I started a vote to see where the community stands. There a lot of options and it is multiple choice so you can pick more than one option! VOTE on the community stance regarding RAGE QUIT option (MULTIPLE CHOICE) - #9 by retirement
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Maby.
I like yor suggestion.
But I absolutely against that sneeky peops who saw an opportunity to earn quick gains, and against all odds failed to do so, should have anything to say here.
Use the snapshot from âSifu Gateâ.
Peops before can leave at backing. Peops after can leave at market.
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How does it benefits the majority who bought above backing? Simple. At this point those people have no option but to continue holding. Would you rather continue holding with constant sell pressure from the poeple who feel trapped? So that every time something remotely positive happens and the price could gain a little people continue holding price down because the other 45% keep exiting? Or instead, would it be smarter to take the 1% hit on treasury from arb traders, allow the team to fulfill their promise of backing to those who donât wanna be here and get rid of their sell pressure, keep the majority of the treasury in tact and all the while have increased your wMEMO position. Then let then team get to work again. And they will build the treasury back up past previous highs. And while thats happening you have just improved your situation because now you donât need as high of a backing price to be back in the money since you will have more wMEMO.
Itâs pretty simple really. Effectively also benefitting those who have their hands tied right now anyways. Also factor in that right now, unfortunately, there is no perfect solution. This is about as good as it gets. And truly offers the path of least resistance forward while keeping the highest likelihood for future success of this project as a focus.
Btw since you keep referring to me personally⌠just so you know⌠yes I have bought some more $wMEMO lately to average down. Overall I am still underwater (by a lot). And Iâm ok with it. I will continue to hold as long as we can find a way forward that getâs rid of the negativity. Thatâs ultimately what we need the most.
The same way you are angry and frustrated now, and bringing that same kind of energy to your responses⌠I don;'t want to be in this community a year down the line and people are still crying over âWhat about backing promise?â , âTeam are liarsâ etc etc etc.
Trust me, I know this isnât the best for those who bought way above backing. But to be fair, we all made the mistake of buying into the protocol when there was too much hype and overall market conditions were also very supportive. The hype has since died, and the overall market has taken a big hit. Nobody could have predicted how things would play out like they have and so for those who happen to be in the position to capitalize on the chaos - well⌠thatâs just how crypto works. You, me and everybody else has the exact same opportunity sitting in front of them right now. Whether you can capitalize or not, depends on how you managed your funds. Thatâs not other peopleâs problem. In fact thatâs how any investing works. Are you not prepared to accept fault, responsibility and therefore downside for making the mistake of buying above backing? In other words for making a bad investment?
This is a very important step in rebuilding WL. Just like Dani following through with the airdrops and rev share he mentioned on the AMA. Itâs about rebuilding trust and following trough on a promise.
This needs to happen, either in a bigger proposal that includes a ârage quitâ or just a separate one not tied to the new project goals. And it makes sense to pull this portion out, the people leaving do not need to nor should they be involved in the decisions of what to do with WL after they rage quit.
This needs to happen first.
This is the first formal proper step.
Good job.
Lets keep it moving properly and get it done.
This is the way.
Yes I agree with this. I too would be open to the option receiving SPELL. But since other people may not want that, it is probably best to just let people receive liquid assets. Then if they choose to go to SPELL and exchange their assets for SPELL afterwards through abraâs portal, then they can do that.
This way both teams donât get blamed of forcing people to stay trapped in their projects and we donât create huge sell pressure for spell. Because only those who want to hold it will go take the extra step of exchanging their portion of treasury claim for spell. Others who would have sold spell simply wonât go do the swap.
What are your thoughts?
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Would you rather continue holding with constant sell pressure from the poeple who feel trapped? So that every time something remotely positive happens and the price could gain a little people continue holding price down because the other 45% keep exiting?
Yes. Revenue share. The bigger the treasury, the more we all get paid later on. Iâm not selling, so the wMEMO price doesnât affect me.
Btw since you keep referring to me personallyâŚ
Sorry, I donât know you personally.
