Reinstate Sifu as co-Treasury Manager for a Term of 6 Months Along With a co-Treasury Manager

General Discussion
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Now that the vote has passed to keep Wonderland intact we need to focus on the management of the treasury. The vote to remove Sifu was a highly emotional vote that took place in the current down market. Sifu did absolutely nothing wrong as treasury manager. He was doxxed (he should have been doxxed from the beginning) and the initial panic of the news on top of the down market initiated a wave of emotions that led to the quick removal of Sifu from treasury management.

Now that he has been fully doxxed and we are aware who in the Wonderland management team is on our side and who is not, I am prepared to put forth a WIP that would give the community the option to reinstate Sifu ONLY as a co-Treasury Manager for a 6 MONTH TERM alongside another fully doxxed co-Treasury Manager who would be elected in a separate vote.

Sifu’s co-Treasury Manager would work alongside Sifu on a daily basis to co manage the treasury funds. This should alleviate the worries of Sifu running off with everyone’s money in the middle of the night. Sifu understands that the majority of the community would like to see the treasury turned into a passive income stream for holders/hedge fund/VC for the Wonderland community. This would be the first of its kind in the crypto-sphere.

The co-Treasury Manager would not be someone who is currently part of the Wonderland management team. Instead it would be someone who is brand new to the team and fully doxxed. The Wonderland management team could put forth a handful of individuals with their resumes and the Wonderland community could elect them in a separate vote.

Another option would be to have Sifu be co-Treasury Manager alongside SkyHopper/Bastion. Sifu would be the point man who updates the community regularly on the moves that they are making with the treasury funds.

I understand how the community feels about Sifu and his past. Regardless, we need a Treasury Manager or Managers. I do not think we should allow Dani to simply take the treasury and combine it with another one of his projects. He made it very clear yesterday that he did not want Wonderland to continue. Sifu is a co-Founder of Wonderland whether we like it or not. He built the treasury and understands it. If we elect him to 6 month terms and have him co-manage it alongside reputable fund managers or a co-treasurer he will be able to guide them and help them understand how he built it and the direction he was taking it.

At the end of the day we all want the treasury to do well. As the overall crypto market continues to improve we will see the price of TIME improve with it. We need a Treasury Manager who will make great buys in a down market. Not a Treasury Manager who will use the treasury funds to bolster Dani’s projects.

EDIT: The proposal would be posted for a minimum of 2 days prior to voting beginning. Once voting begins it will run for a total of 5 days. This will give Sifu and others time to make their case on the forum, Twitter and in the Discord.

21 Likes
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I wholeheartedly agree with this; if Sifu comes back then the original vision for Wonderland would be reinstated and we can look forward to being a decentralised VC with revenue share and other revenue streams, such as airdrops.
Obviously I also have concerns. Firstly, would Sifu come back? Has anyone reached out to him for his thoughts on the direction of Wonderland? I remember from Discord he, like Dani, was pushing the merger with Abra, in fact, I think it was his idea. I am against this as I think they are just after using the treasury as a prop for MIM and Abra. This would be to the detriment of our treasury.
Nonetheless, Sifus input is essential to Wonderlands original thesis. I think it is effectively his baby. Dani seems lost for ideas and overwhelmed by the challenge.

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I agree. I do not think that a merger is the answer. I am not sure what the situation is between Dani and Sifu after the weekend. I think that we need a treasury filled with wrapped Bitcoin and Ethereum especially at these low prices. We don’t need a treasury backing Dani’s projects. Sifu is aware of everything going on so he will have the opportunity to put out an announcement on whether or not he is in support of this or other proposals anyone may have.

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Do you want to know who else understood finances and financial instruments? Bernie Madoff. And that turned out great for everyone. You can’t use"knowledge"of the industry as a reason to keep a man convicted of financial crimes in charge of a multi-million dollar project. Good God people.

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https://dao.wonderland.money/t/bastion-detailed-proposal-for-treasury-management/12453/10

Get rid of Sifuned Dani for good

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The is an interesting idea and I feel should be considered.

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I think wonderland is full of passionate people. Dani + sifu work wonders, or should I say wonderland. Anyway, don’t underestimate the amount of energy, motivation, creativity and innovation that may result from this. Taking the heart out of wonderland should not be the way. If wonderland is going to be the many first. Forgiving and acceptance at this level is definitely mind boggling. Maybe the way forward is following our hearts. I have no idea. But, I would support seeing Dani working together with sifu again. Dani trusts him, I trust Dani.

I suggest to put links and provide summary for some of the facts regarding sifu in the proposal as well.

A lot of people seems to have the impression:

  1. Sifu was in prison after Quadriga incident.
  2. Sifu was involved in Quadriga incident after released from prison.

Fact: Sifu was in prison before Quadriga scandal. He left Quadriga before the scandal.

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In my opinion, Sifu did do a great job at managing the treasury and also was quite active in the discord. I would be open to the idea of him having an advisory role within Wonderland. My concerns are

  • Would we still be able to get the best treasury managers for the project going forward or would the best ones be put off with the potential damage to reputation by working with Sifu?
  • Would other projects collaborate with us if he was still on the team? Quite a few big defi names said they wouldn’t work with us when he was originally doxxed.
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To be honest, People keep telling he stole something, and yet no one can even present the onchain transaction. Please dont say “what about tornado cash”, its BS. I hope those people step up and give a strong evidence not just BS FUD in discord.

