Spread the word friend! Let’s do this - if the people want it… We’ll do it. It takes a village.
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An alternative: [WIP #4] - Wind down Wonderland, and give the treasury back to its holders - #213 by Windburnt
I was robbed of all my wmemo on Jan. 4th and I suspect Sifu was behind it. What recourse do I have, if you’re willing to reimburse over leveraged investors?
My initial investment was about $30,000.00
I’ve since learned that many others have reported the loss of wmemo from the Wonderland site.
Note the wording here:
Winding down will mean giving every wMEMO holder back the funds from the treasury that they are entitled to and declare the OHM Fork experiment closed. We strongly believe that this would be the cleanest way of moving forward.
The Wonderland team is done with this and wants to move on as I suspect the majority of wmemo holders will vote. I really like the potential of the project, but bad sentiment both inside and outside of the community will make continuing untenable.
I think the unwinding steps need to be in this order:
- Immediately remove wmemo liquidity providing from treasury to prevent further wmemo buys.
- Calculate wmemo outside treasury. This calculation should include wmemo and the equivalent wmemo that would be retrieved for TIME holders
- Burn the rest of the wmemo in the treasury or take it out of the calculation of total wmemo
- Enable treasury exchange for wmemo. wmemo holders get the % of the treasury per the % of wmemo they hold
3 Likes
Proposal for vote:
0) Only those should have vote, who hold MEMO/wMEMO or TIME at least 10 days (to lock out whales, who buying the tokens and will have bigger voting power)
- use snapshot before ZachXBT & Dani’s texting happened (27 Jan) (before Sifugate)
- payback must be in stabile coin
- only users’s wMEMO should count when the payback value calculated
- as the protokoll has all the data including dates, no payout for depositors or those who bought wMEMO after Sifugate BUT MEMO to wMEMo (wrapping) is OK
- holding time must be a factor when calculating the payback value (the longer the time of holding, the more payment value)
Than CLOSE the Treasury AND select & contract new management.
AFTER that - maybe a week or a month I do not know - REOPEN the treasury with voted, elected, contracted people. So those who sees the innovation and value in this, can put back/add money into it, and those who comletly lost their trust, can stay avay with some part of their money.
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What happens then to people who are currently staking their TIME and have just MEMO?
THIS IS NOT RIGHT!
- Snapshot must be before all this drama happened as there will be whales who benefit from this at the smallest frogs like us!
- wMEMO in the treasury must br given to us as even backing price doesn’t even get close to our initial investment!
Where’s the trust and where are the promises to protect the frogs?!
3 Likes
I like this proposal way more than what the wonderland team is suggesting.
I would do what the article says and wrap it right away. The wonderland team gives a link to wrap it above.
The show must go on.!!! HODL
Hardly any of it, you will be at a loss unless you bought in at the bottom, like the whales are doing right now.
No Michael!
This is not right!
So you are saying it’s a code vulnerability? Awesome
Hello Talal,
I agree that it is to our advantage to continue with the Wonderland Protocol. It is obvious that the current management team is looking for an easy way out. We should vote down the proposal to dissolve Wonderland. The current management team should be made responsible to continue to manage until a new management team is assembled and ready to take over. The current management should carry out an orderly transition with complete financial accountability. This is an organization with assets worth 700 billion dollars. The current management must be responsible enough to carry out an orderly transition to the new management team. THE NEW MANAGEMENT TEAM MAY BE GIVEN A GENEROUS PORTION OF THE 167 MILLION wMEMO CURRENTLY IN THE TREASURY. THIS WILL BE A PERFORMANCE INCENTIVE FOR THE NEW MANAGEMENT TO RAISE THE VALUE OF wMEMO.
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As long as there are conditions that they must meet before they get any incentives.
I agree, the conditions should be clearly stated in their contract. As it is the wMEMO is of very little value. It would be an easy way to pay and motivate the incoming management team.
1 Like
i know Im gonna get creamed with this comment, but
Keep Sifu on as a paid advisor, as technically he has done nothing wrong @Wonderland. (more Politicians are way more corrupt). To keep the strategies he had in place to proceed with management oversight, as they were great investments for @Wonderland. He will qualify for incentive bonus once the goals are reached.
just my 2 cents.
