Stop this stupidity as it’s allowing Whales to use arbitrage to rob the treasury every quarter, they then buy in again at a lower price and the cycle starts again. If this continues it will slowly bankrupt the treasury as we can see from treasury holding being reduced quarter on quarter. We should not offer a safety net as this is crypto which equals high risk high rewards.
Agree with that 100%
What is the alternative?
Do we lose money through liquidity pool, or through redemption, right?
We actually make money from LP fees hehe
Yeah but if it just becomes exit liquidity with no reason to go back up, because there are no redemptions.
Yes stop this redemption before the next redemption, this is not helping it giving opportunity for arbitrage. And the first redemption, 4 wallet withdraw huge amount of money and they buying in again incould sifu wallet stop this shit now. And we don’t have to vote on this because the whales will vote against it
Your correct buddy I think the 4 main wallets sold around 50 million worth of WMEMO and again one was Safuu, why are we buying his token to the value of 250 million for him to screw over this DAO. It makes no sense and as you can see from the treasury fund its going down due to this program of madness. Looks like an old pals network of get get rich scheme
Fees are fantastic but the loss in treasury pool revenue would not justify these fees I would think.
Thanks for the support
The TM should have improved treasure before implement redemption now the treasure is being drown
Wasn’t it $25 million and not $250 Million?
Possibly but the hypocrisy stands if he is buying and dumping our token, hopefully you agree.
Stop selling under backing. Its people selling under backing that are creating the arbitrage opportunity also there is nothing stopping you from eating it up.
I absolutely agree. However, if you haven’t heard of a Sybil attack, read up on it.
What is a Sybil Attack
A Sybil Attack, also commonly called a 51% attack, is essentially a takeover attack on the blockchain where malicious actors try to take majority control over the network by creating multiple accounts or nodes and acquiring a major stake in the governance mechanism.
In the context of DAO governance, Sybil Attacks work in a similar manner, but are primarily focused on passing malicious proposals that can compromise the integrity and best interests of the DAO.
This is a simple exploit based on the foundation of permissionless systems found in DAOs, where any holder of a governance token can cast a vote in the proposals put forth. By creating multiple wallet addresses that allow for greater vote shares, the malicious voter is able to tilt scales in favour of their spurious proposals.
Totally agree about the price under backing buddy and yes I could jump in but it feels as if its a managed attack by 3/4 wallets to the tune of 50 million. Perhaps I’m simply jealous lol.
Thanks for the info and education, sounds about the state of what’s going on.
The redemption passed by a significant majority of voters. With that said, it has its faults and Nal X has recently written an RFC to further amend the quarterly redemption and make some improvements. Once these improvements pass, I think it will be more equitable to long-term holders. The concern regarding depleting the treasury was already addressed, the original redemption WIP has a built in “halt value” so the redemption automatically goes up for a revote anyways at $100mm. So if the DAO wants to stop it, they can vote to do so at that time.
I would suggest reading the amendment first to see if you still want to proceed with moving your dicussion to an RFC: [RFC] - Amendment & Clarification of Quarterly Redemption - Governance / [RFC] Request for Comment - Wonderland Governance Forum (wonderlandforum.xyz)
Thanks for the information
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