So it’s exactly what I said then? You don’t want to have your money at risk, you sold to protect what you have, but if price goes up you want a return from that - just without risking losing it by buying back in right now. Problem is that is crypto - you don’t get gains if you don’t risk something. It isn’t a simple matter of ‘let’s vote that if it goes up I get some, but if it goes down I’ve luckily sold and am in stables’. Someone else out there IS putting their money at risk by providing the liquidity (eg buying right now) for people who want to sell, and shouldn’t they deserve a return for taking on that risk?
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I like and agree with this proposal.
If you really want to do this based on merit, payback everyone STILL IN the project first, then you can consider payback for people who panic sold. I haven’t moved a penny of my initial investment. People who have stuck through for the entirety should be prioritized over those that sold.
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imo, at this point, its not about rewarding holders who still believe in this project even after this news, but being responsible, owning up to their mistakes and fixing the damages they have done by reimbursing ALL those who are affected. you, me, and everyone else involved.
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i get where you’re coming from, but rewarding those who stuck out and reimbursing those who are affected are two different things. i think the treasury should still be distributed evenly even to those who sold after today’s news. reward for folks who stuck out should be unrelated to treasury and come out of the team’s personal pockets.
It needs trust, but it will never get it without structure between the devs and the community. I posted in general ,<Structure + Communication>, how to set it up starting today and I would start now if everyone agreed. Its not ok to have the gap in understanding and direction this wide without providing the correct pathways between devs and community to really solve the concerns and provide assurance to the direction with true education on how the money is being utilized and why it works.
Agree,
wMemo represent a share of the treasury, if someone sold it he sold that share too. He cashed out… So if he want a compensation, he should buy back since the price is much lower now.
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Non sense, who sold is actually causing the price to go down, who buys is helping it to not go to 0.
Once is decided, if it passes, trading should be stopped (kill the liquidity pools) and then offer to exchange whatever WMEMO you have for the value that is calculated based on the treasury / circulating supply.
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Let’s look at how hard this would be to actually do with just say 4 people, now imagine doing it with thousands of chain transactions across multiple chains and thousands upon thousands of addresses:
Let’s say the treasury had 5 million dollars.
Person A has 1 wmemo he minted at 100k, sold at 50k, rebought at 40k.
Person B has 1 wmemo he bought at 60k and still holds.
Person C had 1 wmemo he bought at 40k and panic sold at 20k.
Person D has 0.1 wmemo he bought for $4k and still holds.
How would you both calculate how much of the treasury each one is entitled to AND do it in an automated way that can calculate all that across multiple chains, including people entering/exiting LP pairs, including people who used TJ, Sushi, Spirit, Thorus, Impermax, and numerous other unknown contracts that might be out there? Including tracking if they transferred wmemo from one of their wallets to another. Or are you saying just to take the treasury and split it evenly among them with no regard to the fact that person A both contributed the most to the treasury and lost the most? With no regard for the fact that doing so would give person D more back than they ever put at risk?
Snapshots have their good uses, but they simply can’t be reasonable used as a means of determining how much somebody should get because they are quite literally a snapshot - they don’t calculate who bought what and for how much a block before, or a block after, or 2 weeks before, or 2 weeks after, etc. It would be insanely complicated to try to create a system to sort through all that and calculate it, and be very prone to missing people all over the place who interacted with contracts unknown to the person writing the contract.
BTW people is now panicking and selling below treasury because of fears(most likely the same that had FOMO at 10X treasury value).
If a proposal passes to liquidate treasury most likely price would get up to backing price as many would arbitrage that and the people that sold out of fear will take the loss.
Unfair? It’s just how the market works, no way to get all rich quick. That’s why people should understand what they do before trowing money wherever…
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Just wish that taking Omar out and using what’s left to grow can actually work out in the end but who knows now.
If we sell at treasury backing, that does not reward holders who have held for months.
What you are not factoring in is that whales have been sidestepping. Selling high, buying low. And recently, selling low to create liquidation cascades so they can buy below backing.
The solution is ve(3,3). Loyalty has to be rewarded. It’s all on chain. If someone has held for months, that loyalty should be factored into their returns, compensatory or otherwise. I actually hope for a revenue share model because it’s the only way to break even. But it has to be with locked staking.
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yes, creating a “redeem” contract should not be difficult. After liquidating all asset in treasury, the contract will just swap the wMemo at a fixed price (backing price).
Btw I think the best solution is to give all treasury back, then restart a new project if people want.
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Agree, implement ve(3,3) model for any kind of compensation, all the data is on chain. People can then decide to continue with WL2.0.
There’s a better way. Please read and support my proposal: A relaunch project that pays daily yields in BTC! Let me show you how - Please read!
Agree, stop the buybacks, protect the Treasury, go back to generating yield and place some of that yield into VC investments, some into compounding Treasury and some into yield for wMEMO stakers / lockers. The introduction of yield and airdrops to wMEMO hodlers will stabilize price.
Now is not the time to panic, now is the time to focus on fundamentals and get back to buidling.
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Bruh. Turning the lights off 90% down makes nooo sense. Where the money coming from? Do you know how many projects Wonderland is tied to? Spell/Abra/Mim/Popsicle/BSGG/ve(3,3)…stop looking at this project as a single entity. This thing has made over 1Billion generated rev…and you say turn the lights off? They invested in BTC and got out of Avax just in time. Broroowed in Abra against UST in Abra to make Millions to contribute to the Wonderland Treasury …ohhhh who did those moves? thats right sifu…are we not going to remember that either?
What the treasury been used for? Hmmm lets see…buybacks maybe? From a IDT mistake of people overleveraging in Abra and whale bots manipulation creating cascade liquidations. People then whining about getting liquidated.
The first solved problem has already happened which is “Thank you Jesus” - NO MORE Borrowing on the wmemo token.
We can get a team in and make changes. The treasury is still STRONG and investors are 90% down…soooo its TIME to make some moves with that amount in treasury to make a strong VC.
Getting at a loss? naaaaaw that dont sound good at all.
What damages done?
As far as we know there was no swindles done here. Bad decisions on the management side sure but right now so many of you are looking for someone else to blame for your losses and the perfect scapegoat fell right onto your lap.
The idea of someone getting reimbursed after selling sounds like fantasy.
Like a video game cheat code
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please payback investors. buy all wmemo’s from backing price. thanks.
DANIELE Please! Move. Start by airdropping all of us Hodlers of wMEMO/MEMO the BSGG, cut the delays and do it. ASAP. Show us we can trust you.