Are you confused about $time transitioning to $wMemo?
Don't be - I wrote a guide for you.
β’ What is wMemo
β’ The BENEFITS
β’ Why @danielesesta wants us to Wrap it
β’ How to TRACK your rebases
β’ WHEN can you stake your wMemo for revenue share
This 𧡠will answer everything
Don't be - I wrote a guide for you.
β’ What is wMemo
β’ The BENEFITS
β’ Why @danielesesta wants us to Wrap it
β’ How to TRACK your rebases
β’ WHEN can you stake your wMemo for revenue share
This 𧡠will answer everything
/1 What's Wrapping?
Wrapping gives a token MORE function.
Wrapped tokens allow you to use a token on different blockchains (interoperability).
You're giving a token extra powers that it wasn't designed to have.
Wrapping gives a token MORE function.
Wrapped tokens allow you to use a token on different blockchains (interoperability).
You're giving a token extra powers that it wasn't designed to have.
/2 Examples of Wrapping
β’ BTC to wBTC. Now we can use wBTC for LP pairs and as collateral to borrow money.
β’ ETH to stETH. ETH is designed to be locked away while being staked.
Lido finance offers stETH.
This allows you to unlock liquidity and use your staked ETH.
β’ BTC to wBTC. Now we can use wBTC for LP pairs and as collateral to borrow money.
β’ ETH to stETH. ETH is designed to be locked away while being staked.
Lido finance offers stETH.
This allows you to unlock liquidity and use your staked ETH.
/3 What's the difference among time, memo, and wMemo?
β’ Time is the original token.
β’ Memo is STAKED Time. This is how you get rebases. Memo is your receipt.
β’ wMemo is Wrapped(Staked Time).
Wrapping memo will give it more use cases.
β’ Time is the original token.
β’ Memo is STAKED Time. This is how you get rebases. Memo is your receipt.
β’ wMemo is Wrapped(Staked Time).
Wrapping memo will give it more use cases.
/4 Wrapped Memo is a CONTAINER that holds memo and its rebases
Here's a video that will help you visualize this
Here's a video that will help you visualize this
/5 Ok, what BENEFITS does wMemo offer?
β’ You can bridge wMemo to FTM, ETH, Arbitrum
β’ You can use wMemo in liquidity pools for MORE yield such as Spirit Swap
β’ You can use it as collateral to borrow $mim on @abracadabra
β’ You can soon STAKE wMemo for revenue sharing
β’ You can bridge wMemo to FTM, ETH, Arbitrum
β’ You can use wMemo in liquidity pools for MORE yield such as Spirit Swap
β’ You can use it as collateral to borrow $mim on @abracadabra
β’ You can soon STAKE wMemo for revenue sharing
/6 Why are the team pushing for us to Wrap it?
β’ More flexibility. Staking wMemo allows revenue share.
β’ It helps with Price Action.
$time's price is NOT a good indicator because it doesn't consider rebasing.
wMemo's price is much more accurate.
Slows down panic selling.
β’ More flexibility. Staking wMemo allows revenue share.
β’ It helps with Price Action.
$time's price is NOT a good indicator because it doesn't consider rebasing.
wMemo's price is much more accurate.
Slows down panic selling.
/7 HOW do I wrap my Memo?
It's easy.
β’ go to @Wonderland_fi official site.
β’ In the top right, there's a button that says Wrap.
β’ Choose the amt to wrap.
β’ Hit approve.
β’ Confirm Transactions.
On mobile and don't see it?
Try turning your phone sideways (landscape).
It's easy.
β’ go to @Wonderland_fi official site.
β’ In the top right, there's a button that says Wrap.
β’ Choose the amt to wrap.
β’ Hit approve.
β’ Confirm Transactions.
On mobile and don't see it?
Try turning your phone sideways (landscape).
/8 Do I still get rebases if I wrap my Memo?
Yes!
Remember that wMemo is a CONTAINER of all your $memo.
$memo automatically rebases.
Yes!
Remember that wMemo is a CONTAINER of all your $memo.
$memo automatically rebases.
/9 How do you keep TRACK of your wMemo and the rebases?
Yea it's not easy to track this at the moment.
The UI of the website is going to be updated to better reflect this.
For now, the easiest way for me is to use zapper.fi @zapper_fi
Yea it's not easy to track this at the moment.
The UI of the website is going to be updated to better reflect this.
For now, the easiest way for me is to use zapper.fi @zapper_fi
/10 Should I buy $time and stake or should I just buy wMemo?
It's easier to buy wMemo.
Sushi.com is the best place to buy it
It's easier to buy wMemo.
Sushi.com is the best place to buy it
/11 Why are the DOWNSIDES of wrapping my Memo?
1. You spend a little gas to Wrap
2. Might be a taxable event depending on your jurisdiction
3. You don't get the same dopamine hits from watching rebases every eight hours
There aren't that many downsides
1. You spend a little gas to Wrap
2. Might be a taxable event depending on your jurisdiction
3. You don't get the same dopamine hits from watching rebases every eight hours
There aren't that many downsides
/12 wMemo is $59k? How did they calculate that?
The formula is
Price of $time * 4.5 * Current Index.
$1209 * 4.5 * 10.84 = $58,975
The formula is
Price of $time * 4.5 * Current Index.
$1209 * 4.5 * 10.84 = $58,975
/13 Can I unwrap my Memo anytime?
Yep. It's not permanent.
Unwrap it anytime you want.
Remember you can directly trade wMemo on Sushi.
There's more liquidity for wMemo than Time.
Yep. It's not permanent.
Unwrap it anytime you want.
Remember you can directly trade wMemo on Sushi.
There's more liquidity for wMemo than Time.
/14 Do I HAVE to Wrap my Memo?
No, keeping it as normal memo is fine.
But you'll be missing out on participating in the revenue sharing.
The entire protocol is focusing on wMemo.
It's easier to switch and adjust to it.
No, keeping it as normal memo is fine.
But you'll be missing out on participating in the revenue sharing.
The entire protocol is focusing on wMemo.
It's easier to switch and adjust to it.
/15 Do I have to Wrap my Memo to get Airdrops?
Nope.
Normal $memo holders will have access to the $BSGG airdrop when it happens.
It's coming any day now.
Nope.
Normal $memo holders will have access to the $BSGG airdrop when it happens.
It's coming any day now.
/16 Where can I STAKE my wMemo for REVENUE SHARE?
Slow down fren. it's not live yet.
It should be live within two weeks. The team has to take care of the airdrops first.
It will be on the official wonderland website.
Slow down fren. it's not live yet.
It should be live within two weeks. The team has to take care of the airdrops first.
It will be on the official wonderland website.
/17 Hopefully this clears up any confusion you had about wMemo
I'm here to serve Frog Nation. πΈβ
1. If you enjoyed my writing, please consider following me at @thedefiedge
2. Also, pls retweet the 1st tweet. It'll help our fellow TADPOLES.
Educated frogs = strong frogs.
I'm here to serve Frog Nation. πΈβ
1. If you enjoyed my writing, please consider following me at @thedefiedge
2. Also, pls retweet the 1st tweet. It'll help our fellow TADPOLES.
Educated frogs = strong frogs.
If you're interested in long form writing, I started a newsletter last week called
TheDeFiEdge.com
You can read the 2nd issue here: thedefiedge.com
Most DeFi media wants to only cover ETH. I'm here to provide coverage for ALL DeFi.
TheDeFiEdge.com
You can read the 2nd issue here: thedefiedge.com
Most DeFi media wants to only cover ETH. I'm here to provide coverage for ALL DeFi.
Loading suggestions...