Moving Forward from a deprecated system

[bottlecapman]

Looking forward, we must develop a transitionary blueprint for wonderland. With the current rebase vote underway, it has been proven that the dao is ultimately split down the middle. In order to appease all involved I suggest we clearly define our intentions as to creating new structure for the foundation being built upon.

The rebase system is not causing the protocol burden. The clarity of it’s purpose is what hurts Wonderland. The nature of the environment needs to be addressed in order to prevent further division or miscommunication.

First, Time is illiquid across most exchanges. This has nothing to do with deprecation or encouraging such. Because of it’s illiquid market and duel token dynamics $Time remains a valuable aspect of the protocols functionality and will remain as such. Once rebases stop, the index will serve a different purpose. It will stop increasing on a regular basis and serve as a novel way to measure growth.

The protocol remains in tact even after considering past declarations of deprecation. There is no reason to encourage it’s abandonment. Especially considering it’s abandonment would imply some other preferable nest to flock to. So then where is the line drawn with this transition? We can only plan ahead so far without meaningful tokenenomics.

As I wish to be involved in the future success of Wonderland, I need to know what the mutual understanding of the situation is. And by no means should the success of the future token be promoted by encouraging the destruction of another. This is a miscalculation, both can co-exist.

I am happy to adjust myself according to the broader mind of the dao’s wishes. But it is hard to try to develop and design token frameworks without some underlying premise.

In my opinion the rebase system can easily be expanded upon, and because of that fact alone we should expand upon it. After all we are all participating in an experimental, revolutionary, unregulated financial sector built upon it’s own intricately layered design… it would be a shame to allow risk, ignorance, or fear to prevent our otherwise exploratory nature.

I also believe rev share can be expanded upon, not exclusive to any other variable. A rev share design can easily be funded and built in it’s own right.

I also believe and am most passionate about the idea that both a rebase system and a rev share system can work interdependently with one another in order to bring the most benefit to both holders and Wonderland.

Either way, the vote is 50/50 right now for this reason I believe.

[EpistemiCrisis]

You need to understand this about rebases: When you cut a pizza into more slices, you don’t end up with more pizza. Rebasing does not create more wealth for anyone, it just turns the tokenomics into a game of chicken with the first investors to blink getting the majority of any perceived profit from the rebases.

If you want a tokenomics model, use your protocol owned liquidity and generate profits for Wonderland. Profits are used to perform token buybacks that replenish the staking APR.

Rebasing has practically proven to be a failure and when you stop to think about it, it’s not hard to see why. Don’t let sunk costs convince you to go in even harder on a failed, incorrect idea.

Best wishes,

[Urubin]

Pizza’ slices do not compound, rebases do. Also rebases became a failure when minting was stopped. Before that it worked nicely. And now the vote was cast and they will be stopped. Tell me what is my incentive to hold on to my wMemo? Surely it is not the farming of BSGG tokens who’s worth was tanked by the redemption we had? So what is left? Surely not the worth of wMemo which has not been doing much but slowly decrease instead of increase.

With nothing in place to replace the rebases Wonderland is dead.

[EpistemiCrisis]

My friend, rebasing is not magic. You can’t create wealth out of nothing. The people who made the idea didn’t really understand how this new monetary concept would work out. The amount of liquidity in the liquidity pools is the maximum amount of money you can pull out of the system. After that, the worthless token will keep making more worthless tokens, because there’s no assets matching them anymore. THERE’S NO FREE LUNCH. It’s a perpetual motion machine. It’s not real.

You are a man who got shot. You’re lying in the hospital right now, and you’re asking to get shot again because getting shot is better than nothing. It’s not. You can take your lumps and move on. That being said, the protocol has money and it could use that money to go out and make money that they use to pay token holders. Do you know why you lose money? Because if as protocol doesn’t have a business plan, you’re the business plan. They made the money off of you. Us.

[Urubin]

You are half right. We had a treasury arround 800k and that was supposed to be invested and make the profit. Then the fud happened and after that we got stupid. We killed the rebases by stopping minting and do a redemption(Rage Quit) but that was not enough; we went from stupid to insane by doing that redemption insanity quarterly. And now to finish it off insanity has become sheer madness by stopping the rebases BEFORE an alternative for making a profit is in place(I don’t think there is even a concrete plan for it.). And that is why WL is dead. Not because they stopped the rebases but how they do it without anything in place. In the mean time what is left of the treasury is bleeding funds every three monts and no investing is being done.