Just letting you know that you are getting rugpulled from whales voting yes on current proposal. none of you even knows what you are going to get or what is gonna happen, yet you vote for it to happen. the only people profiting are the big whales that bought in the last days. which is probably why the biggest yes vote is someone who bought far below backing.
the only fair way to dissolve like this if everyone who bought below backing only gets back what he paid and the rest is split between people who bought above backing, depending on holdings.
cos right now this vote is 100% manipulated and you are falling for it like idiots.
Obviously, those are the dynamics of the situation. Leverage was invited, buy backs were promised, which caused the speculators to dump and then buy cheap.
Next we learn that the treasury is in the hands of a career criminal scammer.
Normal people sell out for a stupid price. Whales buy for a low price.
Probably the treasury will be worth a lot less than the stated backing price. It is bad for holders, who would have won if the project continued for a little while. It might even be better to sell out when the price gets close to backing, unless we hear miraculously that the backing is higher than you see on the web site, because some assets are coming back. But I doubt this, as wMEMO, MEMO, and TIME in the treasury is worthless now.
The big winners are people who just bought at the lows. I bought some more wMEMO at the lows to make back some money I lost.
If you want to do anything else, that comes down to a civil suit which I guess you will have to fight where Dani and Sifu live in Dubai.
It may not have been possible to change this vote, given how much was sold to whales at the lows. They may have acquired a controlling interest anyway.
In some ways you are right but in that case, your only real option is to dollar cost average down and buy wMEMO now at a discount to NAV. Repaying folks at the price they paid isn’t how shared ownership works. You don’t get paid to hodl, you get paid based on your prorata share of ownership. Sadly right now prorata shares of treasury are trading at a 35% discount to NAV. That risk premium reflects 1) risk associated with the unknown of what happens next and 2) the general fear that something could go wrong during an unwind. For eg, if we all get paid in a mix of coins that includes the largest wallet of AVAX on the planet, and we dump it, the price of AVAX will drop and anyone who hesitates to dump will be further rekt. This payout is not risk free…
So true. The next step is working out how to game the distribution.
It was foolish for big players in Defi not to rally round. If they had stepped in they would have given people confidence in the whole space. They would be showing that even retards and criminals can’t ruin Defi.
Now we risk a run on various assets and people rushing out of the Defi space.
Who isn’t going to “risk off” and clear out of everything at this stage? Even people involved in “regular” crypto could sell out of AVAX etc in preparation for a crash.
Big players should contact Dani urgently to head this off. Imagine hearing about a rescue plan from all the big players to protect the Wonderland treasury. People would relax. Price would go to near backing.