Use Wonderland Treasury to purchase a portion of the remaining circulating supply of $JADE

General Discussion
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As some of you may know Jade Protocol published their roadmap earlier today (12/31; JADE’s War Path to a $1,000 Price Floor | by SmartCoin | Dec, 2021 | Medium) in which they outlined their plans moving forward in creating the first DeFi VC fund. In this article they take shots at Wonderland’s $TIME backing price, however, they point they make is fair. How safe is this backing price per $TIME actually and what does it guarantee?

I have no question that Daniele, Sifu, & team know what they are doing, however, it can’t be ignored that in the event that $Time’s backing price is tested it could be of great detriment to the longterm health of Wonderland.

With many great projects emerging in the DeFi space competition is inevitable, however, right now we have an opportunity to affordably reduce some of that noise rather than compete with it.

Currently, $JADE’s unstaked circulating supply sits at around 14% and it’s market price is at around $60 and increasing steadily. If Wonderland were to allocate $5-6M from its treasury to securing some of this available $JADE, I think it could be an incredible move towards building out some of Wonderlands own utility while providing us more time to continue in a positive direction.

A move like this would show solidarity amongst the DeFi community and would be refreshing to see amongst all the twitter drama we’ve seen unfold between so many different projects recently. I believe that Wonderland’s community along with the Frog Nation are the heart of DeFi, and that we have responsibility to support our fellow projects rather than compete with them. Our mission isn’t to defeat each other it’s to defeat the suits so that may all prosper together.

$5-6M is a small portion of our treasury, however, it would afford us almost 10% ofJade Protocol’s entire circulating supply. Imagine us consolidating our efforts rather than competing with one another. We know that both the Wonderland and Jade Protocol teams have incredibly huge balls. Now imagine Danielle, Sifu, & Einstein combining forces to some degree and working together rather than against.

Remember, Wonderland is the DeFi Fund segment of Daniele’s host of projects. Holding $JADE could be a smart move and can create opportunity for our other projects as well. Moves like this not only help increase the health of Wonderland, they boost Abracadabra’s and Popsicle.Fi as well. This could potentially mean more MIM cauldrons and more Popsicle utilization. Overall, this would fall in line with a lot of our goals and would be a major move forward into 2022— Let’s (:tophat:,:tophat:) together.

Please, I implore you all to read the entire Jade Protocol medium post, if you haven’t already (I’ll link it one more time at the bottom). Think this over and let’s try to reach a consensus fast. Thanks for reading, much love, and I wish you all a happy New Year! :slight_smile:

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One thing I didn’t mention is that the goal of Jade Protocol is to move all of the remaining Jade off of DEX and into staking. Although 100% $JADE staking is unlikely, a severely limited circulating supply alone could be a great opportunity for more people who can’t get into Jade Protocol to instead get into $TIME in an attempt to capture gains on both.

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I’m not sure if you’re trolling or…? Your asking the frognation community to discuss a potential investment in a rug pull? Lol

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:put_litter_in_its_place:

This must be a joke

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This is the stupidest proposal I have ever seen, it’s so ridiculous

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Believe me I completely understand the skepticism in this idea. I’m not trolling and perhaps I am a complete degen idiot for submitting this proposal. You all have every right to question my intelligence considering the fact that JadeProtocol’s team was extremely successful is tarnishing their own reputation via the self-imposed FUD campaign and recent lack of communication. However, I still stand by what I say.

I understand the FUD surrounding this project and it’s totally reasonable, however, the evidence contradicts the idea that this is a rug pull. Perhaps, I don’t see what you all see but the mechanics of the price trend don’t point to any rug pull. Again, I implore you to read the Jade roadmap and DYOR. If you’d like me to explain my rationale behind something more specific regarding this topic, I’d be happy to do so.

Additionally, a $5-6M proposal constitutes ~0.6% of our treasury. This isn’t an excessive amount and doesn’t necessarily need to be this high. The idea that proposing such a “risk” is some how unconscionable simply due to FUD is frankly a beta notion. When the facts change and the evidence proves otherwise, if you can’t let go of FUD as quickly as you latch on to it then you’re most likely ngmi.

(side bar: these forums are meant for real discussion. notice how I made an actual point while also calling the three of you pussies without ever actually calling you such. i strongly advise that in the future you find a more productive way to make a real point as to why someone might be an idiot rather than directly calling them one. just because the emotion based response to 12/02 got us these forums does not mean we’re here for emotion-based tit-for-tats lol. oh and one last thing. if you go out of your way to accuse me of doing this very thing because of the fact i’m lecturing you right now, then you’re kind of proving my point. i’d like to remind you that these DAO discussions only move forward via positive community engagement. if you don’t like an idea and don’t want it to get any traction but you have no point to make in regards to it, then do the smart thing— ignore it.)

