No to Wonderland 2.0

  1. Create a greater product differentiation within the Frog Nation ecosystem.

A) This needs to be more detailed. This is a very broad and has no direction. What is it, what does it do, and how long does it last?

  1. Alter the incentive structure to reduce overall volatility of the underlying asset, while still retaining a market premium over backing value.

A) They are saying to change the incentive structure to reduce overall volatility of the underlying asset, but keep it above the backing value. To be able to do this you need to lower the returns drastically down and set a staking time or lock period probably something like a six months to a year.

  1. Alter the governance structure to achieve a better balance between long-term holders and short-term capital and to give both confidence in a robust control structure that protects assets.

A) This makes no sense. Both off these items are the complete opposite of one another. We are either a long-term holder DAO that pays out 1 to 4 times a year or a short-term holder DAO that has ups and downs like we’ve seen. This also goes against point number 2.

  1. Fee structure that incentivizes longer term investors rather than shorter term momentum speculators

A) Their needs to be one fee structure and that’s for long term holders. No VC, Hedge Fund, PE group lets you cash out whenever you want. They lock the cash up for period of time and invest it and pay investor a return and periods in time. Wonderland should be no different.

Phase 1

doesn’t need to happen and it’s a lot of unnecessary work. Keep what we have, hire the write people, develop more ways to be transparent and go invest the money. Returns need to be based on the wMEMO you currently own. See below for example. The investments need to be voted on by the frogs. The reason for that is if we have a bad investment, we the frogs don’t point a finger anyone but ourselves. If we vote on it as a group and approved it as a group, we have no one to blame but ourselves if it doesn’t perform. We the frogs own our wins and losses no matter what. The last note is why are we going to let anyone transfer hundreds of millions of dollars and run the risk of something not showing up or something happening. The safest place is where it’s at not transferring it to just makes it riskier.

Phase 2

All frogs need to be paid the same. It will become way to difficult and costly to track how long someone has been in Wonderland to pay them the right amount. Also, if someone wanted, they would just leave the smallest amount wMEMO in their account and they would always get the higher return because it’s based on how long you have it not how much you have.

Community Governance

I feel this is a better structure for oversite.

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

Team & oversight committee

No need to employee all these people. This is making something very simple very complicated. Every investment group out there that invest in startups or late fund-raising rounds don’t have all this. They have a managing partner, partners and support staff.

Oversight Committee

No reason to have this. By putting in the key people i.e CEO, CFO, CIO and an auditor, along with hiring an accounting firm to do yearly audits would be just fine.

Phase 3

No reason to spend money on this stuff. If you have money to invest in startups you’re going to be welcomed with open arms from each and every one of them. Anyone that’s staying in doesn’t need to be convinced to stay from marketing adds or a PR team. When it comes to everyone else who cares what anyone else thinks. We will let the returns speak for us.

Ser, please provide your feedback on the RFC for everyone to see instead of a new post that may just end up lost in the mix.

Also, using the quote feature from Discourse would make it easier to distinguish your feedback from the proposal info.

Like this:
Feedback blah blah

Proposal info blah blah blah.

RFC Link:

This makes a lot of sense to do things like this. Something else that can be done is the people that want to leave Wonderland can but make it where longer they stay they more they get back closer to the backing price so we don’t have a large liquidation of wMEMO. If people are 90% down because they got liquidated it would like something like this. 25% of that back for staying 90 days, 35% back for staying 180 days, 60% for staying 240 days and the full amount for staying 365 days. Who’s to say we won’t have a big sell off of wMEMO if we are going to back it at the backing price.

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