With rebasing basically nullified by wmemo does anyone have any idea of how the rewards are going to work or is this thing basically dead? I don’t see any new rewards structure and nor have I seen any airdrops from betswagg. At this time are we just letting wmemo bottom out and hoping the price goes up at some point what do we think the mechanism for that will be? This is looking real scammy I guess what else should be expected high Apy then bait and switch the mechanism and kill the price so the APY means nothing or am I missing something.
The APY was a Ponzai scheme which drew in a huge treasury. Wonderland had to transition or die.
We are betting on whether they can farm the treasury for the benefit of wMEMO holders.
And how are the benefits to be distributed is my question. I thought betswagg and sushi were purchased and investors would see some sort of rewards. Does anyone have an answer for that
I was pondering of the same. What’s the underlying logic of wMEMO? First, they removed Avax mint ( this was already a red flag: why remove most liquid asset from collateral?). Now, $TIME itself looses relevance. What’s going on here?
It was smart to remove avax, too much exposure and as you see avax fell in price allot.
Time was always irrelevant the rebases, it keeps adding more time to memeo, but really we are just splitting a piece of the same pie, only reason for a price increase is because market inefficiency. So wmemo is the pie, instead of buying a pice thats getting split, just but pie directly
In retrospect, TIME fell much more than AVAX. How many wMEMOs are there in existence?
We don’t know how they will distribute benefits of investments. Investing is a big gamble at this stage.
Man, Rome was not built in a day! Sifu himself announced revenue sharing within a couple of weeks (check twitter) and airdrops should be distributed within a couple of days… It is just a question of TIME!
Is Ponzai a little ponzi?
Seriously, I think the word “Ponzi” is quite inappropriate.
While the high APY was surely meant to have people onboarding the project, it is not a ponzi!
That has nothing to do with the treasury! Treasury wouldve fallen more had we had more avax! Glad we didnt get more
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