Greetings to everyone!
Now that the launch of V2 is approaching, I would like to open a discussion thread to hear the ideas that the team or anyone may have to modify this already approved proposal for a possible vote for its amendment.
ADA distribution or WRT buyback?
From what’s been said in past discussions the regulatory concerns remain specifically with rewarding WRT depositors with Ada directly. Now is there a way to implement this in a way that does something else than direct Ada rewards, or that eliminates this concern, then that would be the way to go I believe. The team is committed to implementing any and all DAO decisions provided they don’t risk the future of the platform.
I personally like the idea of a buyback program and it’s something that has been proposed in the past, we need something like this, be it a buyback or implementing the already passed proposal asap, so there’s some sort of path forward for WRT and Wingriders DAO. One or even better, more strategies to ensure future growth and durability.
Let’s leave this discussion open for now, wait for team to finish V2 mainnet work first and continue from there.
I would prefer a WRT buyback for simplicity reason and refilling of the treasury for a reward loop given LPs.
Cant argue any regulatory concerns given direct ADA drops for WRT holders - is it possible to point out, where the problem lies within this idea?
Genius is also “dropping” Ada and other tokens for claim on ther EARN page for stakers - so either they are regulatory incompliant, or there should be ways to implement a direct ADA reward for token holders (maybe only for WRT in the vault and as a claimable reward with the other farming rewards, so it would mirror genius logic).
Anyway, Im fine with both variants, but as I layed out in Discord a while aog, I still argue, that WRT needs an updated utility with rewards (even if they seem low), as the token price is bleeding from inflation and provider need to be incentiviced somehow. The current utility is not enough to counter the bleed, as (while nice to have) the governance and the launchpad utility does not counter the inflation. The first, because governance is only usefull, if you can vote for rewards (as already proven by this discussion) and the second would need some launching products, but currently they seem to go on lther launchpads.
Anyway, if other have something to add, or to explain, why there would be regulatory concerns that do not already apply by running a DEX itself, would be quite welcome.
So, my proposals for implementation would be:
If in ADA:
Give Ada in the Rewards sections for farming holders for WRT in the vault
If with buyback:
Just buy back on each epoch (or once a month/week) on an automatic level and show the buybacks on the weppage with the amount in the treasury, so people can see the increasing buybacks (if it works as intended). Could be coupled with a nice automatic overview in the social channels, like the farming epoch message.