On the fence about this line of thought. On one hand I can appreciate this thinking, but on the other, if people can’t work out the very simple difference, they probably shouldn’t be investing their hard earned cash and should stick to ETFs.
There’s some pretty good evidence over the last 6 months that illustrates rebases are useless. Not sure what you hoping to play out?
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I think we need to stop rebases
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I agree with this in principle, but I worry a bit about unexpected consequences of making a code change like this. It would be wise for someone with contacts with any of the actual project devs to weigh in on whether there are any dependencies on the rebasing mechanics that we don’t have visibility on at our level.
If there would be a way for them to test in a UAT environment, and prove that it was harmless to the protocol, that would certainly ease some concerns I have.
The last thing we want to do is substitute a user education problem with technical debt.
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This is not changing code its just, updating the reward rate variable.
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Are you confident that there are no dependencies on this function elsewhere in the project? If yes, that’s great! If not, we may want to have someone look at this.
Let’s keep screwing old investors that bought pre-crash until we make our money back! Awful idea
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Rebases makes no sense we should stop them!
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Elaborate how this is ‘screwing’ old investors?
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What harm in running it as it is. Crypto is in bear hands and it’s better not to waste resources on trivial things now. Like someone said it’s just split shares, what’s harm in that. Let the rebases run and ignore that if you are not interested.
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Full UwU support for this Kyle. )))
is just a non sense as was the lambo calculator.
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agreed with this of course. Love the idea, but not aware of technical issues for the protocol.
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Rebases work, Bonding stopped, if you stake MEMO it goes up normally, i know it does not add value and its a stock split but people like it so leave it be!
If we want to do such a change we firstly need to lower APY to sustainable levels (50-100%) so inflation does not push the price down and then make it clear how people will earn their passive income (farms/dividends/airdrops/quarterly redemptions/some other way)
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Vehemently OPPOSED. Rebases are one of the ONLY means that ANYONE that believed in DANI have the opportunity to recoup losses. I feel DANI owes everyone in this community the opportunity to do so!
And Do not reply to this comment with that PROPAGANDA nonsense that rebases are not profits, DANI and his crew have everyone brainwashed …
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We’ve been saying for 6 months now that rebases are just a stock split like event - how much time would you like to give people to care and look at their investment?
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It’s not propaganda, it’s simple maths. Rebases are not profits.
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It’s causing confusion, over 60% of holders are not staked in the revenue share farm - which would bring them actual profit. Instead they believe that somehow, one day - rebases will make them money.
It’s not damaging the protocol, sure - but the investors that still believe in them, even though we’ve been educating for over 6 months what rebases are.
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Rather than cutting the reason most are here, and trying to push them towards a terrible revenue sharing side of the project that the team profit massively from. Do something that helps the small fish make money, not take it away from them. Its the small fish that built frog nation.
Give memo utility and make rebases great again
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I would even argue that there is a certain degree of damage being done to the protocol; as the community is the backbone of Wonderland now and the confusion it consistently causes leads to user frustration and the feeling that they’ve been deliberately misled. I know you know this of course, just wanted to add my 2c in how this impacts perceptions that many newcomers could have to your point.
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Rebases where never great. They where always stock splits. The people that invested because a 70k APY where misled thinking it would be APY on their investment not apy on memo.
The revenue share currently is the only way a holder can earn anything using there wMEMO, rebasing do not give you any “profits” that you can use to buy more wMEMO for example.
The revenue share can be improved - this just needs a competent Treasury manager thant will farm yield to put into it increasing the APR .
Giving memo any utility is the same as giving wMEMO utility - you may as well just focus on wMEMO as the main token of wonderland.
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