@0xWicked if this project is TRULY about the frogs, this change must be made. I also believe everyone should mobilize and spread the work about WHY they should vote no for these reasons.
I believe it is in the best interest of all Wonderland investors to vote NO on this proposal for several reasons. The vote is live for less than 48 hours.
I see a lot of people confused about “getting my full money back”. The answer is NO, this will NOT do that for you. The ONLY way to get your initial investment back is vote NO for this and let the treasury be managed to create revenue like it was meant to!!!
- The “backing price” is not a true number of payout you would receive in this instance. The backing price includes the LP’s for TIME and wMEMO. You have to exclude the TIME/wMEMO values from the treasury. This results in a MUCH lower value for payout. Why would they not already give the information in the proposal of price/MEMO to refund? Because they know its a shit number and less people would vote for it.
- You have people within the community that want to work to make this treasury valuable. Don’t vote to cashout when the MARKET itself and all of the assets within the treasury are at ALL TIME LOWS. They structured this dump force you into selling.
3) This proposal does not mention resolution anything about the existing commitments/investments the project has made in BSGG, Across the Ages, or the AVAX Liquidstaking platform.
- If you look at sifu.eth’s address the guy BOUGHT wMEMO at the lows after his news came out! A lot of it! You really want to pay him out again?? Also, his wallet needs to be EXCLUDED from the snapshot.
5) There hasn’t been a third party audit of the treasury- voting for a quick exit because you’re sad about losses doesn’t help you or I regain any of those losses or even fully understand what they are, and possibly bones us even harder. The treasury went from almost 1 Billion to ~700 Million in a matter of days. All of that loss can’t be due to the drop in wMEMO price if our treasury is doing all of these awesome revenue-generating things right? But we don’t know because we don’t have an audit!
- This proposal gives a snapshot date of NOW. Why now instead of before the cascades or even the Sifu doxxing (revealing of identity)? I don’t like this parameter at all. Whales can buy up wmemo on the market and then get a free profit.
These are the bare-minimum reasons why I believe EVERY person should vote NO
The absolute first next step forward (and the only one that should have been taken in lieu of the damn buybacks) is to pull the wMEMO LPs from Sushiswap. This is what makes OHM and it’s forks unique, we OWN our own liquidity, we can effectively vote to stop trading by just pulling it. That should be the absolute next step forward, during any of this. Allowing the LP to still speculatively trade while this announcement was publicly made was still complete negligence.