Everyone who was unfairly led into holding their investment in MEMO/wMEMO should be compensated for Daniele’s negligence and lack of authority on the situation. Those who sold while hearing about the news should not be penalized for trying to salvage their funds while they can.
Some other discussions suggest a buy-back at treasury value, which may leave out those who have already sold their MEMO/wMEMO at a huge loss. The best course of action to include these individuals, while also rewarding Wonderland’s truest believers, is to:
(1) Liquidate the treasury
(2) Airdrop treasury funds proportionally to MEMO/wMEMO holders using an algorithm that accounts for each individual’s amounts of MEMO/wMEMO and the length of time held/staked.
(3) If Wonderland wants to continue, the team can buyback the remaining wMEMO & replenish the treasury with personal funds.
From here, if anyone wants to continue following Daniele, he and his team can use their personal funds to build back trust. I believe that liquidation of the treasury and using personal funds to build back the reputation of Wonderland is the only way it can survive and create meaningful partnerships with others. Our history is now Sifu’s history, and the world will react to a partnership with Wonderland the same way we all did to the news regarding Sifu if something isn’t done.
Wonderland should not be able to use the funds of us investors to build back the trust they lost. Those who still believe in Wonderland should still be able to see the vision through if they truly believe in it by purchasing the remaining MEMO/wMEMO from straggling holders at the current market price, replenish the treasury using personal funds, and continue moving forward.
On Snapshot Timing
There should be a new snapshot created that accounts for all Frogs that have been misled by the Wonderland team. The snapshot should occur on the latest date before the Sifu news was made public. After the Sifu news was made public, the most logical decision for most people has been to salvage their earnings, and these Frogs should not be punished for their choice to sell.
The news was made public by @zackxbt.eth on Twitter @ 1:47 AM on Jan 27, 2022. So, the snapshot should be made within 24 hours before that time, to encompass the affected holders.
Wonderland DAO should move forward by liquidating the treasury and airdrop it to holders/stakers using a snapshot dated within 24 hours before the news of Sifu was made public, to account for all holders who were affected and may have reasonably panic-sold due to the discomforting news on Sifu. From there, the Wonderland DAO can choose to move forward with using personal/new investor funds.
- Liquidate Treasury & Dissolve Wonderland Forever
- Liquidate Treasury. Wonderland Team + Investors Use Personal Funds to Buy Remaining Assets & Replenish Treasury.