PROPOSAL - Framework for Governance, Tokenomics, and Treasury Management

PROPOSAL - Framework for Governance, Tokenomics, and Treasury Management [NO ATTEMPT TO TAKEOVER OR MAKE WHOLE AT PURCHASE PRICE]

[PROPOSAL] Wonderland Framework

  • Point 1. Consolidate and freeze all treasury transactions
  • Point 2. Remove the 5 day requirement to replace management
  • Point 3. Wonderland Leader
  • Point 4. Wonderland Team
  • Point 5. Wonderland Governance Team (Board)
  • Point 6. Tokenomics and Treasury
  • Point 7. Rescue Fund
  • Point 8. Allocation of treasury proceeds

0 voters

This a proposal to put a governance framework in place at Wonderland without rushing to any sort of hasty hiring decision. There have been a number of proposals pitching new fund managers or “making things right”, but none focused on an actual framework for running Wonderland.

To this end, I would like to propose the following points for consideration. I also note that I have no meaningful economic incentive with this proposal. I do not propose myself for any of the roles. I have 1 wMEMO, have had MEMO since November (buying and selling at highs and lows), and voted no to dissolving Wonderland. 1 wMEMO is not financially significant to me so I am not being swayed by financial outcomes. I simply believe Wonderland deserves a better ending than dissolution under these circumstances of FUD and whale games. I’ve enjoyed my time with this community in good times and bad, and hope to see it somehow fight its way back against all odds.

This proposal builds on a comment I made in the forums referenced here => Don't Panic Proposal - #26 by sech.

POINT 1. Consolidate and freeze all treasury transactions

There should be absolutely no transactions of the treasury immediately OTHER than to fund a third party audit of all treasury proceeds. All personal wallets being used to hold treasury funds should be immediately sent to the treasury within 48 hours. Any funds in the treasury should be considered Wonderland assets.

POINT 2. Remove the 5 day requirement to replace management

It’s not necessary if the treasury is kept intact. Rushing to replace management will only lead to poor decision making.

POINT 3. Wonderland Leader

It must be Dani. He must stay in the game. Without him, there is no Wonderland. He will be responsible for community building, partnerships, and overall strategy. Basically, just keep being Dani. He should not have unadulterated access to the treasury, and should have to work through the treasurer and board.

POINT 4. Wonderland Team

Without Sifu, we will need a new treasurer. It could be a full time person or an organization, but all individuals should be fully doxxed. This person should be responsible for laying out a strategy for the treasury for the governance team to review and approve on a monthly basis. To allow for agility, the treasurer will also have the authority to make autonomous decisions of up to X% (assuming something reasonably safe like 10%) of the total treasury value but should notify the board no later than 48 hours after the transaction.

Marketing is a full-time job and cannot (should not) be handled sufficiently by Dani and a treasurer. So we should fund a marketing manager as well. The marketing manager will be responsible for branding, marketing, PR, managing Discord, social media, and other matters.

POINT 5. Wonderland Governance Team (Board)

Wonderland has been lacking checks & balances. This proposal is for 3 individuals who will have oversight, be on the multi-sig (along with Dani and the Treasurer). The board should approve monthly strategy, transactions above the treasurer limit, hiring/firing of the team, changes to tokenomics, and other matters of governance. Board members should be elected in by Snapshot and need to be re-elected every 12 months. Board members can be removed via Snapshot vote by a 2/3 majority vote.

There should be no commingling of funds between Wonderland and any individual. All Wonderland wallets should be public and complete. A separate wallet should be established for operating expenses (see below).

An annual audit should be conducted accounting for all treasury and operating expenses.

POINT 6. Tokenomics and Treasury

We should remove rebasing and move entirely to wMEMO. No more TIME, no more MEMO. It’s confusing, unsustainable, no longer necessary, and focuses on the wrong thing (crazy high APY vs. investment). Value should derive from use of the treasury. The use of the treasury should to generate profits via yield farming, partnership investments, and venture investments. The specific allocation should be determined by Dani and the treasurer, and approved by the board.

Once the team and board have been filled, wMEMO holders can stake their wMEMO for revenue sharing.

Profits, determined periodically (as determined and approved by the board), should be distributed as follows:

  • X% to Dani
  • X% to the board
  • X% to the treasurer
  • X% to the marketing manager
  • X% to an operating fund
  • X% to a liquidated frogs rescue fund (see below)
  • X% to staked wMEMO holders
  • X% to the treasury for reinvestment

POINT 7. Rescue Fund

Although there is strong sentiment that liquidated frogs should not be rescued, This proposal contemplates providing for those who were liquidated below treasury backing pricing. There will be a form where holders can submit their liquidation proof or we can perhaps determine it via some other means. But there will be a deadline to fill it out and subsequent to the approval by the board, a % of profits will be used to distribute to the rescue fund in the form of wMEMO tokens that will be automatically staked and locked for a period of time.

POINT 8. Allocation of Treasury Profits

This proposal leaves out specific numbers because the framework points and specific %s can be approved independently. The board should also have the authority to make slow changes over time (perhaps a limit of no more than 10% swings per month). However, this proposal was also created with some ranges in mind so they are provided here for consideration:

Profit sharing:

  • 1.5% to Dani
  • 0.5% to Split among board
  • 1% to Treasurer and staff (as approved for hire by board)
  • 1% to Marketing Manager and operations staff (as approved for hire by board)
  • 1% to Operating Fund
  • 0.5% to Rescue Fund
  • 50% to Revenue Share to staked wMEMO holders
  • Remainder back to Treasury for reinvestment

There is some error at vote it does not register.
I like the proposal !
The fund and the community really deserve a future.

Why wouldnt you just pay people a normal average salary for what they are doing. Instead you are saying pay them 1%. so for example if it makes a $100Mill profit they get a million each ? Are you crazy!

What companies offer those salaries to employees ?

Its quite obvious a lot of the people commenting on these threads have never owned a business before or have financial knowledge on how things actually operate

Yeah not sure what’s wrong. Will try to debug later. Apologies.

Your assumptions about who has and has not run a business are incorrect ser. I separated the specific % from the framework so we can discuss how to recruit and retain the best talent. If we were so fortunate to be able to make $100M of revenue from the treasury, I for one would gladly give up a % that is actually below most defi projects and commensurate with how funds and startups reward management. $1M salary tied to making $50M for frogs is ok by me. But we can definitely discuss as a community.

Please dont make assumptions for other people. Some things on this are great, others I totally disagree with.

Please do lay out your concerns. It will only strengthen the proposal and community. We are in violent agreement on not making assumptions about others.

Looks like wonderland is dead anyway… rigged voting

Doesn’t look dead to me – NO vote is ahead.

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Better to attract good talent with a decent offer than scrimp on incentives and end up with mediocrity…


Most well-defined and best laid out proposal I’ve seen yet. Thank You! Even if people disagree with some points, it’s an excellent basis for discussion! Hopefully the RFC will show up soon.

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was different at time of posting :stuck_out_tongue:

1 Like

I get 500 error when trying to vote

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