Soundcloud:
Recap:
Full time legal team. Legal structure etc. “For the sake of all token holders” needs to be done for all projects, abra etc.
Unify, reach bigger goals. Become a corporation.
Have offices, like a “real company”
Find work for everyone that had issues with liquidation
Wants to “get out of the metaverse” as it is limiting our existence
Scale this whole thing to an extent where it becomes like a big company"
Build the “1st decentralized bank in the world”. Would have multiple divisions, e.g., loans, investments. We have the components already; we just need to “put the together”. “Build up the Lego castle”.
“The market is a fucking piece of shit. I’m super bearish to be honest” Institutions are getting more and more involved in DeFi by the day, looking for “non degen” projects.
“Can’t exist exclusively as a degen frog” Will do an actual AMA, discussing the benefits of a “unification”
"We need to understand, is it even possible? Like legally? Can we create an entity that takes over both protocols probably, and just creates a brand new megacorporation, or megaproject, and this is the first step because the benefits, I have very clearly in mind”
End of the day, people are invested to make money. Not because “it’s beautiful”.
A merger “Gives us the option to survive whatever bear market can come” Targeting good communications, transparency etc.
Liquidations. “It took months of hard work to collect the money to repay (Broke up, presumably about repaying popsicle), so, I don’t know if I can do it again but I am trying. I am doing my best, so hopefully it will be sooner rather than later”
Questions from the audiences
When talking about a corporation, do you have a plan to stay of crypto legislation?
Definitely needs to address the question of regulation, feels like we can be ahead of the curve by working from jurisdictions that are crypto friendly (i.e., Dubai)
Looking to get investors from Dubai also
Can both locally and globally source talent in Dubai, as border policies are relaxed
We have money to be able to take the best counselling possible to get to the bottom of understanding which jurisdiction will be the most optimal to build our corporation and then fucking do it
Build over a 5–10-year timeline
It is inevitable that we need to “play their game” as a corporation
If we try to merge the protocols, we want to do it the “proper” way, so it’s easier to transition everyone to a “legal framework”. So, in the short term, can we expect WL to keep doing its thing, and abra to keep doing its thing, and then eventually as this plan comes together in a solid structured fashion, that’s when you’d be bringing a lot more of the information to the table?
Yes
This is a transitional period. Working on treasury placement, etc.
Bringing on a new person for VC investments specifically
Timeline is at minimum a couple of months. Need to make sure its solid on the legal side
Don’t really want a RQ scenario, wants everyone to be on board
You had mentioned a preferential position for wonderland with the mCRV, could you give us any info on what we can look forward to with the mCRV?
The idea is that how do we accrue voting power and then make a copy of my design, I’m not surprised. It has been around for a while and the execution has taken quite a while because I wasn’t around
The concept is that abra is a platform that allows you to borrow for free, and in an exchange, it wants the voting power of your CRV. The mCRV (magic CRV) is a wrapper of vCRV voting power on curve. As convex is becoming less valuable due to dilution etc., we posted a proposal for the whitelisting of abra becoming basically an entity available to lock CRV into vCRV and accruing our own voting power
Abra is looking into creating liquidity for mCRV/vCRV and it can become a really interesting play
Looking into long term solutions that are cost effective
Create a long-term sustainable stream of votes. Just has the opportunity cost of potential borrowing fees
Running the numbers/financial on the merger, it doesn’t give the merger any justice as it is hard to crunch the numbers on the “synergies”. Are you able to give any forecast or projection on what it might bring?
dani As I mentioned, I want to take a more corporate approach, and take this as almost like an investment. Almost like pitching that you should invest your money into abra. On the legal side, on the projection side, on the market side, and what we can actually achieve in general, that’s what I want to work on across the next weeks and focus on that
We need substance
We have a lot of data ready
Starting with the vision of a decentralized bank
Keep money safe
Receive interest on deposit
Credit
Banks at the moment are flawed. DeFi bank can get these three pillars back
The bank would get interest through popsicle, WL and potential other acquisitions, degenboxes etc.
Systems need to be designed from the beginning, understanding the problem at hand
KYC system
Where is it difficult to get credit, but its high value
Romy mentioned that Abra is developing a cauldron for WL to use for our stack of MIM. Can you go into that?
Yeah so basically, we are developing a NFT site, where Abra can do the lending on this new product and we can put the MIM there and earn single sided its fucking how I designed this system is based on different pools of capital depending on different risks. For example, BoredApe. You can decide to have capital allocated exclusively to BoredApe at the price of a 50% or a 30% like it’s a whole system that basically funds how you can imagine them that locate money in different smaller cauldrons because each individual loan is a unique one. Then pool all that money together, and distribute it across
Question about perception of WL. There used to be a Lambo calculator on the dashboard, which brought specific “feelings” about the project. What do you want the project to “feel” like to new people?
I want it to feel like how finance and technology merged together feels like. Accessible, helpful, open. Especially inclusive. I have been looking into rebranding, and these are the key things. That feeling of ‘everyone is the same’. This is a new financial world, which requires openness
If and when the merger happens, where does that leave wMEMO, and if we aren’t going to be using wMEMO, which coin are we using moving forward?
SPELL. Its already listed on exchanges etc.
Dani with SkyH
Agrees that the market is shit, wants to adjust the portfolio
Just don’t take bribes away from my CVX, that’s my treasure!
When I saw this stuff, I was like guys, calm the fuck down. I had my moment, sorry I got angry
Moving the votes affects a lot of debt. Soon we can get a new deal, and get even more streamed to wMEMO, for a much better APR