Its absolutely fair that peops who were promised a backing price may leave at that price.
But also I would absolutely refuse to let anyone who bought the last week take advantage of the projects current situation. So still think they can leave at market price.
8 Likes
Agree with this proposal both in terms of the benefit to Wonderland and to its participants. The confidence the market will get when they understand that the treasury is linked to the value of wMEMO will also be a great springboard to ride into revenue sharing. For those who donāt sell, they would likely see their tokens be more valuable and the protocol more stable, while those who sell will get to exit can regret it later.
I also think having a ragequit penalty of 10% is fine, as Pabgar suggested. Itās a good way to create some extra value for those who stay.
Iāve also done up a valuation per wMEMO here and Iāll link a google docs containing more info below. I use the method you outline, which is to discount the DAO and LP wMEMO tokens from the calculation. I also include the tokens held by the DAO in the anyswap smart contract. I also include bridged tokens belonging to non-DAO wallets since those are tokens added to the anyswap liquidity by non-DAO users.
THE BACKING PER wMEMO per the DCFGod method is approximately $35000 per token as of 3 Feb. This will of course change as market prices change. I have very detailed notes on my calculation in the google docs link that follows.
4 Likes
Yes I support this one,
-
if we will use a snapshot from the 26th January or before to see who is eligeble or not.
-
For the one who leave, will be removed from BSGG snapshot.
-
The exit window should be longer. Some holders donāt even know what happened yet. So maby 5 days.
-
after this I believe we can work on the voting power / rewards system. So Noone is able jump in and out and only take profit, no loose, in the future.
-
and then we will be moving as a train.
1 Like
i disagree with the rage quit penalty. mainly because we want the people who want out to get out they dont belong with the long term investors here. rage quit benefits long term holders because our share in the revenue pool will increase from burning tokens from rage quit. we will be rewarded with bigger % of profit sharing from less people being in the pool. and since we are flushing out a ginormous amount of the fixed supply. it will take much less money to get wmemo to happier prices sooner.
4 Likes
the snapshot has to be taken when the vote is put up. Itās unfair to advertise a backing price and not honor it.
2 Likes
Agree with this as a first step prior the ānew modelā, we need to remove toxic people from this.
2 Likes
I agree with this, what the point of having people that are already gone but still waiting to cash out vote on the future of this project.
Letās clean the holder base, and then weāll talk.
1 Like
we could do a snapshot of everyone whos been holding before unwinding vote news and then once everyone thats out is out, we can offer inverse bonds at a less discount of current price to backing and use that to burn the supply till we flush out anybody else who is keeping us from getting to backing price. we would have to put a cap on this to control how fast these go out. but only while we are under backing. this would be more effective than buybacks. this supply burn would ultimately give long term frogs a bigger share in wmemo pool which would be good for lifting wmemo price and recieving a bigger chunk of revenue share per frog later on.
2 Likes
Yes pls. The key is the snapshot of those before the unwinding news. Arb traders and scalpers shouldnāt win here.
3 Likes
surely people who have taken a risk of buying wmemo here should be rewarded also? who is selling to them?
Agree with everything without the bsgg airdrop, that has been a promise by the team and a lot of holders held during the crash as they knew that they being rewarded. When airdrops have been announced price of wmemo was around 120k so it would be unfair for a lots holders
1 Like
And why exactly do you think that is the most fair solution? What is the fairness about making a new snapshot and even more can buy in and benefit from this proposal.
The only ones who should not be able to use this proposas is wallet, big or small, who just entered during/after the āSifu-Gateā.
They bought below backing and can sell if they want at same price. Almost. Bechause they keep whaiting the price is not the same anymore. So they donāt have any loses.
The most longer holders than 2 weeks have loses even if they left at backing.
And by the way. No VOTE in the world do have an announcement before the actual eligibility count.
And specially in crypto every other voting is anonymous using a 5-15 days old snapshot. So Noone can take advantage.
I am pretty sure all negativity will go away upon a rage quit, best solution to take this as first step for the continuation of wonderland
1 Like
Agree completelyā¦ out all the judges and prosecutors from the community
What do you mean by this? Snapshot for what?
We should talk about transactions and addresses to check out who is in or out
This is very well written, and looks like the right thing to do!
Letting people that want to exit out will only make the project stronger in the long run, plus this is what Dani promised to do in the first place.
1 Like
future note, save these rage quit tokens bought back at backing price in the dao. we can then sell non dilutive bonds @ 3% discount to raise funds once wmemo hits 70k bc that would be almost 100% profit for wonderland! lets say we had 200 million in rage quitting. lets sell tokens back to the market later at 3% discount and instead of having 200 million burned tokens in dao we will have effectively added 400 million in assets to treasury! then if it goes below backing price offer inverse bonds to buy back more wmemo tokens at a good price and then bond them again for good profit on 3% discount. this way every time it goes below backing price wonderland uses it as an opportunity to increase the amount of treasury assets it has while maintaining backing price for investors.
i think selling back half for treasury profits and burning half for good would be a good hybrid approach every time this goes below backing. use this as an opportunity to improve our system/tokenomics.
right now we just need to do a more extreme form of buy backs to get back on our feet. hang in there frogs!
2 Likes
I agree with this rage quit to be the first thing to happen! The market will immediately balance the price of wmemo to the backing price (after maybe 3 arbitrages)
1 Like
I support this proposal
1 Like
100% agree. Just one addition is that we snapshot who gets the ragequit option. Any of the whales/scalpers who bought in late should NOT be entitled to this.
1 Like