A proposed roadmap to SAVE WONDERLAND

[HeySuss]

The below is the work of several investors in Wonderland who have come together to work out a roadmap to save Wonderland. Each of us has weighed in with our views from various fields of expertise.

Please share your thoughts as we would like to move to an official proposal as fast as possible - TIME is of the essence!

Outline

The frog nation has voted not to wind down Wonderland and doubt exists as to the future directions of the DAO. As a decentralised, autonomous organisation, it is up to leadership to take the direction upon which the frog nation votes. With confusion, FUD and accusations flying, A small collection of frogs believe the best way forward is a fair, time-weighted split which allows frogs to cash out and leave, or stay and continue to help build. Despite a series of catastrophes, we have already achieved so much, under the existing leadership. This should be allowed to play out as long as there are frogs invested in Wonderland. This proposal, if passed, may require further votes on continuing aspects, such as management changes or treasury allocations.

The Split

A portion of the treasury, no more than 35% maximum, can be split to offer old HODLers exit liquidity. The frogs who are eligible must:

1. • Have been holding TIME, MEMO or wMEMO at the time the value dropped below backing

2. Use a snapshot system to confirm that they wish to cash out and leave Frogs who bought in below backing are not eligible, but will be eligible to remain in the project for all future rewards, not relating to the split.

3. The treasury allocation is then divided among ALL frogs according to the amount of TIME, MEMO or wMEMO they were holding at the time that the value dropped below backing.

4. The frogs who have confirmed that they wish to leave will be given their share in a stable coin.

5. TIME, MEMO or wMEMO that was sold after value dropped below backing will not be included in the split.

6. Frogs who do not cash out will not be repaid for their losses below backing, but WILL be rewarded for staying - see below:

After The Split (redistribution)

Some of the funds available for exit will not have been claimed by exiting frogs. These funds are returned to the treasury. The treasury will now be holding the TIME, wMEMO and MEMO bought back from exiting frogs. These will be paid to the frogs who remain over a fixed vestment period, as a reward for loyalty to the project despite heavy losses:

1. Only frogs who held TIME, MEMO or wMEMO at the time value dropped below backing will receive the redistributed tokens

2. The quantity distributed to each wallet will be determined by the value of TIME, MEMO or wMEMO held in each wallet at the time the value dropped below backing

3. The vestment period will be paid out in installments, based on the length of the project to-date (or based on the initial purchase of TIME, MEMO or wMEMO from a particular wallet - vote may be required).

Handover

Due to confusion and lack of transparency, new multisigs partners and managers must be found and voted upon. New audits must be undertaken and paper-trails followed. Accountability and reliability must be paramount to the success of all Frog Nation projects.

New Management

Transparency into whom we are investing with and what their intentions are is key to rebuilding trust.

Existing Management must each, as individuals, write a short manuscript on their activities so far, the strategies they have been working on, and their true, complete strategy for the future of Wonderland. This will serve as a form of “job application” for the new management.

All management should be doxxed so that voters can decide on a verified track record of action. Management who do not wish to be doxxed must step down, but can be engaged as external consultants.

Only doxxed and community vote-approved management may:

• be included on multisigs
• have access to Wonderland code
• Have access to Wonderland assets and funds

There are to be NO MORE “shared” accounts on any communication platform. One manager = one account only.

Security - Audit and anti-fraud:

In the regular financial market, Audit is a pillar that make sure investors have all the information on a specific company before (or during) their investment. In order to move forward and restoring Wonderlands’ brand we must have a full audit. And it must be done periodically, every 3 months.

The audit is divided in different phases and sub-phases, what we need here in Wonderland is the following:

1. An IT Audit  it focuses on the underlying IT system which relates to - for example - smart contract, security of private keys, controls and system in play to provide (and prevent) attacks to the funds and to the smart contract. It also makes sure (in the case of wonderland) to expose the amount of limit order in play if we want buybacks. A new IT audit will verify all coding and IT aspects of the project.

2. General Business Audit  it focuses on the business model of the project - is it reliable and or sustainable? Such a control would be followed by tests and evidences that the business is sustainable long and short term.

The most important part of a general business audit is that it focuses not only on numbers, but also ensure that the management has the skills and knowledge required to lead the project. A background check must be conducted on the existing management team. These tests would also verify the risk of “management override of controls” (or fraud risk) meaning to verify controls that are in play to prevent the management to, for example, steal money from the treasury or to avoid them from signing on their own agreement for an investment with our funds.

After all the tests in point 1 and 2 are done we need to have an audit report. Where we can see the findings.

Actions that the frog nation can take to mitigate the risks described above:

• Appoint an audit team (or single auditor) - to perform both Audit 1 & 2. The auditor must be selected with a public vote;
• Allocate a minimal part of the treasury to pay for such services which are NOT paid in Frog Nation tokens
• Interact periodically with the Audit team to verify their findings, including a GUI on the Wonderland website with Audit progress reports being visible to the public
• Understand (& vote) how to implement critical parts of the whole process;
• Give precise instruction – via the voting system - to the management to implement critical aspects highlighted by the auditor.

Existing Acquisitions

The existing Wonderland acquisitions form a part of our shared portfolio and shall remain so unless voted otherwise by the community. Focus is to be allocated to these side-projects as a part of our continuing strategy.

-BSGG

-RPG

-SUSHI partnerships

-etc.

Future Treasury Usage & Future Rewards

Treasure should be divided in 2 parts:

1. Reserve (50%)

2. Stable holdings 30%

3. Stable farming and yields 20%

4. Investment fund (50%)

5. Farming

6. Protocol investment

7. (Staking, Nodes,…)

8. Tokens and coins

9. Frog Nation VC

These treasury % splits should be voted upon before deciding the exact ratios, thus making use of the wealth of brainpower within the Frog Nation.

Recommendation is to move to a revenue sharing (as mentioned several times and widely supported by Frogs). The revenue distribution would 70% of all profit done in a defined and multi options period of time, where the other 30% would go to the treasure to ensure we get sustainable growth of the treasure and bigger revenue share in the future.

The vision for revenue share would be done through pools, where wMEMO would be locked for a user defined amount of time (multi option, e.g, 1 week, 1 month, 3 month,…) where longer locked time would mean higher allocation of revenue for specific user.

Pools would refer to specify investment type, project or overall. Frogs could choose to specifically invest in:

1. Farming

2. Protocol Investment

3. VC

4. Particular Protocol

5. Particular VC investment

6. Farming and Protocol

7. Farming and VC

8. VC and Protocol

9. All

In order to mitigate market crashes, the protocol will have the ability to remove and break LPs and pooled / staked tokens when certain trigger conditions are met. If this happens, a 24—hour vote will be opened to decide where to redistribute those funds for safer investments.

When investment opportunities are identified by management, a 24-hour vote must be opened to the Frog Nation before any investment is made. Frogs are not required to vote, but if they wish to have a say in the management of the treasury, the voting mechanism is their opportunity to do so.

[JPFcrypto]

Fully agree with the proposal! LFG!

[user11]

I like the iniciative. When it comes to rewarding the holders I think we can find a better way. I don’t think that not burning the TIME, MEMO, wMEMO in the event of letting people take their part of the treasury would work. If we don’t take those tokens out of circulation our backed price will be severally damaged by the dilution. I would love to be rewarded for holding, but I don’t think that’s the way.
I don’t like the idea of bleeding the treasury at all, however people is in their full right to claim their share of the treasury. Something that came to my mind is that instead of taking a 100% of your sahre you could take 95% (or whatever the math experts decide could be best) and that 5% could be divided among holders.

[cfeigs]

Regarding the audit I fully agree and support this proposal.

I have posted a question for Daniele in #ama-questions of the discord for the AMA later today.

