Full support, vote YES!
Correct, but it should only apply to those who bought also over backing price, not late time low sweeping arbitrageurs. And this crucial part is not included in the WIP. Add to the proposal that only eligible frogs from before Sifugate are allowed to use it. Simple.
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agreed and i will be voting no on this until the following adjustments are made:
- this wip must include the dissolving of the backing mechanism.
- this wip must specifically call out the AVAX blocks from the start of danni’s liquidation to the end of his liquidation to qualify for rage quit.
- this wip must explicitly state the OTC rage quit auto burns every token received.
- this wip must explicitly state the LP will be adjusted to backing price when reopened.
- the rage quit payouts will be automatic and based on treasury threshold (20m allocation every time treasury surpasses 800m as an example).
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The proposal seems well thought out!
I think it comes down to what is more important to you…
- Punishing hypothetical speculators that have been buying below backing with the hope of profiting
(or)
- Ensuring that
s who trusted in the promise of buy-backs maintaining the backing price have an option to exit at that value
Given the values of Frog Nation, this is an easy call for me.
I’ll vote yes.
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I mean it is implicit, whatever wmemo goes to the DAO Treasury is considered burn in my mind, but others might not see it this way.
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That’s what exactly the smart guys will do…you grow your portfolio by almost a third
It is not burned per say since it could be used in the future. For example, we could allow bonds at a high premium without being dilutive. That said, it would take them out of the circulating supply like the buybacks did.
Plus “implicit” can be a dangerous line when voting on proposals.
I didn’t do the math before responding, but I disagree with point. Why can’t investors who got on board earlier than this date quit?
What are you trying to say? That just links to the current version of the WL homepage.
Are you Dani?
lol no i’m not Dani. its his tweet “Just remember who keep their words. Wonderland buys at backing”
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Good news, but I think it is stupid that management uses several communication channels to communicate with investors. I for one do not and will not use Twitter.
I am out of here if this does not change!
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My vote would be a sound NO. If a snapshot is used before Sifugate took place that would be fair to long term holders. WMEMO bought after Sifugate should NOT have the option to sell their WMEMO.
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There is ONLY 1 Rage Quit Option - Selling at MARKET PRICE
Don’t get me wrong, I totally understand the sentiment. I’m down 90%+ as well.
HOWEVER, please consider these points:
- Wen Snapshots? After SIFU-Gate would be mostly benefiting the exact same whales again that we worked so hard to vote against.
- This is an elaborated plan with MANY uncertainties and MANIPULATION POSSIBILITIES, think about
– The calculation of the however adjusted “backing price”
– Trading halts
– New smart contracts that access whatever liquidity in the treasury and throw them on the market, etc.
If we should’ve learned something, it is that active market management does NOT work.
You know what OG Olympus does below backing price? - Nothing. The goddamn markets exist to figure out what kind of value something has.
Does a company give investors “exit options” if it is trading below its book value? - Fuck no, smart faggots like Buffet are buying them in such situations. (Or they go bankrupt and get liquidated whatsoever.)
This brings me to the last point, properly liquidating Wonderland would’ve been a valid option (not a good one bc of the whales tho), this “partial liquidation according to a calculated backing price” is NOT a sensible option.
It only leaves a crippled treasury and makes any path forward all the harder.
Was there a “backing price” advertised, in the whitepaper, etc? Well yes, but guys THIS IS DEFI. It’s insanely risky and YOU take the responsibility in the end. No matter if something is a rug pull or simply did not work out as intended.
It’s finally time to leave the past behind us and focus on forward-looking proposals. Anyone can leave at any time - the door is the market price.
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It sounds GOOD!!!
Please review this Option.
Im since the beginning and have 90% loses, If theres is and option to exit with exact investment (USD based) and I forget the amount I had earned during this months.
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I am 100 percent for this… when can we vote?
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good for everyone, those who want to stay and go
The snapshot needs to take into consideration the wMemo price, if it was below the backing price at the time of purchase then they should not be able to Rage Quit and profit from this. I will be voting NO. Nothing in this proposal addresses this, it feels like a sneaky way to allow certain groups to dip into the treasury funds.
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These were exactly my thoughts 100%. What strikes my mind is that they let whales get away with abusing purhcase below backing while getting out at backing price. I am here not talking about excluding all whales. Whales always find a way. But we dont have to make it that easy for them. The ones benefiting the most from this, are holders buying in shortly after this arbitrage opportunity presented itself. Of course not all of them are evil whales are needed.
It also doesnt seem very logical to offer RQ without outlining possible future plans as we are sitting on our butts for another few weeks until theres a next move or maybe there is. How are supporters supposed to make a decision if they dont know whats coming next. Making a fundamental decision based on an uncertain future. I think it all goes back to communication and transparency.
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Voting no, as this proposal is currently written. I want our full treasury available for our new investment team so we can all start making money again as quickly as possible. The market is rebounding. We do not need a rage quit option. All everyone has to do is wait and cash out when the price is right or cash out now at market price if they no longer wish to be in this project. That is the game. You can’t go to a casino and demand all your money back when you lose. There is always risk to investing. Plus, I do not even see included in this proposal an immediate incentive for non-rage quitters to vote yes. The way I see it, rage quitters are just getting free money. As someone who never leveraged and never sold, I got wrecked by everyone else. I need to know what the immediate benefit or incentive is for me to allow a rage quit. I think those who do not rage quit should get an immediate air drop once a rage quit contract has concluded.
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