Leaving Treasury Strategy to Daniele and his team

1. General Discussion
#5

Agree strongly. Dani and Sifu have done very very well by all of us. They already are listening to us. The DAO should be extremely cautious of voting for anything which forces them to pre-approve their moves, budgets them, or otherwise takes away their ability to react to ongoing market conditions.

When it comes time to lay out big expenditures from the treasury, our input should be in the form of an advisory vote or general request for things we would like to see- versus specific dollar figures, particular purchases they must buy or deadlines for them to meet. This will leave them the freedom to cut deals, wait for the right time to act or walk away from a bad deal.

7 Likes
#6

Totally agreed.

Better leave it to them whom will be a final layer of approval than to people whom are making decisions based on individual benefits.

It’s community/company over individual.

#7

I’m in the situation to agree in part with you guys.

I state that, when it comes about investment, I don’t trust blindly nobody, but, like I said in other post, Dani is one of the smarter guys in this environment afak.
The projects that he has created are really solid and the team behind is very capable to manage it (Sifu is doing great with Wonderland management imo).

I like to discuss and know what the users think, but if I have to choose, I’ll prefer to listen first to Dani’s proposal and think about it. The key of this has to be transparency tho

Nevertheless people thinking could be a huge help to find brilliant ideas.

#8

We’re apes (figuratively and genetically) and apes generally have a hard time imagining the world without an alpha male in charge. It’s why we’ve had emperors, kings, presidents, prime ministers and so on. And God.

So there’s an argument to let Daniele carry on making decisions on a whim, as he and the team see fit. The beefs with Zeus and Trader Joe just solidifies the Frog Nation behind Daniele, right? The proposed ‘takeover’ of Sushi is genius, right? The selling of Avax before it dipped was prescient, right?

Thing is, I can’t think of any leader throughout history, off the top of my head, who played their ‘A game’ throughout their lifetime. Maybe Alexander the Great or Genghis Khan, it could be argued, finished on a high. But it’s rare. Even great leaders tend to fall from grace eventually. And it’s often from trying to bite off more than they can chew.

I don’t really think it matters right now, as I think anything Daniele puts up for votes would win in a landslide, and the vast majority of the Frog Nation are more than happy for him to be a benevolent dictator, so to speak. But think about long term. Is having all that money and power in the hands of one man (or him and his friends) a good thing?

Remember:

Power corrupts. Absolute power corrupts absolutely.

Food for thought.

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#9

I believe leaving Daniele in charge is the best decision for the protocol at the moment as long as he communicates and uses transparent channels to make these decisions. I know it will be hard for some people to admit it, but In many ways he is TIME.

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#10

yup, let Daniele and the team do their thing and be transparent with us

#11

yep 100% I think Daniele should lead

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#12

I do believe that now in the beginning and for a foreseeable future it is a good idea to stay dynamic and use the expertise and proven track record of the team. Let them do the moves!

#13

I fully agree with this quote.Transparency and communication would be key.
I would love to see the exact match of the treasury funds with the list of addresses containing the different assets on the different chains. I tried to match the treasury balance with the zapper.fi bundle detail of these 4 wallets and I coudnt match it no matter I dont count the amount of time.That would be an example of full clarity and transparency

#14

Agree, but would like to hear about their vision for TIME, outside of treasury management.

#15

Totally agree, we should let Daniel and his team do what they do best, specially because me myself I’m one of those who doesn’t know what’s best for the project.

Therefore I know that I’m am not going to vote on any or almost any proposals, but I also know that some people are going to vote despite having no idea of what they’re doing.

#16

Not being funny, but Daniele has created something that no one else has. Why would I want to trust the masses when we can trust the genius who’s got us to this stage? Sure other decisions should be down to a vote, but I somehow feel leaving the treasury in the hands of regular people who know fuck all about defi is doomed to fail…

1 Like
#17

Daniele touches on his vision for Wonderland in this video (at 13:55) A Chat with Daniele Sestagalli, Founder of Wonderland (TIME) | Avalanche House - YouTube

#18

Ya I have heard that but I was looking for some updates. AMA was good; definitely inspiring.

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#19

IDK, the fact that leveraging and borrowing was allowed in the first place by the management team, with their own projects and products to bolster the treasury and artificially inflate the price was a terrible idea. Obviously. I had no idea how many people were invested in the project with money they didn’t have expecting they would be rich in 2 months and could pay off their debt and get a lambo. Whatever has been going on the last 4 weeks did not have to happen the way it happened. Time would still be down with the rest of the market but i dont believe it would have hit 2700 from 9000 in that span of time if that kind of leveraging and borrowing was not allowed. Now your going to have people jumping back in and doing the same thing with whatever money they have left after being liquidated to recover some of there loses and its going to keep going down. If this doesn’t stop we will hit backing price and hit it soon. Saying dani created this new thing and is some kind of financial wunderkind is wrong, This is a copy paste fork and there are like 10+ of them now (this is called creating descent in the community instead of debating an idea btw and i will be banned by tomorrow) So far the treasury strategy has set the charts down like a paper airplane with a rock tied to it. If you print money “MIM” and then lend that product you make to someone so they can go buy another one of your products “TIME” at a premium just to build your treasury. That to me seems like poor asset management. And as much as i like Dani as a person from all the interviews i have seen, his views match my views on personal freedom and future of finance. He is admittedly a hot head and from what i have seen a very much shoot first and ask questions later personality. Would it hurt to bring someone on the team at their level that can be the straight man? Someone that could have said a month ago “Hey, if you keep lending like this and the price drops 3k all the people that borrowed are going to get liquidated and your going to have a liquidation cascade”? The top had all the data and metrics. Looks very much like 600million of tvl was borrowed and the stakers wrote a check their ass couldn’t cash. And if that is what happened, that is %110 on management being shortsighted. We went under 3k earlier. As much as that is my problem, i am not the one that caused it. This project needs a “treasurer” to manage the treasury and how it retains its funding.

[DAO Discussion] - Continued Treasury Management by Sifu
#20

Agreed I have faith in Daniele in the team which is why I’m so heavily invested in wonderland

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#21

i wouldnt blame the services but the people being irresponsible with their decisions, misusing or the mismanagement of a tool its most of the time fault of the people that uses it, allowing this service wasnt bad per se, and it isnt a bad service, but people being stupid about it was bad.

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#22

I agree with leaving the treasury strategy up to Daniele and his team. I do not have the time to sit, study and watch the crypto market. So far this team is doing very well and have my trust and support.

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#23

Aren’t they paid to do just that? Let them continue for as long as they’re doing a good job. Even in a family we don’t have a vote every time mama wanna go to the grocery store! Or papa gotta buy a new family car.

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#24

both sides of the debate are reasonable. daniele & co are doing their job real fine vs. eventually a human makes mistakes. but i think i’m leaning towards daniele. he has proved his expertise. i’m not sure the dao would be able to make the decision to sell AVAX at the top like that, we would’ve just hodl’ed, or taken up too much time and didn’t get to sell at the top.

for example, the mirror protocol on terra. they recently became much more decentralized, and boom, all kinds of scam proposals, trying to con protocol’s treasury into their own wallets, and god-knows-what proposols are being put up all over the place. it’s messy. given how large wonderland’s user base is, we could be heading in that direction. and i’d rather not be in that kind of environment, for now.

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