Daniele Sesta @danielesesta did an impromptu Q&A session on 1/16/22 on @Wonderland_fi $time $memo $wMemo
Here are some of the biggest takeaways:
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Here are some of the biggest takeaways:
π§΅
/1 wMemo is an IOU / tradable version of Memo.
You STILL get rebases /w it.
Daniele encourages everyone to convert their time into wMemo
You STILL get rebases /w it.
Daniele encourages everyone to convert their time into wMemo
/2 Why does Wonderland want people to switch wMemo?
Time is dilutive. Central exchanges will NOT list time as it is. They will list $wMemo
wMemo is also a better indicator of price than $time. wMemo includes the rebasing.
Time is dilutive. Central exchanges will NOT list time as it is. They will list $wMemo
wMemo is also a better indicator of price than $time. wMemo includes the rebasing.
/3 Some additional benefits of wMemo include:
β’ Easy crosschain
β’ Use as collateral on Abracadabra
β’ Participate in revenue sharing
β’ Use as part of Liquidity Pairs
β’ and more coming
β’ Easy crosschain
β’ Use as collateral on Abracadabra
β’ Participate in revenue sharing
β’ Use as part of Liquidity Pairs
β’ and more coming
/4 Wonderland is the largest DAO in the world
This is a long term play.
The treasury is at $1b.
Any projects will also benefit from the Frog Nation Stack.
Betswap.gg deal has closed, more are on the way.
This is a long term play.
The treasury is at $1b.
Any projects will also benefit from the Frog Nation Stack.
Betswap.gg deal has closed, more are on the way.
/4 Why is $time's price going down?
β’ There are some liquidity issues right now on $time due to the transition to wMemo
β’ FUDsters and competition projects are taking advantage of the confusion from the transition
β’ There are some liquidity issues right now on $time due to the transition to wMemo
β’ FUDsters and competition projects are taking advantage of the confusion from the transition
/5 Why are we using the rebasing model?
Rebases are designed to help people who have accumulated and held $time through a longer time period.
This rewards long-term holders.
This punishes speculators.
Rebases are designed to help people who have accumulated and held $time through a longer time period.
This rewards long-term holders.
This punishes speculators.
/6 Staking wMemo for Revenue Sharing
β’ You'll be able to stake your wMemo directly to earn additional 400m Betswap.gg Tokens.
β’ The revenue sharing will last 30 days.
β’ You'll be able to stake your wMemo directly to earn additional 400m Betswap.gg Tokens.
β’ The revenue sharing will last 30 days.
/7 Will there be more Revenue Sharing opportunities in the future?
Daniele hopes so.
This DAO model is on the bleeding edge of DeFi.
Daniele is working with lawyers.
So far so good.
This is a big experiment. If it works then the payoff will be immense.
Daniele hopes so.
This DAO model is on the bleeding edge of DeFi.
Daniele is working with lawyers.
So far so good.
This is a big experiment. If it works then the payoff will be immense.
/8 Why is Wonderland necessary?
This is our weapon against the VC's and the suits.
If there aren't DAO's like Wonderland, then this threatens the decentralized nature of our space.
This is our weapon against the VC's and the suits.
If there aren't DAO's like Wonderland, then this threatens the decentralized nature of our space.
/9 How long will the monster APY last?
Should remain almost unchanged in the upcoming months.
He wants to reward the early stakers.
Also by selling existing $time from our treasury (rather than mint new ones), $time will be less dilutive.
Should remain almost unchanged in the upcoming months.
He wants to reward the early stakers.
Also by selling existing $time from our treasury (rather than mint new ones), $time will be less dilutive.
/10 When will the revenue sharing for wMemo be released?
No ETA.
Airdrops are the priority first.
Once that's done then they will work on the Revenue Sharing Protocol.
In the meantime, wrap your Memo. When it's released...you'll be ready.
No ETA.
Airdrops are the priority first.
Once that's done then they will work on the Revenue Sharing Protocol.
In the meantime, wrap your Memo. When it's released...you'll be ready.
/11 Thanks for reading!
Follow me @thedefiedge for more threads on defi, frog nation, and other defi alpha.
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Follow me @thedefiedge for more threads on defi, frog nation, and other defi alpha.
I just started a newsletter to help normal people keep up with degen defi. No ETH maxis allowed.
Check it out at TheDeFiEdge.com
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