Thank you ser! We’re very open in how we can all pool and build wealth together!
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How would you get this started?
Btw, I don’t see a reason to exclude Dani. He fucked up with the whole Sifu thing but the guy out so much into this. Its really sad to see it all come to this.
5 Likes
Thanks for your question.
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Perform a comprehensive audit of the project meaning tech and treasury. Immediately cut off any internal and external liabilities.
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Issue a well crafted press release through our hired communications director to calm the markets.
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Stabilize the treasury by keeping productive strtatgies working and cutting off the ones that are not.
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Delegate duties and responsibilities into specific business units: (Governance, Support, Infra etc)
We can make it work and we can stop the bleeding here.
2 Likes
This is why I would love to still keep him on as an advisor only to the project. However, we need to also keep things in perspective in that his lack of judgment was a catastrophic detriment to the project. And like all things, he too can still be a positive asset to the project under the appropriate capacity.
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Thanks for the proposal, seems competent, professional, and provides stability in a very turbulent time
‘and the most important thing of all, the REAL Net Asset Value.’, I presume you’ve had a deep look into treasury- in your view what is the current REAL Net Asset Value
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Hey, thanks for your post! What do you mean by “lack of judgment”?
Hi and thanks for reading my proposal. I also appreciate you bringing this to everyone’s attention.
So yes, I was questioning the health of the treasury in that the price of the token at the time relative to what was purported in the treasury was indeed suspect. What do i mean by this? Well, the market knows how to accurately value and price the share of a company or in this case our DAO. I began to dig deeper into the financials when I started noticing that the price of Memo, wMemo, TIme was slowly bleeding downward daily even during non-turbulent times.
And so, we actually went through all the line items and removed assets that we’re circular referencing the treasury back. Things like, (Time, wMemo). These assets were actually included on the new fund page. The second item that caught our eye was how they included as credit their debt + leveraged positions. These two line items almost had a 1:1 ratio so we crossed those out as well.
The final calculation for the true NAV was approximately 45-50% below what was reported.
At the time, we calculated the true figure to be $387,334,355,02.
| BSGG | $78,677,685.43 | |
|---|---|---|
| WETH.E | $19,925,140.86 | |
| MIM-AVAX | $18,153,409.51 | |
| MIM-ETH | $10,720,358.99 | |
| MIM-FTM | $6,591,192.20 | |
| FTM | $5,685,609.67 | |
| SUSHI | $4,605,055.00 | |
| ICE | $2,613,000.00 | |
| USDT-ETH | $406,990.32 | |
| CVX | $241,486.00 | |
| CRV | $214,211.86 | |
| SPELL | $115,994.09 | |
| SPELL | $84,755.93 | |
| JOE | $25,263.35 | |
| USDT-AVAX | $1,773.15 | |
| DYP | $0.29 | |
| GURU | $0.16 | |
| AVAX | $0.00 | |
| NRCH | $0.00 | |
| TOTAL 1 | $148,061,926.81 | Available Cash |
| Value without Wonderland Asset | ||
| MIM-WAVAX | 150,137,991.40 | |
| WMEMO-MIM* | $88,401,604.13 | $44,200,802.07 |
| MIM-ETH | $20,082,492.00 | |
| WBTC-WETH | $12,583,738.19 | |
| SPELL, ABBRA,ETH | $8,233,140.86 | |
| MIM-TIME* | $8,066,543.18 | $4,033,271.59 |
| MIM-USDT.E-USDC.E | $992.11 | |
| -$44,200,802.07 | ||
| -$4,033,271.59 | ||
| TOTAL 2 | $239,272,428.21 |
1 Like
Hi there and thanks for reading my proposal.
I believe Dani has an incredible mind for creating amazing ideas. However, the project seriously lacked proper controls, safety guards, and adequate active management.
The obvious fact that he knew 1 month ago regarding Sifu’s past as a convicted felon and chose to still keep him on is just completely inexcusable. That’s just one example of poor judgment.
