I’ve noticed a few topics here talking about reimbursing investors, either for the buyback value or for their initial investment value. While I understand everyone’s frustration, I feel as though the proposal/discussion was rather skewed to one side without an in depth, rational look at the facts.
People want to empty the treasury and get their investment back? This isn’t a solution, this is damage control. Tunnel vision on just the issues isn’t going to help.
I too have lost 90% of my initial investment, I bought the top in November and have been hodling since then for better or worse, but, I DO NOT think killing the project now is the way to go. Getting a refund and asking Dani to start a new project isn’t the solution either, the trust has been shaken for any new project at this point. Proposing Dani to step down is short sighted as well, he is the main guy with the long term vision, not just for Wonderland but for everything else that is part of the frog ecosystem.
For the trust to be rebuilt, Wonderland needs to show its existing investors and the wider DeFi world that it can recover from this.
People grow, learn and develop more in adversity than in stagnation. These recent times have definitely stirred the pond and some frogs wish to leave (that’s alright, if they want to they can, an option can be available like the one that was proposed in the Abra and Wonderland Merger).
And in this adversity the first steps have been taken in the right direction.
1: Sifu is gone and is most likely not going to be back. Time will tell what will happen but if things get better soon after his departure then we can make the assumption that he was behind some of the shit we went through recently.
2: The wMEMO leveraging pools on Abracadabra have been closed. This means that people can’t borrow against their wMEMO anymore, and therefore there shouldn’t be any more liquidations.
3: No liquidations means that buybacks aren’t needed to keep the price of wMEMO in check. (IMO buybacks should not exist to bail out those that risked and leveraged, as their losses are returned while those that simply held and 3,3eed their way through ups and downs are left holding bleeding bags)
4: All this shit that’s been happening doesn’t take away from the fact that we have a massive treasury that has made sound investment decisions and is making a million dollars a day.
Whether we merge with Abracadabra or not, we have yet to see as the discussion is still on going, but burning this bridge means there is not possibility of redemption.
As someone in the Wonderland discord has said, the foundation is there and the first steps have been taken. Its time to move away from damage control and focus on reconstruction and growth.