On that note, I still do believe sifu is very knowledgable to provide recommendation of potential investment, so yeah an advisory role will be very good option, he doesn’t have to be a multi sig to get involve I believe.

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Mentioned that on twitter already. Timing of the last Sifu proposal / snapshot was not good. Support this proposal. Can’t imagine a better person for treasury managing at the moment.

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yep, yep, yep. wonderland is dani and sifu (assuming an audit clears him of any wrongdoing with wonderland assets. without them there is no wonderland i dont think

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Definitely need Sifu on board to help with the decision making process. He is a real Pro. But he should not have direct control over the treasury. Because investors all know his past now, and we do not want to scare our investors.

Remember Sifu is the reason for the treasury reaching $1B. As for the market value, who cares what the market thinks $wMEMO is worth, the market is full of idiots. If anything the mcap should rise to the same size as the treasury later on when the market suddenly realises the true value of Wonderland.

Sifu would need an incentive to keep working for us though. He has received a lot of bad rap.

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The Bernie Madoff crap is tiring to hear.

  • Did Madoff’s Chase bank account have a public wallet for you / everyone to see?
  • Did Madoff have a multisig in place?

ridiculous

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Is that you Sifu on a alt? :rofl:

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Fact checking is the most important work of a journalist/researcher. The problem is that zach just reveal a name and didn’t DYOR. It is amazing how the most reputable devs didn’t fact check, and how we trashed a person that was good to us.**

This is from the Ontario Securities Commission and the most important and OFICIAL report (2020)

(…) OSC Staff collected documentary, digital and witness evidence from both domestic and international sources, and spent months analyzing this data. We engaged external blockchain experts to assist us in analyzing the movement of assets to and from Quadriga.
(…)
Quadriga’s rise to become the largest crypto asset trading platform in Canada was fueled by rising crypto asset prices. Throughout 2015 and 2016, Bitcoin prices gradually increased and Quadriga experienced steady growth in its active client base and trading volume. Quadriga Abandons a Public Listing Effort and Cotten becomes Quadriga’s Sole Directing Mind In 2015, Cotten and Patryn took steps to take Quadriga public and list its shares on a stock exchange. At this time, the company operated out of Vancouver under the direction of Cotten and, to a lesser extent, Patryn. In the end, the listing did not happen. Cotten found the volume of work involved to be cumbersome and abandoned the listing process in early 2016. Following the abandoned IPO, Patryn left the company, along with the CFO, legal counsel and accountants.

From this point onwards, Cotten was Quadriga’s sole director and officer. He was indisputably Quadriga’s guiding mind, controlling and overseeing Quadriga’s operations. Cotten went so far as to tell new Quadriga contractors that Patryn was not a real person at all, and that Patryn’s existence and the stories about him online had been invented by a competitor of Quadriga to throw the platform into disrepute.

Other source: https://www.coindesk.com/markets/2015/03/05/bitcoin-exchange-quadriga-to-go-public-in-reverse-takeover

2015

The news follows a shareholder meeting on 2nd March and a decision by the Supreme Court of British Columbia to allow Quadriga to conduct a reverse takeover of the shell company Whiteside Capital Corporation.

Co-founder Michael Patryn indicated that the move will provide Quadriga with increased capital while satisfying what he called the public demand for bitcoin-related investment opportunities in the Canadian markets.

Patryn told CoinDesk:

"I believe that the audit is an important direction for an exchange. The people want to invest in bitcoin infrastructure."

Quadriga will merge with Whiteside to become a public company called Quadriga FinTech Solutions Corp. Quadriga will be the 100% owner of Whiteside Capital and Quadriga CX, its bitcoin exchange subsidiary. As a result of the deal, Quadriga will no longer be owned by Blueprint Corporate Services, a firm that assisted Quadriga in raising capital.

The maneuver to take the company public has been in the works for some time, with Quadriga entering into a private placement with Whiteside in November 2014.

Launched in 2013, Quadriga has since emerged as a potential market leader in Canada’s beleaguered bitcoin exchange sector. In the past few months, both CAVirtex and Vault of Satoshi, the oldest and most visible bitcoin exchanges, closed down operations.

When I read it, and I see crypto twitter, it makes me sad for what happened to our community. Sifu left Quadriga after the co-founder didn’t want to be public listed company, audits and 2 years before the collapse of the broker.

I have more info but I do need some hours.

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Now is not the time for such a decision. We need to point WL in a new direction first, and then conduct a full and transparent audit on the Treasury before we can even consider his return.
The audit is not because I don’t trust wSifu: it would help clear out the air about any malfeasance or wrong doing during his time as TM.

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:joy::joy::joy::joy: let me have a taste of whatever you are smoking

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Sifu’s reputation outside of Wonderland is an issue, it gives people that want to see Wonderland fail an attack vector and also potential partnerships may not want to associate with the negative publicity - see all the articles in the mainstream media. He has been conclusively voted out and therefore revisiting the issue prevents us from moving forward.

1 Like
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I agree to this. Timing of the last vote to strip Sifu was heavily influenced by negative price pressure. Community thought getting rid of Sifu would solve the undervaluation of wmemo. This was not the case. As things are more stable now, this would be a good time to reconsider Sifu with additional conditions as stipulated in the proposal above.

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guys, are you fucking serious ? nothing against sifu, he do a great job but,reinstate on wonderland ? have you ever heard of image damage?