In January Wonderland transitioned to wMEMO and introduced non dillutive mints. Shortly after, minting was turned off following the price crash leaving rebases with no real purpose.
Stopping rebasing mechanic
To stop the rebasing of MEMO.
As we have moved away from the principle OHM mechanics (minting/bonding) of TIME and from TIME being the token focus of Wonderland, the rebasing of MEMO is now just a legacy feature.
It is being proposed that the core team put a stop to the mechanism and remove the information related to it.
Turning off rebasing will complete our transition from an OMH fork, and push us more to focus the community on what we are now.
This will also set the stage for Wonderland’s future.
Rebases are a token split.
Every rebases, the price of TIME/MEMO adjusts for the split so even though you have more tokens, it’s not worth more, unless the price goes up.
The main focus should be on the price of wMEMO. Keeping in mind that the profits to be gained while holding are by staking wMEMO in the farm for revenue share and from market price action.
The end the confusion, it’s proposed to stop the rebases.
The Core Team will disable the rebases and update the dApp to ensure there is no confusion as the APY, Next Reward Amount/Yield and ROI (5-day), etc. will now be obsolete.
User should will still be able to stake TIME, but should not be able to unstake. Users should be wrapping their MEMO and use wMEMO instead.