Download Time Memo
Angel Smidt
Current Index: the current index is essentially a multiplier. On day 0 it starts at 1, and it increases by the same % as each rebase. In other words you can read it as "If I started with 1 TIME on day 1, I'd have Current Index amount of TIME today". Another way you can use it is if the current index was 2 when you bought time, and is 4 today, then you have double your time. It's important to understand this math, but because it's following the same rebase amounts, you can use it to see the total % you've gained if you know what the index was on your initial investment. This is extremely important for wMEMO
Minting: This is how wonderland raises capital. People provide their assets to wonderland treasury for it to profit from. If you gave 8k worth of assets, it only cost wonderland $1 MIM to create a single TIME. The problem with creating TIME, is now everyone who was holding time has a smaller % of the total amount. To the pizza analogy, if I have 50% of a pizza, and someone goes to pizza hut and buys another slice then adds it to our pizza party, I now have less than 50% of the total pizza. This is called Dilution. The effect this has on TIME price depends. If minting grows the market cap enough, then your TIME is worth more. If we were to just mint tokens without turning a profit, it would decrease your TIME value, since each time is worth a smaller % of the market cap.
Time Price: The price of time is free floating. It's backed by $1 in MIM. The backing price that was advertised may not hold true anymore for TIME. It's more likely we back the wMEMO price instead. Why? Because every time we rebase we inflate the price of TIME, so backing it would lead to the treasury going broke. When we address wMEMO you'll see that it offsets this inflation, and thus is more justifiable to back.
wMEMO price: This is the big one. wMEMO = 4.5 * Current Index * Price of TIME. Let's think about that for a second and talk about some cool properties. For one, this completely offsets the inflation from rebases. Let's say the Current Index is 2, we have 1 TIME worth $100, the price of wMEMO is therefore (according to the above formula) 900. Now let's perform a MASSIVE rebase and double everyone's TIME. Now we have 2 TIME, but the price per time is now $50 so our net worth is the same (inflation). As you can see the price of TIME dropped to $50, but let's look at wMEMO. Well we doubled everyone's time so the Current Index also doubles to 4. If we plug our new numbers back into the formula, wMEMO = 4.5 * Current Index (4) * Price of TIME (50). Oh shit it's still $900!!! This means we've effectively factored out inflation in the price. It's also why wMEMO is a direct measure of how much you've earned in wonderland. If wMEMO goes up, then you've rebased more TIME than the price of TIME has lost you in value. if wMEMO goes down then the price of TIME dropped more than you gained from rebases. So how does minting affect wMEMO price? Well remember minting doesn't increase the Current Index, it only drops the price of TIME. So it will actually drop the price of wMEMO. This is why dilutive minting is bad, but rebases are fine. We should also think of wMEMO as the true market value of Wonderland. It's also why wrapping your MEMO doesn't impact the amount you would have earned from rebasing. Even though your wMEMO doesn't increase in quantity, it's value increases proportionally to the rebases you would receive. And let's be clear, wMEMO does NOT have a constant upward pressure from the price formula. It's that TIME has a constant downward pressure from inflationary rebases.
TIME and Rebases are just dopamine hits and nothing more. You aren't earning any NET revenue from rebases. It's marketing to raise capital. If you are new to Wonderland then you should consider wMEMO just like any other token, that represents your investment in wonderland. If you've been in wonderland for awhile, just wrap your memo, and treat it like any other token you hold. This is why we're moving away from TIME / MEMO and moving towards wMEMO as a DAO. Because it's a better measure of your investment's worth. We're done with marketing, we're done with fundraising. Now the team is at work investing the treasury to earn us value / money that way.
Auto Harvesters / Single sided pools: These are a scam. First, where would they be generating this money? If a pool claims even a 5% APY on your wMEMO, where is that from??? There's no investment vehicle to earn wMEMO with just wMEMO. Here's how these pools work. A farming site is birthed, and they want to attract attention. This farming site will have it's own token, let's call it FARM. This token increases in value if an exchange is successful and useful. That's it. Now they will mint a metric fuck ton of FARM and then use the value of farm to "boost" certain pools. So if you participate in this wMEMO pool, we'll also give you 10% of your investment back in FARM tokens. They just throw money at you to get you in the door. Now here's the problem. If you look at these wMEMO pools, they often have a fee to enter / exit. Usually 2-4%. Seems small right? But you pay those fees IMMEDIATELY, while the absurd 124% APY the pool advertises takes a year. What happens 99.999% of the time, is that APY is entirely from the boost in FARM tokens the site is throwing at you. They'll rapidly reduce that bonus so that within a week the APY is down to like 1.24%. You never make back your entry / exit fees of 2-4%. It looks good in the moment, but you'll see that APY drop like a brick, and now you're out wMEMO.
