Hello everyone! I open this thread to shape a DAO proposal that clarifies the usefulness of FT Firstriders once the Liquidity mining WRT budget is exhausted. The intention is to listen to all opinions and debate a unified proposal on an issue that is currently a great unknown. It would be beneficial for Wingriders because clarity would increase the value of the FT and, therefore, the value of the 3% commissions awarded to the treasury.
In my opinion, the FTs when the Liquidity mining WRT is exhausted should give a percentage of profit on the ADA (if any) distributed among the WRT holders in the vault (if any). And in some way it should also reward WRT holders who farm (WRT/ADA) (the latter should also receive ADA from commissions but the latter would be for a separate thread to clarify the incentives).
Some percentages could be:
Bronze FT +3%
Silver FT +7%
Gold FT +10%
I hope for your participation to form the best possible proposal
Iām in favor of keeping the utility of the FTRiders available for multiple reason (of course, including me owing one ):
It would prove the conviction of the WR teams to their product and early supporters, boosting trust in upcoming products
The mentioned 3% royalty for the treasure could be kept or even increased
A high valued (N)FT could be a good marketing for WR - way better, than dead, useless NFTs clocking up the marketplace and shedding a bad light/reputation on a product
(There are probably more good pro reasons and, of course, some cons out there, but I leave it as is).
Second,
my thoughts on possible utilities going forward (These are just some ideas, and thoughts, not really detailed):
There is pro-subscription mentioned in the roadmap for WR, which could give the FT a potential utility of a permanent subscription tier (no pro fees, as long as FT in wallet)
I like the proposed idea of tiered fee percentages, but I donāt understand the need for a change, as of my knowledge, WR would replenish the Farming incentives in some form, when the treasury runs out (e.g. buybacks or something like this). So the utility of the FT could stay the same, just the source of the treasury token would remain the same? ā It is highly possible, that I missed some information here (quite new to WR), so please correct me if necessary
Launchpad related utilities could be possible, for example, lower usage fees, or something (I havenāt used the launchpad yet, so maybe someone else would know something better).
And just for the heck of it (and me being a fan of useless visual gimmicks) adding some more flavor to the changes of the UI when holding the FT.
Third,
some thoughts in general:
I like the (N)FT powered utility enhancements of the platform, and perhaps it would be nice to add some more FT with utilities in combination of above-mentioned functionalities or something in that regard. For example, the Pro-Subscription could be permanently āfreeā if own of an FT-Riders NFT or another lower tiered NFT just for the Subscription as well as people, holding a certain amount of WRT in their boosting vaults (just an example from the top of my head).
I like the idea, that the utility of the FT-Riders is combined with the usage of the platform, forcing the holders to provide liquidity (or at least lock WRT tokens) to collect their bonuses; hence the platform and the holders are in a symbiotic relationship, rather than the holders just get passive share without giving anything to the platform in return (which would only hurt the WR-platform eventually (IMO)). So the enhanced/changed utilities should also balance out the usefulness for the holders and for the platform (e.g. feeless pro subscription would only be useful for people, who plan to use the platform)
Great krebsmenschen, thanks for your contribution!! I have copied all the points and we are going to shape the proposal by listening to all points of view. Interesting intervention. Happy and prosperous New Year!!
Thank you for opening this topic, it is always welcome to see our community members sharing their ideas and showing interest as to which direction the platform moves forward.
Firstly, with the current emission rate, there is a sufficient amount of WRTs for approx. 3 years of distribution. With this being said, there should be more focus on bringing additional utilities for WRT token rather than FTs. There is a new WRT utility for launchpad going out very soon. In addition, proposed FT boost would increase WRT distribution and could have a negative impact on the WRT token price. Sharing any percentage of profits on ADA would require change in smart contracts, which is technically and financially extensive.
Secondly, there are possible utilities on our roadmap such as the subscription model, where it definitely makes sense to consider FTs and it will be a topic of discussion. Also, decentralized batching and more complex integrations with partners will again increase the need for utilities, that will go primarily to WRT but might also go to FTs.
Hi techrider! Okay I understand. However, the percentage increases in FT are not aimed at the issuance of WRT, but rather at the reward in ADA once the smart contracts are updated. It is to provide long-term investment security to FT holders. This would increase its value and, therefore, the commissions allocated to the development of Wingriders without increasing the issuance of WRT
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