It was WAY bellow backing for a long time.
But ok, ignore the giant red flag at your own risk.
Next time, it drops 50% bellow backing for a few hours. Hey, no one said it couldnt happen!
Everyone deleverages. No more borrowing. Price drops again.
Treasury runs out of assets due to buybacks.
The end.
I donât see a red flag here. As long as there are MIMs in the treasury, I am happy for them to buy some wMEMO back at 50% bellow backing, make some profits, and distribute it to all wMEMO holders.
Exactly, he is just causing trouble like earlier if you read his posts. Ignore him.
yeah and they can keep doing that until there are no more MIMs or anything else except wmemo too. Then they could just start over with the high rebase apy since, you know, no more revenue generating assets anymore. But wait, that model doesnât workâŚ?
also, the part about redistributing it back to wmemo holders⌠Cant people just sell that? You canât see where this is going?
also, with half the treasury gone, backing is cut in half. wont that, like, keep the price at 50% lower too after a small green? not much of a profit there.
its a sinking ship. a sail boat without sails and without wind.
I think its going to be really hard to get this passed through.
Like others have mentioned, those affected with liquidations have also lost power in the voting rights.
My read on sentiment is more frogs arenât sympathetic to our situation. With a total of 110 mims for wmemo. The majority of the voters will be those who donât have ties to abracadabra.
If it goes to vote our fate on this issue will not be decided by ourselves.
Sifuâs own liquidation seems like a pretty good motivator to resolve this before it going to a vote.
So you were allowed to add Abra project risk on top of Wonderland project risk which arenât even the same protocol in an already risky asset class of crypto you should already know that price volatility is super wild
Are you not just being super greedy? was an 80k APY not already enough? Couldnât make money in crypto normally so needed to be leveraged to the tits?
You donât get to go to a borrow money IRL, gamble it away and then go back crying and ask for a handout. Youâd probably already have your bones broken by a loan shark
It was specifically mentioned that the buyback price was going to be a manual function, and that there was no bots doing this due to milking of the treasury should people take advantage of the liquidation cascade.
Why should the rest of us supplement you monetarily if you guys are just after the money to be paid back for taking the risk that the rest of us didnât take, what logic is that?
You guys are trying to be like I gambled but I donât want to lose money give it back please.
paying back would sabotage the project.
yeah but abra is also from dani. branded as critical part of the ecosystem. big conflict of interest.
also, sifu handled it very poorly. signaled it was safe for weeks and weeks. until it was not.
no acknowledgment of any of this, just âits all your fault, deal with itâ.
the problem is not the money lost per se but the whole altitude and mentality that is transpiring here in the aftermath of the situation.
its the kind of situation where yes, you can say that technically nothing wrong was done, or at least not the kind of wrong that would be punishable or merit a reimbursement. kind of like bill clinton saying receiving oral sex is not sex. yeah, technically maybe, but you are just playing with words here to cover a f*up. its a slippery slope.
but we are the greedy ones right? not the people backtracking their words and hiding behind ambiguity to protect an investment that is supposed to be âfree moneyâ. yeah, this will be revolutionary, youâll change the world alright.
I got âscammedâ by the abracadabra oracle. Posted an update with confirmation from the dev. The price the oracle takes is taken with a 10 minute delay. I hope Dani sees this and adresses this. This is NOT frog nation, this is suits eating small frogs
yeah it was probably your fault, why be so greedy? everyone knows that money dont grow on trees.
could have just staked for free money.
filthy 9,9er, its your fault we crashed after you made the price go up.
leave us alone with our amazing frog journey.
just dont touch frog abra ever. cant trust that project. bad devs or something. completely different.
SIFU has always said this would be manual and not automatic. Which is exactly what happened.
-Its manual and not automatic.
-is it safe?
-I said its MANUAL. And NOT AUTOMATIC.
Funny that if it had not happened this way, they would probably be bragging about how fast they moved to save the frogs from being liquidated.
Sifu said: âlook safe to meâ
Yep. But its our fault we believed him. I mean, he is not special in any way, right? Just a random frog with no key role in the project. Also, safe doesnât mean 100% and looks can be deceiving. You just choose to believe that âlooks safe to meâ meant anything other than âanything could happenâ. Its basically the same sentence. He also said the exact oposite latter when you were sleeping right before the crash, its your fault you didnt rush to the discord to read his every word. Its the project hq. Also he was sleeping.
You sound so butt hurt its amazing. Go cry more to your mammy
Prime example of frog nation here. Im a bully right?
End of the day. Your complaining not gonna help your cause.
You took unnecessary risk. Take accountability.
End of the day. Your self denial not gonna help your cause.
Youâre twisting words to cover up theft/negligence. Congratulations, you could be the next treasurer.
Guess we will see in the coming months.
I think you. Like most of will recover. Took me about 2-3 weeks.
I wish the best for you. I understand why your mad.
Id rather exit at a loss, thank you.
Wont miss a bit, even if time goes to 20k.
It wont, though.
Because its not about greed.
Funny how no one actually dennying anymore what im saying and is instead resorting to shaming, name calling and empty promisses. Also minimizing the issue.
Halmarks of a healthy community!
I mean, narcisim much?
It wont take months.