Proposal for Redistribution (Liquidation) of Treasury back to existing holders

Instead of letting Dani/Sifu take the treasury to Abra and treat us holders as one big capital raise for their other pet projects, I propose liquidating the treasury and redistributing to TIME/wMemo holders and ending Wonderland.

Another DAO I was in had this vote and it was completed successfully. We take the Risk Free Value of Treasury and calculate the amount that holders would receive in a stable coin (MIM, DAI, whatever). Then an exchange (swap) is set up on the website and a exchange our time/wMemo at a fixed price per unit for stable coin at a fixed price per unit.

Of course we won’t be made whole, but it is better than watching price continuously crash or be merged into Abra.

This project has changed direction many times

Started as an OHM Fork, then became a wanna be VC, then now it’s merging into Abra? Every week a different idea.

If there is going to be a merger vote then it is ONLY FAIR to the community to have a liquidation/redistribution vote.

  • Yes
  • No

0 voters

Yes, BUT It can’t be fixed price on wmemo! It must be reward vs Time staking or vs price. We will feed VC bots witch are replenishing treasury with buybacks. It’s seem simply unfair!

I am open to a modified model.

I was simply stating one way to do this, that has actually happened in the Defi DAO OHM fork world and was implemented quickly and efficiently. So we know it’s possible.

TIME might be a bit harder due to multi-chain and multi token (TIME & wMemo).

TheSith - Yes, I agreed with you.

Like in HEC too, they have latest vote with 200%-500% APY (from 10,000%)… and they are having AMA like every week to improve the communication & project progress. So I think this is can be done by Wonderland…

Maybe we can improve the overall wMEMO structure like (1) disable buyback, (2) reduce APY, (3) apply lockup for 3-6 months, (4) selling tax and distribute to all holders as rewards.

But, i’m not sure about the dev team because they seem not heading to this direction. (my feeling after AMA)

1 Like

Is there APY on WMEMO? IMHO no.

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