1. Token Supply Tangle:
- Our current token supply is a mere 1 million. In the meme coin cosmos, that’s like being a lone weirdo in a sea of normies — unique, but a bit misunderstood. The perception is that our tokens seem more expensive due to this scarcity, even if our market cap isn’t sky-high. By migrating, we’re thinking of inflating our supply by about 1000x for the psychological effect of making our token seem ‘cheaper’ because it is below $1 dollar while with the current supply our token would be worth $1000 when we reach $1B market cap.
2. Resource Reservoir:
- Post-dev-dump drama, our coffers are as empty as a politician’s promises. We’ve got no reserves for marketing, rewarding our tireless community, or hosting those wacky contests we love. A migration could allow us to earmark a stash of tokens specifically for these activities, fueling our weird endeavors.
3. Technical Tweaks:
- Our current contract has a bit of a spooky skeleton in the closet — a whitelisted address that could, in theory, collect fees. It’s not active, but it’s enough to make automated auditing tools raise an eyebrow (or two). A migration to a clean, simple ERC-20 contract based on Team Finance implementation (audited by Certik and Hacken) might just smooth those ruffled feathers.
4. Hype and Hope:
- Handled with our characteristic flair, migration could be more than a technical tweak; it could be an event that brings buzz, engagement, and fresh blood to our community.
Let's be serious for a minute, Weirdos. Here's how the migration would work technically:
The migration from our old Weirdo token to the new one is designed to be secure, straightforward, and transparent. To engage with the migration smart contract, holders will follow these steps:
1. Initiate Migration on the Website:
- Weirdos will visit the official Weirdo website and click on a "Migrate" button. This action initiates the process but first requires them to connect their digital wallet to the site.
2. Transaction Approval:
- The first transaction is an approval transaction. By signing this, token holders authorize the migration smart contract to access and handle their old Weirdo tokens. This is a standard procedure to ensure that the contract does not move tokens without explicit user permission.
3. Executing the Migration:
- Following approval, the second transaction is the migration call. When executed, this transaction securely transfers the old tokens from the holder’s wallet to the migration smart contract. In the same transaction, the new tokens are issued to the holder’s wallet at the predetermined conversion rate. This atomic nature of the transaction means that if any part of this process fails, the entire transaction reverts, thereby safeguarding the holder’s assets—there’s no scenario where they lose old tokens without receiving the new ones.
4. Token Collection and Migration Threshold:
- The migration smart contract will continue to collect the old tokens until a community-voted threshold is reached. This could be a percentage of total tokens migrated or a time-based limit, as decided by the WeirDAO.
5. Closure and Recovery:
- Once the threshold is met, the contract will block any new migrations. Subsequently, all collected old tokens will be "dumped" at once into the burned Uniswap V2 Liquidity Pool (LP) to recover as much ETH as possible for funding the new token’s LP.
6. Snapshot and Airdrop for Late Migrants:
- Just before the big dump, a snapshot of all token holders will be taken. Those who haven't migrated by this point will still receive new tokens via an airdrop, but with a tax penalty (the exact rate to be determined by WeirDAO vote).
7. Post-Migration Token Handling:
- After the migration cutoff, to prevent exploitation by purchasing old tokens at low prices for migration, no further migrations will be allowed.
Tokens that were taxed from people that didn't migrate in time will be dealt with according to a WeirDAO vote—options might include adding them to the community treasury, burning them, or distributing them via another airdrop.
8. Security and Testing:
- The migration contract will undergo extensive testing and documentation. Additionally, an independent audit will be conducted to ensure that the contract is secure and functions as intended without vulnerabilities.
9. Liquidity Pool (LP) Locking and Flexibility:
- In our commitment to transparency and stability, the newly formed LP tokens will be locked using the locking tool provided by UNCX. This action will be visually represented by a small green lock icon next to our liquidity information on all token trackers, instilling further confidence in our project. The LP will be locked forever. Using the UNCX locker, our community multisig wallet will also be able to claim the fees generated by the LP, providing a continuous funding stream to support long-term project initiatives.
- Unique Identity Crisis:
- Some weirdos love our low supply; it’s our weird badge of honor, some may say « Why fix what isn’t broken? »
- Complexity and Confusion:
- Migration isn’t just a walk in the park. It’s a full-on expedition that might stir fear, uncertainty, and doubt among us.
- Rebranding Rigmarole:
- A new contract means updating our presence on every tracker, tool, and talk shop out there. Plus, we’d lose our historical data visibility (though not the data itself).
If this proposal tickles your fancy and gathers enough community support, here’s what follows:
- Vote on New Supply: How many tokens should the new world hold?
- Decide Tokenomics: How much goes into the community fund?
- Set Penalty Rates: How harsh should the migration tardiness tax be?
We’re at a pivotal point in our weird history. This proposal isn’t just about token migration; it’s about setting the stage for our future. It’s about ensuring that our community can continue to thrive, innovate, and yes, stay weird.
Cast your vote, have your say, and let’s shape our destiny together!
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Our WeirDAO is utilizing snapshot.org to ensure that voting is done seamlessly!
Why Snapshot.org?
No Gas, Just Magic: Voting here doesn’t cost a dime in transaction fees, so you can save your precious crypto for other adventures.
Quick and Easy: Cast your vote as smoothly as you’d whisper a secret. It’s all about making your opinion count without the hassle.
Fully Decentralized: With Snapshot.org, the power truly lies with the people. Every token holder gets a say, ensuring that the community’s will shapes the path forward.
How To Vote?
1. View our proposal here: https://snapshot.org/#/weirdobase.eth/proposal/0x96dbe15a685507158f432b43951454e135685bb4b202072c404e74fab8644419
2. Connect your wallet where your Weirdo tokens are held (via Metamask for example)
3. Cast your vote!
We look forward to creating more decisions together.
There is no ME in WEIRDO, only WE.
The previous proposal of V2 LP holders gaining voting rights is not yet in effect for this snapshot.
<100 subscribers
Weirdo
Seems like a good idea minus the supply change thing, i would suggest adding no more than two zeros.
Let's get weird and migrate this! after that we can go $1B marketcap. Now is the best time to do it as the token is very low, cannot dip much further