Thread by @thedefiedge

Daniele @danielesesta announced today that $Time is moving away from the $OHM Model

We are turning into a SPAC and implementing Ve(3,3) mechanics

• What is a SPAC?
• What is the Ve(3,3) model?
• What does this mean for @wonderland_fi investors?

Here's 🧵 of my Speculation

/1 SPAC stands for "special purpose acquisition company."

It's a company formed for the SOLE purpose of merging or acquiring companies.

It will buy & invest in companies on our behalf using the funds in the treasury.

A SPAC describes us better than a DAO or VC

/2 Why move away from the OHM model?

It's not sustainable in the long run because of dilution.

It served its purpose for fundraising. We now have a massive treasury.

We're moving to a more efficient, and transparent model to reward long-term holders.

/3 What is ve(3,3)?

It's a tokenomics idea by @AndreCronjeTech and @danielesesta

It combines:

• Ve - Token locking. The longer you lock, the more APY% you earn.

• (3,3) - Rebasing. The longer you hold, the more wMemo you earn.

/4 What's the benefit?

The holder & protocol incentives are ALIGNED.

• Locked-up mechanics means lower sell pressure.

• Long term holders are heavily rewarded over speculators

• Stakers will start earning airdrops and farming rewards.

/5 Where are the rewards from?

• The treasury is being yield farmed and earning over $1m+ a day.

Imagine being able to claim $wAVAX, $CRV, wETH, & $mim from the treasury

• Tokens from projects we're invested in such as $BSGG and the NFT gaming project.

More deals are OTW

/6 Another feature of ve mechanic is voting and governance.

Some ideas:

• Voting over future investments
• Voting over which tokens to claim from the treasury yield farming

The more wMemo locked up then the more voting power.

/7 Conclusion:

• The model is completely getting rid of dilution. This is healthier in the long run.

• Implementing ve(3,3) means more tokens locked up (longer)

This rewards long-term holders and lowers downward selling pressure.

I'm excited for vewMemo

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