I agree it needs to be stated clearly. It might be quite obvious for the team, but let’s ask them to add it.
Ragequitters exchange wmemo for MIM and those wmemo go to the DAO’s treasury, unless the DAO itself dumps on you, they are as a good as burned ! Same as all those wmemo in the treasury wallet now
@NalX or @WonderlandTeam : Can you add to the WIP, CLEARLY that ALL WMEMO from ragequitters will be burned ? That seems to be a major issue here. (also on the discord)
How eloquent… This is supposed to be a platform for dialogue, 
agreed, that will probably save a lot of headaches confirming the Burn.
Something I can stomach at least if we’re moving forward quicker than later.
I think you changed my mine. I think im going to support the rage quit because i see alot more upside to this then downside (near term). RQ goes thru and the treasury bought the tokens at RQ price. That is the new floor. Now if the RQ crowd turn around and buy back in then they are reaffirming that floor and their is clear holding above because all the sellers sold, that will in fact move price up faster.
If we burn those tokens (we better) that also lowers the amount it takes for a holder to acheive 1 Wmemo. Those burned tokens deflates the protocol significantly and boosts our floor (this floor has to be defended though - unless we have an immediate plan for revenue share, otherwise floor should be defended until revenue share is implemented.)
Holders get near-term win by the trading range moving up to the price the treasury paid for the RQ event. Then could move higher based on the momentum, no immediate sellers near RQ price and light supply. If RQ crowd tries to buy back in they are swimming upstream as slippage rapes them while buying back into the protocol.
How do you make sure that the whitelisted are not those that want to sell at backing price then come back in again with lower market price after the Rage Quit is over? The whole buyback at backing price thing is harming the rights of those staying in from the beginning till now. There should be no rage quit, no buying back at backing price. If you want to leave Wonderland just leave at your lost, just like when you buy BTC.
This makes more sense to me as well. It’s not perfect, but the logic is sound in theory.
I still dont understand why there even is a rage quit. I mean what other investment has so many ways out, a loss is a loss. As long as wMEMO price is at backing this should be fine.
Help me understand one thing!
I believe in the project. I believe it will do wonders in the future. But I can rage quit to get my wmemo for backing and then buy back into the project since the price will still be below backing until the buybacks happen. With this I have more wmemo. Why shouldnt I do it?
This isn’t going to move price up to backing. Why would it? Arbitragers want a discount. They aren’t going to be buying it up til it’s 1:1 at backing price…
How does this benefit long term holders who are at a loss, even at backing price? It doesn’t.
This is literally FOR arbitragers who want a piece of the treasury.
It’s no benefit to long term holder, nor is it beneficial for wonderland’s treasury.
Rage quit does not move the price up to backing. It’s simply allowing wMemo holders to get a % of the treasury contingent on the amount of wMemo they have, valued at backing price.
This proposal is NOT buying wMemo at market price with the treasury assets. That WOULD move price up. But that is not what’s happening.
Please don’t spread false information.
If you want to rage quit, the market is open and you may do that now. Save the treasury for those who are invested in the project.
What ravensky and ironman.jstme banking on is not the “trading” of WMEMO by the treasury to move the price up, they are banking on the burning of the traded WMEMO to move the price up.
What I dont like about this proposal is: there is no snapshot before sifuGate. Meaning, if I have the money (which I dont), I can buy 10million WMEMO now, knowing I can take a fairly good chunk of the treasury tomorrow (or whenever they decide to do this rage quit exercise).
The frogs who really need this option are the ones affected by the cascading liquidations, not the whales who bought the millions of WMEMO after the price tanked to 20K last month, or any whales who gonna buy tonnes of WMEMO tonight.
If we are not really benefitting the frogs much with this proposal, I don’t see a point in this exercise.
Please read this. Makes sense to me. Changed my mine. I do not intend to spread false information whatsoever. I have been the most vocal here today laying out as many facts as i can. Fact is his logic is sound and i actually disagreed with him earlier until he fully made his case. I agree with him.
it seems like ( answering to your last quote)
The rage quit option is not cool. If these people want to get out now, then they should sell. They are being whiners and don’t believe in the project.
At this point, we are all suffering without a treasury manager. If these people ragequit, we will suffer harder and longer. The redemption phase for WL will take way too long.
I almost feel as if there’s a few whales who missed their signal to sell and now they proposed this to secure their own opportunities.
RQ = bad choice.
If you want out, then take the out by selling. The whole point of TIME being backed is to give value to the DAO/project. It is not a safety net for people who feel scammed because they didn’t sell at the right time.
For those who are choosing to stay and not cash out, in hopes of rebuilding for the future, it doesn’t seem fair that a rage quitter should be receiving a buyback close to backing price. Those holdings are how the future can be rebuilt. Split the difference between the market price and backing value.
This seems much more complicated than it should be. So many votes, halting trading, etc, seems like it would create too much panic and FUD and hurt the future potential of WL. Why not just:
And if you want to be vengeful:
3) Any one cashing out will have that wallet blacklisted from any future profit sharing or airdrops which have value determined by holdings from before the OTC cashout
if people sell because of a no vote, they sell and is out without affecting the treasury. It is better than paying them out of the treasury. Short term pullback to $17k or below is also fine. Rebuild with people that are interested in the long term project.
I think everyone is too focused on the whales and them making profit that they forget themselves on the way.
As Sifu said on discord, backing should be respected as it was promised, that’s one thing.
Moreover, you get MORE if you stay, YES treasury will be smaller but you don’t need a 400m$ treasury, most investment range from 1 to 10m and are very hard to find, you won’t have more than 1 per month in the best case, good investment don’t fall from the sky.
I am voting YES and staying with more value for my WMEMO, thanks to the whales
