Hello Frognation ,
We have been going downhill at a very rapid pace and we all know it’s because of whales. It’s difficult to recover from this until and unless we fight back against whales. Whales are taking advantages of buyback and are doing arbitrage.
I propose the following and I hope we can implement it.
(1) Implement sell tax of 20% for some time so that whales wouldn’t dream of what they are doing and in the meantime we can control sell pressure.
(2) Reduce the sell tax with the advent of time. ( Example : Frog A bought wmemo , he has sell tax of 20% , but the more time he holds , the less will be the sell tax.
Please discuss about it and give more opinions and ideas.
Yes sells tax 15% and 5% buy in tax. 5% for holders, 10% for the treasury, and 5% weekly buy backs.
I HIGHLY RECOMMEND THIS STRATEGY. It is PROVEN to work for another DAO and it works QUITE WELL.
I suggest this FEE mechanism be ADDED only temporarily, as an EMERGENCY.
I strongly believe is, currently, the ONLY way to prevent treasury burning and the current FUD. We NEED THIS NOW.
why a buying tax? That has no sense in my opinion.
Selling tax is not bad, good for treasury which is the most important thing in a DAO
@Mephisto The OHM fork that also has a buying tax ( and also a sell tax ) does amazingly well during this bear market. But, yes I suggest just adding temporarily SELL TAX ONLY and see how it goes. It might be enough.
The GOAL of the TAX SELLING FEES: Prevent DUMPS.
Length - Temporarily, until the price stabilizes/starts growing.
Additional benefits: grows the treasury, incentivizes long-term holding, more control over the price, thus showing potential new stakers that the protocol has defense mechanisms for any type of situation/market.
Good idea, but without Whales with so many tax and fees there will not be a fresh money. How the price will increase then?
We have a treasury to back up the price and once sell pressure reduces, we can stop the sell tax.
you surely mean TITANO on BSC, but its a very very small project at the moment. Performs as it performs but you cant take such a high amount of earnings from the people who are staking or who wand to join the project.
The only reason for a tax is to punish traders and stabilize the price and avoid such red candles as yesterday. Taxes should not intended to punsih long-term holdrs, in particular not those who are liquidated and want to rejoin the project
What will prevent a whale to rig the game just by waiting you will have selloffs when tax period is over, so it will be cyclical, unless you make it extremely long and that will deter people from entering the DAO
We can stop the tax as soon as we will be listed on CEX , then manipulation of wmemo will be difficult if it gets listed on CEX
Tax fees should be TEMPORARY ONLY.
Tax fees should be TEMPORARILY ONLY, yes. Also, part of the taxes will go to the treasury which will also generate more revenue, thus keeping the APY high/investing in order projects.
that is also true, a broad and a deep market is much more difficuilt to manipulate as a small Liquidity pool but not impossible.
The event of yesterday was the second of its kind in the past few days and that shows me,
a) something is systematically wrong
b) we get targeted by someone
Another options would be to disable leverage positions so it should not be able to go short in TIME or wMEMO (no borrowing). Many unexperienced people are here who can’t manage a leveraged or derivative position as sifu can (or not ) but Frog Nation should also protect unexperienced users and not promise 45 lambos in a year
We need this. WE NEED THIS.
Indeed we need to pass this ASAP
Exactly, otherwise whales will keep dumping and treasury will keep pumping, we will be left with nothing.
Whales don’t wait for long , they come and go.
As a matter of the technique working, it’s already proven to work by the other protocol that has done it already. Thing is they do it for the long-term ( keeping taxes ), but we should do it just to get out of this slump, so to speak.
Implement airdrop to long term holders. Reward people for holding, implement sell tax and distribute fees to hodlers.
Once people get incentives for holding, they won’t sell.