I thought I would use my first post to reply to you fren,
But firstly, please excuse me if what I write just won’t work or is simply stupid, I won’t be offended.
So, I had an idea a while back that with DeFi everyone wants control of their money and not having to deal with the financial institutions of old.
What will seem reasonable or a good idea, will undoubtably be the total opposite for others.
With this in mind, and from spending probably far too much time on reddit, I have seen the following:
Some people don’t understand the compounding interest and why you should apply this to the amount of TIME you gain, not the financial element of it.
Some people panic with even the slightest drop or a good gain.
Some people are investing money they really can’t afford to lose, which if that’s what they want to do then fine, we have no control over what an individual does with their money.
Some people heavily believe in the Wonderland project and the eco-system and on the other hand some don’t.
Some people don’t fully realise that pulling rebase rewards out stops your compounding ontop of that rebase.
Lastly, and something I will only go over briefly, looping MIM, there just seems to be a lot of confusion.
Typically and somewhat more bluntly, we have what seems to be a couple of groups of people, and please anyone reading this I am not trying to cause offence, but we have the clueless, the clued and the clued up.
So, now I have mentioned problems, how do we solve them?
As I mentioned earlier and in what is also my personal opinion, I should be able to do whatever I want with my money and I don’t want regulations or rules telling me otherwise, I should be able to make my own choices - the key word here being ‘choices’
Let’s suppose for a second that we have 2 individuals that are invested in Wonderland. Person A wants to buy in now and hold, whereas Person B is nervous and will make decisions based on a whim. How do we appease both but still make Wonderland an attractive proposition?
OP I like your idea of a Rebase Booster, but let’s try something additional to that.
Person A wants to hold, we know that… so let’s offer him the opportunity to voluntarily lock his staked TIME for a 1 year period. He will automatically qualify for a higher rebase or rebase booster in recognition of him locking his tokens in. If he then wants to add additional TIME to his existing balance again there is a choice for him, he can add it to his already locked in balance or keep it outside of this and do as he pleases.
Now Person A wants to wrap his MEMO into wMEMO and borrow MIM, well no problem, he will still benefit from the higher rebase reward or the rebase booster as he has locked in TIME. If he wants to loop MIM back into TIME, this process could be automated so it adds the additional tokens into the locked total.
Whether the rebasing stops and the reward method changes , Person A will automatically receive a higher amount. Person A is already holding long term as he believes in the project so probably won’t be too worried about a change in the reward system coming into play.
However, as a caveat let’s say Person A doesn’t like the change in rewarding, he should be given a clear window of opportunity to withdraw from the locking as this is a change from the original inception of the process. I feel that this could be likened to a cell phone contract, where there is a price change that is out of scope for the contract, you are given 30 days to either stay on the new price plan or change provider, even though your only part way through your existing contract, if that makes sense.
If Person A does decide to exit the lock due to this, at the point where he exits, his collateral is automatically moved outside of the higher rebase reward/booster tier.
This still leaves us with Person B, let’s say this person is new to crypto and either has doubts about the project, maybe just wants to test the project out or really just wants to make a profit and run.
Well, Person B isn’t going to lock in any amount whatsoever nor he is even going to entertain it. Well the question now is, we have satisfied Person A as someone who is willing to see out the project over the long term, how do we appease person B and keep him interested?
This is fairly simple, when Person B invests in TIME, then stakes it, he will still benefit from a good APY and also a good rebase rate but Person B can exit whenever he chooses to, just like we all can at the moment. Maybe he wants to go and get rugged with another project haha! or panics when the price tanks and wants out before he loses any gains.
It is nigh on impossible to appease everyone in every scenario, but I do agree that early investors and long term holders should be rewarded in someway, but people who either don’t want to get in early or hold shouldn’t feel like they have missed out and therefore we lose them to a different project.
I read another post on here from a member saying that it should be up to them as to what they do with their money or investments and that’s totally right. The same can be said if I had no choice but to lock my TIME for a year, would I risk it? Who is Wonderland to tell me what to do with my finances? However, give me a choice, a voluntary choice, well now this changes things. I might feel more inclined to do it now because the decision is now up to me as an individual, there is an additional reward mechanism in place if I do and if I am looking at it, then I must clearly be interested or intrigued in it.
Just a thought 