It has been brought to my attention that with the liquidity being moved from Time towards Wmemo, the idea of “rebasing” or our memo/time/cookie crumbles increasing every rebase is no longer relevant. It is no longer relevant as we can no longer sell our cookie crumbs, we are now to sell our bags of cookie crumbs. These bags are subjected to market value, and regardless of what the protocol deems our wmemo to be worth, the market will determine it’s true value. If our rebasing system is no longer relevant, then the attractive APY on our dashboard is simply a farce that will disappoint and mislead uneducated investors.
Because of this change, unless another system is put into place, I feel it is imperative that we fast-track a revenue share system. The treasury was built off of our investors, and if we are going to take away the liquidity of the cookie crumbles that our investors were expecting, then we need to supplement those rewards with the revenue that our investments are garnering. I feel this is the only way we are going to fulfill what our initial investors deserve, and also draw in new investors - with a substantial, tangible reward system built off a treasury we should still have to contribute towards.
Also, i suggest we do away with the APY and stop calling ourselves a rebase DAO. This is no longer true and we should give out the true message of who we are and what we stand for. The whole project purpose and DOCs should be updated accordingly so no one is misguided.
If we are afraid of causing FUD, then make a slow and steady transition …say a few months. IN the meanwhile keep the people posted, reduce the APY to reasonable levels that can be sustained by the treasury , make necessary transitions to UI, etc. and let people know weekly about what is coming so there is no unwanted panic selling
That is awesome! Then all I request is updates and a solid timeframe on when this is going to transpire - if this isn’t happening in the coming 8-12 weeks, then my proposal stands to fast track some form of revenue share reward system to solidify a tangible return for our investors - even just a small transitionary model to try as the protocol transforms.
If there are no staking (at the high APY’s) are we talking about shutting down the MINT’s as well?
If minting is stopped, then growth of treasury is limited to the growth of investment - distributed profits? Are we there yet? can the frogs live off the returns generated by the treasury of DAO?
Personally I am looking to mint and stake for a much longer time till the size of treasury is a big number that can actually make a difference.
What’s a VC fund with 1 billion dollars? not much IMHO…I vote against this…let the journey continue…MINT…STAKE…REBASE…GROW
By transitioning, we are kind of putting an end to fund raising…are we there yet…It’s toooooo early IMHO…Need to grow the funds much much bigger than this…need to get the number of active wallets at least 10 time more than what it is now…10x of the current treasury s when we can start thinking of a revenue share…till then GROW…get early investment in many many startup projects…get the alpha that’s added to the treasury (as well as airdrops) of instant gratification…If we stop now, it will be the sad end of a great journey that we never undertook.
Sorry my friend. You cannot have the cake and eat it as well. An organization can opt to grow fast or go slow based on the needs and wishes of their constituents.
The way wonderland treasury was growing fast is by the amazing MINT’s…these are dilutive in nature (ofcourse)…so are the high APY’s …they too spawn a lot of emmisions leading to dilution…
BUT, the moot point is that we need to grow…and to grow the treasury need to grow at a faster rate (say 10-25% per month)…
My suggestion would be…Keep staking APY at less than 0.6% per rebase (that’s prevent rebase sniping)…Keep the MINT ROI at around 5% giving the minters enough incentive to MINT…
The wonderful team of Wonderland is definitely looking out for more and more good start-ups that would give value to the frogs as well as to the start-up…and this requires a miuch larger community…definitely need a couple of million frogs croaking…
Couldn’t the beginnings of revenue sharing, albeit small at this time, be an excellent draw for new investors? With the ending of minting, does our treasury have other avenues to allow it to grow at the rate that it was?
Since wmemeo can be unwrapped it will always have an accurate value with rebases included. Because anytime it strays to far it will create an arbitrage opportunity.
I dont see the problem here, and i rather wait a few weeks as sifu said, for the revenue share model then rush it and get something slapped together.