Trust me, I know this isnât the best for those who bought way above backing.
Yeah, thatâs why I think itâs not beneficial.
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Your first sentence is not true. People buying under backing are not the ONLY ones benefitting. Everyone does. As detailed in the proposal. If you still feel youâre right, please provide a detailed explanation. I would be interested to hear it in case I missed anything.
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there is a ton of mim in the treasury, that would be easy.
Thatâs why your arguments have no ground. You are basically admitting that youâre not prepared to acknowledge and accept the fact that you have made a bad investment. Your timing was poor and now you expect to hold others liable. This is not how the world works. I am done addressing your emotions, all I can say is please give this all another read and reconsider.
Keep in mind that you canât reasonably expect THE BEST outcome from all this when relatively you have made THE WORST investments choices compared to others buying now for example. I donât know how else to say it but thatâs not how the world works. Continually crying for the toy your parent has said no to long after youâve walked out the store only makes you look bad and puts your entire judgement of this proposal into question. Thanks!
How are you making money with rev share if the price of wmemo keeps dropping to nothing? If you bought 1 or more wmemo, your down over 100K, how long do you think itâll take for a $100,000 payout from revenue share with your 1 wmemo when there are hundreds of thousands of wmemo in circulation?
And lets say you do get some rev share. But wmemo is is $10,000 now, so others can join in at 1/10 of a cost as you paid, for the same rev share? Thatâs the perfect plan?
If there is a sell at backing price option, as promised, and as almost everyone wants. Then the price will go up, because people will buy wmemo, because it is below the backing price. and when wmemo goes up in price, everyone wins.
I read the medium article and its really hard for me to predict whether the outlined scenario will play out or not as I am not a math guy nor am I knowledgeable enough in that field. In case this scenario of minimal treasury loss/impact seems probable a rage quit option could be a healthy option long-term without detrimental effects. Id be in favour of this proposal assuming the probability of this playing out is realistic. Therefore Id like to hear more peopleâs opinion with more expertise on this issue.
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What on earth does the price of wMEMO have to do with the income from my portion of revenue share? That price can go up and down, doesnât matter.
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There are a lot of feelings around âwhalesâ and people are salty about them using the arb to make money. I donât disagree with that, but they are playing the game by the rules as they currently exist. âFairâ isnât a part of that equation.
If a rage quit option is not given, this project is going to bleed out for months. If you look at the price action since the mega dump, any time that the price jumps a few hundred dollars, people are selling. This will go on for a very long time, because there are so many people underwater.
It doesnât matter what improvements are made to the project or what new directions are explored. If the people who do not want to be involved with the project are not offered an orderly exit, theyâll dump every time the price pops, which will negate any of the positive things that Dani or the team come up with. As creative as the team is new investors will not show up if there isnât upward momentum on price.
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Thatâs why your arguments have no ground. You are basically admitting that youâre not prepared to acknowledge and accept the fact that you have made a bad investment. Your timing was poor and now you expect to hold others liable. This is not how the world works. I am done addressing your emotions, all I can say is please give this all another read and reconsider.
Whoa lad, enough with the projection. Youâre the one asking mommy to give you a brand new toy 'cause you broke the last one.
The price will go up if backing is honored.
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And the treasury? Will that go up if everyone gets paid out? Why should I want the investment firm Iâve invested in have 350 Million dollars instead of 750 million? How does that make sense?
The Bee DeGee calculation is incredibly speculative and convoluted. Fact: 45% person of tokens voted to unwind so our best estimation is that weâre going to lose 45% of treasury.
It is directly tied to your investment. 100% Nothing else matters. Maybe in the future you might get something from being a holder of wmemo, but as of now, no.
you wonât get your % of the treasury, you will only get out at backing price.
The proportional share you have doesnt change in regards to the wMemo price. Yes someone coming in later will buy in cheaper and therefore get the same proportional share as you are getting now while having spent for example 20% of what you initially did when you first bought wMemo. But thats part of the market as shitty as it sounds.
Remember, your proportion still doesnt change meaning you still get the same amount of that revenue share 
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