I am sorry for you I know it’s crushing but there was no lies there and you try to blame someone else for your actions.
If you want to paraphrase, you took “It looks safe to me” for “It is bullet proof safe”.
If you read the popup alert when you borrowed you knew there was extra risks and it is on you to evaluate risks with your investments.
You also took “We will manually buy back if price drop below backing and we will do it pretty fast” (which they did) for “We will do it instantly, no candle will dip below backing price ever…”
And you also forgot to quote messages from Sifu explaining that price could drop below backing before the buyback happens.
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Disclaimer. I got liquidated (price was below 1150). But my main concern that there was literally 0 action taken, not only to prevent, but even to slow down this.
- Why only Sifu could perform buyback? Dani was awake and was aware about situation? He perform buyback of Spell tokens before even with his personal funds, why he don’t try it here? Later he could just “sell” it OTC to treasure, if he don’t need more Time tokens
- He could just post about “we guarantee buying back below backing in next 4 hours” on tweeter when price move close to backing. It would encourage people to buy with there personal funds, knowing that this is pretty much risk free
- Sifu saw that price dropping, but still don’t setup any alarms or even react to Dani calls and messages.
If they try to stop cascade and failed because of the strong presure there would be no complaine. We all understand risk involved. But they basically left people behind, made 0 effort to stop it or even make it less sevire. Possible I would liqudated anyway, but frogs who got liqudation price around 900-950 wouldn’t. But Dani did nothing to help or even slow down cascade. And when price drop to 800 he post this https://twitter.com/danielesesta/status/1483165386422231040 True people maxi!
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The buyback is to protect and set a bottom price, not to protect your reckless borrowing. You thought you could use the buyback to your advantage but you didn’t realize that nobody promised any instant buyback as its done by a human. No, i vote against any type of reimbursement on a reckless loan that the borrower thought he could game the system on. What kind of message does that send?
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I absolutely agree with this whole thread because it definitely wasn’t delivered upon how do you preach protect the frog and we are one when you allow the price to dip as such and what about how the backing price is physiological f***ing us when it’s on the home page I was definitely affected by this because myself got liquidated because they ensure us with the treasure that he cascade and black swan event wouldn’t happen even with borrowing to buy more wmemo
Its people like you that probably have $500 Wmemo have the loudest mouth about not supporting this when this proposal is very sound. What’s funny is that borrowing allowed the price increase massively but when it comes down crashing to the backing it was crickets and the manual buyback didn’t happen so they should remove the backing price from the website which causes even more FUD. You guys are starting to have cult behavior when he simply stating facts that they could handled this situation better when it was WE THE PEOPLE who raised the money for that 1B dollar treasury so a 20M dollar reimbursement is nothing they are making 1M plus a day in yield farming rewards
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I got liquidated below the backing price this is straight up Bullshit never fud the project or anything this should push forward and reward all those that was affected because many people believe the backing price because it was advertised on the wonderland website
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I’m sorry that you obviously lost some money and that you are upset, but you don’t need to take this personally and insult me.
There is no way for you to prove to me that leverage is not greed. It is. You can semantic bullshit me all you want, but when you boil it down, its just greed.
No, I don’t have $500 bucks put in here. I have a lot more than that of MY OWN FUCKING MONEY which people like YOU have brought down because of their reckless borrowing. All borrowing has done is inflated the price like a $2 hooker inflates her dick sucking lips.
Sifu did do what he said. He bought up to prop up the price. You have to use leverage carefully. A lot of ppl got liquidated today. Me included. Over $60k. It is the space we are in. I am sorry to see all this meltdown but it’s part of it. They are top tier team. They’re doing all they can. Take a walk and think about how you can play a safer and smarter/strategic approach next time. You don’t need leverage on an 80k% apy play. What you needed to do was sit tight, play the long game and buy dips when paper hands panic. Sifu and Daniele will get access to VC deals we won’t dream of. The returns will be hectic. See the big picture. For months now the team has been signposting that we’re are not an ohm fork but a vc fund. Get some money and fucking buy this dip. Re enter. You will get your lambo back in a year or two and this will all just be rain drops.
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If it comes out of the treasury, its taking away from the value of my share of the project.
Acknowledging ‘your token may be worth a bit less’ is legit agreeing that the people who didn’t leverage would be paying for it.
Sifu got liquidated as well. You can’t constitute his suggestion of what he thinks is safe as a guarantee of financial security.
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I feel for anyone who has been liquidated but as for buybacks for liquidations using treasury money that is nonsense. What about all of the holders who chose not to leverage themselves as they’re aware of the risk. We shouldn’t have to bear the brunt of somebody else’s choices.
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The fund can’t be used to bail out leveraged participants. Leverage comes with risk. Frogs that didn’t leverage will be punished and diluted. that’s not fair. It’s sad but you can’t expect a bailout. what you should be doing is buying back in now it’s at a good price. Your lambo will come in time with the VC investments. Toughen up. I lost close to 60k too. Get back in there and muscle up. The guys are a top flight team.
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This proposal has no sense!
Do you want leverage? Do it at your own risk.
Now you are here to beg money back cause you are a gambler and you lost. No, that’s not fair.
We are not talking about trust, but complain to money lost.
If you had trust in this protocol you wouldn’t have played with the money to get your lambo earlier, but you would have waited patiently, like many other.
Maybe I’m to harsh, but this is the reality.
Sifu explain more than once that the payback is manually, so it will take some time to happen.
If ever this proposal will pass, I assure you that we already have a bigger problem than liquidation and backing price to complain about.
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With 60% slippage that is BULLSHIT and not frog friendly
This is probably a joke right? Seriously anyone getting liquidated is actually the whole reason the price dropped and you guys want to thank them for leveraging too much I see people saying they lost their life savings how stupid can you be to be leveraging your life savings I myself also invested my life savings but I will never put it at risk because I believe this is a long term play
It’s stupid that we are even voting about this sifu said I billion times that the buy back would happen manually. For those who doesn’t know what that means it means a human being will be buying back time and that human being sleeps too also there is a protocol in place which means it can’t happen instantly so if you leveraged to a point where you got liquidated it’s your fault why do those of us that weren’t greedy paying for it
My vote HELL NO when you leverage you get punished if it goes against you would they be returning the money they would have made if the price had spiked up ?
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Well, what about people, who had to sell at low price to lower the liquidation price. I am tottaly against. I did not get liquidated but sold low to repay some MIMs back.
There is no option for me.
But of course you exclude the quotes where he says it could drop below backing.
“We buy back if it ever reaches backing price. It can go lower if panic users irresponsibly dump below that number before we have a chance to execute buybacks.”
“Floor price is the backing price. If it goes below, it’s due to a quick wick from a seller before I have a chance to buy back”
“Reasonably safe. Market could dip before buyback during a black swan event, extremely unlikely.”
This proposal is not ok. How about if this proposal goes through?
Any one who leveraged for gain should share gains with those who didn’t leverage?
And that person was sifu 14M that caused the cascade so whats your point because i believe in the project like everybody else it was irresponsible as the co founder and treasury manager and dani knew as well and they kept allowing the price to keep cascading this is not just one issue when they knew the key levels of support and allowed it to further go down with 1B in the treasury is just stupid
what about when both founders have the ability to cascade the whole project and that 14M was reckless without having somebody act upon while he was asleep there should had more people on deck to help with the issue not 6 overworked people for the whole project we are running a multi billion dollar business this is unacceptable