[WIP #3] - A United Front: Abracadabra + Wonderland Merge

3. [WIP] Wonderland Improvement Proposal
#287

It would make more sense to distribute the SPELL tokens at the current market wMEMO price, and perhaps drip feed the remaining SPELL to those who stay over time

Otherwise any valuation above market is going to cause a cascade of people selling to get out at the higher price.

The max price is about $105k based on how many are available, distribute at the current $35k (or whatever it’s at at the time), and add the rest to the revenue share distributions.

This is a good way to prop up the revenue share numbers too.

#288

This wouldn’t be that great of an idea since SPELL was also at an ATH when wMemo was so instead of like getting it at current price, we’d be buying in when it was $0.20 - $0.34 but I agree maybe this can be worked into it like depending on how long you held wMemo you get a discount purchase on SPELL so instead of buying in at $0.08 if you held since October you get in at $0.01 and November you buy in at $0.02.

2 Likes
#289

When is the vote?? Seems like a great idea. It will bring the value of $SPELL on a up trend pretty fast.It seems that this is what most wMEMO hodlers are looking for + compound interest. It will be amazing. I’m in!

Merging to SPELL would get us a nice APR (assuming APR of both wonderland and sPELL are merged) up to 600%+ daily. That would simply be amazing. Let’s do it!!

  • $SPELL is listed on all major exchanges!!

:muscle::muscle::muscle:

#290

Yeah ETH is a bit expensive for some people

#291

Don’t like this idea. How do I vote no?

3 Likes
#292

If i want to buy spell i would have - we all bought into this with expectation of a least breaking even and making a bit of profit somewhere in the near future. We have been promised airdrops and revenue sharing , but nothing but hollow words up till now as many of us have lost faith due to the everchanging agender.

It look like we are never going to get our money back that we but into this project - never mind a profit.

We as the community need to take control and start to lead this a direction that is going to reward the many thousands of small holders that dont leverage their position “potentially putting everyone at risk” and dont sell but invest in their future.

Do we really want to exchanging our wmemo for spell tokens - i dont know maybe i missing something.

2 Likes
#293

No need to over-complicate things…

This project needs trust and faith restored–in order to achieve this, they need to keep to the current plan and NOT this merger. If they keep to current plan then the ship will steady and attract more investors. If not, the ship will sink.

6 Likes
#294

Plain simple No. Trying to merge with another member of the ecosystem is simply a NO-GO.

Issues to be addressed are:

  1. Whale manipulation of rebases (dump after rebases)
  2. Whales frontrunning
  3. Treasury being wasted on buying back price that literally should not have been mentioned there
  4. Overleveraging - degen level - that is not pin-pointed and tackled at all
7 Likes
#295

My main concern here is that for those without much funding, staking SPELL would cost us our entire bag in gas fees. Unless Abracadabra is going to commit to adding staking on Fantom, Avalanche, Polygon or other L2s, this is a nonstarter since only those who are staking 0.5 wMEMO equivalent of SPELL would benefit.

1 Like
#296

How is exchanging to Spell any better for Wmemo holders?
What revenue farming, investment, or capital growth opportunities exist for dismantling Wonderland?
There has been no actual real benefit in the merger highlighted.
More transparency please, or some actual use cases would be appreciated.
Raising the treasury is one thing…
Plus 30% of the treasury to the team!? 30% of 3/4 of a billion dollars, I can see what they get out of the merger.
Don’t be had Frogs

#297

Spell APR around 26%, right? How would the Wonerland APY translate if we convert wMEMO to Spell?

#298

This all could be avoided if there was a tax sell fee for those whales that buy and sell dumping the prize. A fee for 16/20% for those who don’t hold at least 7 days or more and after that period its (zero) 0 % fee to sell? And the revenue of that would go to holders. This is happening in MidasDAO, Blizzfinance and many others
@danielesesta @0xSifu what guarantees as investors do we have that this action won’t dump the SPELL price and who will support the fees? What chain its going to be on eth? Are you guys goint to airdrop another 0.2 MEMO as you did for the fantom network ? Please address this concerns to the Frog Nation.

#299

Totally feel the same way. They must be rubbing there hands.

1 Like
#300

guys here some up side

  1. at 5,600,000 SPELL per wMEMO at .009 per spell that = $50400
  2. if marge spell would be cap ( no selling pressure for profit taking in spell)
  3. revshare would be in stablecoin most likely MIM and planned to be claim on all chain abracdabra
1 Like
#301

who guarentee that . even so the damage has been done spell is a huge supply which will leave us with a tiny portion in rev share while we hand off a huge treasury and 30% to team thats not a even trade off premium should be higher . its only around 25k wallets

#302

Good point, agree with you.

I’ve seen good idea mentioned throughout this thread, and in essence reward people who’ve bought ATH and been holding and enduring, vs whales buying at low point now and have ton of wMemo

1 Like
#303

Following that math, I would lose even more than my current bleeding. Oh yay.

Thanks for showing the math, which then convinces me that this is a bad plan.

1 Like
#304

A bit offtopic: I’ve talked to Mate Tokay (Co-founder of Bitcoin.com ) about Wonderland, he said he would gladly join the team and help to improve the communication for the project in the future!
He’s an excellent Communication Strategist, I’d suggest you guys to contact him.

Contact:
mate@bitcoin.com

If anyone could tell Daniele / Sifu to write him that would be awesome!

Cheers Frogs!

4 Likes
#305

On the Twitter AMA earlier Danielle said a fixed rate proportional to your wMEMO holding but that would need to be confirmed. If it turns out to be accurate it is a good deal because the price of wMEMO would be irrelevant and you would actually be getting a claim on the Treasury.

1 Like
#306

Here’s another option that has been floated… If there’s rev share of treasury in WL, then each wmemo would receive about $20K/yr annually ($350M/17,500 wmemo).

That amounts to over 50% ROI based on current wmemo pricing.

Additionally, the Rev Share could distribute assets that appreciate in price (eth, avax) and stables (mim). So, that ROI could increase as market increases.

50% ROI of real assets (not just APY emissions) makes wmemo a real asset that can be objectively valuated for cash flow . I don’t know what the market price is for an asset like that is, but in non-defi space you’re talking about 10x or 20x+… either way, it’s definitely much higher than the 2x value it would currently have.

I like this REV SHARE path way better than exchanging the best asset we have (revenue) for project streamlining in ABRA. It may help the dev team reach their goals, but I fail to see how it helps WL investors.

4 Likes