade on Jan 17. I closed mine because I was being responsible.
How is it fair on me for being responsible? Are we purposely trying to encourage riskier behavior?
Ridiculous. My vote is a no and I will vote no on the snapshot.
If Dani/Sifu wants to cover them … that’s fine. Bless their hearts. But not with treasury money.
Hell to the no.
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well see i could not loose mine cause of network congestions, my AVAX transaction where in stale mode for over 2 hours.
I lost 12k.
yes it is part, and thats where they will use the funds from
what’s the marketcap? $824.33m?
what’s the treasury at $822.97m?
so the treasury, a) doesn’t have enough b) $822m of that is not in a stablecoin c) would NEVER be enough to buy at $48,552 per wMEMO to keep the price there
Deleted. Posted on wrong thread.
Many responsible people paid off their loans prior to liquidation, at personal expense. Any payback that forgets these people would be morally wrong.
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The Mad Hatter says to tax the whales and 5% buy in fee. 5% buy in. 15% sells tax. 5% to holders, 10% to treasury, and 5% to weekly auto buybacks.
This sets a VERY dangerous precedent you paying people back. I bought in at $8,500 per TIME token and bought 20k worth of tokens. I am more bullish on the project now than I was when I bought in BUT am confused because it seems like I, as a long time holder, am being punished more than people that play it risky and loose their money? To ensure trust in the project why don’t you give tokens to the people who are propping up the project and have been for months now? Don’t pay off the people that are destroying the project and reward the long term stakers. Right?
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i think we, ppl who held during this crash, should ALL be compensated. or no one. we all are hurting. some have lost a HUGE percentage they put in without leveraging.
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People who leverage and got liquidated in a bear sentiment market deserved it
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yeah let’s also buy them a boat and a house.If you want to repay someone repay minus the MIMs they would need to repay at the current price you have the data.Liquidated guys are not the same with spot traders.
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I second this, no way we long term holders and people who deleverage still bleeding and some people who play with fire get reimbursed. This doesn’t help the DAO and the project no matter it’s paid by the treasury or the Sifu and Dani’s pockets.
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Great sir.
I’m all for not refunding any liquidations.
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My response to this is the same as it was last time. No. The people who were risk averse and didn’t leverage shouldn’t take a hit because other people did and got liquidated.
The only thing that gives the argument any credence at all is that Sifu mentioned limit orders preventing a large drop below the backing price. And if thats what the argument is based on, the teams personal funds should be used to refund people that got liquidated, not the treasury funds. Its their mistake, and if they want to fix it, they can use their funds as far as I’m concerned.
In saying that, I feel like the ‘Do not repay’ and ‘repay individuals out of sifu/dani’s pocket’ options should have been combined, as that is what Sifu plans to do if this is voted down.
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I’m furious just thinking about this. This is completely unfair that we would use treasury funds to reward someone’s risky behavior.
I want us to focus on growing the treasury. No more automated buy backs. No more bail out nonsense.
I’m voting with a huge f-ing NO and I will dedicate every spare moment I have on pushing this on every platform until we go to WIP snapshot.
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This is about trust and community. Repaying will hurt in short run, but be beneficial and build trust in long run. do it!
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There’s no way I agree with paying greedy people from the hodlers pockets!!! IF this will come through, I’m selling everything and fk this!
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