Well, needless to say, that WIP #4 (Wind down Wonderland, and give the treasury back to its holders?) is going to pass. At the moment of writing it already has 76% of votes for “YES” option.
But it is really unclear in WIP #4 how the funds will be actually redistributed among the holders so I’ve decided to make this post to propose some ideas:
Part 1. Wonderful Case, 2 snapshots
In this case we will take two snapshots:
First will be made a week before all information about Sifu came up (Jan, 20th 12:00 UTC)
Second will be made the next day after all information about Sifu came up (Jan, 28th 12:00 UTC)
Next step - compare these two snapshots and reward those who are on both of them. This will help us to prevent depleting treasury by whales and arbitrageurs.
I am not totally sure whether it is possible from the technical side so I’ve decided to make part 2 with the less pleasant case.
Part 2. Less pleasant case
In this case we will take only one snapshot - the next day after all information about Sifu came up (Jan, 28th 12:00 UTC). We can face some bad actors who bought the dip hoping for easy profit. TVL
on this day was extremely low but i guess there were still a plenty of such people.
Part 3. How to redistribute the money
Swap all volatile assets to stablecoins (it might take a few days but it will be worth it because if people get volatile assets ($AVAX and so on) they can cause a huge sell-off and some ordinary folks will lose even more money
Redistribute ALL treasury funds according to the number of coins a person is holding. In previously mentioned “Wonderful case” this will lead to the fact that many will be able to return a fairly solid amount
Tbh this is a really raw idea, i guess something more efficient can be made. Anyway, the main thought of this proposal is to take a look at my snapshots ideas. At least them are smart and quite fair in my opinion.
It is really hard to say goodbye to this project. I’ve met a lot of interesting people here and I’ve spent a lot of time researching and making things to make this DAO and community better, I’ve gained a lot of amazing experience here. But if we wind down Wonderland - it needs to be done in the most fair way for loyal holders.
Which snapshot case do you prefer?
- Explained in Part 1 (Wonderful case)
- Explained in Part 2 (Less pleasant case)
Do you agree with this redistribution mechanic?
- No, something better could be invented
P.S. Guys, I understand that this writing is really raw and these ideas potentially have a lot of cons and drawbacks.
But I believe it can push some more competent and smart people to think about it. I guess together we can come up with something rather fair and intelligent!
I am not personally a fan of “Redeem button” idea so I hope we can invent something more reliable!