Are you guys TRYING to kill this project Wmemo - SPELL? not trying to be toxic because there may be things about this that im just not understand that would actually benefit wonderland but from my understanding of this proposal i think this is the stupidest idea you guys can make right now and all hope will be lost FOCUS ON THE FUCKING FUNDAMENTALS OF THIS PROJECT RATHER THAN ANOTHER MERGE OR BRIDGE OR MORE STEPS LIKE FUCK DUDE
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Couldn’t Popsicle be part of this equation ? I mean, wouldn’t it make even more sense?
Okay look at this way, they’re seemingly saying Abra will acquire Wonderland (unless I’m missing something). Wonderland has a treasury of ~700 million dollars, our valuation as a company should be then ~7 Billion dollars. Can Abra buy out Wonderland? I don’t think so.
Your calculation is surprising. If wonderland would have 700 million dollars profit annually then you might be correct. Otherwise, I could just open a company, put in 1000 dollars and four months later sell the company for 10,000dollars. I don’t think so.
Dani and Sifu you dissapointed the frog nation with your weird tactics and cashouts of mim. Im done here. Scammers.
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This makes absolutely ZERO sense to let our community be bought out by Spell. If you choose to go along with this without thinking through the consequences, then I honestly do not know what to say.
Points of Contention:
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Time founders only hold 5% of the project while spell founders hold 30% . We would essentially be gifting Dani and Sifu $240,000,000 just by agreeing to send our treasury over to Spell
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Time earns compounding interest. Spell does not and we would also be paid at a much lower APY
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Time generates more money per day than Spell. Sifu himself said 1M per day for our treasury (probably 600-700k with the market down) vs. spell who just made their first profit ever last week for 140k
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Merging with spell would increase the number of holders, meaning the same VC would be split amongst more people → Less rewards per person, more time to recover just our initial investments
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If we wanted invest in spell, we would have done so back in October/November when we invested into Time. If we had done so we would have a much larger bag than what is being proposed now.
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Speaking of proposed now, mergers usually require a PREMIUM price for being bought out. Why would we EVER except fair market value price for time?? Instead of 40k wmemo it should be 100+k wMemo.
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This will only lengthen the time to recoup long term holders initial investments. For example, I myself invested ~12k into time wonderland that is currently worth about 4k. When Sifu said that 1wmemo would pay out ~2k, I was looking at $200/month or about 2-3 years to make back my initial investment (assuming price stayed the same). Now we we would be looking at 4-5+ years at the rate of spell or spell would have to rise from $0.008 to $0.0229 to break even. This would be much worst for people who bought the top of the market.
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If we do this y would like share a NFT as badge of this moment just bcs its inexpensive and can help to build a community around the frog nation.
As design could be like the biblical exodus
This is not a good idea. Leaders do not know what are they doing.
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My vote is no. I think we should keep the backing price but implement a 20 percent tax when unwrapping your wMEMO and that would go back to the treasury. This would prevent a whale from selling and buying in at the bottom and then waiting for a buyback and repeating over and over effectively stealing from the treasury.
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I don’t own wMemo, what’s that? I signed up for TIME and am staying with TIME. So you can shove your proposal you clown. What a joke of a project.
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They honestly need to do better than 40k wmemo price when the majority of the people joined this project when wmemo was over 100k. Everyone that was an early investor is going to take a 60% loss or more if it goes down like that.
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I would enjoy seeing a side by side pros/cons of holding / staking / rev share etc of wMemo vs Spell. Break it down super simple
In support of investigating merger further.
Alternative: implement ve(3,3) locked staking
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How revenue share will be affected as we will be more users if we merge with Abra? This seems more like Abra is buying Wonderland at a cheap price rather than Wonderland getting the upper hand to create more value to its holders, as I see it at best the status quo is maintained, at worst we are diluted in the revenue share.
The only way for me to vote in favor of this merge is if we are getting a better deal or if at least all things being equal we keep the same profitability we would have with our investment on wonderland
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Why can’t the swap be from wMEMO directly to sSPELL instead of SPELL?
This would make things much easier for everyone, because otherwise you will start having all this conversation and doubts as to if people should hold SPELL or stake it, how to stake it, why do they have to swap SPELL for sSPELL on Avalanche, staking SPELL on ethereum has high fees, and all that.
If you simply allow to swap directly to sSPELL it should be much simpler!
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I agree with this proposal, however it would be great to somehow even the playing field during the merger for people who invested into the protocol at the height of the price in October/November. Is there a way we can make them break even? Frogs help frogs. Let’s have the people who are up immensely help the frogs who lost their savings a bit.
Also we need to stop buybacks ASAP to avoid the wales pumping and dumbing until our treasury is gone.
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Totally against. too many changes. the mistake was to move away from TIME. every time there is a price crash, there is a new proposal. people should take responsibility for their leverage. moving to SPELL is a disaster for memo/wmemo holders. get SPELL at inflated price and lose the rebase and APY, bif NO
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Did you listen to the AMA? Why would we get Spell at an inflated price? And the rebase and APY are not doing anything for you in the current model anyway (the cookie crumbling metaphor).
I vote no, I trust sifu can see us though this storm. Rev share is why I’m here. I’d be part of the rage quit if we did merge I bought into a rev share project. I already have sspell this is a separate investment
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agree. need to know where to vote it down though
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