look, leverage is a sword which cuts both ways.
when it goes your way, you keep the profits and don’t share it with the treasury or community.
when it goes against you, you want many frogs to pay for the mistakes of the few greedy or uninformed ones.
you cant socialize the losses and privatize the profits (which is exactly what wall street does - but since our motto was “fuck the suits” this is a moot point).
you played with fire and you got burnt. simple as that.
your greedy asses should maybe, just maybe, not degen anymore?
82k% apy not good enough?
you want more?
go f yourselves
you didn’t read up on the liquidation mechanisms, backing or whatever related to this protocol and just assumed everything is gonna be fine?
dyor next time…
and employ elementary thinking skills - there’s no free (i.e. risk-free) lunch
greed is the epitome of what is wrong with the world today so no, i will not vote to support irresponsible, greedy behavior which can endanger the entire project
i do feel bad for you all who lost money, but this is how we grow - by learning from mistakes.
we all lost money on this crypto journey and we call it “market tuition”.
pay yours, grow up and do better next time
good luck to fallen frogs and may God provide peace to accept the consequences for your irresponsible actions
To repay leveraged users would just destroy the community, better compensation for all the holders left, stop the trading on exchanges and lets close this circle and start making money. What is the reason for people to borrow in a bear market and leveraged, hell no don’t use a dollar for these people(greedy people)
People that leverage, including Dani and Sifu, already affected who doesn’t leverage twice in few weeks. If anything who doesn’t leverage should get something.
Definetely don’t repay with our funds.
If we oppose the support of the liquidated, then we oppose the maintenance of wMEMO price by the treasury. Because one is related to the other. If we promise to buy wMEMO at the price of support, then we give a guarantee to people, and they have every right to use this guarantee.
if we vote for support, then we agree with the guarantees, and we give the frogs what we promised. It shouldn’t be controversial, it was meant to be.
Leverage instrument is a popular financial instrument, we cannot refuse it just because bad (temporary) times have happened.
You forget about the main mission that unites us. Unconditional support for everyone in the community. Money is only a means to achieve independence, but it should not be a subject of dispute. The strength and cohesion of our community should be higher than this.
Think about how quickly word will spread that our DAO has reimbursed all the liquidated frogs. You all wanted marketing. Here it is. Stop seeing it as a loss, see it as an opportunity.
P.S. Initially, I was also against it, because I thought “they themselves took this risk”, but after seeing the whole picture, I changed my mind. I hope I can also influence someone.
I am sure that the benefits for our community will be much higher than the money spent.
Nope, as explained multiple times by Sifu buybacks do not harm anyone, do not decrease the treasury because the WMEMO acquired is burned.
While buyback and airdrop to some people is dilutive and will affect treasury and price
The argument against payback is that it will be dilutive, and unfair to the people who actually took the time and effort to not get liquidated.
But, what if we could bailout the people with tokens locked for a year.
That way, they won’t be able to sell so it wouldn’t really matter to us if the wMemo is with the treasury or the people.
And frankly a year from now, this will only have resulted in trust for the project instead of dilution.
What is their to compensate if you didn’t sell you didn’t lose anything when the price goes back you will have your money with liquidations the money is completely gone you don’t make sense
the price go back and those wo receive funds will sell immediately or leverage again…so we get price pressure or the situation will happen again and again.
Sends completely wrong signals.
If the leverage morons will get repaied, these tokens should be frozen for at least 6 months and cannot be used for leveraging again !!!
Alright boys, Sifu just posted in discord that treasury funds WILL NOT be used for refunding liquidations. Dani and Sifu will instead use their personal assets.
So, since I was responsible and paid back my Abra loan about $20 before liquidation I am now penalized instead of just getting liquidated and being reimbursed? Would have been nice to know to save 2/3 of my remaining position and not be down 90% overall since I bought in November.
Also, this is not a ‘black swan’ event. This same scenario has played out 3 times now…
I’ve been using wmemo as a collateral to buy more wmemo. Am I wrong to do this because I believe in the system? I’ve seen many people who did this too. On top of that Sifu said that the backing price will be 40k but didn’t happen. I got liquidated because I took Sifu’s words too literally and shouldn’t it be fair to ask for some justifications to this?
The problem remains the same as I mentioned before:
the price go back because of buybacks and those wo receive funds will sell immediately or leverage again…so we get price pressure or the situation will happen again and again.
Sends completely wrong signals.
If the leverage morons will get repaied, these tokens should be frozen for at least 6 months and cannot be used for leveraging again !!!
From what i know they dont plan to use treasury funds, and they are fixing the mistake they missed, its their call to do this and i think its for the best since it will show good faith and we wont lose many people in our project that would never come back otherwise.
So this vote is pointless. Just remove it and stop causing FUD.
Sifu clearly said it is a one time thing. This doesn’t impact you. Those who got liquidated are still down on the price same as you are. It’s not like they’re getting their initial investment back.
Lack of sympathy for newbies does not build a strong community. I suggest bailout for frogs caped to 1 MEMO, no strings attached. Investors losing > 1 MEMO in liquidations are indeed speculators exploring the commitment of Wonderland to buyback at RFV.
If an error happens on the code and wipes part of your hodlings, please don’t ask dani or sifu for a refund, don’t even blame them, you took the risk the same way those who leveraged on the promise of a backed price.
