Currently there is a hard requirement that will only permit WIP proposals to be pushed to a snapshot vote for holders of 100 MEMO and above. This requirement has skewed the wonderland governance agenda to be pushed by founders and a small number of whales. This state of affairs is completely contradictory to what the Frog Nation stands for.
- Our founders have proven that they are not completely transparent or reliable. We cannot just blindly follow in their footsteps as we have been doing with Sifu.
- Whales dictating the direction of Wonderland is the anti-thesis of what Wonderland is about and have proven time and again that they often do not have the best interests of the small frogs in mind
- Holders that bought in at ATH at 9k and diamond handed through all of this turmoil, likely have less of a say than someone buying in at the current price point.
If you take a look at the current snapshot proposals, the vast majority of entries are from 0xWicked/Dani.
To let a greater number of frogs have their voice heard, we should consider reducing the minimum requirement from 100 MEMO to 10.
Yes we will get some oddball proposals for donations or wen lambo, but if OHM snapshot history is an indicator, these are largely ignored or shut down on the spot.
In summary the quorum requirement of 5k should stay but the MEMO requirement should be reduced.
If you make a good proposal here on the forum, I think someone with the 100 MEMO will put it forward.
You should say which proposal(s) you want to put forward but can’t, through lack of MEMO.
Show us there is a problem before we look for a solution.
This is a critical time. It wouldn’t be good to have a lot snapshot proposals to consider.
Depending on someone with 100 memo clearly is not working out. There are a lot of good ideas on the forum that never sees the light of day. Only the proposals being pushed by the founders are posted on snapshot.
Once again it is very contradictory to claim Wonderland represents ‘Frog Nation’ when only a hand full of elites actually gets a say in what actually occurs.
Keep in mind that with this proposal, large holders will still have the most weight in the votes. The 10 memo requirement will only ensure that proposals are actually voted on and taken seriously. The 5k quorum still stands
As for this being a critical time, I understand. This proposal will likely not be voted on until things have stabilized a bit.
Please list top 5 ideas that should be proposals right now but aren’t because small frogs don’t have the MEMO to make the.
We will see if we can get them put forward, If not, then we know we have a problem.
This is really interesting.
Do you happen to know of a web site where you can vote to rank things in a list? I was thinking we could put proposals into a list and then vote on them, to see which are the most popular, and that would make it easy for Dani etc to see what was of interest to the community.
Most proposal are never submitted for RFC. The owner of the discussion needs to push it. Wicked has mentioned this in the past.
I know what you are saying, and I get why, but the issue isn’t the limit on snapshot. The issue people are not following the process. There should be no limit to put something on snapshot, but you also shouldn’t be able to post anything without the proper process being followed (could be a process for emergency situation like the current one).
Also, lots of traction doesn’t mean positive feedback. The one to repay liquidations past backing was 70% no. One could argue it would have been worth voting and settle the issue, but those liquidated didn’t have the power to vote anymore… Either way, Wicked decided it was not worth the push given the majority not wanting for it to go forward.
You are correct that the process should be followed. It is just that the 100 MEMO requirement acts as a psychological barrier to most posters. They know that they will need to both gain positive traction, carry it forward to RFC and WIP… and after all that work, they now need to lobby a whale to push forward their snapshot. A whale, founder or dev has a much lower barrier to overcome.
This very post is a chicken and egg condition because it is not in the best interest of the whale to push this proposal to snapshot. Proposals like this are pretty much dead on arrival by design
Yeah, I think it’s more of a changing the process to if the RFC is positive or something, the team will push it to Snapshot.
The issue with lowering the amount is the potential level of people that will go straight there. It was 5 when we lunched in November and the first 2 (in a few hours after launch) were questionable.
Anyway, agreed that this needs to be improved on.
Frogs with at least 100MEMO please use this and put in on to the snapshot!
Wonderland with the current structure model was able to attract 1billion $ of treasury funds to earn 1million $ per day for the treasury growth.
Moving to a revenue sharing model will let all holders benefit from the treasury.
But due to the utility of wMEMO to be able to use as collateral, has cause to multiple liquidation cascades, if wales dump wMEMO.
The problem with the rebase model has obvious failed, additionally to the liquidation cascades.
Every user could have jump into MEMO right before the rebase and sell the tokens immediately, which has caused a depreciation of the price of wMEMO
The possible solution could be (as planned):
- Moving from rebase model to revenue share.
How the UI could look like:
Post from The DeFi Edge:
- wMEMO won’t be used as collateral anymore.
Their is no other protocol in this space available yet, with the utility to have a fund with a revenue sharing model.
There is no other project out there which could compete with wonderland, if we bring it to the right track again.
The treasury is healthy and ready for a new CFO to take over.
The community will vote for the next best CFO.
Improve the treasury to make it more efficient. It earning about 1million $ per day at the moment. It will earn much more for us holders if we let it continue to work us.
Give wonderland exclusive access to abracadabra for unlimited funds to create the biggest DeFi fund on this planet.
Give Dani a second chance.
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