[RFC] - Proposal to burn wMemo Tokens

To be clear, this is a RFC?

I would think for even just good housekeeping within Treasury to:

  1. Move Fantom wMEMO to Avax
  2. Wrap Memo to wMEMO
  3. Wrap the small amount of TIME to wMEMO

All wMEMO then would have consolidated to Avax - and at that point send most of wMEMO to the 0x… dead contract.

The amount I’d suggest to remain in treasury would be about:

  1. The amount currently in the wMEMO/MIM LP contract
  2. A small amount of around 300 wMEMO for any balancing contingencies.
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I like SkyH’s housekeeping ideas, lets clean those wallets up!

I agree a reward for holders that kept the ship going is a good idea! But i believe it will never be voted without a vesting period. We might also include some % for burning to raise the price at the backing (i dont think that is needed at this time, maybe add it as an optional choice?) I don’t think there is a reason to burn to reach the backing price. Burning just helps the people that sell not wonderland and not long term holders. We want people that have a long term attitude and do steady sells and not empty their whole position the second the price goes up.

Forgot to reply. Yes, it is indeed an RFC. However, given the time elapsed and the situation we are in now vs then, we should probably restart this.

As for the wallet cleaning, this definitly falls under your authority in my opinion.

I would say, that keeping the amount of TIME unstake does technically benefits the holders. Although, the amount might be pretty insignificant.

As for the amount of wMEMO we want to keep… Is 300 really enough ? Are we planning to increase liquidity again later down the road ?

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Given that Ponzi may no longer be with us in the forum - can we take up someone else to write the WIP?

In this situation, we can probably do it :slight_smile:

RIP Ponzi, the first person to ever make a proposal for Wonderland :heart:

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Sorry to ask again, but are we putting this up as WIP? I.e. has anyone taken the task of writing it up or are we just waiting for someone to do it? I’ll do it if nobody is working on it already.

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Sky is drafting it. All good :slight_smile:

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