Use Wonderland Treasury to purchase a portion of the remaining circulating supply of $JADE

1. General Discussion
#6

Believe me I completely understand the skepticism in this idea. I’m not trolling and perhaps I am a complete degen idiot for submitting this proposal. You all have every right to question my intelligence considering the fact that JadeProtocol’s team was extremely successful is tarnishing their own reputation via the self-imposed FUD campaign and recent lack of communication. However, I still stand by what I say.

I understand the FUD surrounding this project and it’s totally reasonable, however, the evidence contradicts the idea that this is a rug pull. Perhaps, I don’t see what you all see but the mechanics of the price trend don’t point to any rug pull. Again, I implore you to read the Jade roadmap and DYOR. If you’d like me to explain my rationale behind something more specific regarding this topic, I’d be happy to do so.

Additionally, a $5-6M proposal constitutes ~0.6% of our treasury. This isn’t an excessive amount and doesn’t necessarily need to be this high. The idea that proposing such a “risk” is some how unconscionable simply due to FUD is frankly a beta notion. When the facts change and the evidence proves otherwise, if you can’t let go of FUD as quickly as you latch on to it then you’re most likely ngmi.

(side bar: these forums are meant for real discussion. notice how I made an actual point while also calling the three of you pussies without ever actually calling you such. i strongly advise that in the future you find a more productive way to make a real point as to why someone might be an idiot rather than directly calling them one. just because the emotion based response to 12/02 got us these forums does not mean we’re here for emotion-based tit-for-tats lol. oh and one last thing. if you go out of your way to accuse me of doing this very thing because of the fact i’m lecturing you right now, then you’re kind of proving my point. i’d like to remind you that these DAO discussions only move forward via positive community engagement. if you don’t like an idea and don’t want it to get any traction but you have no point to make in regards to it, then do the smart thing— ignore it.)

2 Likes
#7

Love the post and criticism. The community is supposed to do what is healthy and bringing new projects to the community can be exactly that. I have followed and invested in the FLF economy and one thing I think interests me in this and Wonderland is the prospect of being apart of the screw VCs and being apart of PEOPLEMAXI and DEFI. Though many have the wrong idea of JADE/SMRTr because of their arrogant/degen/cultonomics behavior, they have taken care of their community and hopefully will continue to do so. There has been numerous times where the co-founder has wanted to work with DANI. maybe we can actually do good as a community and push this forward. Remember that they are trying to use their treasury, if Dani can leverage not only Wonderland but Jade, and vise versa…could be amazing.

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#8

If Jade is a rug pull then why would we want in

#9

In order to answer that question I would first have to know why you believe Jade is a rug pull in the first place. So please kindly enlighten me what specific reason(s) make you suspect this.

#10

To be fair, you point out the amount of FUD around the project, but say you don’t believe it is a rug.

Fair enough, but then you tell us to “DYOR”. Unfortunately, if you want to propose using millions to invest in what people believe to be a rug, you need stronger arguments then “I dont think it’s one”, “DYOR” for me to vote yes.

It shouldnt be on us to say why its a bad idea. It should mostly be on you to convince us that it is a great one other then saying its “beta” not to and talk about facts without telling us what they are.

Your main argument is collaboration, but for a lot of us JADE is a failing project with a team that has a bad reputation. Why is that collaboration worth it ?

Also, would be nice of you to disclose of you have investment in JADE or what is your relation to them. Since that could be seen as more or less of conflict interest.

Happy New Year!

3 Likes
#11

Jades phase 3 plan of their come back includes a 100k bounty.

Here’s what the 3-phase process looks like:

  1. Our community (the Alpha Army) will submit thousands of proposals for investment opportunities (both in and outside of crypto)
  2. Our team will go through every single proposal, and filter the highest quality briefs
  3. The top crowdsourced proposals will be presented to the community as a vote. The winning proposal(s) will receive an investment from JADE, and the person(s) who created the proposal(s) will be rewarded $100,000
#12

Sounds like you are holding Jade and want to use Wonderland to boost its price.

1 Like
#13

Not me, I went and read about it. I lead a rather boring life.

#14

You have to be kidding me… they are using Jade investors to find investment leads for them…and will leave investment decisions up for a vote? This is possibly the stupidest thing I’ve read all year…

There is a reason why Wonderland has a Treasury manager who has experience in handling hundreds of millions/billion dollar funds. You can’t leave this stuff up to a bunch of kids who ape into a billion % apy project to give you leads on how to spend tens of million of dollars of treasury money. This is the biggest setup for failure if I’ve ever seen one.

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#15

sorry that was for the person who made this and not you

1 Like
#16

All good, , Twenty character law.