If you support the proposal of a full forensic audit of Wonderland as it currently stands go ahead and give this question the thumbs up in the discord and let’s see if Daniele is willing to open things up.

I personally believe that Daniele and Sifu have had good intentions through this whole debacle and I hope Daniele and potentially Sifu in a capacity remain involved however there is way too much division in the community and scandal surrounding them which only a full forensic audit can resolve.

[cfeigs]

Generally speaking, I don’t support the use of treasury funds to buy out anyone who wants to leave.

This was a high risk project. People who aped in hoping to get rich quick while ignoring the risks have to learn the hard way if you want out not bc the chips are down it’s your loss.

The treasury should be used to generate returns to investors who are willing to hold.

[cfeigs]

If fraud or negligence are revealed to be the cause of investor losses, that’s a civil case. Nothing to do with the treasury.

[mathew112]

If you want to fight the bank runs, perhaps you need to offer buybacks at let’s say 80% backing price, and burn tokens immediately. This will not hit market itself, and will increase value of tokens too…

[CRYPTOgoBRRR]

I am an old HODLer but I don’t agree with paybacks weighted by time held… It needs to be current market to be fair.

“This plan and a few of them look to penalise smart investors. If we buy below backing why are we being penalized. I lost in value because i bought when the price was higher when i saw the recent opportunity i doubled down so that i can recoup my initial loss. The price is still very attractive right now and has been for the past few days. I consider wMemo to be a share in the company, whether that wMemo is 50 days old or 1 day old in my portfolio is immaterial. In a public listed company for example you buy stocks and your share in the company as well as the dividend pool is determined solely by the amount of shares, not how long you held it. There are no loyalty points. We blame whales but it is the fault of the protocol or the management to let it go below backing, if there is a weakness whales will take advantage there is nothing unfair in that - They are playing fair in my opinion. It might be harsh but thats how the shares work. No point crying asking for initial investment. I did not FOMO and buy at ATH (thats your fault), we should live with our decisions just like all things in life. IMO whatever we decide should be solely based on how much wMemo we have - its might be very harsh buts its the fairest. Why should my 3 day wMemo be inferior to your 30 day wMemo?”

[Danielolteanu]

Fully agree with this proposal Apy can be also maintained with a burning protocol of all uncirculated Wmemo and Time would gives a bit more profit and price stability.
After burning phase we can open new contracts under revenue share model

[Danielolteanu]

If anyone would cash out is okay is everyone right to pull out and and despite the loses is everyone decision.However that would mean that these tokens would be sold back to DaO and redeemed against corresponding portion of treasury.
This is why’s imperative that those tokens must be burned along with that Wmemo portion.
Now revenue share model is not feasible in conditions where you still have 2 Coins Wmemo and Time one is suppose to stop deflation while other is deflationary this is not going to work as long it creates market friction between those.
As Time goes down Wmemo if goes up sold back creates more time, Time goes up and Wmemo goes up now if Time goes up even with 1%more than Wmemo still gives more Time and so on when Wmemo goes up and Time down.
Market friction is what worked against us and aloud whales to manipulate the price.
In other discussion I proposed that these two coins needs to be burned 90%of supply and both merged into a new non deflationary coin builded upon a scarcity model instead.
I proposed WTime shares which would be divisible by 1000 units backed by Mim or other stable coin.
WTime shares would never could be sold under 1000 USD because the protocol won’t allow it been divided into exactly 1000 min or usdt units etc.
Everytime the treasury accumulates value and it redistribute it the value of WTime shares grows by being divisible with the number of units acquired on top . Let’s say if WTime shares grows from 1000 to 1300 is divided by 1300 units therefore is worth 1300 units=1300 USD.
Now with every sale I propose that every WTime shares to be burned before being redeemable for mim this it will always bring the supply down making every buy back at a higher price than the precedent because the coin would became scarcer.
This would benefit long time stakers rather than 1 time flippers.
I raised this discussion as proposal previously but I’m afraid it was invisible.
Everyone is missing the whole point the Apy is blamed but not the fact that 80%selling and the rest is holding.
The apy would be perfectly sustainable if sold coins are burned bringing the supply lower and lower making this coin as scarcely possible.
Of course No minting,No leveraging on DAO main tokens and no buying back let the natural course of market to decide as is a waste of money to buy back something that is dumped again is that makes sense isn’t?
Another proposal is part of treasury buying with TROY trade shares on 25%a year , TROY trade being an institutional broker and he’s being around for a while.This would endure risks free back ups for our treasury.
Investing in new projects, trading , liquidity should ensure sustainable growth.
Now we need to rethink the main tokenomics concept of Wonderland is not against the Apy in my opinion is still sustainable as long we have burning mechanisms of supply reduction and we need to eliminate Wmemo as Time can be 90%burnt and became WTime shares with same proprieties as Wmemo and even a rebase rate and nearly same apy.
These conditions are.

1. lock up staking contracts minimum 1 year Apy and rebase guaranteed.
   2.Fix supply of Wmemo shares distributed to all who staked Wmemo before Winding down treasury proposal.
   3.Forming a comitee to push these proposals

[lorifarmer97]

Totally agree!!
Those are all required steps to move forward

[TJR]

I go along with the quote “If it a’int broke, don’t fix it”

What we need to do before we propose any changes is

1. Get a proper management in place with full public disclosure
2. Get proper voting rights in place we the few don’t control the majority.
3. Perform a full forensic audit (this should also be done yearly)
4. A proper team is in place to run Wonderland
5. Proper documentation in place and a team member to own them for keeping them up to date

Only after we have these basics in place can we start to even think about other changes.

[lorifarmer97]

Agree! Audit is mentioned in the above “article”.
It is indeed a crucial step to move forward.

[TJR]

I know mate, but we need a secure foundation before proposing any changes. Lets get our house in order and under our “the peoples control”

[zivoeblueshirtguy]

I think that because of the whole 3,3 idea that is the reason that some of us that HODL should see the benefits come back to us by having our investment pegged to the moment that the price dropped below backing.

[pleskus]

@HeySuss

a

I fully support the idea

[Sisa73]

I’m all for this proposal. I know its been controversial regarding buying out those who want to leave and yes it is risky but like with any business plan, the exit strategy for some may/might have included the buy-back as part of their strategy. I for one leveraged a very small part of my wMemo only once it have come close to backing price and after the announcement. There’s not way I’d leverage when all the buying hype was around. A deal is a deal or we may never get these people back. I’m still in 100% a day all for this

[ChristianK]

I agree with the first proposals (organisation etc).
The buy back shouldn‘t take into consideration the holding time… I‘m in in December; so my loss is around 85%; I think the snapshot taken when under backing is the right and only time, to decide about a payback.
The treasury normally should be ours… so now decide to reduce and make a split. Thats just normal for shareholders too.
I think the most interesting question is, how to organize the management discussions.
And there are 2 steps:

1. Which comitee of the holders will speak and discuss open minded with Daniel AND also 0xSifu.
2. Do this both guys want to meet? And I think, if possible, it would be the best way to do this personally.

This should be done ASAP to stop this discussions and prevent further losses.

Otherwise we will again get no answers, or smilies or proposals followed by nothing.

So how to organize this first steps? Any suggestions??

Thanks for support!!

[HeySuss]

I hear you - From my point of view, I think that giving them to loyal HODLers is the best way to solve two problems with one solution. If we could vest the stockpile of tokens over time, it might reduce the price impact of dilution, it’ll be like an alternative to rebases.

Maybe add vote to burn or return to HODLers would be the way to go?

[lorifarmer97]

Yep, audit is crucial.
Would also be interesting for the all the frogs to get to know what should be implemented to improve the whole project!