My fellow Frogs. I have reflected on how we should move forward, and I think the Answer should be Fuck the VC’s
Seeing as whales most likely will vote to drain the treasury, I think the best option is to offer a response that will make the Frogs Happy.
Here is what i am proposing:
1: We stop using the treasury to back the coin.
2: To return the treasury to the wMemo holders, you will need to Stake wMemo on Wonderland.
3: Every 8 hours the treasury will release 500,000 in funds to those Staking this coin.
From that point forward the funds are still to be utilized to maintain Sushi Swap, the Node, and Betswap.
If the treasury can maintain earning the 1.5 million a day, then we can continue to operate. IF the treasury performs better, then we can vote to raise the fund releasing, or taper it off if needed.
This will drive someone growing the treasury faster than the market is draining it.
I think it’s very short sighted, that if we try to liquidate things all at once, we will only burst the Crypto bubble on the assets in the vault, this is bad for Avalanche & Fantom
For people who do not want to wait the estimated 400 days to be made right, they will be able to Mint “MiM” This will have a penalty of only recieving the wMemo at a percentage of the backing price (I would suggest they mint it at 55% of backing price. This will be paid out over 5 days.
The MiM will have to come from selling some assets out of the treasury, so we will have to limit how much can be minted in a 24 hour window.
When we get to the end of the 400 days, the remaining funds in the treasury can be decided by whoever owns the product then.