How to fairly redistribute treasury funds/take snapshot after Wonderland shutdown

[kr4chinin]

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:

1. First will be made a week before all information about Sifu came up (Jan, 20th 12:00 UTC)

2. 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

1. 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

2. 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.

Conclusion

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?

• Yes
• 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!

[DrunkenMaster]

It won’t happen. Whatever wMEMO people have in their wallet is what they can redeem.

Imagine a situation where they say that everything will be based on a snapshot. Anyone on the snapshot will immediately go and sell to add free cash into their bags.

The devs/Dani can figure this out and they won’t want to have the bad publicity and legal action which would follow them.

What can the devs do that will cause minimal come back? Have a redeem button on the web site to redeem stables for every wMEMO. That is the easiest thing they can do. That is what they will do.

[NoCat]

OMG! does it have to be wrapped? Site has not let me wrap. I’ve been staking and have MEMO for a while but never wrapped. What’s the truth here?

[lukemallorca]

The treasury was used to buy two projects. Something which isn’t talked about anywhere.

A lot of things were promised before this event happened and those promises should be fulfilled.

If wonderland ceases to exist then those of us that invested and are still here should have a right to the equal distribution of all of wonderlands assets as this is s dao and everything is owned “supposedly” by the investors…holders of wmemo.

Nothing is mentioned anywhere about this.

Also…what’s the rush?? Everything is still super emotional. Why not give it a couple of days to cool down before rushing into any decisions?

[kr4chinin]

I guess you can somehow wrap it on abra as well!

[MMD]

1. unstake all position
2. undo all leverage positions
3. sell of all assets in other chains apart from AVAX (as WL is an AVAX protocol)
4. distribute all assets in the proportion of holding. this will include locked (redeemable in future) assets as well

[SaintofLastResorts]

How so it was voted by the dao

[MMD]

Infact since most of the treasury is deployed with some in wallet…we can wait a long time…LOCK the treasury…no buybacks…no fresh investments…infact all the tokens in the wallet (of treasury) that can be staked/pooled…better put them to the stake or pool…sit back…let it go on auto pilot mode…what’s the hurry to disband…anyway MINTING is not happening so no one is getting any extra advantage or disadvantage…

[NoCat]

You should tweet and post this on reddit. This is another big source of wealth that we deserve if the liquidation happens, which now looks inevitable. I will post abut it too. Dani not talking about it at all. And I also don’t get the pt about the treasury’s wMEMO not being part of the re-distribution. They should sell it for whatever they can get now and add to the MIM/AVAX we will get.