#17

Take a look at their previous projects (SMRT, SMRTr) and now Jade. You might not think its a rug but I think we can both agree it’s not a success. Most of their investors lost money, and I doubt the devs lost any.

I don’t understand why you think its necessary for Wonderland to step in and bail them out. What about every other rug or daos that went under due to poor management? Should we hand out money to them too for the sake of solidarity?

We do not have the responsibility to help out other projects. We are a 4 month old start up. Our focus is to carve out a sustainable path forward. No Ohm fork has even existed for more than 6 months and Ohm itself has been around for less than a year. It’s very much a competition for survival and investing our money into a project/team with a track record of failure is a pretty stupid idea. Jade devs took millions of treasury money and went on vacation 1 month post launch… you want us to invest in that?

Sifu as addressed this many times in the Discord chat. They will manually buy back at backing price.

Jade is not a competitor to Wonderland.

Jade has a sub $70 million treasury. Their goals for growing it is by having their investors give them investment ideas… the same investors who are stuck holding the bag after a 90%+ drop in price…

We have almost a $900 million dollar treasury (and growing) that’s actively being managed by our Treasury manager (not a dev).

I don’t think Danielle and Einstein share the same vision. Just look at the video on Jades website.

3 Likes
#18

From my understanding they first rug pulled smart Coin than they did it again with smarter Coin now Jade will be the third time the devs don’t have a great track record

2 Likes
#19

Best comment of the year

#20

This is like Amazon buying some of Walmart to help them sell more goods. I would vote “hell nay” for this proposal.

#21

Miss me with these rug pulls like Jade and all others.

Accept that you invested in a rug pull pal and move on with your life.

Stop shilling your crap in here, this is not junior league where you’re coming from.

#22

For sake of transparency:

  • I hold 13.2847 $JADE
  • I am not a dev or affiliated with the team at JadeProtocol other than being a holder of their token
  • I’m not posting this discussion in an attempt to get wonderland to pump my position
  • I don’t think that Jade is a rug, however, I do agree that they have a shitty track record

Part of the reason why I posted this discussion was out of excitement for how JadeProtocol planned to move forward. It was the middle of the night when I posted and I admit I wasn’t being diligent at all by rushing to post my idea.

You all make excellent points and I admit that the shotty track record of Jade Devs, Overall risk of the project, and the potential harm it could cause is undoubtedly not in the best interest of wonderland holders.

With that said, I personally am going to hold my position and see how it plays out… I do want to see their project succeed and be implemented successfully, however, I do understand the nature of the risk I’m taking.

Overall, I brought this up because I’m just excited by the idea of wonderland cosigning and having a controlling stake in other exciting DeFi projects— we are a fund after all. But I do concede my point: I no longer think that this is a good move or good use of Treasury Funds at this given moment.

I wanna thank @NalXes and @Nate111 for taking the time to craft your arguments; you two showed a lot of class and I appreciate it. I wanna thank the rest of you for your responses and for giving your honest thoughts as well. I admit that a lot of points in my initial post were quite naive. The DAO consensus on this topic is obvious and I concede on my initial proposal in agreement with all of you.

Lastly, please let me know if you would like me to leave this thread open or delete it. I personally don’t mind leaving it open but i’ll let you all decide.

(Btw Sorry for taking forever to respond to all of you. My flights keep getting canceled and I’ve been stuck in a layover for over 16 hours trying to figure this shit out lol… fuck omicron -__-)

5 Likes
#23

Just want to say one last thing too. I love wonderland and all of you. This is by far my favorite project because of its team and community. I sincerely want this project to do well not for profit, but because I believe in what we’re capable of and what we’re going to do as a result. This is the main reason why I stepped down from my proposal. I come from options trading and I admit my risk tolerance is higher than most, but I would never intend to hurt this project. Thanks for giving me the reality check you all did though. Everyone has to do the walk of shame at some point, but I hope I handled it in way that was at least able to earn some of your respect in the process… #FrogsHelpFrogs

4 Likes
#24

I dont like this idea, a lot if poeple already lost money on Jade and you cant compare the two projects Jade and Wonderland. Its a different level. Jade is not Life DAO (xD) but despite this i think Jade gonna fail in the close future. DO NOT INVEST IN JADE.
Live Long the FROG NATION.

#25

The point of this forum is to openly share ideas for the purpose of improving Wonderland. Don’t feel bad for your suggestion and I apologize if I came off a little aggressive. I really don’t like Jade especially how the devs talk down to their investors after rugging multiple projects. Thanks for sharing and hope to see you in the Discord group.

3 Likes