Then of course he and sifu made many reactionary sensitive statements about the project to try and control the price action is also something that should have been taken with better care. I hope that answers your question.
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Thank you for your interesting proposal Mikebcity.
Would you and your team be available to be fully be doxed and to share with the wonderland investors your investment and professional experience? After what we have experienced, if this project has to go forward, it must happen based on transparency and solid experience.
We would be open to the idea of being doxxed through first through a bonafide third-party auditor in the event of any malfeasance. Our position here would be to build and deliver transparent management and assign director roles and responsibilities to each of our primary core businesses.
– Some additional thoughts
Wonderland was never a DAO and it never gave the impression that was ever going to change. Poor decisions in execution and communication were unilaterally made. So many opportunities were missed to adequately stabilize the project. We have a small window of an opportunity to make this work.
1 Like
Hi Mike,
It is a well put together strategy for the treasury and how to manage funds; however, for me this continues the overall issue in crypto (especially DeFi).
I’m going to be extremely direct because it is what the space needs.
Not once has this project ever acted like a business. People should not fool themselves, DAOs are businesses, they offer more inclusiveness to the public due to the accessibility, but it is a business all the same. With the sole focus on pressing creativity/innovation and not building the business, many crypto startups are experiencing everything that all new sectors felt in the beginning, failure at the cost of creation. If you look back through sectors that experienced this in the last 30-40~ years they all have the same outcome, the first operation to structure like a real business was the most successful and took over the space.
For all of you who have turned around a business or established entities ground up that had continued success YoY, know the model must be set up first. Anyone can run a hamburger stand for a while and that is what these DAOs are, except with way more money creating an even more dangerous pool of results. Delegating duties into specific business units is not creating a business, it is a mitigatory resolution to continue innovation.
I’m going to assume everyone in Wonderland wants the protocol to be world class with world class results. This takes a lot of uncommon skill that is developed by lots of uncommon practice and you only get that with uncommon commitment.
What is your commitment? To your team, to your stakeholders, to the space?
What does your commitment aim to provide?
Where does your commitment expect to go?
How are you going to implement your commitment?
What are the mechanics behind sustaining your commitment?
Wonderland recently had a treasury of 1bn $ with no true commitments. Great creation and innovation, but no commitments. They must be written down and communicated such that everyone can be held accountable. Not by others, but accountable to themselves. If you can not be accountable to yourself, there is no reason to even think about the team or stakeholders or creating other avenues for investment.
Until devs start to bring people on board who understand how to build a business, DAOs/projects are going to continue to put themselves into these unfortunate situations. I have these discussions all the time with devs, just because you super smart and know how to code, it doesn’t make you viable at running a business. In most cases, it does the opposite.
So I ask you, what is your commitment and how do you plan to keep them?
Thanks Mike + All the best.
W
2 Likes
I don’t like turning down seemingly good ideas, but I just think there is too much of a mess at the moment, we need to fix what little we have left before even looking at another change.
You see and as I am sure you already are aware, and I speak as a long term investor in Wonderland, we initially involved ourselves in a project that once understood seemed like a really promising one.
The issue was and still is, from the outset the white paper the single most important thing that defines who ‘we’ are and our roadmap, was never updated in the way it should be. Then once we finally figured out our own roadmap, it changed and was constantly changing on a whim.
One minute we were doing something and the next minute something else. What should have been simple as buying a TIME token and staking as MEMO, became a question of do we need to wrap it as wMEMO? then the whole taxation argument reared it’s ugly head.
We ended up with people across the globe investing in something they had no real idea about, people getting their metamask wallets emptied, people wrapping MEMO and not knowing why, people sending tokens to the wrong blockchain and a little bit of a mess really.
This coupled with the leveraging which I admit I took a small advantage of, that when people over leveraged which should never been allowed to happen caused huge swings in liquidation.
