[WIP #4] - Wind down Wonderland, and give the treasury back to its holders

yogho · January 28, 2022, 9:58pm

Wind down now, let the prisoners go and rebuild with the new project which will focus on rev share from the beginning

jbtiv · January 28, 2022, 9:58pm

At the time when I initially borrowed MIM to try out looping I had used 20% of what the leverage available. It appeared to be safe. And I took them at their word that the smart contracts would successfully keep things above backing price. Cut to months later: I deleveraged significantly before the first one, tried to use the quick delever tool to do so but it didn’t work so I had to it manually in small chunks so as to not raise too much risk. The night before the second one, I tried again, and again it didn’t work, but it was also too slow manually removing little by little so I went to bed. Day of the last liquidation event: I tried both manually and using delever tool, leverage risk was still labelled “SAFE” and though I kept trying it wouldn’t go through, and ultimately got liquidated.

yogho · January 28, 2022, 9:59pm

leveraging on an experiment man, shouldn’t be Dani’s problem

sech · January 28, 2022, 9:59pm

Also, on reimbursing at purchase price, that also makes no sense. There’s not enough money to do it and the entire market is down massively. I’m underwater like most people, but realize the math would not add up. The only fair way is to do it is to redeem based on current ownership. If you think that means whales will buy to get more, then buy more wMEMO. It’s a free market still.

six20 · January 28, 2022, 9:59pm

DAP representatives (Dani and Team) said they would buy back and hold the floor around 49k using the treasury, which was valued at hundreds of millions of $. Based on that statement, many people added leverage with a liquidation price of less than 30k, which was reasonable. The DAO’s funds, however, were NOT used to hold the price floor. BASED ON THIS, ANY BUY OUT SHOULD OCCUR USING THE SNAP SHOT OF TOKEN HOLDERS IMMEDIATELY PRIOR TO THE MASS LIQUIDATION. The DAO’s failure to follow through on its commitment to the community (i.e., use the treasury to hold the 49k level), led to its complete destruction. Tis is the only fair solution. Wmemo holders after mass liquidation event are mostly scammers and opportunists!!!

Delasman · January 28, 2022, 9:59pm

@daniele Before closing the project, you should repay the liquidations first!!! I bought wmemo in November and was liquidated in the last liquidation cascade because AVAX Network WAS NOT WORKING!!! We were not able to deleverage!!!
And now I have 0!!! This is not fair!!!
From liquidations history I see that you started to be liquidated around 38-35k wmemo price, I expect you to repay to those who were liquidated under you and Sifu!!!

six20 · January 28, 2022, 10:00pm

DAO representatives (Dani and Team) said they would buy back and hold the floor around 49k using the treasury, which was valued at hundreds of millions of $. Based on that statement, many people added leverage with a liquidation price of less than 30k, which was reasonable. The DAO’s funds, however, were NOT used to hold the price floor. BASED ON THIS, ANY BUY OUT SHOULD OCCUR USING THE SNAP SHOT OF TOKEN HOLDERS IMMEDIATELY PRIOR TO THE MASS LIQUIDATION. The DAO’s failure to follow through on its commitment to the community (i.e., use the treasury to hold the 49k level), led to its complete destruction. Tis is the only fair solution. Wmemo holders after mass liquidation event are mostly scammers and opportunists!

rutterstation · January 28, 2022, 10:01pm

The wallet I had vMEMO got compromised and I lost $5k worth of vMEMO. I staked in early December, so you guys should have a snap of me being staked. Am I still eligible to claim my portion of the treasury and be able to use a new wallet that is safe?

Habfat86 · January 28, 2022, 10:01pm

Grow up kid, don’t use Leverage if you can’t handle it. Ask about those who are 90+ % down without touching their stakes.

cresus · January 28, 2022, 10:01pm

main question is: What is the amount in USD that each wMEMO will get?

JustDK · January 28, 2022, 10:01pm

Do not pay back the liquidations, unless you don’t plan on continuing with Wonderland.

Sifu will be removed, get a new treasure. move on with the project.

Heatscore · January 28, 2022, 10:01pm

I don’t think giving up on the project is the way to go.

There are plenty of capable people able to get this in the right direction. I’ve seen some good proposals both here in the forum and on YouTube.

Some ideas to start:

Hire a board of directors and the proper leadership team
Structure the company properly with a concrete plan (no more experiments)
Continue as a VC with a diverse portfolio )We all know great projects which need capital)
Hire a PR company to handle the marketing and clean up Daniele’s image. And to get rid of all the Twitter noise. We can’t have our leaders twitting all kinds of nonsense all the time.
Stake with lock up periods until there are no more coins left
Unite
Get rich

homeless · January 28, 2022, 10:01pm

They were willing to pay out of their own pocket, you don’t really have a say in this, man…

redcoatwright · January 28, 2022, 10:02pm

Absolutely not, you got greedy and you paid the price. It’s called personal responsibility.

polnareff · January 28, 2022, 10:02pm

ending wonderland wont pay for the frogs. only speculators will make money. i think the price will go up from whales buying to vote to close and pay they will be the ones that willprofit from this. we should give. wonderland a chance and time to make order. dani said he’s gonna pay for some liquidations. we need time to fiure this out. dont make decisions based on your current emotional state.

wolfofmainstreet · January 28, 2022, 10:03pm

$500,000,000 / 17,500 wMemo tokens is a per token value of $28,571. If you own .2 wMemo you would get $5,714. I highly suspect it will be much less than $500,000,000 we are splitting so it would be less. If we keep the treasury and it returns 100% APR (very achievable) it would produce $500,000,000 per year. The first VC project already produced 500% and an ongoing of 21% of an online casino. The choice to unwind is pretty obvious, let’s get some great treasury managers in and make it.

AJT_1970 · January 28, 2022, 10:03pm

I want to vote against as you say – but I am not seeing any voting mechanism on this forum. Can you tell me how to vote??

neoie · January 28, 2022, 10:03pm

Ser, will you be paying the ppl who lost on the 25k liquidations that happened this week? You had mentioned that those funds would be paid. Please consider those too.

idkidc · January 28, 2022, 10:03pm

Like this comment for the top, please!

Ny098 · January 28, 2022, 10:03pm

please dont vote for this. we are currently getting front run by anybody. even people that didnt even invest in the project are now gonna get a “fair share” of the treasury… lets rebuild.