Rage Quit - The Real Cost- 320,000,000 to the treasury

General Discussion
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There are a lot of proposals being bandied about regarding the Rage Quit option. But the real issue is being missed, before we can possibly be in a position to make a decision on it. That is simply the cost to the treasury, and to invariably the people that remain loyal to the project ( effectively the people that voted NO ).

Unfortunately, people seem to be fudging this question. Some say it`s too difficult to calculate because there are 3 tokens involved (time, memo and wmemo). This is not good enough. If we are being asked to decide on the Rage Quit option then we need facts and figures. What if the cost of Rage Quit is too high for some people to stomach? This information is vital to making an informed decision (Dani and the team can you make an estimate?)

The other question, obviously, would be that we do not know the number of people that would Rage Quit? Well, we do in a way. Simplistically, those would be the people that voted YES in the big vote. So I am going to put some numbers out there in the hope that this conversation can be kick started. That some big brains out there can calculate and substantiate their take on this matter, and give us some figures and reasonings that we can think about.

My calculation will be quite simple and straightforward, but it`s based on the facts to hand:
People voting YES in the winding up Wonderland vote - 40%
Current treasury value - 800,000,000
Cost to treasury of Rage Quit at Backing Price - 320,000,000 (40% of 800m)
Remaining treasury - 480,000,000

It is worth noting that those that voted YES, numbered in their 100s whilst the NO vote numbered in their 1000s. My interpretation, therefore, is that the NO vote will be unfairly treated in the event of a Rage Quit option. Tell me why I am wrong? ( It is note worthy that the Professor states the figure at 200M to 250M in a Discord question I asked him:

The Professor — Today at 22:26 (7/2/20220)

Hard to say but if we consider 40-45% of people voted for the wind down and applied this metric, it could cost $200-250m, as this would exclude native tokens from our treasury (i.e. RFV) )

EDIT: I did a calculation and if those tokens bought back were not burnt, the Backing Price would fall to just under S23,000.

1 Like
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Rage quit is another way to liquidate and steal from the treasury. Rage quit is UNACCEPTABLE. It only benefits the whales and those who bought the dip. We should move to a revenue share model that will help people recover their losses.

3 Likes
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I am probably being stupid here. If many wMEMO tokens are part of the treasury, what difference does it make if they are burnt or not? They belong equally to all wMEMO token holders outside of the treasury, so they are neutral in this calculation?

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I don’t support the rage quit option. However, if the DAO supports it then it should only take into account those that (1) voted “yes” and (2) are determined to be long term holders. “Long term holder” would need to be defined.

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