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Love the post and criticism. The community is supposed to do what is healthy and bringing new projects to the community can be exactly that. I have followed and invested in the FLF economy and one thing I think interests me in this and Wonderland is the prospect of being apart of the screw VCs and being apart of PEOPLEMAXI and DEFI. Though many have the wrong idea of JADE/SMRTr because of their arrogant/degen/cultonomics behavior, they have taken care of their community and hopefully will continue to do so. There has been numerous times where the co-founder has wanted to work with DANI. maybe we can actually do good as a community and push this forward. Remember that they are trying to use their treasury, if Dani can leverage not only Wonderland but Jade, and vise versa…could be amazing.

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If Jade is a rug pull then why would we want in

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In order to answer that question I would first have to know why you believe Jade is a rug pull in the first place. So please kindly enlighten me what specific reason(s) make you suspect this.

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To be fair, you point out the amount of FUD around the project, but say you don’t believe it is a rug.

Fair enough, but then you tell us to “DYOR”. Unfortunately, if you want to propose using millions to invest in what people believe to be a rug, you need stronger arguments then “I dont think it’s one”, “DYOR” for me to vote yes.

It shouldnt be on us to say why its a bad idea. It should mostly be on you to convince us that it is a great one other then saying its “beta” not to and talk about facts without telling us what they are.

Your main argument is collaboration, but for a lot of us JADE is a failing project with a team that has a bad reputation. Why is that collaboration worth it ?

Also, would be nice of you to disclose of you have investment in JADE or what is your relation to them. Since that could be seen as more or less of conflict interest.

Happy New Year!

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Jades phase 3 plan of their come back includes a 100k bounty.

Here’s what the 3-phase process looks like:

  1. Our community (the Alpha Army) will submit thousands of proposals for investment opportunities (both in and outside of crypto)
  2. Our team will go through every single proposal, and filter the highest quality briefs
  3. The top crowdsourced proposals will be presented to the community as a vote. The winning proposal(s) will receive an investment from JADE, and the person(s) who created the proposal(s) will be rewarded $100,000
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Sounds like you are holding Jade and want to use Wonderland to boost its price.

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Not me, I went and read about it. I lead a rather boring life.

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You have to be kidding me… they are using Jade investors to find investment leads for them…and will leave investment decisions up for a vote? This is possibly the stupidest thing I’ve read all year…

There is a reason why Wonderland has a Treasury manager who has experience in handling hundreds of millions/billion dollar funds. You can’t leave this stuff up to a bunch of kids who ape into a billion % apy project to give you leads on how to spend tens of million of dollars of treasury money. This is the biggest setup for failure if I’ve ever seen one.

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sorry that was for the person who made this and not you

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All good, , Twenty character law.

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Take a look at their previous projects (SMRT, SMRTr) and now Jade. You might not think its a rug but I think we can both agree it’s not a success. Most of their investors lost money, and I doubt the devs lost any.

I don’t understand why you think its necessary for Wonderland to step in and bail them out. What about every other rug or daos that went under due to poor management? Should we hand out money to them too for the sake of solidarity?

We do not have the responsibility to help out other projects. We are a 4 month old start up. Our focus is to carve out a sustainable path forward. No Ohm fork has even existed for more than 6 months and Ohm itself has been around for less than a year. It’s very much a competition for survival and investing our money into a project/team with a track record of failure is a pretty stupid idea. Jade devs took millions of treasury money and went on vacation 1 month post launch… you want us to invest in that?

Sifu as addressed this many times in the Discord chat. They will manually buy back at backing price.

Jade is not a competitor to Wonderland.

Jade has a sub $70 million treasury. Their goals for growing it is by having their investors give them investment ideas… the same investors who are stuck holding the bag after a 90%+ drop in price…

We have almost a $900 million dollar treasury (and growing) that’s actively being managed by our Treasury manager (not a dev).

I don’t think Danielle and Einstein share the same vision. Just look at the video on Jades website.

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From my understanding they first rug pulled smart Coin than they did it again with smarter Coin now Jade will be the third time the devs don’t have a great track record

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Best comment of the year

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This is like Amazon buying some of Walmart to help them sell more goods. I would vote “hell nay” for this proposal.