Proposal: Reject Merger & Reimburse wMEMO/TIME holders using Treasury Funds

General Discussion
23

Wrong. Idiots like you are why we are going down.
They are buying the $800 million treasury in SPELL. Those SPELL will be distributed to wMEMO holders. Backing price represents the value of treasury per 1 wMEMO. You can then sell SPELL on the market.

2 Likes
24

Correct me if I’m wrong but we are all about to be paid out at the backing… Which is the value if every token is sold. On top of that Sifu and Dani have decided to pay people back who got liquidated below them out of their own pockets. So everyone but the people who took risky leverage is already being paid. Sorry this is just spiteful to kill the project some of us would like to continue and reward the people who were greedy and were a factor in the cascades.

3 Likes
25

I remember this liar Sifu, he said, that it’ll be best idea to hold wMemo during bear market, becuase they’ll earn a lot of money from seed investments and for providing liquidity.

What if we’ll enter prolonged bear market? There is no such a thing as backing price for Spell.

I lost so fuckin much money on this fuckin shitcoin…

26

You are 100% correct

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27

Spell will tank massively as everyone rushes for the door. So Sifu said like 40k per wmemo in spell. Which means by the time you sell you will get way less most likely. Better to buy us out from treasury and then if we want spell we can buy on open market

3 Likes
28

You’re the only idiot here.

If this merge is going to happen, then there will be MUCH MORE Spell in the open market, it means that the value per Spell will be much lower than it is now.

Simple mathematic.

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29

Yes, that’s true.

40k of spell as of right now.

There will be 98B more Spell in the open market, I think, that it’s a fuckin huge inflation.

It means, that we’ll have much less than 40k :slight_smile:

30

looks like you didn’t understand what actually was said u idiot, go to daniele tweets and read them, what he was saying is that wMEMO will get an X amount of SPEEL a constant ratio. and then the treasury will be used to deploy different strategies from Abracadabra that can customly deployed. we will all just be the biggest clowns of all time

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31

Has anyone thought to run the numbers on the various scenarios?

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32

The merger is abysmal. Essentially they are saying, “wonderland failed so now we going to reward this other protocol with your funds so they can proposer while all you wonderland backers get hosed.

I understand that thought process that wonderland is now radioactive and can never recover so kill it and try to pump up another one of their projects by a different name. But who cares about Dani and Sifu and their babies. They screwed us hard. Give us what you can from treasury, our treasury, and then do whatever you want with what’s left if anything

33

Super agree, bought 2 months ago at 8900 and tried to short to recover some losses yesterday after months of holding, but nothing, a lot of promises broken and this won’t have a future and we are all bleeding badly

34

GUYS! Let’s stop and think for a moment: we have $700M in the treasury. Sifu says it earns $1M a day at $1B treasury, so let’s assume the smaller treasury earns around $600-700k per day.

Let’s not vote to shut the project with everyone at a loss. Let’s vote to take it over – just like Dani did with Sushiswap. Let’s remove Dani and Sifu and institute a 50% sell tax. That should halt whale manipulation and crazy negative price action.

Then we take a snapshot of all current holders and make a record of the price they bought at/what they’ve lost.

Then let’s employ a new, experienced treasury manager (secured via a new multisig) to grow the treasury as Sifu did, even without lots of new investors. And 1 year from now, we split the treasury profits between all holders at the time of the snapshot, with a view to making everyone whole. Then from that point on, all profits get split monthly among all holders.

8 Likes
35

120% supporting this proposal

36

This would actually go a long way in retaining the rep of Sifu and Dani. I hope they do this, cut their losses with Wonderland and move on. They can do whatever they want with Abra, I’d probably part ways at that point too.

37

You guys are insane. That would mean we all get less than break even. Just vote no for the merger and let Wonderland fulfill it’s full potential

4 Likes
38

I was thinking the exact same thing. There are way too many issues with this protocol. The best way forward would be to distribute the treasury to the holders. Most of the people in this protocol are currently in the red. We believed in the project and in Dani and Sifu’s vision, but the last straw has been broken.
Buybacks don’t work and promises of revenue share have still not been actualized. Airdrop was promised weeks ago.

All the assets in the treasury should be converted to MIM, before being distributed.
I believed in this project but right now this looks like the only way we all might be able to at least break even.

1 Like
39

Lol that’s what they are doing. They are paying everyone the balance of the Treasury which is about 40k per wMemo. That’s the merger! If you sell great. If you stay with the project on the new format great.

On top of that they are paying people back that got liquidated below them out of their own pockets.

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40

agree
that is a good idea

41

I mean a more reasonable request is to ask them to let people sell to MIM or to Spell. Mim if you just want out and Spell if you want to stay.

1 Like
42

This seems like a great idea! if we get an allocation of spell most will end up dumping the token as well.

I get that Dani is trying his best which is something we all appreciate but doing this will probably be the best decision for everyone involved.