Definitely not, RQ should be reserved for early buyers. I think the first big drop was Jan 14 and before Sifu news.
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You need to specify dates here, so that everybody know which time frame you mean. I consider that all older holders should be eligible for RQ as a buyback was promised and then disappeared.
Clearly some who jumped in after the plunge would love a RQ, but to was not promised to them. Much depends on how the proposal is formulated when it is re-written. It need to be written more clearly and stipulate burning and the date before which tokens were bought. It also needs to stipulate that MEMO holders as well as wMEMO holders will be covered. At the moment it is very ‘wooly’ without clarity.
We need to be clear about dates. There was a big dump on Jan 10 and a huge spike on Jan 12. What were those events?
That’s actually not true because revenue share is based on wmemo owned. They could only try to repurchase the wmemo that is on sale.
Say if due to the rage quit 4000 wmemo is taken out of circulation, meaning there is less total share.
After this there will only be a very limited amount of wmemo even on sale.
So there will be huge amounts of money outing in trying to buy a small amount of wmemo drastically pushing the price per wmemo up.
And only the first people trying to buy back in lower will even be able to try to get a larger share. Many who try will be left with way less share.
Anyone who tries that is just playing a risky game and can end up with less revenue share for the next stage of wonderland into the long term.
What makes you think that things will moon by letting some combination of frustrated hodlers and arb whales walk off with treasury returns that are effectively subsidized by everyone else?
Because if someone receives a wMemo payout that is higher than the market value of the wMemo, then it is effectively a subsidy at the expense of others. If I own shares in Apple, I own a portion for their future cash flows. I can’t trade in my shares and demand my proportional percentage of next year’s revenues. I can sell my ownership rights on the market to whomever wants to buy them. Why should this be any different?
Show me a clear plan with a team in place for how the treasury will be managed and then maybe I’ll think about it differently.
But I don’t think that we should be talking about RQ until then. And, yes, I lost a lot of value in Wonderland because the peg wasn’t defended AND because many other holders chose to leverage which created a high risk capital structure for EVERYONE. So there are at least two reasons why value collapsed.
And, finally, there was a promise to implement buybacks. There was never a guarantee that it would have been successful.
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A few thoughts:
Anyone that treated the negative price action as an arb opportunity took the risk of not being rewarded and I think we shouldn’t reward them with a rage quit option. They should ride out the chop with us and, once the ship is stabilized, they can see if they want to stick around i.e. act like investors and not the maniac that crosses three lanes of traffic at 80mph, leaving trauma in their wake.
To this end, after this vote goes down (I hope), and after the other great ideas about treasury management are proposed, IMHO trading of wMEMO should be/remain frozen until the treasury folks advise the community it is time to come out of Chapter 11. The project should be healthier and able to withstand any selling pressure. Hopefully the price will also be up so win for the sellers and win for the HODLers. Not the spirit of capitalism, you say?, well, it’s crypto, isn’t it. Lots of shit goes down that is outside the norm.
My two cents.
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you percent of treasury actually grows… you lose nothing but only gain… we converge to backing and then are left with only people that want to stay… ints a win for everyone… weird most people think they will lose something but not true
This is going to end badly if rage quit is approved. It will essential wind down wonderland. I am voting “no” but if approved I will take advantage of it.
This was the last straw. I sold my wMEMO on the open market.
I am not happy with rage quit options because it allows people who brought under the backing price to gain from the arb position once brought at the backing price.
So you sold below backing because you’re angry about other people potentially making money…?
Daniele says on Twitter all rage quitted wmemo is burned.
It’s now confirmed for all of you that needed to hear that.
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While it’s true he said that, I would recommend not taking everything Dani says on Twitter as “official” and 100%.
He also suggested the buybacks would be burned in the past and they are sitting in the treasury.
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Correct, I sold because of I am pissed at the bad management and this was the final straw.
When can we vote doe??
Italian tomorrow according to Dani.
At the end of the day, buying back the Wmemo tokens and burning them from the rage quit option will help WL in the long run. Once we build steam and the treasury again and trust it regained, there will be far less wmemo in circulation, thus increasing the price.
However, snapshot for rage quit eligibility needs to be before the price went below backing!!!
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No I don’t think this is a good proposal only good for the whales
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point 1. The snapshot needs to be well before the SIFU vote, there must have been some leakage before he was made public
2. TIME also had a backing price when i first got in, will that be honoured?
3. if it is, i would love that, i can cash out, and buy in for far more than i have now. if as suggested i can only cash out the portion of token i had at that time. I held around 2.25 when backing price was above $6k, that is $13000, i would love that.
4. are we only cashing out the WHALES? Will they be the only ones to make a fooking killing here?
5. Why are we cashing out speculative buyers (SIFUGATE) just so they can deplete the treasury?
6. Why are we cashing anyone out, just because it has falen below backing price? Look at other DAO’s, has it happened before?
My point here is WHY? Why should we, why should the DAO offer losers the cash out option? Everyone here must have made a bad investment, everyone here must have made a loss, if you haven’t, you are probably unique, but stay with this project and you are almost guaranteed to win,. DO NOT ALLOW PEOPLE TO CASH OUT ON A LOSING SPECULATIVE GAMBLE.
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I suggest u to read again.
You only took the “selfish” term seriously and didn’t cared of other possibilities stated.
Anyways, markets dont work as we want them to always.and the stack accumulated by the whales is ready to be nuked if rage quit excludes wallets after sifugate.
So more pain for poor frogs…imagine who will buy then .surely the one who is interested in the treasury.and if you call out that no one after sifugate is eligible for ragequit.no one buys this shit as simple as that.
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I think you will find, that all or most of the whales bought in, voted, then cashed out, further dropping the price for more whales to buy in, vote and get out, repeat, that is why the price is so low.
So, when did you buy in CRYPTO_SHEPHERD?
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