uhhhhh… you can only be a maximum of 100% down, which takes you to 0.
I agree with the rage quite option. We have too many people that feel like they are trapped in Wonderland. All they do is spread FUD and vote against the favor of long term growth… Anything to make a quick buck now and get out. I think these people being trapped in are more harmful to wonderland than giving them an out and retaining long term investors. I will vote “yes” because Wonderland needs to move forward… being a DAO means we are all voting on future decisions. It’s better to have as close to a unified vision on the way forward, and having these people around will not let that happen.
1 Like
So my answer is NO. I believe using the funds to restore the price to it’s $9000-ish price for the next bull run is the most productive thing you can do for both old and new investors and also for the long-term of the project.
4 Likes
I think to make this process simple and allow all users to properly figure out the economics of staying or rage quitting:
Consolidate positions:
Small positions like WTBC, SUSHI, and all smaller positions etc should be traded into what there’s a larger position (such as AVAX).
Remove the LP Pools for MIM/AVAX.
Have a simple portfolio of 6 names for claiming:
UST
MIM
USDT or USDC
AVAX
WETH
CONVEX
Clarity on claiming portfolio (as per above) per WMEMO would be helpful.
1 Like
So what happens if i hold my wmemo? will i lose my money or…???
Also, when will the voting start?
Absolutely my thoughts on this. Hard to believe so many are being duped by this. There was a snapshot for the airdrop and should be for rage quit. The whales, most likely including Sifu, are all going to dump at backing after buying way below while plundering the treasury. I get it, buybacks WERE promised, but those of us that are down by 70-80% should have priority in this situation. We need the treasury to be max to get close to where we were.
1 Like
That’s what they want us to think. I think less of the whales would sell if they don’t get what they want here. They bought this crash planning to do just this, sell for backing. If we don’t let it happen they will have to put some resources into raising the price another way. Mabey buying more. Or other ways to bring up the price. A snapshot of holders just before the big crash would be fair because buyback WAS promised, but this is just allowing whales to suck the treasury.
1 Like
Rage quit does not affect revenue share, here’s how:
For example,
There are 17250 WMEMO in circulation, and for example lets say 100 thousand holders.
Say you own 0.1 wmemo and another person owns 2.5 wmemo.
The current treasury value is $764 million.
and lets say the current daily profit from treasury is 764 thousand a day (for example)
That means you own 0.0005797101449275362% of the treasury.
and it’s worth $4428.985507246377
and $4.428985507246377 of the daily profit.
and the other person owns 0.014492753623188406% of the treasury.
and it’s worth $110724.63768115942
and $110.72463768115942 of the daily profit.
this means you will receive your % of 764 thousand.
so 0.0005797101449275362% of 764 thousand in your case.
and 0.014492753623188406% in the other person’s case.
if 20% of 100 thousand holders rage quit. and lets say they owned 30% of treasury
that leaves 534 million treasury and 75 thousand holders.
therefor the profit per day goes down to 534 thousand a day.
and wmemo in circulation goes down by from 17250 to 12,075.
now your % of treasury that you own is increased.
as now your 0.1 wmemo is 0.0008293980350648646% of the treasury.
and it’s worth $4428.985507246377
and you will receive 0.0008293980350648646% of the now 534 thousand
a daily profit equal to $4.428985507246376 a day.
and now the other person’s 2.5 wmemo is 0.020734950876621614% of the treasury.
and its worth $110724.63768115942
and they will receive 0.020734950876621614% of the now 534 thousand.
a daily profit equal to $110.72463768115942 a day.
3 Likes
Reason to vote YES on Rage Quit Vote
Yield is unaffected here’s how.
For example:
Say we have 1 Billion Treasury with 1000 holders.
and a 1 Million a day profit.
This is equal to 1000 a day per holder
After Rage Quit 250 of the 1000 holders leave.
This would leave us with 750 Million Treasury and 750 Holders.
and a 750 thousand a day profit.
This is equal to 1000 a day per holder.
The same % as before per holder.
You will actually receive more revenue share after rage quit due to more High ROI opportunities.
It’s easier to gain more ROI on less total treasury.
Let me explain…
So imagine you have 2000 treasury and 20 Holders. each having a 100 share.
and there is a Yield farm that has a token limit, which allows us to put 500 worth in.
With a 2000 treasury that is only 25% of the treasury allowing us to only make the higher yield on 25% of our investment.
Imagine half rage quit, we are left with 1000 treasury and 10 holders, each still with 100 share.
Now we can put 50% of our treasury in making a higher yield from a bigger % of the treasury. Meaning Higher ROI and more revenue share for the holders.
NO DISADVANTAGE. Not to mention the bigger proportion of the 400 million BSGG tokens we will receive each if we kick the paper hands out.
This will also eliminate all the selling pressure from those who want to rage quit keeping the price from going up organically. This benefits everyone. Vote with your heads.
Even if people arb (which will be minimal) the price of wmemo will be pushed up passed backing from heavy buying pressure. and the rage quit eliminates all selling pressure from this price action.
