“a crypto company who offers a guaranteed buyback price”
Where that statement even comes from? Who ever said that?
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Wonderland won’t benefit. These are people who want either to sell at a price higher than market price with long term holders paying the price through treasury or people who bought low and want to arbitrage.
DCF is pushing a lot on this because this is his expertise, he boast how his entire strategy in Ohm forks is to sweep the floor buying back below RFV and arbitrage.
He’s a whale trying to make a bunch of money through arbitrage, he couldn’t give a damn about the project, he has never been active and now all of a sudden is all preoccupied for WL.
Wonderland just loses from raige quit option.
Someone wants to sell? They can, at fair market value, they’re no hostage. They know their risks and what they signed for when they invested.
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The backing price had been honored in the past through buybacks. Arbitrarily stopping it is wrong. The only way to move forward is allowing redemptions at RFV. A few whales make some money, so what? You want the protocol to go back on it’s word and ruin it’s reputation further?
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Ser, we can’t see everything. We need people like you to use the flag option to help us identify problematic comments/post. Thank you!
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The buyback price was even published on the website for a long time and it has now disappeared. You are possibly a newcomer here?
That is what this whole discussion is about!
It’s easy to make include a stipulation that anybody who purchased after 10 Jan cannot get the buyback price. That would exclude the newcomers, who might be whales or not, so that anybody who just purchased cannot exit ‘internally’ at a higher price than when they entered. They would have to sell on the open markt. That is only fair!
I am spending too much time here and have decided to slow down. Good luck.
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Just an attempt to arb trade, real solutions are being vetted have patience and you may just make more then backing long term.
Who ist DCFGOD anyway?
If he bought wMEMO on the open market, has the same right to the underlying treasury assets as anyone else.
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Do you know when he bought?
This proposal is great! Seeing a lot of people concerned about people arbing… I would take this option, and I’d be out at a loss but this would allow for me to get out with a lot more/help me restart & move on. I’m sure there are many many others in my same position that want to “rage quit” with something and not nothing - this will help us. But this proposal will also help the TIME community move on by giving everyone a way out that want out (people like me at a loss, and people arbitraging - you don’t want them sticking around either). As shown in DCFgod’s proposal based on real world data from past/similar crypto examples, this will not hurt the treasury, but really help everyone overall. Don’t hurt everyone voting no to this just because you don’t want to see a couple people potentially profit via arbing… Voting yes to this will get those bad players out, help people get out at a loss but with something more than they have now, and help this project become better/move on faster than it would otherwise. Keeping people trapped is going to greatly slow this project down from any recovery.
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This isn’t like the buybacks. No one is dumping on the open market. The wMemo is redeemed and burned. Arbers have to buy the tokens on the open market like everyone else, which then raises the price for holders. Once market price = Backing price then no more arb opportunity
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so if I ever sent my time from one wallet to the other, you want to exclude me? if I staked it in tarot you want to exclude me? because you “hate” whales? what if I sold, bought, sold, bought multiple times? you’re ok with missing people? furthermore you can buy wmemo cheaper than RFV right now, as long as it is cheaper than RFV it will always remain unfair to people who bought above. and it will remain below until ragequit is offered. what do you mean let them? you have already let them buy it below RFV. they bought wmemo for $25k and you bought it for $100k. they got 4 times more value out their money. the end.
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I don’t know how to do it, I don’t know if it can be done. Some people, including Dani I believe, think it can be done. Allowing investors the option of selling at backing price.
It really just has to be offered somehow.
Maybe it doesn’t have to happen first, but right now people have their investments tied up and can’t pull out at the backing price, which was not the deal when they invested.
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I think it’s important to be done first unfortunately. Whales who have been scooping up discount wMEMO can sway votes for the future of WL. It’s best to get it done ASAP.
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Incredibly important to vote yes and put this behind us. Work out the arbs, work out the paperhands, proper treasury management in place, and to the moon. This is programmed.
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In my opinion there is no fair way to do a snapshot. There is no way to distinguish good actors from bad before, during, or after the liquidation cascade.
Either way, anyone buying, even now, is doing all holders a favor by helping wmemo return to the backing price. I don’t think anyone could agree that the protocol is healthy while trading so far under backing.
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This.
The snapshot is not a solution in any way.
Are you not concerned about all the ppl who want to rage quit, sabotaging every vote until they get what they want? Because this is exactly what they will do, they hold the most votes, and they will vote in their best interest. It is best to let them leave.
this is the stupidest shit ive read in a long time. you are basically giving away treasury funds for free for no reason at all, apart from benefitting whales and killing the project.
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obviously they dont hold the most votes. which is why they lost the winding down proposal.
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