Wonderland is a great project with a treasury that is earning great yield and has held up in value very well thanks to responsible treasury management and stablecoin farming from wSifu.
There are some dedicated frogs who bought at or near all-time highs (~$165k wMEMO value) and have held through wMEMO at ~$47k. These frogs have held through turbulent times for months and helped grow the protocol in its infancy; it is painful to know that people can now get over 3x the wMEMO tokens for what they paid.
I propose that we use some of the recent wMEMO that was purchased by the treasury below 50k to airdrop to these loyal token holders. This would reward loyal holders and also encourage people to hold their wMEMO during periods of volatility in the future.
The variables that would need to be decided are:
- At what purchase prices would someone be eligible?
- What time periods would someone have had to hold to be eligible?
- How much wMEMO should be awarded?
Here’s what I propose:
- This can be a sliding scale: those who bought at a price above $150k would get more wMEMO than those who bought between $125k-$150k wMEMO.
- We take a snapshot of people who owned as of Dec 1 and still hold as of Jan 31.
- I don’t have a good gauge of what should be offered; but I imagine we could use some fraction of the wMEMO that the treasury bought back below $50k and burn the rest.
The downside of this is it would slightly dilute other wMEMO holders, but I imagine it would be minimal. The team should run the numbers to decide what the right balance is. Again, this will encourage people to hold through volatility which will make Wonderland even stronger.
i’m curious to see what people think of this.
There is a discussion in the burn thread about the possibility of having an airdrop for such holders, which might be worth your time looking at:
Thanks for sharing. It would be good to bring that discussion over here since this is a formal proposal to do so.
Ehhh… No shade but I don’t agree. And I’ve been holding since early/mid oct. Doesn’t really fit the “all frogs equal” kinda mentality. But again, no shade…just my opinion. I don’t need a reward for holding, the entire market is down - not just us. I mean ID TAKE IT if it was offered, lol, but I’m not in favor.
Very well thought out plan though and i admire the work put fourth.
sounds like an easy/cheap way to incentivise more to hold, instead of trying to swing trade. I would vote for this, as long as it doesn’t affect the treasury to much.
Thank you @frogfeeder
I agree with this and would vote on it for sure. I appreciate you taking the time to create a separate proposal. I’m curious to see what other loyal and long-term investors think about this? I’m also curious to see what wSifu and Daniele would think of this.
Im with this 100%. About it diluting other memo holders… I dont know if it would but if they’ve been holding for a while, they’ll get more wmemo anyway so that should offset it. As for people that just bought in, they got a pretty damn good deal.
I’m with all this. Sliding scale calculations according to time and cost variance to ensure equitable distribution of reward/airdrop. If done within good parameters will be awesome.
I think it could be fair to take the snapshot as at those who held 48 hours prior to falling below advertised backing price
Incentives that don’t equally reward all holders discourage new investments.
Wonderland needs new money.
Yes , can you please submit the topic to be [RFC] with goal to be executel latter as [WIP]? Thank you
Will do but probably the timing isn’t right at this moment given all that’s happening.
This topic was automatically closed 7 days after the last reply. New replies are no longer allowed.