rebase good for fund raising when sentiments are good tho
I briefly covered this concern, and I agree, but right now sentiments are shaky, and I believe that even if sentiments were good that the temporary influx of capital would be outweighed by people later on feeling as if their trust has been violated. Ultimately fund raising is not an especially large concern at this stage of the DAO. The treasury’s coffers are filled, and more than enough funding is stored to participate in a variety of seed level projects all over the crypto world-the main goal of the DAO’s investments.
You only put 2 options!!?? I say dont bring rebase rewards back at all!
Ditch the rebase and I’m out.
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I never specified how fast we had to phase them out, specifics can be determined before proposal phase. Just in general if people want to drop the Rebase system at all
100% agree with this proposal. However, I think there should be a massive education campaign before ending rebases.
Many people don’t understand how rebases work. They falsely believe they are earning something every rebase rather than what’s actually happening (losing value to inflation). It’s a nice gimmick to get people in the door but with the treasury earning 1mil per day (which will be compounded), we don’t need to inflate $time to attract more funds.
Instead, Revenue share is the way. Wmemo only has value if it actually earns external rewards and generates income for its owner. Otherwise, it’s just speculation and hoping the price of $Time will go up. Wen moon? Never… because inflation prevents it. Instead, kill rebase and move to rev share.
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I mean this is already the plan as far as we know.
We’re just waiting on the rev share proposal to see how it’s planned to work and then we vote on it.
If there are other people like @Rain either get out now or be ready to leave because it’s always been part of the plan to remove the rebase at one point.
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This is my exact sentiments. Unfortunately I think we will be losing a lot of investors when and if we drop rebases, but I think the short term loss is more than worth it for the long term sustainability
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They have said that rebases will continue alongside revshare, and there is no reason to stop rebase emissions. And Im glad to see that you are open to losing some investors, such as rain, in the case of rebase ending.
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Well Dani said from the start the APY/rebase was only to bootstrap money.
It is true that Sifu did say there was no plan to end it and it would go along rev share. However, I believe that was meant for the short term and not long term.
That was my assumption anyway, I don’t think they ever mentioned that directly. The switch to wMEMO makes even more sense to stop the rebase since we don’t need wMEMO to rebase if the point is to track it’s price and slowly “discontinue” MEMO/TIME.
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Well either way this proposal is about cutting rebases as soon as possible, so regardless of what existing plans are I would motion for a more short term phase out of Rebases as I feel every day they are kept is detrimental to the DAO.
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The idea that I could hold a lot of time in the future, while other people sell off or get liquidated, is the value.
I agree 69,825.7 percent with you. It’s crazy so few people know about how this works, and about the investments that will actually bring in income. I don’t think you can get rid of the rebase until people get more informed.
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You love to see it. But yeah I mostly agree with you, that big number on website is unfortunately p important to a lot of people. a good place to start would be the education campaign suggested under another topic here on the forum.
I have mixed feelings… having rebases or not doesn’t make a difference.
However rebases have two opposite effects:
- Attract people
- Backslash because price of TIME naturally go down and many invested without understanding the point
In some Way rebases are milking money from non educated people which enter for the APY and panic when they see price going down.
It’s not really ethical but a lot has been done to educate (e.g. the move to WMEMO)… so many want to pursue the lambo dream and like to watch the APY, shall we let them dream? Maybe yes
I can’t believe how retarded I am. I went into the whole APY-thing and calculated expecting to basically financially free in one year time based on the 68K% APY and the value of the token dropping about 50%.
I think most people who got into this do not even know what they have invested in tbh. Just take a peep at the discord and you will see based on the questions people are asking.
Removing the rebases will scare away most of these investors as they do not see the value they are getting then. I would say keep the rebases and let people keep dreaming so they keep holding their tokens.
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In the long run rebases only hurt the reputation of the DAO. The short term gain from luring in new investors is completely lost when they find out that rebases mean nothing. Hence all the rug talk. It makes us all the more vulnerable to bad actors.
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Agreed, time to begin to phase out rebases and shift to the revenue share model. I would recommend not beginning phase out until revenue share is in place.
Rebases of Wmemo will naturally lower in apy because wrapped memo = staked. Staked means lower apy which will naturally lower the rebases. The rebases helps the smaller holders to reach a goal us middle and higher end holders have already attained which is a degree of financial freedom.
Rebases also helps everyone as Wmemo price gets pushed higher thereby moving people further away from their liquidation level. If you borrow for passive this benefits you, if you leverage, this benefits you. I am sure the majority borrow MIM based on how fast the MiM disappears during good market conditions. The rebases keep the market healthy and helps move the price up in good markets.
Mints which are dillutive are turned off which helps because it doesnt creat new supply that gets sold into the market dilluting holders market share of the asset.
A combination of profit sharing and rebasing along with acheiving 100% of wallets Wrapped will help the apy meet a healthy level.
Profit sharing will require everyone to Wrap in order to participate this will lead to 100% staked. This will naturally lower apy without developer intervention. Profit sharing will also bring back whales who see a value proposition which will bring price elevation to the token, all of this will restore previous levels of price action.
In the recently published roadmap they said " Remember, this new change does not affect rebases. Rebases continue to occur since they are considered non dilutive inflation!". My question is if minting has stopped where are the rebase tokens that are increasing my memo balance coming from. It would help if they clearly outline the mint mechanism because I am sure I am not the only one confused with the “New model”.