Finance, Wizards & Witches

The merge.

The platform comprises three sections; WizardsFinance, WonderlandWizards, and WonderlandWitches. WizardsFinance aims to maintain WonderlandWizards and WonderlandWitches in order to offer value to users and ensure everything is open, transparent, and most importantly, secure.

How do we intend to do that?

Treasury: 50% of the funds from the WonderlandWitches mint will be put into a treasury. The WizardsFinance team will be tasked with making a series of investments to provide a return. 50% of the profits are then given away every week to WonderlandWizards holders, 40% will be compounded to increase the following weeks giveaway and 10% will be used to increase the buyback wallet. In the name of decentralization and transparency, all decisions will first be put to a multiple-choice vote so the holder can best decide what investment is best for their strategy. At the end of every month, we will provide a report mentioning P/L, weekly giveaway amounts, total treasury amount, etc. We believe in keeping the holders in the know so they can feel at ease with their investments.

Burn: Every time a WizardsFinance MemberShip Pass is bought, 80% of the $WAND is sent to a burn address. This means that the supply is taken out of circulation forever. If the supply decreases but the demand stays the same or increases, the price of $WAND will increase. Read more about token burns here - https://www.investopedia.com/tech/cryptocurrency-burning-can-it-manage-inflation/

Buybacks: On top of the burn mechanism, we also have a buyback mechanism. 20% of the funds from the WonderlandWitches mint will be used for $WAND buybacks at the floor price and then sent to a burn address; again, reducing the supply of $WAND. WonderlandWitches is a passive income NFT, thus it is essential to determine a floor price to ensure that the passive income is constant. As mentioned in the treasury section, 10% of the returns from the treasury will be used to increase the amount of capital we have for buybacks ensuring stability and sustainability.