How will redeeming the assets from other networks work? I.e. if I have 1 wmemo, will I get like 0.0001 ETH in my eth wallet because that’s the proportional amount in the treasury? Or will all funds be claimable on the AVAX network? Would kind of be a worthless for most people to get like $5 in a bunch of different tokens on the ETH network and have to pay $125 to trade each of them into ETH.
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How would the BSGG be distributed since I believe it includes a vesting time?
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This sounds like a complete cop out of Dani and his team is running away and not taking responsibility at all. What you should actually do, is get rid of the wmemo concept. Return to its core of just time/memo. Let the rebases and APY continue. Let the market dictate the price of time without any leverage or buybacks. Just let it be. By a year time everyone will be better off with no interference. We need the time/memo concept but not wmemo… because it’s basic human psychology. Wmemo you just see everything fall as you cannot actually see the rebases etc. Makes you feel shit. But atleast with time/memo we actually see it increase.
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It’s never going to work like that dude. You have to take the rough with the smooth with any investment.
The base simple principle “Your money is at risk” applies.
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It’s imperative to know when how the team will rectify situation from the malicious liquidation attack. This vote means Dani, Sfu get a golden parachute with our money.
I lost 90% of my Wmemo from 2 liquidation events within the same week. As far as I’m concerned this was insider trading with the intend to liquidate our assets. Now we have no vote and no Wmemo to claim part of the treasury.
If this is not corrected before this vote, I will be calling the office of Attorney General in New York to launch a criminal investigation into this. I will also consider the possibility of civil lawsuit. You cant rig the system to tank the prices and liquidate our assets.
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So just to clarify regardless of if we vote to stay it will no longer have an association with dani or the team? We wouldn’t go along with the vac model led by a new treasurer manager?
Are the cross the ages and BSGG tokens included in the value of the treasury if it is resolved and if a new body of people take over will people unhappy with that have the option to take their share with them?
Nope, I lost 2/3 of my value by selling my assets before hitting liquidation. Sorry, if I could do it then others facing the same outcome could as well. I’m not being given anything and nor should those who got liq’d. If Dani wants to do this out of his own pocket then that’s obviously his business but the funds should not come out of the treasury.
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Whales buying now are getting more voting power, just to claim a piece of the wind down.
This bad proposal should be voted no by everyone even those who want to wind down.
After 5 days we can come up with a new proposal to compensate those who want to wind down and those who want to continue.
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When it comes to money, trust and money go hand in hand. Given the situation we are in, trust is lacking and therefore the return of funds, I think, is the only feasible approach.
However, what is proposed here is not good enough. I sympathise with the turmoil Dani must be going through, but the bottom line is he knew about Sifu and did not tell us about it. Therefore, from the date he knew about Sifu, this became a matter of deceit. I dare say a lot of WL investors would not have invested if they knew a convicted fraudster was at the helm in charge of our funds.
In light of this proposal, we now have people who sold now re-entering in the hopes of at least gaining some of their investment back. The only morale and fair way to resolve this is to take a snapshot from that date Dani knew of Sifu’s identity. If Dani wants to help preserve his reputation and most of his other projects, I dare say he needs to ensure everyone is fully re-imbursed their initial investment. Now, I’m a realist so I accept this probably won’t happen, but at a minimum, each account who held at the time Dani knew of Sifu’s identity, regardless of whether they held, fully sold or sidestepped, now need to be included in this re-imbursment you propose.
This will be my final post on the forum. Good luck everyone.
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I agree. management is always key. as is proper communication
Ths is getting ridicilous. Team announced publicly over and over they they’re doing buybacks, at around backing price (the actual number was random to chase of whale attacks and exploitations). fair enough. made a whole big deal…lots of tweets, added limit orders to Sushi, and promised publicly that it would be done.
it doesn’t matter why those promises were broken, was it malice? incompetance? technical failure? who knows…
but those frogs…that got liquidated way way under backing price weren’t taking any risk. the only risk they took was to believe the team will actualy do what they themselves had promised to do.
so if those frogs aren’t compensated…this project is dead either way.
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I sold my WMEMO to preserve my what was left of my initial capitol. I started with $52000 but I withdrew it at $15600 a huge loss. Would I not be entitled to my lost funds? Do I now need to rebuy WMEMO to get the refund?
Thanks
Jonathan
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I’ll likely vote against it. The share that you receive after the snapshot is taken will just leave you with the breadcrumbs of your initial investment, thus realizing a loss. While after being down 90% and can go 90% lower, why not just keep the treasury alive and enable revenue sharing. The VC investments alone are worth it.
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agree Talal , faces of Wonderland Management must be seen, structure governance and targeted companies to buy restructure and exit
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It’s silly for us to wind down the treasury at this point in the cycle as all of the treasury assets have been depressed in the interim. If anyone wants to get out then they can sell now on the open market and take the hit.
Dumping all of these assets on the market in this environment will only further the price declines and hurt us more.
Let’s all calm down and take a breather and let things settle out. Main thing is we have the treasury looked after in the interim by qualified, vetted non-criminals and we’ll get way more than if we dump all assets on the market now.
Just my thoughts. Thanks for reading.
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Dani and sifu shouldn’t get a penny. Our money first
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GIVE US MORE DETAILS!
This explanation is incompetent.
How does the claim exactly work? You are being too vague.
Everyone can just buy WMEMO now and whales can then drain the treasury?
Do you solve this with a snapshot of a certain date where people held wmemo?
What is the deal here?
The price of WMEMO is already pumping because people are speculating but I guess that’s what you guys want?
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Exactly!! disolving the treasury only helps the whales!! look at price increase!! people buy since price is lower than backing price!
PEOPLE DO NOT VOTE TO DISOLVE THE TREASURY! its better to find a team to manage the project!
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Thank you, Please vote for my proposal
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I had so much more wmemo, but when I found out that an ex-con with a background in identity theft and money laundering etc. was MANAGING OUR TREASURY, I sold. OBVIOUSLY. Why am I being punished for now, currently, not having any? Should you reward those who invested in the original model and then got completely blindsided by this ridiculous shit show? I bought a couple weeks after yall went live, told friends and family, but since I don’t hold as much now? Or in some cases, ANY, I won’t get a piece of the treasury?
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