Why? The backing has been honored in the past through buybacks. You can’t just arbitrarily stop it and screw over the innocent buyers caught in the mix.
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Fully in support of the proposal, with the caveat that once the redemption window is open, liquidity is temporarily pulled. This is to prevent weird dynamics where you have micro buys and instant redeems. The opportunity to buy up to backing price would be available to anyone up to the redemption window and everyone. Similar to Snowbank, there was a transparent time when redemption snapshot would be taken, and price hovered quite close to backing.
No governance proposal on the overall path forward will get enough support until holders who were PROMISED a redemption by Daniele are actually given it. We will end up spinning in circles for months until we rid of the investors who want out.
Those who are suggesting some kind of retro snapshot, that makes no sense. Anyone can (and can still buy) Wonderland and take on the risk of whether or not they can redeem. What I think many don’t realize is that if there wasn’t a notion of redemption, the price of wMEMO would likely be <$10,000 if not lower. The only thing keeping the price relevant was the promise from Daniele redemption would be allowed.
Supportive almost exactly as is. This will clear the path for future fund management and operational votes.
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Hey, I am an innocent buyer too and a longterm holder, so I don’t understand your insinuation that I am dishonest!
If people have just bought and want to make gains by selling at (a much higher) buy-back price, then I am against it. If people bought above buy-back price, then I think it that should be honoured as it was promised when they got on board. If buy-back is no longer officially supported (expressed during a bad audio signal by Dani 2 days ago), then it should be correctly announced on the home page as any company would do. Notwithstanding, the previous promise for long standing investors should still be upheld.
I hope that clarifies any confusion?
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Stupid question. What is rage quitting?
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It is actually a stupid term and appears to have differing & inexact interpretations depending on where you look. It is basically a mechanism targetted primarily to those who were hit badly by the recent drop and wish to exit the project because they are in rage.
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Strongly in favor of this proposal. The situation has changed dramatically, and it is going to be better in the long run for the project to only to continue with people who believe in the future vision and plan. The idea people arbing the wmemo price up somehow being “whales” that should be punished is ludicrous. I firmly believe that this arb + the quitting option is the only thing that can get this project back on track for those who wish to continue.
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Do you think that it is fair that holders who believe in the project who have bought recently to lower their cost basis should be punished? Snapshots are simply not a viable solution.
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Yep. Exactly what Iam talking about.
We should work along with this one.
https://dao.wonderland.money/t/rfc-offer-rage-quit-before-other-decisions-are-made/13879/9?u=jenslyn
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Exactly as I mentioned in my post above:
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Isn’t that all of us minus the Russian bots hired by Dani?
It’s funny nobody cared about whales buying below backing for buybacks but now everyone cares about a one time redemption that will solve the issue permanently.
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First we need a CFO, it would be dumb to do this before an intelligent insider had a chance to look at it
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This is an obvious next step. $TIME will fail to achieve higher prices, regardless of treasury performance, until we give the 48% of the community who want their share of the treasury exactly that. Lets let the community consist of only long term believers, allow people to rage quit at fair value, and continue on in peace
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I think this is very logical, this is a good compromise to strengthen Wonderland going forward and allow it to continue towards it goals.
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I support this proposal fully, it is very clear there is some misunderstanding by some holders.
Whales are not the only one to benefit from this, all holders will get to arb the difference to RFV. Similar to Snowbank’s risk-free arb, a lot of holders were able to cover losses. It also helps provide a good narrative to pave the way forward for the community as only committed holders remain (at RFV). Those who wants to leave can do so. After the redistribution event ends, Wonderland should go godspeed and build, build, build!
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RAGEQUIT IS NOT AN OPTION, HERES A THREAD OF WHAT I THINK ABOUT IT AND WHAT I THINK SHOULD BE DONE INSTEAD
https://twitter.com/Yaku___B/status/1489502102435115012
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I fully support this proposal as a top 100 holder, supported the project since October. This will only reduce treasury by 30m, while the buybacks have cost 10s of millions and not contributed to anything.
LONG LIVE THE RAGE QUIT
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I would argue that if you are a holder who believes in the project long term and bought recently to lower your cost basis that having a snapshot that does not allow you to use those recently bought tokens to rage-quit isn’t really a punishment.
I am exactly in this position, have bought more wMEMO recently to lower my cost average, and would have absolutely no problem with a rage-quit option that excluded me from participating, because in fact, I will not be using this option. I much rather wait for when we are trading at a premium again.
Now if such snapshots can technically be done in a way that is fair to everyone is a whole other argument, and from some comments made on Discord, apparently it is not as straightforward as it seems because it might involve having to track a lot more tokens than just wMEMO, such as LP tokens in several exchanges.
If the snapshot risks being unfair or becomes so complex that it would just drag this out even more, than I think we should just avoid it. Remove liquidity so there are no current opportunities to game the system and let’s move forward.
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Frog Nation wants a new a proposal excluding recent whale buyers and I think we can get this passed easily for a true rage quit option for people who are losing due to the FUD. How do we revise this or get a new one out getting rid of recent buyers like DCF? Frog Nation discord going nuts right now seeing these guys just bought and want them OUT of all proposals.
Address 0x238edab57c91d1db2f05fe85295b5f32d355567c | SnowTrace
here is an example of a whale - DCFGOD who is buying as recently as few minutes ago and over last days and has never owned TIME in past. Why does he get a 2x and take treasury from frogs? I will share many more such wallets who are basically stealing all the FROG MONEY.
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Lol we are getting fleeced by DCFGOD. He has no interest at all in wonderland and put on a 4m dollar position to arb the treasury. And we want to allow him to take all the frog money? Frogs will not go for this and we are discussing ways to remove these types of folks they can sell now for what they bought. What a scam and funny the guy is proposing pretending to care… he was not even a holder a week ago… Frog nation is uniting and we will defeat this unless its changed like we did the last one.
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