There was an AMA held with Daniele and Team on August 24th discussing this a list of concerns posted in a DAO Discussion.
You can listen to the entire call HERE .
Below is a summary of the conversation:
1 Extended Absences
Dani: In the turn of those events was for me, not very easy to maintain a status of focus. I would say, like focusing on maintaining any of my projects, working properly, like my behavior was becoming erratic. The type of decisions that I was taking were not clear. So I decided that as much as I still was up and down in terms of like mood, you know, like at the end with the result of that mental instability caused by this constant fuckin attacks and social media.
Until the point in which I decided to completely delete social media, including Discord from my phone. But in reality, like the situation was that part of a few days, which I was away like out without internet connection. I always have been like, maybe not messaging, but following the situation of Wonderland and looking if things were good or not.
So now, given this context after all, this ups and downs and whatever. I think that finally my - My personal mental health has been in a good spot.
That’s why it’s the only one that I probably have to answer in more than one line. But is that what we are supposed to do with people that are potentially or not, that are elected but are not - they’re not following 100% of their duties. Right? So who replaces them and so on? So, this is part of the work that we need to figure out during the restructuring of the governance framework.
Matt: Right, well, this here is about how to manage things when you are not around, right? You mention You would have preferred strategies being different, yet you did not step in to clear this up. Can you work to build a relationship with someone on the team that you can communicate with when you’re having mental hardships, to ensure they focus on your vision while you are away?
Dani: I think that is a very good idea. In my day to day basis, I do not communicate lower down. That’s how I work, like lower lower down. I don’t communicate, personally, for example, with a front-end developer, okay? I always look at things at a higher level. So I can kind of focus my attention on a few individuals.
Telegram is my number-one way of communicating across all our all our business. So we created this Treasury Council, and for me, it was amazing because it had me go to the people that was sort of like communicating with me right there in the same group, and talking about the productive things, like to deploy strategies. I was very very, very good. Then having calls when I’m called upon - very good, because I get updated. We can speak about things. Like, this is a good, efficient way to work for me.
I need a higher level kind of resolution of what you come up with, and then I can give my input on that, because there’s a lot of stuff that we are going through. It’s not just like the governance framework. It’s not just like a lot of people ask themselves, like, yeah I was absent - but was I absent? Like during the 30 days of the period that you mention like here that I wasn’t active on discord? What you can say that I was absent from discord but was like fully absent from my duty is not because I have been into the treasury chat. We had a treasury chat. I’ve been looking at stuff. I’ve been discussing stuff also, with skyhopper on multiple occasions and it’s true. I’ve been signing stuff constantly.
Almost on a daily basis, and there have been periods in which I didn’t. But I mean, we’re not talking about more than five days of where I was without internet connection and so on. So, like the issue, the main issue that I see is that the community wants to see me more involved.
So, like contracts for the Redemption, send all that stuff. I watched all the Wonderland Improvement proposals. I’ve looked at every vote. Like, the reality is that I’ve been around here, just not in the way that you expect me to be around … on discord, replying to pings and everyone that has been pinged to me. But, hey - I mean, you can´t also say that it was 0% for 30 days. No way. Just to make it clear. No way.
DAO Member: Will you do more AMAs, like weekly or every other week?
Dani: I thought about that a little bit about this and I thought about how we can communicate well? And at the same time, do something productive and my first idea of them being productive was for example, to have like a blog post about why we use different trading strategies and the idea behind new proposals.
Matt: Can you set up a standard operating procedure for a chain of communication between yourself and the team?
Dani: I can take a look at that. I can have a call together or in the group chat with all the moderators and kind of see how to do it.
2 Mystery Signer
Matt: Who is the mystery signer?
Dani: You can imagine this mystery signer as a proxy of me. Okay? Like, either me or Georgiy. It’s a proxy sort of situation. Like proxy means that if something would have happened to me or Georgiy we need to have a backup.
Squirrel was never involved with Wonderland. In case something happened to me and I was not reachable. So I could have signed. If Georgiy had something happen to him and is not reachable, it could have signed. And in case this address was compromised because of being booted out, it could be changed.
At instances it has been Vitalik, depending on the load of the tech team at the time, different people have been using this address. You can consider it as a corporate address.
Matt: This isn’t an extra person, this is an extra address that is instructed by you guys? I hope you can understand why many community members would have an issue with people controlling two different addresses.
Dani: It has been just me and Georgiy pretty much securing the whole treasury for a while
Matt: Yes, and that was two people. You and somebody else controlling an address to make those liquidations then? If this address is not an individual.
Dani: Yeah, sure. And it was executed, either was executed by a third-party of the team because it was in a different location than us for security reasons, right?
Put it in this way; Me and Georgiy controlled it, okay? So it was a majority. If we needed to execute things that would save the DAO need to send the funds away or something with what happened in case something would have voted or the dismantle vote would have passed, we needed to ensure the execution of such things and this execution.