Then we had buyback that had to be manually initiated, but were either late or in the case that when the sifu news came out, stopped all together.
My issue with renaming Wonderland is that whilst heavily tarnished at the moment, it is known. I don’t have a problem with getting rid of the current token names as it all seems a little OTT, but we have an eco system and a project with very real potential.
What we need it direction, leadership and properly controlled management with a doxxed team. In addition we need social media pages, profiles, tutorials, YT page with proper content, with mods and admins who aren’t children where the block people and ban people for saying anything negative which if your an investor is suicide as you are biting the hand that feeds you.
Dani needs a PA, who can translate whatever he wants to say into something meaningful and professional, using the right language and grammar.
Lastly and most of all, we have a decimated bunch of investors here who are 90% down, yes some through their own stupidity and some who genuinely got done over through no fault of their own. I truly feel this needs to come first, or there is no hope moving forward.
Now if you can apply the same proposal and integrate it into Wonderland then I would be willing to listen and even help get a solid proposal in place with you guys and I’d do it for nothing at all. Because in the end we will all benefit from it.
We need a clear road map for future mergers and investment of the treasury, that will only be approved on by a vote of the DAO. No chopping and changing, no more stupid ideas like Calculators that show unrealistic wealth creation or how many Lambos you can buy in a year. I want financial reports generated each quarter that are shared to the DAO so we know how we are doing, with charts showing the profit/loss of each investment, and encouragement for the community that no matter how much of the token they hold can have a proper say, whether it be in a good idea or proposal, not just a case of well I have 1 TIME and the other guy has 1000 TIME so his vote counts more.
But it is important to say and please don’t take offense, but there would have to be a collective effort, we would need to bring in other parties in addition to yourselves, there needs to be diversification in case something goes wrong. And lastly, risk management, this is so so important not only because it’s crypto or handling peoples money but because if something were to pop up like Sifus background, who is going to manage the fall out and mitigate it so it doesn’t cause the whole project to fall on its arse again.
That is what will make the difference and get us out of this mess we are in.
1 Like
Thank you for sharing your thoughts, and too, I was a long-time investor. With that said, the present DAO wholly missed the mark.
As for doxxing, I’ve answered that in my previous comment, but regarding moving forward, the best strategy is to immediately secure the treasury, install sound management and enhance existing business as our initial path forward. We can do this from day one. From there, and with proper execution and communication, we can begin our brand new road map towards proven capital deployments that generate additional direct revenue for our investors.
Hi and thank you for your thoughtful response.
Our group is and would be willing to commit to performance audits. In addition, upon installing the structure, applicable oversight committees would be in place to oversee our work and ensure transparent execution.
And as far as our commitment to the project, it would be a full-time job for us all subject to removal in the event we fail to meet our milestone expectations.
I don’t agree nor disagree, but at least is a serious and elaborated proposal, cheers
I know nothing about you to provide you support. What makes you and the team any different than what we had previously if you and the team aren’t being doxxed prior to community discussion and a subsequent vote. That’s like giving you my children to watch without knowing who you are and your certifications. For all I know you are a convicted criminal just like what we had.
If you’re not willing to get doxxed first before any vote and community discussion, then I wouldn’t be able support your proposal. Without being doxxed first, it looks as though you are making a cash grab on the treasury.
Every DAO is down 90 percent. The entire crypto market is down nearly 50 percent. How can a DAO or any business compensate for gains as well as losses?
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Thanks for your question.
Our approach is simple. Deploy capital on proven yield generating strategies. Invest in liquid hard assets.
Establish a governing body to enable our fellow frogs to have a voice. Provide a transparent body of work that provides all activities of businesses governing the Fund.
Simplify the approach where you have 1 token that is staked and is used for governance. I’m confident in my team would be able to accomplish this.
In these tough bear markets, our strategies would be making some incredible alpha to all of us through direct profit share, so to answer your question I’m quite optimistic.