Objective: Continued benefits from management and communications by Sifu, using a smol portion of the treasury. Expectation of profits through this partnership with your founder.
Provide a High Level Overview: $SIFU Vision was created by the founder of Wonderland as a solo act, continuing the vision that I originally had for Wonderland, without the friction of conflict of interest and DAO. We currently have ~2500 holders and an active discord featuring daily communication with the team.
Provide Low Level Details: If this proposal is passed, Wonderland will purchase $25MM worth of $SIFU tokens at the current backing price. These tokens will be placed into a Sablier stream, to be vested linearly over 12 months. This means a portion of the tokens are unlocked and made available to sell every block, evenly, over one year.
The project is nearly three months old, and this proposal is for a vote for voluntary “investment”. Not sure what kind of mental gymnastics you’re using to call it stealing.
Can you provide us some numbers? After three months how much the ROI is, what did you invest in, how the token makes money, etc.? On sifu.vision the info is close to zero…
The initial sale was at $100. During the following month, I was able to increase redemption value to ~$120 via trades on ETH, CVX, CRV, GMX, and WMEMO. We also made a $500k VC investment into Aurora with extremely favorable terms (favorable price and vesting schedule). In mid May, we lost ~$9mm due to UST depeg, which was a very large portion of our treasury at the time. Since then, $SIFU has outperformed ETH by around 55% as we have been shorting and hedging during this market meltdown. As I have a high watermark, I earn nothing until losses are recovered and have also been donating personal profits to accelerate this process.
Since launch and including the major losses from UST, $SIFU has outperformed ETH by 8%. Glass half full
Similar to the Wonderland TM, its my job to source the best possible deals and invest for maximum potential yield. It’s difficult to put an expected yield % on this, I could show the defi trading/investment performance of my personal ENS which gained 4000% in two years, or the SV wallet which dropped by 57% in 2.5 months. The idea is that we trade and invest together, and share in the profits. I won’t stop after a 60% gain, any more than I would close up shop and try again after a 60% loss.
i think this is a good idea and im all for it. its like double dipping in that we are investing in a coin that provides an ROI for us on their own investments. and the benefit of Sifu managing it who a lot of the remaining WL holders have a strong level of comfort with. i see no downside to this
Can @TheSkyHopper confirm whether this would take place before the redemption or after the redemption? And if it’s before the redemption - can you give us an understanding of how this will impact the current backing price?
They struggle sometimes.
