I know Sifu makes better investments than I ever could. I have high expectations. I’m thinking of doing redemption of half of WL holdings and put this in $SIFU. And then half stays in WL with still exposure to $SIFU. I hope that is wise. Not sure. But I know that is not the dicussion for here. Will vote yes
The person he has been for the past two decades would say otherwise. I would hope none of us are the same people we were as teenagers! The people that know him beyond the tabloid articles and Reddit threads have full trust in him.
If you have more concerns or would like to discuss more, please reach out to me on Discord and I would be happy to chat any time!
I’m down for this too! Let’s do it
Further to the original vote to remove SIFU from the WL management team, which I did vote for, not really understanding what was going down…I believe that SIFU was outed in a organised attack on the WL treasury now…at the time I voted to remove SIFU, I believe maybe in error, with not enough information or knowledge of what he had done or didn’t do previously. If I had to vote again, I would vote differently. Given that, I have voted to invest in SIFU token
I fully approve this.
We don’t know how much of the treasury will remain after rage quit, so I suggest to change the proposal to state the % of the treasury to allocate instead of a fixed amount.
Another idea is that the WIP could have multiple options: 0%, 10%, 20%, 30%, 40%, 50%.
Even in this bear market, $sifu is trading above backing so it’s a no brainer for WL to invest 25mm in SV. It will be mutual benefits for both protocol to move forward together as leading projects in DeFi. Fully support this proposal
This is probably a great option for the WL treasury, but I see this as a net negative for SV at least for the next year and possibly longer. My reasoning is entirely selfish and reliant on Sifu’s standing promise to donate personal profits to SV.
A substantial majority of SV was in UST, holding stables for just the sort of buying opportunity we may be seeing now. Most of the SV treasury was wiped out when UST depegged, something like 70% I think. After that catastrophe, Sifu promised to donate a portion of his personal profits on a regular basis to SV until the redemption price was restored to its former value. Obviously he didn’t have to do that and he’s free to change end the donations at any time. The proposed investment would essentially force him to stop.
First, it makes zero sense for Sifu to donate personal profits to an investing entity in the abstract, and especially if that entity is WL. Second and more importantly, if Sifu were for some reason to continue donating personal profits the amount he’d have to donate to restore the redemption price would be impossibly large. It’s just not going to happen.
My figures are probably a little outdated, but accurate enough to make my point. There are about 122k SV tokens in circulation, so treasury has to increase by ~$122k for every $1 increase in backing. Backing prior to UST depeg was ~117 per token, it’s now at $42.5 so with the current token allocation about $9m is needed to restore backing—basically the amount previously held in UST. Nearly 600,000 additional Sifu will be in circulation if WL buys at backing, bringing the total amount to ~722,000. $722,000 for each $1 increase in redemption means nearly $54m in profits (or donations lol) needs to be made to restore the previous redemption price.
I don’t doubt that given time Sifu can leverage the SV treasury, especially with the WL investment, to produce returns like that. A larger SV treasury also enhances Sifu’s investment options and ability to diversify the portfolio. The investment is also well timed given the market, who wouldn’t want an additional $25m to buy at this prices and perhaps even lower.
However, for current SV holders, assuming Sifu’s donations continue, this proposal on balance seems like a bad option. The redemption price will take longer to be restored, and the timeline to earn a profit of any kind (most SV tokens were purchased at around $100 I believe) will be longer while WL can begin earning a profit immediately.
Yes! I approve this.
I support this but we need to buy all the outstanding $SIFU
At current $sifu price 25mm from WL will get 525k $sifu from total capped supply of 1mm that’s more than 50% of total supply
I like Sifu, I value his presence in a channel, but I wouldn’t invest $25m into a treasury that lost a majority of its funds to UST shortly after it was created, the writing for UST was on the wall and should have been visible to a good tm.
Let’s absolutely not do more than $5m here, I vote more like$1m just as a yolo invest.
That would still make us about 1/4 of the SV total treasury if I understand this correctly.
SkyHopper called UST imploding perfectly. I’m in favor of this however UST panned out
Please provide proper insight on why this may not be a good idea instead of half-assed fud.
Sifu is the best. Approve!
Sounds like a great idea except I think because of the one year vesting schedule, restricted liquidity and the fact that it’s a huge capital injection for the SIFU project, WL ABSOLUTELY must get a discount to backing price. Why would nobody even consider this? With a standard deal that is great for both sides, not just one side, this is a great idea. But as a $25 investment with zero preferences, it’s borderline 50/50 with many equal or better options.
SIFU, how about you sweeten the deal for WL?
YES Sir ! bring it
Can’t understand why only 25m.
We will soon be without TM, and buying $Sifu will give me the safety of having the smartest one
RFC has been approved for WIP: