Guys keep up promoting this proposal. Dani is already trying to install another shady 3rd Party who can keep on playing with our money. Its clear what he is trying.
Dissolve the treasury, after that he can hire Hong Kong Traders to gamble with his money as much as he wants.
I tried my best brother but the mods gave me the boot lol. You can only do so much when abusive mods just ban people because they don’t agree with what we are saying. I thought this was a dao lol…
I was one of the original people promoting this when it first came out glad other people took the initiative to continue advertising it after I got the boot
There’s no “emotional reaction” in my vote. We want our money back because the project is no more sustainable in such conditions. It’s the fairest decision to return the Treasury to the frogs who believed it in the first place and are holding it even through all the mess that happened in the last days. Unfortunately, there’s no point back to market’s confidence in Wonderland, and even in Wonderland’s team or the community capacity of rebuilding it in a profitable manner. If the market cannot trust this DAO, it’s better dissolving it, once we have no expectations of big money coming and bringing the dreamed profits.
I personally buy the dip. I think people with the same opinion should share their investment strategies together.
Can’t help thinking the timing of the community found out who Sifu is right after liquidation wave. What a coincidence lol.
Why do we have to compensate those who sold wMemo? Who sold is your problem isn’t it? I think that the treasury is large and if managed well it can still make us earn a lot of money. I don’t think it’s smart to close the project.
I’m a little undecided here…
You have given two options here, dissolve and restart or continue with the merger, now ordinarily I would know which to vote for. However, what I don’t like is your ‘also proposing’ I also am unsure of how that sits in with this proposal?
Are you saying there are two proposals? the one about liquidation coming after? or that this is included with the current proposal? I am not trying to pull you up on anything, I am just trying to understand it in a defined way.
The reason I am asking, is that if I am a long term holder in the project and yes I am still invested. Well yesterday my 12% leverage got liquidated I won’t go into too much detail as it isn’t necessary, but! I only had my position liquidated because the mechanism that was meant to drive the price back up again was stopped due to the Sifu vote. The price was so low there wasn’t even any point in trying to pay back the 12%. Are you saying that if I vote to dissolve and get compensation, as I have taken a 90% loss over all even without the liquidated position, that I shouldn’t get anything as well because I had some leveraged collateral? People who way over leveraged and abused the loaning scheme caused the negative price action in addition to the total mess from the Sifu debacle. There is fair use and abuse in my opinion.
I voted for all wMemo/Memo/Time holders to be reimbursed by the treasury and to reset this whole platform. This is the best of both worlds and would allow Daniele and the rest of the team to be able to do a really positive thing for people who got rekt by these liquidation cascades. If everyone got their money back or as close to it as possible. Wonderland could then rebrand if it wants to, or reformat the platform to better reflect the roadmap. The Team could then dissolve the wMemo and Time tokens and focus on Spell if thats the new coin they want at the heart of the ecosystem, even though MIM would probably be better. Then those who want to reivinvest because they still believe can do so.
Frogs paid $1000s for these $TIME and $wMEMO tokens and to switch to the Spell token which is currently .005 cents, down 78% from its all time high of .03 cents, doesn’t sound like a ticket to Lamboville which was what enticed MOST of us to invest in the first place. Like Daniele said in countless interviews, we invested in this to make MONEY plain and simple.
Since SIFU was a co-founder of this project, after learning more about his past crimes and behavior, this situation we are in now is in alignment with his lifelong criminal practices. Some may credit him for growing the treasury, but in my eyes thats the most important part of his scam.
Ask yourself, who has this massive billion dollar treasury benefited if all the holders are sitting at a 90% loss with a treasury that now sits at half the price it was just a few weeks ago? How much % is SIFU up since this all started? I think if SIFU was really genuine and really loved the frog nation, he would give back ALL of the funds he received from this project.
This podcast covers in detail the the QuadrigaCX scandal that SIFU (Michael Patryn / Ohmar Dahani “all the same guy”) played a role in. A Death In Cryptoland | CBC Podcasts | CBC Listen
Episode 4 of the podcast focuses specifically on SIFU and when you listen to peoples interactions with him it is clear that scamming is his game and it is his means of survival because it is perpetual behavior. One of the stories that stood out to me was when one of SIFUs childhood friends was talking about how they had become good friends and SIFU was over at his house and he discovered in SIFUs bag that he had stolen video games and X-men cards from the guy. While this isn’t as huge as the CIA bust and arrest of SIFU and the rest of the ShadowCrew organization which stole millions of dollars in credit card info, it revealed some fundamental personality traits of SIFU.
