Do not vote for winding down the fund? You are the only one who will take the loss for it. Check out my video and proposal
37 Likes
for winding down, wmemo below backing price is at discount?
1 Like
Keep wonderland going. Nobody wants a piece of the treasury at discounted prices. We all lose. Most of us still believe in this project. With the right people this will succeed and everyone will profit from it.
26 Likes
Abra doesnt want us lol
1 Like
Sorry if you bought after the BSGG snapshot, we already had the initial december drop and I assume those people weāre mostly trading. Happy that you got a good entry, but not at the expense of a community that held in good faith and saw their savings vaporize.
5 Likes
I have to agree that this would likely be the cleanest way to end this project - to keep this up for any longer would be counter-intuitive.
This begs a few questionsā¦
If Wonderland were to completely dissolve, where would the proceeds from the projects weāve already invested in go to? Would those funds weāre supposed to be paid out be delegated to people who were a part of the project or just funneled into another project? What happens to the deals Wonderland made with those parties?
I also think itās important to include just how much each wMEMO would be backed by if we were to dissolve. Would each wMEMO be worth what the current backing is? Some clarity here would be nice just so everyone knows what they should expect if this vote passes.
If this were to pass, would we (or whales, for that matter) be able to soak up a huge amount of wMEMO at current prices (~$20k) and get bailed out at the current treasury backing value?
What about the portions of wMEMO that Sifu and other project members hold - Sifu acquired a large amount of wMEMO from what I understand during these buybacks. Wouldnāt he, or other people/whales who bought below the poorly-communicated/poorly maintained backing value win (pretty largely) in this situation?
It seems like no matter what, the whales will win while the members with smaller wallets who supported this project from the very beginning will be left out to dry and sustain huge losses.
11 Likes
I dont care what anyone saysā¦ THERE SHOULD BE A SNAPSHOT of token holders and it should be BEFORE the Sifu news so those people should be rewarded. Lastly, It should support those who were liquidated due to it falling below the backing price. People talking about ādIaMoNd hAnDs gEt rEwArDeDā or āyou sell you loseā can keep quiet. Many of us have been holding since October, faithfully following (3,3). I dont support whales buying now to get free money. No way.
32 Likes
I get your point, but many believe the backing would be honored and keep liquidation price super low, below 25k and lost everything.
Many became depressive and suicidal. I canāt ignore that. If there is a way to savage this damage we should try to.
11 Likes
I think this is important. Investors how leveraged and then failed to monitor their health. Kind of deserve what they get. Plus. Everyone in this last liquidation had a warning the week prior when there was the first liquidation that occurred. If you saw that liquidation 2 weeks ago and left your levered position in placeā¦, sorry that is on you.
3 Likes
you misread that. a vote will be posted on the platform named āsnapshotā. they are not saying, that a snapshot will be taken or anything.
2 Likes
So whales will buy up now and get the majority of the treasury while small frogs are crushed? Loyal 3,3ers are ignored again. The snapshot should be before the liquidationsā¦
12 Likes
I think this is the best option. It is clear that the team wants to return the treasury and move on. Best action for everyone would be to hold wMEMO and vote to return the treasury. The alternative is the treasury being handed over to another party to manage, if voted in. I donāt see how any other party could swing this vote as we all invested in Dani and his team. If another team exists that has the credentials to do the job, theyād probably already be doing somewhere else. Letās not prolong the agony for longer than necessary.
It would be nice to understand how it will be decided how much each wallet is owed before voting. However, if this is disclosed now, it will surely result in some serious gaming by whales to bleed the treasury in their favour.
So weāre left where we started, in Daniās hands and should continue to trust he will do the right thing in the end when distributing the treasury.
1 Like
Agree 100% the snapshot for voting should be the same weight and eligible addresses that voted in the Sifu decision.
1 Like
This proposal is not a bad one, but it needs some details to help make an informed vote. The main one being how to compute the % ownership. From what I can gather, there are ~900K TIME tokens that make up the current market cap of $317M. Assuming 1 MEMO = 1 TIME and 1wMEMO =~ 60 MEMO =~ 60 TIME, that would mean:
1 wMEMO =~ 0.006666666667% of total market cap (or 150 wMEMO = 1% of total MC)
If the treasury is currently worth ~$687M (based on the dashboard), that means each person would get about $45,800 for each wMEMO, and perhaps more if a % of TIME/MEMO/wMEMO is held by the project and will not be compensated. Plus, thereās that 5% dev fund.
As others have said, thatās well below current price, so everyone would just rush in and buy as long as the price of wMEMO doesnāt exceed $45,800 although thereās still obv risk. There appears to only be 777.93 wMEMO in the SushiSwap pool so it represents about 7-8% of the total share. Damage seems limited but still seems most fair to start taking snapshots right now rather than wait.
As for those liquidated or what-not, thatās just a mess to untangle and thereād be no way to do it equitably, nor should it be the responsibility of the current holders. It was to be done out of Dani and Sifuās own pocket, but since the community tarred and feathered Sifu without any ability for him to even try to clear his name, I expect heās not going to be inclined to give back anymore.
Correct me if Iām wrong on the math. Iām sure I am missing a lot of details.
9 Likes
This proposal is ridiculous! The writing style clearly states that you just want to close down Wonderlandā¦ Easy way out;. While ācommunity takeoverā is written like the frogs will take overā¦ While it clearly is not the case. Itās just having a new treasury manager (and maybe some extra team members.)
To be clear: The only way you can earn your money back is by given Daniele the chance to make it right. Closing down Wonderland means you will lose a lot of money!
Vote against!
24 Likes
If this is the course of action, then I think that the wMEMO holders should be reimbursed at the value that they purchased at rather than the current value. If that is not feasible, then there should just be a concerted effort to remedy the protocol and move forward with it so that they may eventually get back into a profitable status.
8 Likes
How much money per wmemo? Thats the real question hereā¦
4 Likes
Can someone explain why it would be just wMEMO and not MEMO as well?
1 Like
Its simple math- thereās not enough to pay out funds equal to all time highs.
1 Like
Dani and Sifu, are you still going to keep your promise to make liquidation victims whole? There are people on the verge of suicide
1 Like