1 Like
I will just say no to rage quit
2 Likes
- YES, add me to the whitelist
Definitely. I don’t see how anyone can make a choice to quit or stay without understanding Wonderland’s plans.
People who want to exit right now can do so by selling their wMemo on the market. Why not do that?
I’m sorry that people lost money because the peg failed and their high risk positions were wrecked. I know that many felt that they had set a “safe” ratio, but leverage is inherently not safe. You are investing money that you don’t have. That is the definition of high risk.
I am among those whose holdings collapsed in value due to the liquidation cascade and everything that followed. I did not leverage, but, in many ways, I was forced to share other peoples’ risk (and losses) due to the overuse of leverage in this protocol. So I don’t think that they is just one set of victims in this story who need to be made whole. Wonderland was always a high risk investment. Crypto is generally high risk asset class and Wonderland is high risk within that.
Let’s just focus on getting a new plan in place.
6 Likes
That would be a no vote from me. The way I see it this would only benefit the ones that recently bought in exactly for this purpose and make a quick buck in the process.
If they want out they should sell like they normally would.
I say hold and give Dani a shot to put us back on track again.
No rage or other quitting.
3 Likes
Why burning wmemo token purchased using treasury funds for RQ is the only guarantee of raised value to holders! This detail should be clearly spelled out in the vote!
As stated the RQ option does a few things;
a. it uses treasury funds at an above market price to buyback tokens.
b. it pulls all liquidity from the market effectively stopping trading during the buyback (RQ).
c. it allows all wmemo holders who whitelist their address to participate in the RQ without the commitment to do so.
d. after the RQ and 24 hours the market is “turned on” again by providing liquidity.
The scenario after RQ could be that when trading is resumed those who RQ buy back in at a lower price thereby securing a larger portion of a smaller treasury. It is an assumption that those who RQ will stay out, thereby giving holders a larger portion of a smaller treasury.
It is also an assumption that the price when trading resumes will rise after RQ if tokens aren’t burned.
The only way to guarantee the promise to holders that their held portions of the treasury will be larger than before the RQ is to burn the redeemed RQ tokens. Then those who want to buy back in have to acquire non-burned tokens that are part of a reduced pool of total tokens since the treasury procured ones have been burned. Prices would of course be subject to the market but at least the holders know they own more of it.
3 Likes
Yeah, but buyback was just a promise of action. There was never a guarantee that it would succeed. We don’t know what would have happened.
Buyback was promised, but there was never a guarantee that buyback would work.
People seem to feel like the cascade could have been stopped. Maybe, but maybe not. The price of wMemo was attacked by whales and we don’t know how much selling power they were ready to pour into the attack.
We might have still ended up exactly here even if Wonderland team had implemented buybacks faster. Further, what if Wonderland had burned up a third of the treasury in buybacks to protect the subset of holders that chose to use leverage. Would that have been fair to those that tried to support the project by staking only?
The root cause of this whole situation was a capital structure that had deep underlying vulnerabilities and culture that encouraged doubling down on those. The failure to be on top of buybacks was just the trigger.
This rage quit just seems to set up ways for arbitrage to allow traders to keep making money off those that want Wonderland to succeed.
I’m voting no.
I want the team to focus solely on putting a plan and new management in place. People can enter and exit at any time at the market price.
7 Likes
This is the way, no question. The only thing I would add is that the vote should be based on the BSGG snapshot. That insures we capture the core WL community before all the drama which created this mess.
4 Likes
That is a great idea. They could increase all wMEMO holdings for people who don’t RQ by 20% before turning the liquidity pool back on. This could even be tied to a lock in period, say, where you can lock up your tokens for a period to get a better increase in wMEMO.
It would give some extra value to staying in the project vs arbitraging an exit and reentry.
1 Like
I plan to support rage quit but i will not be quitting. The rage quit option will boost the floor and boost the slippage for remaining holders. Treasury is not selling below backing which means that new buyers can only buy from willing sellers (holders) this means that new buyers will buy the difference of where the next sell is offered.
So if a buyer posts a limit order to buy at say wmemo 34000 (below rage quit price) but the next sell limit order is say wmemo 50,000 then his order does not get filled. If backing price is say wmemo 45000 then treasury is also not filling that order.
Their will be random sells people make along the day that people dump at market value for passive but buy orders filling those orders on new supply pay a high slippage (may as well call it tax) low liquidity and high demand means if you buy you will pay more for less.
Now once we get past RQ expect new innovations and a team to come on board which will drive demand. If revenue share is finally enacted, expect a demand drive which will be buying into high slippage.
As i have said, rage quitters remove low level sell walls. If we do not allow the rage quitters to sell into a liquid market and reestablish a new floor then holders will continue to see wmemo trade within current range because their isnt enough demand and liquidity at present to clear the current sell wall.
RQ is the right option for long term holders as you will see an immediate bump in your wmemo holding value. And if RQers were to then buy back into the market this actually “helps us” because they will be again buying from you the holder at illiquid levels which means the price to purchase goes higher and higher with each buy.
This becomes an added victory if treasury burns its Wmemo because then the treasury is no longer competing with holders and all buy activity will have to come from a willing seller.
7 Likes