Matt: This delegation to that (mystery signer) address, which changed the treasury manager’s direction on the CVX votes; that was not just somebody else - that was you directly, or G directly, correct?
Dani: Yes, me directly.
Matt: How do you feel that we should respond to you violating WIP 8 in that way?
Dani: I wasn’t aware about what direction Skyhopper was going to use the CVX for. To me, the whole CVX trade was just created for a specific strategy in which I would have used team allocation that is under my specific management. So it doesn’t require any involvement of the Abracadabra team at all for deploying the funds to use for bribing on the CVX of Wonderland.
We had such a large position in the MIM3 pool. So it would have made sense to just vote for ourselves. Raise the APY on the MIM3 pool position that we were already farming and at the same time gaining more rewards in Spell bribes. That was totally fine to me because the spell was a long-term treasury position.
So this was my rationale. I didn’t see into multi sign, or any transaction request in the treasury management multisign chat about the CVX bribes of other protocols. We just executed the thing because it was about time, like we needed to lock and delegate them. So that’s the reason why.
Probably my mistake was that I didn’t follow up about what Skyhopper was doing. But I thought that he was very clear about the way that the whole CVX investment was intended from the beginning. You understand, this was my rationale there. I wasn’t trying to override any treasury kind of decision. I was just making a decision on something that has been looked into for a while and it was clearly an improvement over the current position that we were already in. That wasn’t trying to say, “You can’t do this, you should do that”. It was just, “we should do this because that’s what we said we were going to do for a while”.
Sifu: My question is not about the Multisig, it’s about the mystery signer. So you’re saying it’s a shared account and if I came at you with a wrench, you have two out of three signatures. That is so bad, dude.
Dani: Yeah, we have control over that, well, definitely, but it’s not in our location. It’s not together. I don’t have access to this wallet right now. Neither does Georgiy. But other team members have.
Matt: How many team members have access to this wallet?
Dani: I think two. Only two
Matt: So you don’t have access to it and neither does Georgiy, but in case of an emergency, you could gain access to it as you’re saying, yes?
Dani: Yes, exactly
Alice: So it’s just you and Georgiy then, the two that have access to this one, just to clarify
Dani: Nonononono, there are two other team members that have access to it.
Matt: So four people?
Dani: Four people have access to it, yes.
Matt: Who are these four people?
Dani: Me, Georgiy, Nikita, and Vitalik.
Matt: Do you have any other information about Nikita?
Dani: Yeah, he is part of our team and his focus is on security. Like security, like cyber security and personal security.
3 Following Governance
Matt: one interpretation of governance and the adherence to governance is that outside of an elected policy officer, governance is always adhered to and governance is the only process that can change the protocol. Do you agree with that?
Dani: Yes
4 BetSwap Agreement
Matt: The full terms and conditions of the BetSwap agreement are contained within the medium article about the agreement, correct?
Dani: yes.
5 Multisig Security
Matt: Can we at least have an even split on the multisig of elected members?
Dani: It’s like four out of six like that, so many people like, for example, loss of keys, there is so much, like, the more people you have the more things get fucked. Like, you can try. So you say that they can’t do any transaction without the certain side. We can try, but still I want everyone KYC’d.
Matt: WIP 15 has language to dox managing members in a way that protects their identity unless the DAO needs it. Basically two members hold half of an encrypted file, so neither has access to it alone and both can supply the file to the DAO if it’s needed.
Dani: What about a lawyer in the USA, instead of a DAO member? That would be much better.
Matt: I mean, that’s a serious way to go about it. Of course, it would be great like that.
Dani: That makes sense, because if something happens, the lawyer just presses charges instantly in the USA, which is unfortunately the only place in which you don’t want to get sued.
6 Treasury Council and Counterparty
Matt: WIP 15 calls for a Discord channel to be made for Treasury Council. You may have some objections to it particularly, but if we’re going to strictly follow governance unless governance changes governance, then we need to make that channel and stick to that unless governance is amended.
Dani: Can you ensure on Discord that exclusively, the people that are on the treasury council, can see that channel. Can you ensure that?
Alice: Yes, I can.
Dani: For sure?
Alice: Yes. I think Matt’s suggestion was, we can set up a private Treasury Council server that only the members of the Treasury Council and yourself are invited to.
Dani: Who is the owner of Workerland?
Alice: I am.
Dani: Ah, ok. And you are on the treasury council, right? So you are the exclusive Administrator of Workerland?
Alice: Yes.
*Dani: There is no other admin apart from you?
Alice: No, no one else on the server has any - they all have exactly the same exact permissions. I can set up a private channel within workerland for only the members of the council and yourself, that no one else can access.
Dani: Ok. Fine.
Matt: On the counterparty concern; is it that you’re unwilling or incapable of acting as a counterparty for Wonderland?
