[WIP# 22] - Defining Risk Officer and appointing Sifu as interim


[WIP# 22] - Defining Risk Officer and appointing Sifu as interim




Scope:

This proposal formally defines and introduces a new role called Risk Officer (RO).

Link to previous discussions:

[DAO Discussion] - Defining Treasury Council, TOs and Risk Officer
[RFC] - Defining Risk Officer and appointing Sifu as interim

Objective:

The main goal of this proposal is to improve the current treasury deployment process defined in WIP 15 by adding a Risk Officer to limit the DAO’s risk in all proposed fund allocations.

High Level Overview:

Deploying a treasury the size of Wonderland’s doesn’t come without risks. It is proposed to implement a Risk Officer position to ensure that Wonderland is not too heavily exposed to a particular protocol, directional, smart contract risk, or poorly vetted deal.

Low Level Details:

Risk Officer

This proposal introduces the role of Risk Officer to do due diligence on investments, directional exposure, and deployment of DAO funds into DeFi protocols.

This role requires a deep knowledge of DeFi. They are required to evaluate the risks of deployment into farms on a host of possible protocols, vet sourced deals, and other strategies. They should also be wary of Wonderland having too much exposure to any particular protocol or directional position.

All passed proposals from the Treasury Council are forwarded to this role for evaluation. After evaluating the strategy, the Risk Officer may submit the proposal to the multisig for execution, provide suggestions to reduce risk to what they deem acceptable (e.g. reduce sizing) and have the Treasury Council revote or veto and reject the idea if the risk is not deemed manageable.

The Risk Officer is not responsible for quality or profitability of investments or strategies nor provide advice on, but is in place to ensure safety and reduce risks for holders.

Any applicant for the Risk Officer position should be invested into Wonderland and have a sizable portfolio (minimum 5 wMEMO), to limit bribes and ensure interests are aligned with the protocol. The Risk Officer should able to prove they have a deep knowledge of DeFi and be doxxed, or be a well known anon personality. The Risk Officer does not vote, nor participate in development of strategies.

Removal of the Risk Officer

The removal of a Risk Officer can be done through a regular DAO proposal or through the same process established in WIP 15 for Treasury Operators, if it is believed the Risk Officer is acting against the best interest of the protocol (e.g. RO not doing their job or abusing their authority).

  • A majority vote from within the group of all treasury operators and elected moderation team is required to initiate such a vote.
  • The individual will have a minimum of 7 days to provide an argument for maintaining their position.
  • A Snapshot Vote lasting 72 hours will settle the decision.

Treasury Operators may not propose new strategies while there is no Risk Officer appointed. Managing current investments/strategies, farms, sales and DAO led investments can continue to be managed.

Compensation

This is a high skill requirement role, but it should not be time consuming. Therefore a good salary, but not exorbitant is suggested: 20k per quarter paid in a reasonably pegged (>99.8%) stablecoin the treasury has available.

Business and/or technical requirements:

To help with the current transition and ensure the Risk Officer Position is implemented and filled as soon as possible, it is proposed that Sifu is appointed as interim Risk Officer, without compensation, until a formal proposal to establish proper candidates is completed.

Elected Treasury Operators and other members of the Treasury Council will have to work with the Risk Officer to put in place a way to communicate efficiently.

The Risk Officer will also ensure that communication with the multisig is efficient.

Snapshot details

Link:
https://wl-l.ink/Snapshot/WIP-22

Voting options:

Yes, implement the proposal
Make no changes

12 Likes

The addition of a risk officer is 100% crucial and much needed.
My name is The Ferengi and I approve this WIP.

8 Likes

I am an alcoholic and I approve of this.

6 Likes

Given Sifu`s history and commitment to this protocol, I can think of no better person to do this job. I would hope that his appointment can be made more on a permanent basis, but I understand that, with SV, his priorities may lie elsewhere.
What mechanisms are being put in place to allow members of the community to feed up ideas to the TOs?

7 Likes

Implement the proposal

5 Likes

I am :panda_face: and I approve this WIP.

4 Likes

I agree to implement this.

6 Likes

This is a no brainer, 3000 yes from me!

4 Likes

We absolutely can not pay a convicted fraudster as our risk officer. This makes the entire project look like a sham. What with the huge investment in sifu coin this guy is slowly taking over the project from the inside out.

$sifu investment was voted by the DAO and it’s a good investment. And you must be new here cuz if you were here at the beginning you would have known that he was the co-founder of the project and former TM who built the treasury from 0 to unicorn and have been transparent on every trades he make during his time, not a single cent was taken out of treasury, what happened 20 years ago cannot judge a man today and majority of the DAO wants him to be back.

2 Likes

I also remember what hell let loose when it was revealed who he was I’ve also seen the Sifu Vision website…Not exactly transparent.

SV site us designed to be simple, all information can be gather in SV discord.

1 Like

I looked at the Discord and found lack of transparency there too. It’s not painting a strong picture.

What’s not transparent about SV? Both his EOA and SV wallet are there for anyone to put on a watchlist, you can check sifuvision.eth on both debank and zapper and SV token is a simple buy hold redeem and redemption, pretty straight forward protocol, nothing complicated about it.

2 Likes

Building real fake money is hard to do. Lets be the least stupid. Yes to this WIP

2 Likes

On board with the proposal. Always appreciate Sifus insight.

4 Likes

I would vote yes on this. I also think SIFU is the perfect candidate for the position and anyone who is worried about that can rest easy since RO isn’t on the multisig.

3 Likes

Voting is now live!
https://wl-l.ink/Snapshot/WIP-22

1 Like

SifuVision (website and all) is a project made for his supporters, not very complicated and on purpose very meme like. You are more than welcome to ask on the discord for info, either in Wonderland or SifuVision, if something isn’t clear.

I’d like you to read the position again and see what exactly the RO does and does not do, understand that Sifu is doing us a favor by being an interim in a position that we will have an open call for.
Not having the position open for weeks and weeks that process takes is important in the current transition phase - he is also not getting paid, so not really sure what your issue is.

1 Like

I remember that as well, lots of uninformed fud happened, people panicked and lost big time.

Through it all Sifu stuck around the community to help and support us, after getting viciously attacked and threatened, etc pp.

Happy to point you at the forum post we’ve made in the beginning of February to get the facts, or come to discord and ask - as it seems you are judging rather based on half information, which isn’t really fair.

1 Like