RFC #6 Non-Dilutive Merger of WAGMI into Hey Anon
Summary / Scope
This proposal seeks approval for a non-dilutive merger between WAGMI DAO and Hey Anon DAO, consolidating both communities under a single token: ANON.
Key points:
· No new ANON will be minted. There is no change to ANON total supply and zero dilution of existing holders.
· The swap of WAGMI to ANON will be funded exclusively from ANON already held in the protocol treasury.
· WAGMI holders will be able to swap their WAGMI for ANON at a fixed rate (see below) during a one-week swap window.
· In return, Hey Anon absorbs the WAGMI team, technology, and product roadmap - most importantly the WAGMI v2 AMM, the Boost single-sided liquidity engine, an RWA lending market, and tokenized on-chain funds - deployed on Robinhood Chain.
· The merger is contingent on both DAOs passing their respective governance proposals (“double governance vote”). If either side votes No, the merger does not proceed.
This RFC covers the ANON side of that double vote.
Main Objective
Motivation
Hey Anon’s thesis is a one-token rule: rather than fragmenting value and effort across multiple tokens, we consolidate everything the team builds behind ANON. Merging with WAGMI lets us absorb a complete, production-ready RWA DeFi stack and an experienced DeFi team without minting a single new token or diluting holders.
What the merger brings to ANON DAO
· A full RWA DeFi product suite on Robinhood Chain, added to ANON with no dilution:
· WAGMI v2 AMM — a new liquidity design combining Curve-style stable liquidity with anchor-price routing similar to Uni v3. Four-year backtests show ~30% better LP capital efficiency (APR) vs. Uni v3 and ~12–15% vs. Curve.
· Boost (single-sided liquidity) — deposit a single asset (e.g., a tokenized stock such as Tesla); the protocol flash-borrows stablecoins to build a 2x LP position, uses the LP as collateral at ~50% LTV, and auto-rebalances to keep LPers impermanent-loss neutral while capturing fees and upside. This adds real yield to stocks that pay little or no dividend.
· RWA lending market — a single USDC pool where any official tokenized stock can be posted as collateral at a uniform LTV (bank-style), enabling borrowing against a diversified basket of RWAs.
· Tokenized funds / DeFi ETFs — anyone can become a portfolio manager, assemble a composable index of crypto and tokenized stocks, and earn a management fee, with fund shares themselves tradable and eligible for Boost.
· Expansion onto Robinhood Chain — new users and activity, while users retain their Ethereum-style addresses.
· A larger, unified community and treasury base behind a single asset, strengthening ANON governance and liquidity.
· A new growth narrative — Hey Anon becomes the home of composable RWA DeFi (WAGMI = “one RWA”), extending naturally from the wallet, agent, and terminal products already in development.
What the merger brings to WAGMI DAO
· WAGMI holders convert into ANON, a token under active, continuous development with a broad, live product ecosystem (Hey Anon wallet, AI agent, terminal, launchpad).
· A clean exit from a fragmented position into a consolidated, better-supported asset.
· Reduced GMI vesting so holders can exit and participate in the swap quickly (see Timeline).
· Continued ownership and development of the WAGMI technology, now resourced by the combined DAO.
Swap mechanics
· Fixed exchange rate, set from the 10-day moving-average price of both tokens (e.g., ~800 WAGMI per ANON). Using a fixed, pre-announced 10-day average rate prevents front-running and price manipulation around the swap window.
· Snapshot of WAGMI balances taken before the proposal is posted to establish eligibility and allocations.
· The swap is executed manually by users through a dedicated swap contract deployed on Solana and Robinhood Chain.
· Fully funded from the ANON protocol treasury — non-dilutive.
· One-week swap window once contracts are live.
Contracts / Technical Requirements
· ANON token:
EVM: 0x79bbF4508B1391af3A0F4B30bb5FC4aa9ab0E07C
SOL: 9McvH6w97oewLmPxqQEoHUAv3u5iYMyQ9AeZZhguYf1T
· WAGMI token: Token contracts | Wagmi
· Swap contract(s): deployed on Solana and/or Robinhood Chain; funded from the ANON treasury with the fixed-rate WAGMI → ANON conversion.
· GMI vesting contract: vesting parameter to be updated (see Timeline).
· Snapshot block / timestamp: [to be published before snapshot posting]
· Treasury multisig / execution: ANON allocated for the swap to be transferred to the swap contract upon passage of both proposals
· Optional bootstrap incentive: allocation of up to 1% of supply for one month only to seed supply-side APRs on the new lending market — to be ratified as part of this proposal.
Timeline
· T-0 (pre-proposal): Take WAGMI holder snapshot; finalize 10-day moving-average fixed rate.
· Week 1 — Governance: Post proposals on both ANON and WAGMI forums; run the double governance vote. Merger proceeds only if both pass.
· Upon passage:
· Reduce GMI vesting from 29.5 days to 12 hours, allowing GMI participants to exit into WAGMI.
· Deploy and fund the WAGMI → ANON swap contracts on Solana and/or Robinhood Chain from the treasury.
· Swap window — 1 week: WAGMI holders manually swap WAGMI → ANON at the fixed rate.
· Post-swap / rollout: Deploy the WAGMI product stack on Robinhood Chain — WAGMI v2 AMM, Boost, RWA lending market, and tokenized funds — with the optional 1% one-month supply-side incentive.