Dani: I think it’s not legally possible for me because I’m directly involved. I am acting as Wonderland directly so it’s legally not possible to do. But if anyone else, like Sifu could do it because he’s not involved anymore, directly. He is because we have Sifu token. So no, it would be another counterparty. Like we would need to trust another counterparty that would do it for us. That is not directly involved either in treasury management or involved in the DAO specifically and so on, just because of legal reasons.
Matt: Okay. Are you saying that no elected members, Nobody who’s really involved with the DAO in a official capacity?
Dani: They could pin the person as an actor of a Wonderland; this is very bad. Like, it’s not advisable, as a physical person, like it’s no good. Like, it’s better not to do it.
Matt: How would you suggest we go about setting that up? So we can get ready to be able to facilitate trades that would need a counterparty when we run into them.
Dani: We have Bastion now and I have reached out to others and I am compiling sort of a list of third parties for OTC. A lot of Trades we can do them, like with the size that we have currently, we can do them normally like with LPs. As long as we do it not so strong, like we don’t hit the LP so big.
Sifu: I’m also still available. I took the last batch of CVX for that reason.
Dani: Yeah, that’s perfect. So I mean as long as we already have two counterparties, plus the dexes, so I think as soon as the others reach out we can have three, four, just to be flexible.
7 Behavior
Matt: Instead of telling moderators “you don’t respect me or if you lost my respect to fuck off” in a general public channel, say that in an internal Channel. If you don’t know exactly how the Sifu Vision Redemption mechanism works, or another investment that we made; I think it would be more professional for you to try to figure that out internally before you present an erroneous interpretation - to make sure that community members who look up to you with high regard don’t misunderstand.
Dani: I don’t have any concerns about that. If someone has concerns about me, I feel like they should reach out to me, like the moderator, need to talk on a private Channel.
8 Liquidations
Dani: First of all, you should calculate people that borrowed money against their wmemo and the backing price, and look at how much they borrowed. Take that off, because that’s money they got in their hands. They were not leveraged. So they got liquidated and they had losses and this is what I need to take in account. So it’s not everyone which I consider that I would refund. If you were leveraged - even if I have the money right now, I would not refund you. But if you were not leveraged and you were defending the backing price for your loan. That makes sense.
On the other hand, the bear market has come. So it’s not very easy to refund all the people. So I’m just trying to figure out how to do it. So, to manage expectations, it is what it is.
Matt: Can you say, “Hey, you can email me here at some email address” or “you can send me a DM” or make a channel for questions that would be directed towards you. At the top of the channel, we just pin your statements and then if someone has questions, they can just load up in there and you can respond to them when you want, if you want. So like #blame-Sifu, I guess.
Dani: Ah yeah, #blame-sifu. Okay.
9 Bribes
Dani: I hear that it was 100% APR on CVX assets?
Alice: I believe that´s what was listed in the official announcement at the time. If you look back in the announcements channel.
Dani: Okay. Let’s pay it. Let’s calculate what was the period in which it was used and we pay it. Right? We have the money in the wallet. So it’s just about sending the transaction. So if that was exactly what was stated then that is exactly what is going to happen.
Matt: Can you provide some assistance in making that calculation?
Dani: I’ll take a look with the guys and try to come up with the number, yeah? It’s going to require weeks, like it’s not going to be like instant. But yeah, sure.
Matt: You mentioned finishing it off by the end of September, right?
Dani: Yeah, like 20 September.
Matt: Okay, so we’ll reach out beforehand and get a figure when you create the figure. Can you provide some sort of outline of where you got the figure?
Dani: Of course.
10 Conflicts of Interest
Matt: The expectation is that you, or anyone else who proposes a strategy to the council - if Abracadabra will receive any form of benefit from the activity, whether directly or indirectly, you would disclose this information to the council prior to the vote for that strategy. Would you acknowledge and accept that expectation?
Dani: Yeah, sure. Like, there is always a benefit of using any other protocol for the other protocol, right? It’s obvious, but if there is an additional benefit it would be disclosed so you guys can think about it. But if it’s the best strategy, it’s the best strategy, right?
Matt: Yes.
Dani: So, in the case of MIM3 pool, it is the best farm. It has the highest apy. So, is that a benefit for Abracadabra there? There is more liquidity.
11 Abracadabra Personal Debt
Dani: Abracadabra Debt is just that I have different wallets. So I didn’t want to link the other wallets to my main wallet and as I mentioned I need to send the money to this wallet from the normal way and it’s going to take me a while but I close my personal debt there easily. It’s really, it’s not a big deal, and I’ll see what else to add.
12 Personal Stake & Team Allocation
Matt: Do you have more than 1000 USD worth of wMemo?
Dani: Yes.
Matt: Have Wonderland assets been diluted since minting was stopped in January?
Dani: No, no dilution has occurred since minting stopped in January. There has been no team allocation since minting stopped and there will be no more team allocation in the future.