It has been about the 2 months into the Treasury Management Term for myself and team.
We have been able to accomplish some positive things, especially on the defensive side of things in these markets. Nonetheless, the markets have worked heavily against us.
Some notable accomplishments during the past two months:
WIP passage for Redemptions per quarter, defining TM roles.
Early sales of BTC, ETH, FTM, SUSHI.
Some notable setbacks during the past two months:
Inability to get compensation for Convex Votes
Losses on purchases of WBTC, ETH, and trading UST.
Overall market losses
Farming yields have collapsed as well, and offer little risk-adjusted returns. Further, Frog Nation related positions have dropped in value dearly.
I simply propose to have a contingent extension on the Redemption (WIP 9) implemented: Upon the implementation of the redemption contract and after those who opted to redeem have redeem for funds - my post as TM will terminate 10 Calendar Days later or July 24th (the 3 month mark when I took over as TM), which ever is later.
The multi-sig will revert to the Founders, considering there are no other candidates to fulfill the TM position.
I would ask those in the community to find a viable candidate, upon the expiration of this term and hopefully this extension I have proposed.
As the original WIP was a 5% share of profits, given that this will be almost certain that there are no profits as defined by the WIP, this extension being transitory will be for no fees.
What a joke. it takes longer to appoint a treasury manager than their term. How can you plan or achieve anything in 3 months? Now we have to sit here and wait for a new TM before the money is being managed again?
while im sorely going to miss Sky and wish he wasnt leaving, I’m also appreciative that he would stick around to ensure that the redemption is handled and executed properly. this is a no brainer and also a necessity for us WL holders
I think you are a brilliant guy. You have added much value and engagement in Wonderland. It’s unfortunate that there were some insurmountable factors at play because I really think you would be able to help shape WL into something awesome.
I don’t personally have a lot of hope anymore, but I am keeping my right foot in WL to see what happens. I really wanted to see this cool idea blossom.