The Anti-WFD Bill was passed by the Core Team & Community after a whale dumped 50k RICE in succession.
Anti-WFD (Whale Farm Dumper) Policy
A recent whale by the address of 0xe0f1df7aa4a0b436f3650dff69438e0a5a651855 has dumped nearly 50,000 $Rice tokens on the market crashing the price of $Rice and subsequently everyone's APR about 20%.
The Core team has voted unanimously in favour of the Anti-WFD bill in order to stop further dumping of this whale. If we don't act now, this whale will have more $Rice at the end of the next harvest and will likely continue to dump big.
From now on Farms or Pools will be penalized for a period of time if there appears to be a WFD in the pool bleeding it dry. These Farms/Pools will have their multipliers reduced until the WFD discontinues his detrimental behaviour or exits the protocol.
The farms will return to their usual multiplier if the WFD has ceased their detrimental behaviour.
A WFD is determined by the following criteria:
1. Has over 1% of total pool reward shares
2. Has sold the maximum transaction at least 4x in a single day
It's in the communities and teams best interest if we stop this behaviour sooner rather than later. If we don't and these periodic dumps occur too often, the only ones that will benefit are the whales. These types of sell offs also could result in a wave of panic selling.
We know that those specific farms/pools will have reduced APR, however it's better to isolate per farm rather than allowing the entire project and community to suffer. This also proves that the team cannot and will not dump their team tokens since the entire community will closely monitor who is continuously farming and dumping. We believe this is beneficial for the long-term and people at large.
We encourage everyone to join the Rice Cookers where you can compound tax free and HODL long-term.
We want to give enough time for $Rice to be developed into its full potential. We do not want to give whales this kind of power. We want to be a project that benefits the majority and not the wealthy. We will not let the whales punish the small fish. HODL and you will be richly rewarded.
We do everything we can to protect our true investors & the protocol. $Rice will be the premier DEX/AMM of the SuperBlockchain & we want to give it enough time & TLC to grow into that role. Additionally, if there is a period where farmers begin to dump excessively and sell pressure gets too high, team will enact ANTI-WFD Bill and silently increase tax. Those selling off will then be taxed upward 90% of it will be burned. Team reserves the right to enact the ANTI-WFD Bill until RiceFarm reaches full maturity. During this period, if you get taxed for making a BUY purchase, you will get reimbursed the additional tax you paid. Sellers however will not. Kindly just send your transaction hash to a moderator and admin team will reimburse you lost %. If a team member notices this, they will do their best to do an automatic manual reimbursement. Additional rice will appear in your wallet.
Please report WFD to our mods/admin team
Last modified 6mo ago
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