There has been over 200 comments of support for The Professor’s proposal post in the General Discussion and it has been one of the most active boards this last week. The original article proposed many changes, too many to vote on in one governance proposal. In his newest article, he addresses the Rage Quitting Solution and comes up with a fair outcome for both sides (link below). *
Option A: Allow a Rage Quit Solution whereby those that exit don’t receive up to $67 million of the Treasury and those that stay receive an “APY multiplier”. Trading will be suspended during the vote to not allow any whales to arbitrage (this is what is recommended by The Professor).
Option B: Allow a Rage Quit Solution and include all assets held by the DAO and don’t suspend trading.
Option C: No Rage Quit option.
Please read The Professor’s newest article before commenting or voting as it shows what we as a community need to consider.
Name: [RFC] - The Professor Proposal
Scope: This proposal outlines that rage quitting should be the first thing voted with heavy preferential treatment given to those that stay. All other changes to the DAO will come after.
Objective: We need to come together and stop being divisive within the community for the protocol to grow.
Provide a High Level Overview: The Professor’s newest article highlights the need for a rage quit solution and why it will actually benefit the protocol. He outlines how both sides can win and how to stop whale manipulation.
Definitely option A. Without rage quit, we can’t move forward.
For those who are saying, we need to be together, the people who want to quit can’t wait to dump on the real holders when the price reaches their requirement.
So the best solution is, get them out right now, so that the people who wants to remain can move forward, as they will buy back into the project anyways when they see things are getting better and real holders are starting to put profit in pocket IMO.
Allow a Rage Quit Solution whereby those that exit don’t receive up to $67 million of the Treasury and those that stay receive an “APY multiplier”. Trading will be suspended during the vote to not allow any whales to arbitrage (this is what is recommended by The Professor).
Allow a Rage Quit Solution and include all assets held by the DAO and don’t suspend trading.
I’m good with either Option A or Option B, leaning more towards Option B as it’s a free market and people that wanted to arb have already bought in. Going forward with an exit option will establish a price floor and reduce the volatility of wMemo. It’s a win-win, and afterwards there’s no incentive to leave since the market price will rise to its backing.
Trapping investors after the scandals (which investors did not know of) is extremely bad for the image of the protocol. And Olympus already offers a similar option through the inverse bonding process.
With this DAO, treasaury raised, and DeFi, all is moving quickly. Now it seems we moved really slow for the past couple of days. Lets make WL great again and vote, fast!
Is it even possible to stop trading? The DAO does not own all the liquidity. This is especially true on FTM. Seems like the people who own LP tokens stand a lot to gain from this.
Will pulling the liquidity in itself cause even more FUD? I can just imagine the rug pull headlines that will come with that.
IMO inverse bonds at slightly above market (until backing) seem like a better option. OHM already has it coded. Should encourage the market to arb the market price up to backing then anyone who wants the exit can find it at sushi.
I think people need to realize that option C no longer exists. There is already a mature RFC for option B so there will be a Rage Quit vote. At this point, we, the community need to decide which option goes to vote. The vote itself will allow the community to choose option C. Basically the vote will come down to Option A vs No Rage quit… or Option B vs No Rage quit. I prefer a vote on Option A.
One question thay comes through my mind : what would happen to the collaterized positions on abra if the lp are removed ?
There are still around 3 millions mim borrowed against wmemo on abra.
I vote no on the professor. I dont feel he completely understands the dynamic of the apy marketing and how so safely handle it. I support revenue share but that wasnt his idea it existed before his proposal.
