I wanted to get in on the crazy high APR of TIME but i couldn’t find a way to swap my AVAX to TIME so I opted to wMEMO instead (and also because wonderland says that the wMEMO is the future for them). Now I’m confused as to what I should do with the wMEMO I have. It seems that the APR for wMEMO staking is only about 30%.
Am I missing something? Is my wMEMO already staked for that 79k% APR? If not, how could I convert my wMEMO to TIME back and forth?
if these are newbie questions, I’m really sorry. Just need some answers into what I bought into.
First you have to understand the difference between APY and APR
MEMO inside wMEMO gets the 79k% APY which basically is a stock split, it doesn’t add any value to your wMEMO or memo, it just increases the amount of memo inside your wMEMO thus rebase = 0 value
You can read more about rebase here https://www.reddit.com/r/WonderlandOfficial/comments/u9o4rb/rebase_faq/
The 30% APR is for farming BSGG token with your wMEMO which you can find here Wonderland
Time/memo has no utility so holding wMEMO is your best option.
If my rebase money always stays the same, is the gain only from BSGG’s revenue sharing?
Pretty much. Revenue sharing (whatever the tokens being distributed) is the only gains if price of wMEMO is stable.