The proposal is that Daniele see that it’s a 50/50 between voters who wants out and who wants to stay. My proposal is to allow those who want out at backing price, and all the wMEMO that is received to those who choose to exit… we’ll burn those tokens. Creating a roughly 50% supply reduction. Only then I believe we can start to discuss the proposal to migrate. This proposal will need some adjusting and it’ll be the best solution we might have imo.
Tomasj94 adjustment:
Snap shot of wallets to those who entered time at an earlier date before the crash. Anyone who entered after will not receive backing price. Only those who entered before can receive full backing price. Only wallets that were bought at earlier date can ask for the full backing price. This will not allow back actors to play the system.
Froglok adjustment:
Instead of backing price, allow those who want out to redeem a fixed MIM value per $TIME equal to $TIME risk-free value (RFV = WL reserve / supply of $TIME owned by users). To those who want to continue with the project, they can simply continue to hold their tokens.
Migrate where? I firmly believe those that want out can go but deciding to stay needs further clarification. Is it stay anywhere Dani chooses to lead or will some plan be stated to determine if its a fit for those staying?
I understand everything but We should pay the entrance price to those who want to leave, at a maximum of the backing price, in this way we give the exit to those who want to leave without the whales taking everyone’s money and we also take care of an over sale
We cannot pay the backing prince to those who entered right on the way down because that would do a lot of damage to the treasury, but they can be paid what they invested that day, they do not lose, they would only win what the rebases have given them these days, but at the price of entry
That’s up for Dani to decide. The proposal is to create a solution for both side of the parties to those who want out and those who wants to stay. Given the circumstances, I think this might be the solution to appease both side of the party. If choosing to stay meant Dani is no longer leading Wonderland, that’s an individual assessment on what they want to do with their own investment.
Migration was mention on Discord by Daniele. I assume the next proposal relates to migration as a solution. Me and you both are in the dark about this, but I’m sure the announcement and details about it will come out soon.
I am in favor of Wonderland continuing and Dani staying on as CSO.
An idea for those that want to opt out of the project, we could do something similar to what Snowbank did; after the SnowDog fiasco they had a redistribution event where holders who didn’t want to continue with the project could redeem a fixed MIM value per $SB equal to $SB risk-free value (risk-free value = treasury owned reserves divided by supply of $SB owned by users) or alternatively if they wanted to continue with the project they could just continue holding their $SB tokens. [Source of explanation: Snowbank Docs]