This proposal is too complex and intransparent and needs redrafting.
In any case it MUST exclude any investors who entered after 11 January 2022 and the backing price must also be from 11 January 2022. After all, the platform profited tremendously from early investors and many of those would have left before if they had known about Sifu.
no bailout for those who bought the dip and are trying to benefit from this situation. the BS about getting rid of “bad actors” by allowing rage quit for everybody is just another tentative to exploit our treasury. our treasury is the only strength that remains in this project. why should we sacrifice it for anyone ? it’s a free market, those who don’t believe anymore in the project should sell and leave, no exceptions.
Thats a morale argument and not a financial one. The economics of rage quit make sense. I was against yesterday until i was enlightened and did my own due dilligence and i was missing important info in my formula.
Ragq quitters remove all sell walls and treasury is not selling below backing whi h means low liquidity and high slippage for new buyers.
Inject demand via a revenue share or innovation event and you could have upward momentum. If treasury burns its supply of wmemo then the only way new buyers get Wmemo is from holders willing to sell - meaning high slippage on buys, meaning they pay more for less.
Arb traders should they decide they want to reenter after rage quit will lose momentum wont be on their side.
Post rage quit could see price quickly go above backing and sustain itself organically.
Just sell and leave.
This is a free market.
Pretending that rage quit will solve toxicity on social media or help get rid of bad actors is just a sham.
Was it? What kind of contract? Court of law and DAO shenanigans are a pretty complicated issue. It should’ve been actually built into the smart contract in the spirit of “code is law” then.
Don’t get me wrong, I’m not even necessarily against a somewhat well-planned and executed exit option but how would you justify e.g. the 1st of January as an exclusion date then?
I’d argue that people should realize that we are in an unregulated environment (which is good AND bad), and the only thing we have here are the cold, often irrational markets. Sorry, we’re trying to be a hedge fund, I thought, it should try its best for the share (wmemo) holders, not the ones who want to exit.
How will reducing the treasury benefit the long term holders ?
Why “hypothetical” speculators ? Isn’t it clear enough that market manipulation has been going on since january ? At this point the backing price is insignificant for long term holders, it can benefit only those who bought the dip.
@ruffish & @M_Materia as an FYI, I edited/deleted the '“triggered” stuff and messages that were not relevant to the post.
Thank you for keeping it somewhat civil.
If rage quit happens, then it better be based on a snapshot from the day Wmemo went below backing. That would be ridiculous if it isn’t
People complaining about rage quit and complaining for their own selfish reasons bec they believe it’s gonna take “their “ treasury Away . This was a massive mislead to investors and those who want out should be offered the chance at a price they existed before this news was spread about sifu.
This sounds genius! Can anyone come up with a downside? If not, can we add it?
Also suddenly we are a dao? Every decision that’s been made has been made by management, now suddenly when it comes to giving people a fair exit , suddenly it needs a vote . These scammers are doing all they can to hold onto that money and not let it walk. I thought dani had morals which is why I got involved in this but looks to me like this is about money plain and simple . Rage quit for holders who were holding up to the minute the sifu news broke. No reason to rage quit people who bought after they already knew the information! Me personally, I lose either way because my rage quit has to goto make whole a family member I convinced to put money into wonderland because I believed dani was doing the right thing .
Fully agree on points 1, 2 and 3.
Point 4: Increased APY multiplier doesn’t make sense. Get tokens (wMEMO) instead. Whatever the ragequitters are getting, let’s get 10% more in wMEMO tokens.
Point3. Burning and decreasing supply may not increase the price of wMEMO. Fresh buying demand could do so. I am not a fan of burn, we can instead use those to stake in LP to increase the depth of the pool
My proposal:
Lock the trading pool 24 hrs before the rage-quit is implemented.
Option-1: Rage quitter will redeem the token at backing price. Say the price of wMEMO when the LP was closed was 26000 and the backing price is 35000, the quitters will get 35,000 and they get out
Option-2: People who are staying back will get an (35000-26000)=$9000 worth wMEMO at backing price. Alog with this I would propose an additional loyalty bonus of say $1000 worth of wMEMO to be given.
And maybe just to spice things up, the additional $10,000 worth of wMEMO may be locked and vested in next 10 weeks linearly
IMO, this model will give value to both people who want to exit as well as people who stay back
Yes, it was promised at the time. It was in writing. I term that a contract. People who don’t take that seriously will discover how complicated life can become if they don’t make investors good.
Sorry, I meant 11th January which is when the Sifu message was first published. I will go back and correct my entries.
If you want to rage quit, sell your wMEMO. You are not entitled to use the treasury as exit liquidity.
I understand, tried to keep it chill, saying I don’t want to argue, but had to draw a line when it turned to petty arguing lol.
Im voting NO! We have done vote before few days and now they propose that? That is bad decision and the comunity showed what they want. The vote said NO to the Wind Down and NO to the Rage Quit Option! If someone want to go away from the project he can unstake and get his money back its simple. Why do we need to make the same and same vote over and over again? The comunity said NO!
It’s beneficial to us long term holders man.
Take a read and lemme know what you think.
Yes, I think it was 11 January
Surely, the people who want to rage quit are few.
Taking a vote of this makes no sense.
Now, the people who want to rage quit are all not whales and sharks as called by many in this forum.
Most people are just frustrated enough to hold this anymore.they just want to quit.
Imagine holding from ath to now. And all they asking is “their share of treasury” at “atl”.
I don’t know what scares everyone if i want to redeem my share of treasury instead dumping this on market.
For the people saying no to rage quit I just want to say one thing - not everyone’s financial situation Is same as you.stop being selfish and let the rage quit happen for mutual benefit.
Imagine people buying after sifugate,(whales as u call it).
what will they do if no rage quit is offered?
Dump on the market which will will drive price even further down…
more people will be shaken out there and they buy more there.
Will u complain then too ? When you’re the reason who forced them do it.?
This is the way market works and is cruel tbh,but it is what it is.
Conclusion -
Rage quit is for the benefit of everyone.
Let the people who want to leave,just leave.
they not taking away you’re money anyways.
The wmemo will be burnt + wonderland will be free or weak hands.
Can we add another section:
Eligibility for whitelist
Wallet must have bought in prior to Jan 28th.
Can only RQ wMEMO to the value of that purchased prior to Jan 28th.
No wMEMO bought below backing will be eligible for RQ.