Wonderland is a great project with a treasury that is earning great yield and has held up in value very well thanks to responsible treasury management and stablecoin farming from wSifu.
There are some dedicated frogs who bought at or near all-time highs (~$165k wMEMO value) and have held through wMEMO at ~$47k. These frogs have held through turbulent times for months and helped grow the protocol in its infancy; it is painful to know that people can now get over 3x the wMEMO tokens for what they paid.
I propose that we use some of the recent wMEMO that was purchased by the treasury below 50k to airdrop to these loyal token holders. This would reward loyal holders and also encourage people to hold their wMEMO during periods of volatility in the future.
The variables that would need to be decided are:
- At what purchase prices would someone be eligible?
- What time periods would someone have had to hold to be eligible?
- How much wMEMO should be awarded?
Here’s what I propose:
- This can be a sliding scale: those who bought at a price above $150k would get more wMEMO than those who bought between $125k-$150k wMEMO.
- We take a snapshot of people who owned as of Dec 1 and still hold as of Jan 31.
- I don’t have a good gauge of what should be offered; but I imagine we could use some fraction of the wMEMO that the treasury bought back below $50k and burn the rest.
The downside of this is it would slightly dilute other wMEMO holders, but I imagine it would be minimal. The team should run the numbers to decide what the right balance is. Again, this will encourage people to hold through volatility which will make Wonderland even stronger.