SIFU targets and befriends the person and creatively steals from them in a way that they don’t know. This is why I believe Daniele probably genuinely didn’t know at the beginning and when he found out, he probably knew of the blowback that would happen when it came to light and didn’t know how to handle it. Now the entire frog nation ecosystem is in peril all because of the greed of SIFU. Him getting liquidated several times probably helps to aid in the narrative like he’s with us but while he still probably holds millions of our dollars while everyone else is hurting, this is why the TRUST is gone and only a few options will make this tragic situation have some sort of positive ending. Because for some there won’t be a positive ending to all of this. I read a heart breaking tweet yesterday of someone writing a suicide note on twitter, because they lost everything in Wonderland. This is the real world cost of his actions and allowing these liquidation cascades to happen and crash the price multiple times.
Suicide Note:
https://twitter.com/sdc7_/status/1486839214377508870?s=20&t=kxK9ml-4k2N-lLw19ZnIUw
In my eyes, SIFU is a wolf in frogs clothing, and he deceived us all with a lambo calculator and used Daniele’s ecosystem to enrich himself at the expense of all of us, and rehashed the OHM platform to do so.
@Zgref_fred I agree, those who remain and have stuck with the project should be compensated. After all we are still here even now. People who exited should be aware that they left of their own accord, they accepted the loss. Now if they had stayed then they would be potentially compensated.
What should be happening here is a few proposals, for example on liquidation, there should be a limit on the % leverage people used against their collateral decided, this will ascertain who went gung-ho and abused the system and those that were sensible. Then a proposal on if people who exited should be in line for compensation as they only ended up 90% down due to the Sifu news and the over leveraging investors.
Then a final proposal having understood who would be in line to get anything at all, on how and when they will get it from and in what crypto they get it in.
There is still to much emotion in this at the moment.
Ok this article sounded very sound until you came up with some idea that it should be based on the snapshot from early January, there are people BUYING right now at 20k for a potential upside and thats not to give away FOR FREE
I think even people who cashed out during the free fall should be compensated as well. You can’t blame people for selling when the price is tanking because the career criminal in charge of the treasury didn’t put enough in the trading bots to prevent liquidations. Which not only wiped out people with leveraged positions but also crashed the value of the holdings for all the normal frogs. If the price downward action was caused by normal market conditions then no one should get anything. But since these cascades were caused directly by SIFU not putting enough money in the bots to prevent the liquidation, then everyone should be made whole as close to possible. That is the only way I see it being fair to the majority of the holders. Pay everyone their initial from the treasury. Use whats left if any to rebrand and refocus the platform would be the best option so that no one is at a loss and everyone who wants to invest in the future can continue to do so. #Reset
Now I don’t disagree with you at all fren! I would much prefer and just for the sake of getting it done, just compensate everyone at the time of the snapshot and let it be over with. If we stop the leveraging maybe even completely then the problem of it happening again will go away.
The reason I got a little narked was the additional proposal of not compensating anyone who had any leverage at all, my position didn’t cause the cascade, I got liquidated well after that.
I’m all for it. Dani said this was a experiment and that he really cares about the frogs
(Too much as he always likes to proclaim).
This went all terrible wrong and it’s also Danis fault not just Sifus. He lied to us and misused our trust. This is the least he can do to save his reputation and show that he isn’t just all talk regarding our “big frog family” but that he actually cares aout the people that put their trust in him and this project. After that when trust is renewed MAYBE this project can start over again.
Bought 1 TIME at 10k, I want my money back. If that will be done, he won’t be looked at as a scammer, but a person that just made a project that sadly didn’t work out.
Guys really, this is nonsense, I am currently holding wMEMO, per a lot of peoples logic I can just sell them now for the price of 20k get the cash to my wallet and then just wait and get refunded from some snapshot 11th of January, this is still a market that is alive, its risk or reward now. Buy at 20k if you think that you will get rewarded or sell if you dont want anything to do with this. Nonsense guys, absolute nonsense.
Double current holdings while it has been cut by 10 doesn’t seem that attractive…but well…
Hell no, i do not agree with this
How can anyone prove sifu has gone. Laughable… fuck this shit. Can’t believe anyone has any hope. They will vanish like the money, how can you back up the treasury with something they dictate the price of? I want the real crytpo back
You are Delusional!!!
Stop being daft it’s all in the blockchain that you’ve sold. People in the snapshot who haven’t sold should be compensated, or compensated minus how much they sold for. This could all be done, but only if Dani faces legal repurcussions I feel. He won’t do this out of kindness