I agree with your first point that clear communication about mechanics in the documentation is a good idea for every project. Nevertheless most people ape without ever reading the docs.
Regarding your last paragraph: Sorry to break this to you but 60% health on this type of assets is by no means conservative. Especially considering Wonderland was in an on-going downtrend for weeks with a risk high risk of liquidation cascades. A first step would be to acknowledge that the base assumption was wrong: i.e. 60% LTV is conservative risk taking on a hyperinflationary rebase token. This event should be taken as a lesson in proper risk assessment/management that does not rely on assumptions that can easily break (e.g. buybacks from the team). Certain assets are just riskier to borrow against than others. Crypto as an asset class in general is as volatile as it gets, the main message is always: do not use leverage in crypto if you canāt take the losses. People that donāt reflect on this properly will probably get rekt in the future again. That said I hope you and everybody affected gets back on track and will find success in the future.
What you say makes no sense. How are you fucked if you are keeping your bag. I donāt get this āto he detriment of everyone elseā narrative. They are just going to give wMEMO from the treasury to people, and that is not part of the treasury calculation, so it does not affect anyone gains, and would also have being acquired in the buy back anyway. Remember they bought wMEMO with treasury funds already? Put them to good use, since selling it is not an opition as that would crash price again
Real world doesnt work like thatā¦ Do you say the same when you lose money in a casino. Oh you have lots of extra money on tables give me mine backā¦
Everyone who took a loan (leveraged) knew the risks and accepted them themselves. No one forced anyone to do that.
The situation sucks but money doesnt grow on trees. Soon every loss will have people demanding free money because of price changes. Its not feasible. The knock on affect would destroy TIME or WMEMO because people will come from everywhere and start reckless leveraging demanding the treasury bail them out.
What those who got liquidated dont acknowledge is 95% of the remaining investors are probably underwater too (profit wise, not in the frog sense). Everyone is hurting. They key is that treasury is being put to work and the fund is already growing. Sit back, support and just let the boys do their thing. I also dont think anyone actually appreciates what danny & team have actually been through pre wonderland and all of this. He is absolutely committed to delivering on this and unlocking financial freedom for his supporters. Why cant you all realise this? Just let them get on with it. Why overleverage yourself on volatile cyptos? Are u all mad?? If you want to use decent amounts of leverage then at the very least be doing it with stables, not volatile coins (but even stables can depeg and soil you when you least expect it).
Yeah, I do, thats why i tryed investing here, cause it branded itself as different and innovative. Guess its just as harsh as a casino then. No point staying if thats the case.
You are the one who didnt understood how this was supposed to work, and why it already failed. The Wmemo in the treasury will be continuously bought by whales making the price go up a bit. They will then dump it all of a sudden every few days bellow backing price to buy the treasury assets. Rinse and repeat until nothing left.
What people dont understand is that the borowing was creating liquidity and buying pressure to protect the backing price from this and thus the treasury itself. Now everyone will simply deleverage, making price tank more, as borrowing is not safe at all here.
The treasury will be gone and the next black swan is 1 Time near 1 usd, but now without huge apy but just small treasury revenue making this just a bit better than a savings account.
As I stated above be fair and show all the information. You lost we get it. You made your own choices yourself. You are an adult. Stop blaming people for your mistakes. We live in the real world not lala land. You are the one that clicked accept on it and knew the risks when you did so, nothing in this world is 100%. I assume over leveraging inflated the actual price and the bubble popped leading to a limited liquidation.
The backing price did kick in and the price was pushed back up, they didnāt lie but in fact kept their word.
These buy backs are not instant and it was never stated they would be. You cant calculate 100% it will be at this price if I buy XYZ. It will take time to stablise the price. It was always known that there would be a manual buy back.
Leveraging always comes with risks in any market, you accept the risks when you make those choices. Itās horrible and I feel sorry for you but you accepted the risks to do it. This is the real world. Money doesnāt grow on trees. What you are demanding now cannot happen simply because now you are expecting other people to pay for your losses. For example: Why donāt you give your house and car to people that lost theirs, may as well give your pc and all your belongings to people that donāt have any or lost it by their own actions. This is your logic you will bring everyone down around you because you wonāt own up to your own mistakes. You could have simply raked in money through the 3,3 free money, instead I will call you out. You got greedy and wanted to make even more and made loans/ leveraging risks to do so and now it failed
People will envy those who got liquidated on the 17. It was kind of a stop loss. Those who stay will just keep getting more loss until 5 years to break even.
Couldnāt agree more. AND as I said in another post, the backing price was constantly moving with price action (up AND down). So when someone argues āi set my liquidation price under backingā is just nonsense due to the backing price constantly being adjusted.
From day one, it was EXPLICITLY SAID that the backing price is 100000% NOT a āfloor priceā.
Trust me, my heart goes out to those who lost money but this is defi. If your looking for bail outs maybe go check out wells Fargo. Its no ones fault but their own. I was also leveraging and was able to deleverage TWICE during the crash! If they wanted to wait till the last min, thats on them. If you wanna swim with sharks then you better be ready to play and know what ur doing. Yes, the swap tolerance had to be upped in order to deleverage but it was 100% doable and possible!
ALSO, whats the first rule of investing? NEVER INVEST MORE THEN U CAN AFFORD TO LOSE!! All these ppl crying that they lost their life savings is just ridic.
Sorry if this comes off harsh but it NEEDS to be said.
To Sifu and Dani - KEEP UP THE GREAT WORK, BOYS!!! LFG!
I find it extremely sillyā¦each one is (or should be) responsible for oneās actions)ā¦if you leveragedā¦you were planning to get the benefits of the sameā¦if this would not have happened, would you have proposedā¦letās all share some of our leveraged profits to wonderland treasuryā¦Iām appalled at the proposalā¦SHOOT IT DOWN IMMEDIATELYā¦lest it festersā¦
He can do what he wants as its his money, if he lost money that was his actions that led to that. Just as everyone is responsible for their own actions. Stop spreading BS its getting old now. You are an adult. Act like one.
Yeah and if this community really thinks like this and wants to pretend it was no big deal and has no negative impact on the project, then I am really glad I was forced out.
The community is not responsible for your actions. The only one responsible for your actions is you. You are free to leave if you are not happy but you are not allowed to guilt trip and what it seems try force your opinion or blackmail the community because of your actions caused a loss. You just sound like a bully at this stage.
