We need this. WE NEED THIS.
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Indeed we need to pass this ASAP
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Exactly, otherwise whales will keep dumping and treasury will keep pumping, we will be left with nothing.
Whales don’t wait for long , they come and go.
As a matter of the technique working, it’s already proven to work by the other protocol that has done it already. Thing is they do it for the long-term ( keeping taxes ), but we should do it just to get out of this slump, so to speak.
Implement airdrop to long term holders. Reward people for holding, implement sell tax and distribute fees to hodlers.
Once people get incentives for holding, they won’t sell.
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Agree with these taxes.
Hector DAO also introduced a similar measure with HIP-007:
HIP-007 introduced a warmup period of 3 rebases for newly staked tokens.
…From this point onwards, staked tokens will be locked for 3 rebases (24 hours) before they can be claimed. During this period, it is possible to forfeit staking without rebase rewards.
DCIP also has similar taxes:
10% Standard Tax
-3% Liquidity
-1% Marketing Wallet
-2% Community Investment Wallet
-2% Burned
-2% Redistributed to holders who hold longer than 24 hours*
7% Punishment Tax
-Swaps within 24 hours:
-4% Community investment wallet
-1% Burned
-2% Redistributed to holders who hold longer
than 24 hours
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Exactly, people need a reason to hold and not sell.
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Honestly our treasury is draining, this is sad.
Will buy tax help the protocol, like will it not stop people from buying ?
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I agree but no need for buy tax!
There is already a similar proposal here High transaction fees for unstaking early but my issue is:
- can the devs implement this?
- how long will it take?
Yes please. Stop the bleeding. Long term or go home.
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We longer are a staking model, wmemo auto stakes . Thanks for the poll idea, I updated it.
Whales swing trading wMEMO can buy it on Sushi. Or they can buy TIME on trader joe. They don’t go to the web site to stake.
You would need to change the contracts to implement this. That would mean everyone having to be air dropped the new tokens. Logistically, it would be tricky to cover everyone on the multiple networks wMEMO / TIME are present on, and handle wMEMO which is lent as collateral or in LP in various places.
I doubt it would ever happen.
What would happen to the price between the time you made this announcement and, month(s) later, when it was implemented?
Sifu is clearly against the locking period, as would I be. But this is gettin too much I might get an heart attack 
just until stabilisation
I totally agree with locking period but ur tax vanishes after holding for a month or something along these lines. Or we can also do that the holder we hold we get 1/2% higher roi? Meh probably not the best idea but might entice someone’s mind.
Titano Finance already did this and works amazing for them.
Apply this taxation for a certain range about the backing price in a way that it won’t be profitable for whales to buy below backing price and dump when it reaches above it.
I will support this if it can stabilize the price now
I followed the Tax implementation on Midas Dao and it did not really had the expected impact as the big wales don’t really care about the Tax as it is still peanuts for them. We will still see this huge amount withdraws and the small guys are still suffering.
I think it is better if we fix our investment to time periods such us 3,6,12month, with this kind of system we will see a real growth of the treasury, wMemo and APY.
Buying tax will benefit long term holders. That buy in tax will be redistributed to towards you the holder. It would hurt these whale bots and weak hands. I would even advocate to implement an idea called Time lapse incentive. Meaning, for every transaction(s) you make you’ll be able to see the fees accruing in a separate section called The Time Capsule. In short it, would be a rebate of all the fees taken for every transaction that would be available to claim every 14 days. Those rebates would also rebase so no one is losing out on rebasing events.