This proposal is terrible. I don’t know if Dani is tired of dealing with wonderland , but the scandal broke out yesterday; what were you expecting? The proposal shows only more misinformation, controversy, and lack of organization. The communication team was much needed, but Sifu said, “frogs want to get alpha from me, not others.” The majority of devs are busy with Abra and Popsicle. There are thousands of things that are a quick fix, but no one is talking about; for example, snowtrace has shown that our market cap is 0 for both TIME and WMEMO since two weeks ago. In Discord, some people warned about the bots (and I am not talking about the arb bots), Sifu never looked at the contracts.
The other “frog nation” projects ultimately pushed Wonderland away in CT because they didn’t want people to think their funds were at risk. Neither was ours; the treasury was safe! Nobody robbed the treasury. 2 days ago; it was the merge with abra, yesterday the scandal with sifu. Why was merging with abra needed at the time?
Now:
Twitter: Daniele never asks to DM:
“Frogs, you should gather up and coordinate and help us. If you want Wonderland to stay and continue preparing proposals, don’t be afraid, you own it, make your time count.” For months, there has been RFC and not been able to vote on them, but now “frogs” have 9 hours to coordinate even if there are many questions about the current state of investments, treasury, etc. Are we supposed to coordinate blindly in 9 hours? The bare minimum Dani could do for Wonderland it’s to give us at least time, we have 9 hours plus the team recommending to close over and not even taking the time to consider all the other proposals that have been made.
Five days ago, we were a top 100 crypto by MCAP, the most held coin in AVAX, the largest DAO by the number of people in all crypto. Dani made a big mistake with Sifu, but accountability to the community is not “getting tired” the day after the scandal and rushing to make a dissolution of all the projects in 9 hours. The price is going up; the same whales that created the bots are buying now to vote to dismantle in 9 hours; the frogs promised to receive tokens from the liquidations some days ago by Dani and sifu will not be able to participate. It would be interesting how many Joe’s and Ohmies are buying to dismantle the project.
Even if we are an “experimental token”, it doesn’t mean having “experimental” decisions that look improvisation and not well-thought commentary or proposals of Wonderland getting dismantled like this, giving us 9 hours to make “propositions” like Dani said in TW. Yesterday in CT, many people showed their actual colors in their attack towards the frog nation ecosystem; the frogs that stayed and continue to believe in you don’t want this to happen. The project can survive and make a comeback without Sifu, but without Dani, it will be hard. Imagine if Dani left Popsicle after the hack? I recognize the big mistakes revealed yesterday, and I know many people are attacking Dani, and his morale must be pretty low. However, I don’t see how we can show him that there is still a community that supports him and wants to create new strategies for treasury management. Dani tweeted last month, “Frogs don’t leave frogs behind,” and if he owns the mistakes he did, I think that majority of long-time supporters of Wonderland want him to stay, even if we are the ones that invested the most in this project.
Edit: Dani posted
"Do we wind down or do we continue to fight for the aspect of a Investment DAO being a revolutionary new organization?
In order to get prepared for both situations, we have added a Wonderland dev to the multisig, to prepare custom contract interactions which are required if we give the funds to wMEMO,MEMO,TIME holders back.
> For the option that I am for which is to fight and bring someone new and experienced on to manage the treasury, I would like for everyone to come forward and bring ideas, if you are a fund in the crypto space, please post a forum proposal if you are interested!"
I don’'t understand his position since this proposal is different from his statement earlier today
4 Likes
Let the FUDers exit at fair Treasury value for a 24 hr period. Those who remain (with a smaller Treasury balance nonetheless) can continue the project with optimism and the good energy that a DAO needs to succeed. Even if half the Treasury is gone by the time this is over the future will be brighter for those who stay. Less wMEMO in circulation paired with new management could bring great future returns for holders.
1 Like
This is “snapshot” as in “snapshot.org”, the website where the vote for winding down will take place; I believe you’re right and the buyback will be at the price of $40k per wMEMO