Rebates

Wings Rebates let the treasury build capital and protocol owned liquidity by allowing the sale of discounted WINGS in an OTC (Over The Counter) format. The discount on WINGS will range between 5-10% however the amount of WINGS available for sale each rebate will be severely limited as it comes from the DAO's vested shares. The community can purchase discounted WINGS through these rebates using WCRO, UNICORN-WCRO LP or WINGS-WCRO LP.

The price of WINGS is based on the same TWAP mechanism that the Winery uses with GRAPE. A custom WINGS oracle has been deployed which uses the Chainlink MIM/USD price feed to calculate an average price of WINGS in MIM over time so as to be manipulation resistant. The discount rate of WINGS is set to a fixed rate based on this TWAP price, however this TWAP will likely vary from the current market price of WINGS.

Notes

• WINGS purchased through the rebate system is vested linearly for 3 days and amounts can be claimed during this time.

• WINGS is sent to the rebate contract twice a day at 3pm and 3am UTC.

• The amount of WINGS sent to the contract will vary depending on DAO reserves.

• Rebates may be turned off if it's in the interest of protocol health i.e. if WINGS price is low