Also please find a sustainable solution from the whales selling when its high. There needs to be a lock up period or something.
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the problem with 1 wallet 1 vote is that people will make scripts to distribute their funds over 100ās of wallets. So then the people with most money will have most wallets and most votes.
time weighting makea sure that long term holders get more votes.
quadratic voting means we scale the number of votes, if you have a few shares, you get a tiny bit less. if you have a lot of shares, you get a whole lot less.
Together we hope this is enough for every frog to have a fair vote.
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Hey, no we donāt work with Bastion. This proposal is actually less good for Bastion and other teams that have applied, because they only get the manage part of the treasury. Instead of all as in their own proposal.
But itās good for us, because weāll have different teams competing with small parts of the treasury. Because weāll be much healthier long term.
Check the medium link, there is a more detailed description.
As for doxxing, I never thought about that, Iāll have to think for about what the impact is, generally open to the idea atm. More important, I asked some frogs together and we developed this proposal as a vommunity effort in 28 hours. And we continue, with a growing group to develop this proposal.
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This is not official communication from Dani right? Goshā¦your post made everyone think this is their plan.
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I would add that unlike Bastionās proposal, this one involves additional oversight by full time employees and a part-time oversight committee over the people trading / farming the funds. That means that any malfeasance will be noticed much more quickly.
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you need to go for a walk and get some fresh air
This and anyone on the treasury team or on the multisig needs to be fully doxxed with background checks complete for each individual.
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Yo, are these guys going to win our tresury?? Please vote NO on this proposal from November that expires in 2 hours!!!
I would like to move the snapshot to last week (i.e. not January 29) because the whales started buying below backing the minute Dani mentioned on twitter that there would be a vote as to whether to liquidate the treasury, and that was about 3 days ago or so. We need to put the snapshot to at least a week ago, and include all chains (I was still holding my wMemo on Fantom in the Popsicle pool so I wasnāt even eligible to vote to not dissolve the project! smdh
I also think thereās no reason to immediately sell all our treasury assets to MIM ā¦ after all, we would be selling at the bottom of the bear market. All we would need to do is transfer the assets proportionally to the new treasury (or transfer them proportionally to where they need to be transfered. No need to sell to stables at the absolute bottom!
Thanks so much to whoever put together this great proposal.
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I like the overall organization of this. Looks like there is a lot of thought and is open to evolving. There are some good protections from abuse of the treasury.
I think having the statements about transactions are very important to the trust being rebuilt.
I will have to read over this more because one sitting is not enough. But a big concern will always be exposure to manipulation by whales. As people gain power within the organization there will always be a risk of someone wanting to buy votes in order to get control.
I am no financial genius and organizing a team like this is above me. But for all the bad said about Dani, I like the idea this DAO was built. Lets do our best to protect the little guys and their chance to have a solid investment that most wouldnāt have access to.
We need whales and they can also help to build this. But we need the right ones helping.
I also think we should forget about paying back the liquidations, and there should be no leverage feature on the new product. Leverage and liquidations killed Wonderland 1.0.
2.0 should function as a hedge fund / VC fund where together we have access to much more strategic and sophisticated farming and early access opportunities than we otherwise would on our own.
How can we even remove Dani. You think he would just hand over the private keys to a 800 mm treasury and say knock yourself out. Yeah right.
We need to do something though. I just donāt know what. How can we take action against someone who is waving his big dick around anywhere he pleases because he knows nobody can do anything about it.
Idea for future rebases structure.
Start rebases at low apy (5%) increase the. Based on how long you hold the memo/wMemo. Reset rebase rate if you sell. This encourages long term hold where maybe you could hit 100% Apy after 2 years of holding. This would also discourage short term whale profit taking.
Is nobody else at all worried that XAVA might try to take the treasury?? The vote for their snapshot ends in 1 hour and it predates all of this
I like this proposal generally but I donāt really agree with point #1 anymore.
This community is toxic and really stupid. It was obvious from the very beginning that the Sifu leak and the subsequent FUD attack was a coordinated effort by some people with deep pockets to try to snap up cheap wMEMO and aim for an arbitrage profit if the treasury got liquidated. I was trying to tell people on discord and on reddit basically constantly but the people were too emotional to consider objectively.
The response from the community was to fall victim to the āmarketingā blitz that was all of the FUD and telling people to sell and then telling them to vote YES on the liquidation proposition.
I just donāt think I can trust this community to make good decisions about the future of the project. With guidance, sure, but not generally.
@timeuser I agree we shouldnāt pay back liquidations, that was always going to come from Sifu or Daniās wallets, not the treasury. Anyone who got liquidated, thatās your personal responsibility and you fucked up.
That being said, we canāt unfortunately stop leveraging from happening. Abracadabra would have to be the one to not accept wMEMO as an asset that can be borrowed against. I donāt really see that happening.
No, that vote says nothing specific. We could allocate 1 TIME token to them (in theory) and still be upholding the vote.
It was not well fleshed out, probably shouldnāt have been submitted in the state that its in currently.
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Thank you soo much for the clarification @redcoatwright . I was honestly panicking we all missed something. it was submitted way before all of this
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I have spent the evening writing a similar proposal as I did not know that anyone had already come up with the idea. However, this was more detailed as my own was rather a message to everyone to unite and take control of Wonderland
We could all see how strong we where together in the voting. Together we are stronger than the whales and that rule always applies in all forms of future decision-making.
We are all gathered here because we believe in an idea and a vision and we can not let a centralized individual decision kill our decentralized project.
Very very good suggestions that I back up in all possible ways.
I am happy to join voluntarily and help to make this project a reality.
I think that, regardless of what Daniele comes up with, we should implement this. The whole project can not be built on trust in one man, it is not the definition of a DAO or the vision of the Frog Nation.
Thatās why I think we need to take Daniele down from the pedestal as heās obviously Wonderlandās biggest liability
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can anyone explain to me why wonderland is shutting down? the vote CLEARLY says no to that. so why does dani ignore the vote? cos he wants out? no problem. im all for it. remove dani and anyone who has anything to do with wonderland and let them hand over everything to the next management.
ignoring this vote removes any and all credibility that dani had left. he is an obvious liar and traitor. anyone investing in anything affiliated with him is the most retarded moron on the planet.
also i dont know why anyone is writing proposals? dani has shown that he doesnt give 2 shits about proposals or votings and siomply does what he wants. fact.
Yes many excellent ideas, I think Phase 2 is especially critical. As for Phase 3, not sure which country would be most suitable for establishing these offices for a DAO. The legal part is what Iām trying to wrap my head around.