The crazy APY worked great when we were attracting innocent newcomers, but we need to define wonderland as a VC, not a get rich quick schemes.
I suggest frog nation to
Remove the APY
Rework the homepage to clearly state the goal of becoming the venture capital.
Replace the “reserve currency” narrative.
Completely agree, the “APY” which is essentially inflation, should be removed and the whole 3 token model: time, memo and wmemo adds just unnecessary complexity to the project.
Honestly, I’m not too confident in the whole VC thing at this point, especially with some glorified card game investment labeled metaverse that no real gamer would be interested in. Why cant they just invest money into stable coin farming and other crypto related stuff? Stick to what you know, especially when its other people’s money. I’ve always defended Wonderland on Reddit but I’m just having some doubt. How do you guys feel about this?
so you never hear of hearthstone or magic the gathering, the stable coin farming only give about 10-19% average depending on where you do it with the amount of money we have. with the APY now that’s not sustainable that reason why all DAO have a run time. APY is only needed to compensate for the loss of the dilution of value the token in Wonderland case yes we stop the bonding of wMEMO and Time, but we are still printing more and more MEMO/Time every rebase ( wMEMO = Current price of TIME/MEMO x 4.5 x current Index) so the price of wMEMO is always being devalue. so right now I only see 2 option
stop all rebase, have wMEMO stake for a % of profit share the treasury make in a stable coin (ex. MIM because we own MIM we can just take the profits of the Wonderland treasury makes move that to the MIM Treasury in exchange for MIM to Wonderland treasury to be distributed) staking reward can be on a daily, weekly, bi weekly or even a month rate
keep rebase but it CAN NOT be in MEMO. wMEMO would keep being devalue and lower in price as time go on
By doing any of those two things we set a hard floor price for wMEMO again (wMEMO = Current price of TIME/MEMO x 4.5 x current Index) and the floor price of wMEMO would only up grow with the treasury.
It’s a fact that card trading games are notoriously known for the underdelivery of expectations(ie steam’s Artifact). While I strongly avoid any long term investment of metaverse/game token(like $MANA or $AXIS), the early investments can help securing the metaverse-related tokens for a discount. Of course, this requires the grand assumption that this generic-looking card game will be a viral hit.
I’m personally ok with the fund going for 100% liquidity farming and WMEMO working like a ETF/ETN, but I’m afraid it becoming another just low-risk-low-return overvalued, passive income generator.
I think we should eliminate the Time token altogether and just stake wMemo with rebase being wMemo then no point in having Memo or Time
Fortunes will be made from shitty games in the crypto space. A lot of other shitty projects will do well. We can buy into a lot of prospects and use our reach to promote them at the same time we are boosting our investment in them.
At the moment the whole market is bleeding. No need for desperate measures at the moment. Almost nothing will work until BTC levels out and then most things will rise anyway. Don’t risk the long term health of the project on any gimmicks. I am not speaking about anything in particular. I’m just not saying that the devs should do something just to be seen doing something.
BTW, did we get to the bottom of what Sifu was doing with that transfer to his wallet?
Also, do I need to do anything or can I forget about my investment and rely on any airdrops or whatever just appearing in my wallet?
rebase = bad it creates selling pressure. By eliminating rebase all together, and having wMEMO stake for profit shares in a stable coin not only do you eliminate selling pressure when people take profits but you actually increased buying pressure because if people want more shares of profit they have to buy more wMEMO to steak which in turn drives the price of wMEMO up. Not only that since the protocol itself provides the liquidity and make money off trade we’re also adding money into our treasury as well to increase the floor price of wMEMO
APY just obfuscates the value of wMemo. As sifu has mentioned, it’s merely a stock split. This dynamic is not transparent at all and can seem deceitful. The APY lures in new investors with the promise of getting rich overnight, but investors end up with buyer’s remorse and feel cheated. We’ve all seen it in the discord, and frankly, APY is ruining the reputation of Time Wonderland. On top of removing revshare, we need to hire a marketing team to completely change the reputation of this DAO.
After a split, the stock price will be reduced (because the number of shares outstanding has increased) . Thus, although the number of outstanding shares increases and the price of each share changes, the company’s market capitalization remains unchanged. it mean we print more MEMO, the price of MEMO falls then wMEMO fall too because wMEMO = price of MEMO* 4.5 * index, that combined with selling pressure make the price fall more then what the index cant keep up with the exponential curve of the high APY. look at farm token all of them will fall to 0 because keep printing them
I really wonder how much APY would it be when right now the bonding feature is closed.
The inflation of TIME/MEMO continues but wMEMO doesn’t. What we should look at is the APY of the backing per wMEMO. Surely its APY won’t be in 5 digits. I just want to know how much it is. Or more likely nobody knows because it all depends on the treasury assets.
Agreed time to remove rebases and shift to revenue share model, profit sharing from VC activity and other TBD revenue streams (NaaS?)
Will you please submit your topic as [RFC] with goal to get [WIP].
will the price of wMEMO is price of MEMO * 4.5 * index. since the APY prints at an exponential curve of memo that means the index will have to go out by the exponential curve as well but if the index does not by the end of the year the deflation value of memo itself will lower the price of wMEMO. as for the treasury with 1mil profit per day we looking at a grow of ~40% by the end of the year at without revshare. revshare would drop that %
You should add a vote to your post but I fully support this proposal, the APY needs to be removed, focus of the homepage shifted.
Yes, APY is misleading and thus, should be removed from homepage.
Disagree. We should definitely keep high APY
Considering the heat, I want to see how the current merger proposal, which will be dissolving the treasury for spell, works out with the community.
- Remove the displayed APY
- Let it stay.
I’ll just leave a poll as requested by maxyul.
Considering the APY is accurate as it applies to TIME Rebases maybe what we are looking for is more language that makes it clear that the market cap remains the same.
We fix the APY so that it does what everyone thought it was doing in the first place. Isn’t it as simple as burning the same amount that is rebased? If every time there was a rebase, the protocol bought and burned what was rebased, that would offset the offset, no?