I’ve developed the below proposal because I’m a believer in the direction Wonderland was going. Like many of you I believe in the core concept and the vision of the project but feel that it was missing some key components. Adding transparency to rebuild trust and developing a roadmap with the key objectives for the next year, would help the project become more sustainable and create realistic expectations.
My proposal is as follows:
We would restructure the team to include key positions of CEO, CFO, CTO and Head of Internal Audit. We would also hire a mid-level accounting firm such as Grant Thornton or BDO to audit the financial statements. Audited financial statements would be published on the website for the Frog nation and the general public to review.
A Board would be set up with 3 members – 2 members from the company the CEO, and CFO as well as 1 outside Board member. Each of the 3 Board members would get 1 vote. There would be a poll for the holders of wMEMO and have their polling vote would count as 2 votes.
The funds would be invested in startups and existing companies that show great potential to go public.
Companies that are looking for investment from Wonderland holders would present in front of the wMEMO holders and the Board. After they present, wMEMO holders would vote whether to advance them to the next level. If they pass the second level of due diligence and review, the community and the Board members would vote whether to move forward and offer a term sheet. wMEMO holders will have ownership in each company the community invests in and the revenue companies generate will be dispersed based on wMEMO ownership.
Fellow Frogs, I’d like to make this a formal proposal if we have enough interest. Please comment and leave your thoughts.
Great start. Basically this becomes a Warren buffet like investment fund. We just need smart people to make investment decisions. I think we should be able to purchase protocols as well as offer seed money.
Completely! As we go we can add wMEMO tokens that would represent different funds that that token has invested in so in essence some wMEMO could be more valuable than others depending on what companies that wMEMO is invested in. When you trade your wMEMO you also trade your returns.
I agree TW doesn’t need to just invest in Crypto projects and that’s why we would develop an investment guide/overview of what the fund invest in. I know there is, I managed one for over 12 years so I know how it works.
TW from my understanding was developed to be a new way of investing. If we invested it with a fund we as TIME holders wouldn’t get a high APY and the return we would get would be so low that it would take forever to get us back to breaking even.
What made you interested in investing in Time Wonderland?
Yes I see your point about the time it would take to turn a profit. And of course I got in bc I was hoping for high returns over the course of about 12 months.
Since then, however, I have become more interested in this project for other reasons. A DAO having control of an investment fund like this, seeing how the DAO operates and reaches consensus, consensus mechanisms. We could potentially grow the way that DAOs actually function. While I don’t expect to get my initial investment back any time soon, of at all, I want to be a part of this movement and to see where it leads.
Couldn’t agree with you more. I believe that no one is expecting to get their investment back for at least a year. That’s why I believe that the people that want to be apart of this project commit to a year with what’s remaining in the treasury and we lock it and get it working for us. It’s not going to grow if people keep coming and going at will.