This is a proposal to extend the time given to find a new management team and multisig.
5 Days Is BS!
From original forum post:
“Due to this we think that if the proposal is voted against, and no counter proposal within 5 days is made by the community with relevant people who are willing to take over the multisig and willing to take on this challenge, we will still unwind the treasury. We don’t want anything to happen to users’ funds, and we would not feel confident to delegate the whole treasury to a non-structured replacement.”
Personally I still hope to invest in Dani’s project, his mistake on trusting a scammer is not relevant to his vision, passion and investment insights.
But the buyback mechanism must be transparent and 100% implement the buyback promise when it’s below. No confidence on the token price if this is not guaranteed.
This is SO important!! We need time to find the right person if we really want this project to succeed… it does not sit with me well the fact that the proposal was like “if YOU GUYS don’t find a replacement within 5 days sucks to suck we’re ending the project anyway”… like what?!
If people want a payout, that needs to be set up and available immediately. This extension should not affect that. People who want to leave should leave cleanly and let the people who stay move on without a fuss.
Its hilarious, this is still arguably the largest crypto hedge fund/VC fund. That alone comes with a lot of weight and marketability. We could very easily reroute focus on sustainability with low risk investments then work our way into more risk heavy profit sharing options. I mean there is still currently 700m (even though much of that is leveraged) to put to good use making this experiment very profitable. Liquidating the treasury at a loss for almost everyone is just so stupid. We are already red. Just regroup and make it green.
@DerekBoyd I completely agree but how do we formal recruit a professional team with no structure at all? How would we incentivize individuals to take over the protocol? Give them a salary through the treasury funds? It’s hard to even get everyone together to make a decision on rebranding/investment strategy. Not sure who can even take the reins on making these decisions
As many have proposed so far, simply recruit those who are doxxed or willing to be doxxed. As for how we get to that point, I don’t think it will be too hard to find quality candidates.
Firstly the allure of managing a near billion dollar asset will entice many hedge fund types. Of course this will invite suits that many here are weary of, however given the situation we may find ourselves in the position of beggars can’t be choosers. We could always transition into a temporary management team until a more suitable replacement comes along. Plus there are other’s in the crypto world who have made a name for themselves as competent investors/inventors/managers. Once again we take advantage of the marketability, the allure of the sheer size and of course the attraction of compensation. As other’s have proposed in various threads there are numerous ways to divide profits grown from the treasury and these include payments to managers.
As for how we do this, the same way we are doing everything else. With a vote. This is community driven experiment for a reason.
Daniele should have connections in the space and recommend people… us frogs over here on Twitter really supposed to pull someone legit out of the woodworks? Like wtf? Ridic to even propose that.
As it is right now in the current state the project has still the power to recover to its glory and we are all in to it. I believe in this project and any fast decisions could kill good project. Sifu is only one man and there is thousands of faithfull investors in it that is selling off there investments. it is like rats running from the ship way way before it will drown. Daniele is a good leader and we need just a team to manage the tresury and this will help to recover and make more than ever. Dont give up. I dont
The proyect should go on , the treasure is down from 1 billion cos the market has been down during the last 3 months. If the market goes up the treasure will go up as well as our wmemo and the fudders will be silenced. We just need somebody with good reputation managing the treasure along with daniele, it is clear to me that will all that FUD a lot of people sold their wmemo under the treasure value, it doesnt make any sense unless they believe the funds will be stolen. I will vote no to wind down wonderland. I am suffering a lot of losses as most of you , but the proyect well managed and if the market shift back up will let us recover from our losses
What kind of payout is being proposed?
Would holders get a certain amount added to each token they hold?
it’s impossible to get back to peoples original investment.
I just joined the discord to vote on this now that i have so much in the balance of what happens from here. Forgive me if I don’t know where to look for these answers.
If the ‘right’ person(s) is interested and if the vote to return the treasury to holders is no, they have 5 days following the vote to make their case.
There is no “we need more time to find the right management team”, it’s pretty clear no one with the right credentials wants to be anywhere near this, and can you blame them.
People capable of managing a treasury this size will already be doing it. Anyone not capable of building a treasury this size has no place managing one.
It’s dead people, accept it, take whatever money is still available and move on to the next one.
Extending the timeframe would benefit the project as it gives the community more time to find a proper replacement to Sifu. If you’d like to read my proposal, please visit: Proposal: CFO Position for Wonderland