Option 4: Burn 50% of the liquidated funds immediately to spike the price plus get some buzz, then burn the remaining 50% gradually over the following 3 months at set intervals.
26 Likes
Option 1 and Option 2!
4 Likes
DO NOTHING
Keep doing what’s being done
4 Likes
Since buybacks below Backing per wMEMO create a net “profit” for Treasury, I could support burning that “profit” amount as a way to ‘redistribute’ that value to all wMEMO holders. Generally the buybacks make me uncomfortable because we are spending precious Treasury and reducing available resources to make new, profitable VC investments. We better be getting a bargain.
2 Likes
Well said.
I Like Option 4!
Burn 50% now, and the rest gradually.
3 Likes
I agree with a burn, most likely option 2 or 4. However, something else to consider in addition:
There is clearly a lot of price manipulation going on as people try to increase their ownership % by sidestepping the spikes, thus causing the price to continually fall back to near backing price where the sidesteppers get back in. This may resolve itself at a future date when those people feel satisfied with their ownership / get tired of selling. However, my concern is the committed holders (particularly buyers at the ATH) that have done 3,3 all the way down without ever sidestepping / selling. Those accounts are contuinually losing their % of ownership due to those who keep manipulating the protocol. As it stands, loyalty is being punished and those accounts are comparitively worse off day by day.
As a result of this, I am concerned that when a price increase comes in the future, whether through the start of revenue share, the CEX listing or a burn such as is proposed here, those same accounts that have been committed so far may feel the need to also sidestep (or cash out entirely) to recover their large lossess, and thereby tank the price so that we’re back to square one. This is not sustainable.
A potential solution to this, therefore, is to reward those committed holders with a wMemo airdrop of an agreed amount, to relieve their pressure to sell during a price increase. It does not need to be a large airdrop, but at least enough to offset the loss of ownership % that they are experiencing due to those who are manipulating the market. Once this has been done, I think we would be on more secure ground, and not only that, it would show that commitment is rewarded. This, I think, would create a more secure foundation for a burn to occur. And whilst some people will still likely sell upon a price increase, it may make a substantial amount of committed holders remain in the protocol and provide some stability.
So, my preference would be a small % of liquidations to be allocated to those holders, with a remainding percentage to then be burned as per one of the options.
tl;dr: Airdrop a percentage to loyal holders, then burn the remainding amount.
44 Likes
Think people like this one the most. Maybe we should make it Option 1. The buzz about the burn could support price.
4 Likes
Should be good to burn all token buy with the backing price ! Less suply !
I vote for the burn as soon as possible. Not later or else this project will be at the price range of dao while having the strongest treasury
1 Like
Both Options 1 and 2
More burn = more buying power for the frogs
2 Likes
Dilution has stopped now as new $Time is not being minted. What remains is inflation of $Time but that’s like stock-split, doesn’t matter. On the other hand wMemo is already capped, so what’s this dilution you talk about?
2 Likes
Agreed with the proposal.
Let’s move it forward asap.
1 Like
This is so bad idea.
It would be much better to sell them later on in the form of non-dilutive bonds to gain more treasury.
8 Likes
I would suggest to combine Option 1 and 2, if that would be possible and best for the protocol. Thank you.
2 Likes
This proposal is written before sifu stops the new mint. We dont have dilution now.
Yeah option 4 burn 50% now and then slowly burn.
4 Likes
I really like the option 4 as well. Would like to hear dani thoughts
3 Likes
Burn all buybacks, regardless wMemo total supply , burning of all buybacks will cause price of wMemo to recover quickly after dips. If burning exceeds minting wMemo becomes deflationary.
1 Like