I notice the price of wMEMO has stabilized in the last couple of days coinciding with SIFU being removed from treasury operations. Interesting. However moving on for now:
Unless someone who legitimately knows and has convincing evidence that SIFU has manipulated price for personal gain, or taken community assets, or otherwise worked against the best interest of Wonderland community, a past record is not enough to liquidate wonderland and at loss to token holders. Or possibly even to remove SIFU from work at Wonderland in a capacity of strategic development, for example.
a) Step one is auditing his wallets to see what happened. A qualified independent auditor should be hired for the job and be able to determine what has happened, and the results posted to the community. This give SIFU the opportunity to clear his name as to Wonderland if he has done nothing wrong, and also to determine amount of loss due to embezzlement if there was, in the alternative. If SIFU chooses not to go through this exercise, then I guess we have our answer about what happened, even if we don’t have an estimate of damages to the community.
b) A review on the investment in BSGG to see if it was in the best interest of the community or something SIFU did in conjunction with associates he may have over there, and what their own reputation is.
c) While the investigation continues SIFU should remain on as a consultant to Wonderland so it is not an aimless ship, but not have treasury authority.
d) There is an argument to be made that reputation of the project is ruined at this point either way. The price of the token seems to have stabilized at this point… Ruined would be market price went to zero or close it. No buyers. That does not seem to be the case.
e) I personally found the merger possibility with abra interesting. Sure our value would dilute from now but it maybe would be a good chance for a better long term result. I guess I read a post in the discord that Abra doesn’t want us. I don’t know, but it sounded like a possible alternative to me.
f) Now, a late development: This announcement from Dani that is showing good faith. He’s basically saying he can’t run the thing. It is/was SIFUs baby, but there are some people that maybe can:
First gear, on the way forward — Daniele (mirror.xyz)
In summary, add it all up and IT IS PREMATURE TO VOTE TO DISSOLVE WONDERLAND.
There was no doubt that Wonderland had to transition away from a short-term hype strategy to sustain, to have longevity. The doc story had holes in it even I knew when I read the pitch, and anybody that knows anything knows the high APY is not a sustainable business model, but sure worked well to create a buzz, and create a substantial treasury! Most knew and took Wonderland on a flyer. SIFU was manuevering away from hype to trying to generate real value for the community (which also benefits him, devs, and whoever else was involved, sure). Futher I didn’t remember anywhere in the docs that it said that Wonderland would buy back their tokens whenever market price was lower than treasury value per token… All the docs every said that i remember is that was that if the token price ever fell to less than one MIM ($1) they would buy back until 1 TIME = 1 MIM. I do not believe that is the same thing? I think to offer to buybacks in the way they did at all, was a mistake. gave into community pressures from those that don’t want to take the responsibility for the risk of investment…and said they were long term, but don’t seem to be long term minded.