[TMP #9] Sell our BSGG OTC to Betswap

[TMP #9] Sell our BSGG OTC to Betswap


Offer the DAO the opportunity to sell our entire BSGG position to Betswap.

Current Governance Limitations:

Per WIP #27:

Any seemingly valid strategy has to be properly vetted by the Risk Officer, voted by the treasury council and go through the proper governance process when applicable.

While the proposed investment can be voted by the Treasury Council, the above guidelines cannot be followed as expected due to the current lack of Risk Officer, a TMP is being used to assist treasury personnel with decision making by having the DAO review the proposal, assess the risks and make the final decision.


  • Sell ~1.49bn BSGG tokens for $4.47mm


Wonderland currently holds 1,489,539,254 BSGG tokens. The market value of each token is $0.00274 as of this writing. These tokens can not be sold on the open market due to lack of liquidity and are therefore not considered part of our liquid backing.

Betswap has offered us the option to OTC out of our entire position at $0.003 (which is well above market price as of this writing). This includes a sanctioned cancellation of our Sablier stream to reclaim all tokens within it. Doing so will increase our liquid backing from approximately $28.1k to $29.2k. This will also increase the full backing (due to above market sale) and move the treasury closer to realizing the full $131mm figure.

It is possible for Betswap to continue growth but may never be possible for us to unload our position at a fair value without an OTC due to its size. This puts us in a position of needing to sell tokens on every Betswap price increase, and stifles their growth perpetually. The Treasury Team agrees that accepting the offer is our best course of action, especially considering the difficult macro market conditions being experienced. We are also unable to stake our large supply of tokens and are being diluted.


Wonderland has BSGGin four places. Avalanche, Ethereum, a Sablier stream, and Sifuvision. The Sablier stream needs to be canceled and tokens reclaimed. Betswap is offering to forgive the vesting schedule and buy all of our tokens. Tokens held by Sifuvision in Kyberswap LPs will need to be removed for the sale.

Acceptance of this proposal will grant the Treasury Team the authority to finalize and realize this deal however is reasonably needed.



Voting options:

  • Approve Sale
  • Deny Sale


Some team members and moderators have small (<$1000) positions in BSGG mainly coming from the farming rewards and airdrop.

jclemons — Today at 4:48 AM

I have questions regarding the TMP on BSGG. Is that TMP in compliance with WIP 25? To be more specific my interpretation is if we wanted to sell the vested portion of BSGG via TMP that might be in compliance but selling the entire seed and unvested portion should use the normal governance process not a TMP.

Hi , thank you for your question :slight_smile:

I believe you are referring to the section where it says a TMP should not be used for seed investments. This section is meant for buying seed assets as supported by the second subsection:

A TMP could also be used if the purchase of the seed investment or specific tokens meets an established treasury guideline.

That being said, you bring a good point that a TMP would not have been necessary to do this agreement. TOs/FO/TC have the ability to manage existing positions. Additionally, it seems like the TMP quotes the wrong governance limitation as it brings WIP #27 which is about community proposals. Given that this is not a community proposal, WIP #27 has no bearing here.

I was told this was time sensitive and me questioning some of the information was labeled as “stalling”. Because of this I rushed my review of the proposal and missed this important part. The proper WIP to invoke here would have been WIP #14 to give the community to vote on if a position should be liquidated or not.

I will take the blame on that one and make sure that my future reviews are more thorough to ensure that the proper governance rules applied/followed.

[TMP #9] - Sell our BSGG OTC to Betswap was approved with 99.82% of votes in favor.