I’m a fan of bringing Sifu back in some capacity because you, the mods, are. I think your closer to it than I am and understand what it would take to keep the team functioning. At the same time, I don’t think it should go back to the way it was; I think y’all ought to consider inserting some constraints like having multiple roles and time-limited terms as in Wonderland 2.0.
TBH I think the biggest problem was and probably still is the communication strategy with an investor group this large.
Excellent proposal. I agree.
I support this.
The night all of this unfolded I read the court documents on Sifu, all of the articles I could find and determined the same thing as this proposal has and expressed it to everyone I knew involved in Wonderland. For some it didn’t matter and they dumped.
Since all of this happened I also am incredibly impressed with how Sifu has handled the situation publicly when dealing with those speaking/wishing ill-will upon him. For these reasons I continued to accumulate more wMEMO while the price ranged $2k-$15k repeatedly throughout the past few weeks.
I support this too…
Sifu + The professor, we need team work not a solo flight!
I don’t care about the credit card fraud when he was 18, I care about Quadriga, where is the hard evidence that he was out of Quadriga when things happened?
LOOK AT THE FACTS ! SIFU WAS GREAT !!! everybody have issues in the past ! but the present and future is more important !!
I want SIFU BACK !!
WE ARE STILL THE BIGGEST DAO IN THE WORLD !!
exactly. an audit must be done.
i support a vote to bring him back. Sifu would need to propose an application and let it be voted on. He was removed because people felt they were being scammed. He had a troubled past, paid his dues, and was involved in a billion dollar treasury, while keeping his past secret. Then we found out he was identified and still kept secret for at least a month. When Wonderland started to become successful he had plenty of time to say something. Im all about 2nd and 3rd chances but you need to understand the mistakes and seem sincere. People aren’t perfect
I don’t agree with the “exit option” You have an exit option all ready. Giving you a premium to exit while weakening the treasury seems counter productive.
Here are some problems to consider:
At any time during his direct involvement with WL, did Sifu park treasury funds in his personal wallet? If yes, how much and for how long? And most importantly, why?? (Same for Abra but this isn’t the place for it). One estimate had the number around $400M of WL treasury funds sitting in his personal wallet around the time of the liquidation cascade.
$400M earn $135,000 per day in interest income (12%/yr. return). With Sifu’s knowledge, he could earn more than 12% per year. A more accurate estimate is around $400k PER DAY in interest income (36.5% annualized).
It would take approximately 125 days to accumulate $50M USD.
Sifu was asked on Twitter how he accumulated $50M USD in a very short period, of which a substantial amount was now being sent to a washer in lots of 100 ETH. If you don’t remember, read this
Sifu’s response, also on Twitter, was something along the lines of “I did it through leveraged yield farming and leveraged directional bets”. Ok fine. But why, instead of simply withdrawing funds, did Sifu use a service mostly used by hackers, scammers, and drug dealers? Response, “privacy”.
While everyone is entitled to their privacy, those with direct access to a substantial amount of investor funds are obligated to be more transparent than most at the expense of their “privacy”. If that’s a problem, then you should not be responsible for the Treasury.
The treasurer of a HIGH-PROFILE DAO with SUBSTANTIAL TREASURY RESERVES should NOT behave in any way that could be construed as shady, even slightly. Just because WL is not registered as a fund or financial institution does not recuse those responsible for managing the Treasury from having fiduciary responsibilities. When investors put their money into a protocol, there are moral, legal, and ethical standards to abide by.
Bringing “back” Sifu will undoubtedly lead to countless articles, blog posts, twitter rants, etc… ridiculing a bipolar ecosystem of frogs who chose to bring back the person they ousted a short while ago, at a time when rebranding and reestablishing the credibility of WL is of paramount importance.
In fact, I would not be surprised if this proposal is the work of those who want WL to fail, wind down, and distribute the treasury to the wallets of the arbitrageurs. From a marketing/PR standpoint, this will have ZERO benefit and will likely prevent fund inflows to the treasury, practically assuring the failure of the DAO.
If the community wishes to continue monetizing Sifu’s knowledge of DeFi, we need to bring him on as an adviser. I’m a big believer in redemption and a 2nd chance. I also know from firsthand experience, being in the wrong place at the wrong time can lead to unfair repercussions that indefinitely haunt a person.
That said, would you put a former Formula 1 driver in the seat of one of the fastest cars in the world and tell him “Don’t even think about going faster than 35 mph"?
After a year or two, we can reconsider appointing him as Treasurer.
I am not contesting Sifu’s value to WL. His talents would contribute to positive returns going forward. However, those talents are the product of experience in DeFi (i.e. replaceable). A brilliant engineer, hedge fund manager, Steve Jobs… these people are difficult if not impossible to replace. Knowledge that is the byproduct of experience is replaceable.
We don’t need new investors, we need the treasury to make us money, Bring Sifu back!
Even tho you also provided no evidence, showing you did no research whatsoever in your long winded comment, I applaud your comment item no. 4.
If you read again the title, return Sifu to Wonderland, not as Treasury Manager. He could be the advisor, the co-something, anything so that we can leverage his wealth in defi knowledge.
P/S: He has no obligation to prove he got his 50M in a legit way. That’s the job for the person ACCUSING him. Simple as that. Until now, nobody showed any proof of this. I can accuse you sleeping with somebody’s wife any time of day, but if I cant prove it, then I am in the wrong. Him using tornado cash to withdraw his money is none of anybody’s business, unless somebody can show us that we withdraw token from any protocol illegally. Again, simple as that. I hate people throw screenshots around that prove nothing, just to make him/herself look “intelligent”.
I’m not trying to prove anything. I live by the mantra:
“Where there’s smoke, there’s probably fire. And if there is no fire, the air is still toxic”
https://eightglobal.com/news/trouble-in-wonderland/
Patryn’s record of alleged fraudulent activities has been tracked back to Midas Gold, an exchange that operated between 2008 and 2013 until it was shut down, BlackHatWorld and TalkGold. The latter operated in 2003 as a forum to “push high yield investment programs” or Ponzi schemes.
You are absolutely ignorant, ser. I can post 15 junk articles that claim the earth is flat. That doesn’t mean “where there’s smoke there’s fire”, so the earth must be flat.
Just for linking the article “Rinsing Millions from Wonderland Treasury” should be enough to disqualify you from any further participation here. If you had invested even a minimal amount of effort, you would know that (a) Sifu has sent his own personal funds to Tornado for privacy. That is perfectly legitimate. The use of Tornado is not “rinsing” anything; it’s “anonymizing”. It’s privacy. and (b) since everything is transparent on the blockchain, even those against bringing Sifu back do not claim that he has stolen from the treasury.
You are a disgrace, for posting what is absolutely nothing more than FUD.
Thank you for the kind response, in honesty I was and still am a pretty big Sifu fan pertaining to this project. Unfortunately I have to take a step back and view it from and unbiased standpoint which is why I am taking the stance against it. To your points i’ll hit them numerically below.
I agree, Sifu will continue to drive value of the current treasury. Unfortunately the risk vs rewards when it comes to the planting seed investments is where I believe we will run into problems with projects not wanting to cooperate or be associated with Wonderland.
I agree again, the outcry was a direct display of modern day cancel culture. I do believe the sentiment would shift for those in the community, my issue is the ones who are not. The mere fact we would have to show data and facts you provided to most newcomers or new seed investors seems like too much effort but has to be done in the name of transparency at this moment.
I do agree Sifu was great at his job and for other projects in DeFi (Abracadabra, Morphias swap with Solidly) however I largely disagree that a replacement would not be found. I think there are plenty of bright minds out there who could execute at the same level if not higher that do not have the hindrance of a criminal record.
Lastly to your summary, I do not think the project would suffer anything it could not recover if Sifu were to take over. My only issue is the possible missed opportunities we may face due to projects stances on his background. Not to mention many CEXs that would be unwilling to cooperate, thus not unlocking the full potential of value for the community.
I think we could meet somewhere in the middle and have Sifu back temporarily to manage treasury and commit a proper turnover to his replacement. Then switch to my earlier suggestion as an official advisory role. I love this project and community and enjoy helping and voicing my opinion when I can. So please feel free to reach out if you were to need an outside opinion or assistance in addressing community concerns.
Looks like there are quite some chubby cheeks inward knees flapping gums idiots in here, trying to re-install Sifu the fraudster as the treasury fund manager.
Not only did Sifu make Wonderland crash and people started having doubts to this project, but now, a few weeks later, you guys are wanting this guy BACK? Are you actually kidding me?
Holy shit.
Just because you call other people idiots and spouting “holy shit” around does not mean you are right.
If sifu is still a criminal, he would have been picked up already by the police. He is not a criminal anymore. Judgemental people like you the ones who force all criminals stay criminals.
Ungrateful “uu… I am holier than thou” bastard who didn’t even remember who brought the treasury up to a billion in the first place.