Wonderland

After today’s AMA things are starting to look up. But the most important takeaway is that there are outstanding issues. Let’s break these problems down into their individual components and try solve them bit by bit. Here we will focus on the rage quit option.

The voting options on this proposal will be designed to force people to read and understand for themselves. One of the biggest problems we all face right now. So please, once you have done the reading, don’t go giving people a TLDR to try force them to vote with you. Every person should make their own decision.

• What is the Rage Quit Option? Basically, it would be an option to allow wMEMO holders to swap their tokens directly with the treasury for the corresponding amount of assets at the backing value per wMEMO.

• Why is it important? Even though some of us have undying loyalty for Dani and his projects no matter what, the fact of the matter is that he made some mistakes that in the eyes of many others is not excusable. They have lost faith in the project, they want out and for that we cannot blame them. These are the same people who will be most likely to hold the project back in the future because they don’t want to be involved, they feel forced/trapped to HODL, and that will inevitably be bad for the community and our progress. So it is important to give these people the option to leave so that we can all focus on up only in the future. No holdbacks.

• How can this be done without hurting the frogs who are still HODLing? I came across this Medium article (https://medium.com/@beeDgee/can-frogs-exiting-at-backing-bank-run-for-wonderland-a-potential-path-forward-99dfdcaa4871) that I think people should read. It explains the impact to the treasury in numbers and proves that it won’t be as bad as people think. Though I would still suggest doing things a little differently than in the medium article:

• The proposal

1. Take a snapshot once this vote closes (this keeps it most fair for everyone) to determine who is eligible for the Rage Quit option, only holders of wMEMO before snapshot will be eligible. This accounts for frogs who may have panick sold at all time lows and allows them time to buy back in if their original intent was always to exit at backing regardless.
2. Have the Rage Quit option be available during Saturday Feb 5th and Sunday Feb 6th, 2022 (UTC) to allow people a fair chance at exiting.
3. For the duration of the Rage Quit, from start to close, remove ALL wMEMO-MIM liquidity from Sushi so that trading is effectively paused.
4. All the wMEMO that is collected by the treasury from those who exit should be kept in a pool. All the wMEMO from people who Rage Quit then gets distributed proportionately back to all the wMEMO holders who remain after the Rage Quit period has closed. This way if half the people choose to rage quit - every single remaining wMEMO holder will basically double their position in wMEMO. This will effectively make up for any loss in treasury assets and decrease in backing per wMEMO. Because remaining holders will basically have more wMEMO despite the backing being proportionately lower. I think this is a great option because it will, in my opinion, really reward the most loyal holders most. I believe that Dani and team will get this project to be successful again and grow the treasury way past its previous highs. If that were to happen after people Rage Quit and give us their wMEMO, not only would the backing price surpass its current level but those of us remaining would all be HODLing much more wMEMO without having to pay for it.

I think I can see a way forward here where mostly everyone can get what they want. Those who lost faith and wanna exit can exit, but they will be lining our pockets with more wMEMO by doing so. And will basically be rekking themselves when Wonderland rises up again. And at the same time, the traders and price manipulators won’t play a role since during the rage quit option there will be zero wMEMO-MIM liquidity to trade.

There are still more issues ahead, but let’s focus on one thing at a time. Please understand the advantages/disadvantages of each voting option for yourselves and vote knowing that you made this decision for yourself. Thanks for reading!