I tried to use React.memo in my functional component . It takes props from parent components. But i pass the same props to my 'memo' component.It renders every time.Same thing happened when i use React.Purecomponent.But When I use shouldcomponentupdate rerender did not happens: Why?
This memorandum provides guidance to states in taking the balanced approach necessary to properly implement the Supplemental Nutrition Assistance Program (SNAP) time limit for able-bodied adults without dependents (ABAWD). On March 4, 2015, the Food and Nutrition Service (FNS) released a memorandum that anticipated fewer states would qualify for ABAWD time limit waivers and provided guidance in identifying, notifying, and tracking ABAWDs when those waivers expire. To comply with federal law, states must do more than track ABAWDs. States must also carefully screen for exemption from the time limit and connect ABAWDs to the information and resources necessary to maintain eligibility consistent with federal requirements.
This memo goes beyond tracking to address screening and other challenges that face states in serving eligible ABAWDs and properly administering the time limit. As predicted, the economy has improved and fewer states and localities now qualify for the ABAWD time limit waivers that were in place during the economic downturn. At the same time, jobs are still scarce in many parts of the country and many ABAWDs continue to face barriers to employment.
Implementation of ABAWD time limit policy not only impacts client eligibility and access, but also has consequences for state administrative measures. Administering the time limit inaccurately, either by failing to apply it to those who meet the time limit or inadvertently applying it to those who are exempt, can impact Quality Control (QC) error rates. Failing to apply the time limit to ABAWDs who have used their three countable months can cause a payment error. Likewise, misapplying the time limit to ABAWDs who are in fact fulfilling the work requirement, or applying the time limit to exempt individuals can cause payment and/or case and procedural errors (CAPER).
In order to ensure accurate application of the time limit while also protecting program access for all eligible individuals, FNS reminds States of the following requirements, flexibilities, and best practices:
States must screen for exemptions as part of their process to identify ABAWDs. Accurate screening is fundamental to the State's implementation of the time limit consistent with federal law. Federal law and regulations exempt certain individuals from the time limit based upon their circumstances 1, including individuals who may be unable to work due to physical or mental challenges.
State agencies are responsible for assessing an individual's fitness for work methodically and comprehensively. The certification and recertification interview is critical in identifying fitness for work. Many individuals with physical or mental challenges are unfit for work, and must be exempted from the time limit. To be clear, an individual does not need to be receiving disability benefits to be exempted from the time limit under this criterion. States can exempt an individual as unfit for work if they are obviously mentally or physically unfit for employment or, if the unfitness is not obvious, based solely on a statement from a medical professional. If the unfitness is not obvious and verification from a medical professional is unavailable, states should make every attempt to verify the unfitness using an acceptable collateral contact (e.g., medical personnel or social worker). When an individual's unfitness for work is obvious to the eligibility worker, the state should exempt the individual without requiring a statement or verification from medical personnel. For example, a chronically homeless individual who is living on the street may be considered unfit for employment as determined by the state. Federal rules at 273.24( c )(ii) allow states this flexibility to prevent placing unnecessary burden on individuals who are clearly unfit for employment.
Hours devoted to job search or job search training, when offered as part of other E&T components, are acceptable for the purpose of fulfilling the work requirement as long as those activities comprise less than half of the total required time spent in the components. Hours devoted to job search or job search training, when operated by a program under the Workforce Innovation and Opportunity Act (PL 113-128) or Section 236 of the Trade Act of 1974, are also acceptable and could represent more than half of the required time spent in the component. In addition, state agencies may establish a job search period of up to 30 days following initial SNAP certification prior to making a workfare assignment. This job search activity is part of the workfare assignment. Therefore, participants are considered to be participating in and complying with workfare requirements during this job search period and are meeting the ABAWD work requirement. This job search period of workfare may only be conducted at certification, not at recertification.
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