exactly. Wonderland holders can invest in SPELL but not be diluted by current SPELL holders
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I’m down 70.89% from my initial investment. Will this conversion to SPELL compensate me for my loss? I don’t mind getting SPELL which I have already. But how about my huge loss? I don’t mind fully investing and transferring my wMEMO to SPELL, but with some sort of compensation, because I could have just spent all my money on SPELL a few months ago, instead of TIME - So let’s merge, but I need an extra incentive for my loss. Good luck everyone.
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no it will not. you will be furthermore diluted
glad to see that there are people in here actually aware of the consequences and not blindly following the leader.
Dani and Sifu made fuck up after fuck up and besides constant remodeling tactics nothing good has actually happened.
If they want to regain Wonderland holders trust back, they should actually do something +EV for them not use them for exit liquidity.
Worst decision was switching from TIME. Everyone here came for the APY, that feel of receiving a 1.8% daily on your (declining money) was what kept most. Yes its a ponzi, but we all hoped we can earn more than the price depreciation + the treasury was constantly growing from the bonds.
wMEMO became a sitting duck not doing anything else but be just a tradeable token and a high risk leverage token that self imploded. It feels like all SBF futures markets that only go down.
Yes, I am aware of the damn cookie jar/ token split analogy, but psychologically wanting to earn yield and having a token that does nothing is what let to this outcome.
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I don’t really have a choice, even though one is presentled. I don’t like those kinds of choices. It probably is a good idea. The group of different appllications and projects is what has always given me confidence in the outcome of my investment. In my mind these projects are already one. Additionally, this is the same structure that the other successful DAOS are adopting. This isn’t original, but this ecosystem is the biggest, and it has an edge for that reason. So I will vote for this. I see the value. Under other circumstances, I might feel no hesitation. But there is a lot suspicious behavior right at the same moment this was proposed. And most people are at a loss at a time when you asking them to exchange something they had built up for something else of some questionable value. The overall message sent out is we reduced the value of your investment but now we’ll buy it back at a discount. You can keep it or accept the buy out. It’s in very bad form. It is the definition of what corporations do to the small people. It’s exactly opposite what the supposed Frog nation is about. So merge to your delight but if you really mean to be a serious organization you’re going to need to find somebody who can hold the team accountable going forward. You need internal standards of operation if you are going to be a big player.
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Vote against.
Criticism:
- Selling the treasury at the bottom.
- Points of mismanagement: WL quite literally exploded, and was probably a bigger success than the founders anticipated, as such human error is to be expected. Yet the transition towards wMemo, RevShare and a general sense of structure is something yet to be delivered on, even while we hold plenty of resources to do such.
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I like this proposal: Proposal: buy abracadabra
Let WONDERLAND buy ABRA instead of the other way around.
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I totally agree and would like to add some up size that all this. Revenue shares would be given out in stablecoin and planned to be claimed on all networks that Abracadabra is on. Plus spell would also be capped and all emissions would be eliminated so there be no more selling pressure but buying pressure
Aside from the fact that it may or may not be a good idea, I got the impression that there is just too much going on in such a short period of time. Let’s take a step back now that we’ve switched to wMEMO 
I want the option to get allll my loses back cause it’s only fair right?? We aren’t responsible for our money, they are and they should have made us alot of money with no risk at all. High reward no risk that’s what was supposed to happen.
This is so unfair we don’t get all our money back. We should also get all spell holders money too on top of all the fees from spell.
We were told we would make 50 million in 1 year. So we should get at least wmemo at 250,000 and a free 10k fot everyone troubles. On top of the spell tokens and the fees they got from liquid cause we assume no responsibility for our money. When you invest your life savings i expect a guarantee that I’ll never lose any money and I’ll be rich in 1 year. SCAM
Easy frog it’s a vote not not a headhunt
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A step back while the treasury keeps getting drained? Soon it won’t be one lol this decision has to be made sooner than later
- If really our treasury is making 1 Million per day, why merge.
- Also, why are performing buybacks and wasting treasury that can be used to generate more revenue
- If the treasury revenue is real, then stop the buybacks and just start doing the revenue share to people who stake wmemo - revenue share only if you stake for minimum amount of time and the longer you stake the higher percentage of revenue, this will avoid sells ?
How is the buybacks beneficial anyways if we are shifting to a revenue share model? This does not make sense. Unless we are propping up the value to support liquidation prices for someone or t show better pricing for merger(which again should not be based on mcap but earning potential)
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The benefits of the merger are not clear. What is the revenue that SPELL is making today? And what will it make with the merger, will it benefit Wonderland or SPELL holders ? The swap ratio should be based on revenue being generated rather than token value or mcap?
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Also, lot of confusion on Team share of the tokens, how will the 5% share to the team translate when you swap to SPELL?
In conclusion, we need more details on current financials and also future projections to take a better decision. If the merger would help everyone equally and ensure better returns to everyone involved then a thumping YES else NO
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So I’m new to crypto in general, and after listening to the AMA it seems like a lot of the problems have come from the backing price. As someone new to crypto, this is something that drew me in because I always felt like there was somewhat of a safety net.
However, I feel like this concept of the backing price has led to a false sense of security, especially when tapping into one’s wMemo collateral on Abracadabra. With this in mind and after reading the proposal, I think further discussion needs to happen because I for one do not believe that it is necessary to merge both entities.
Especially when we are on the verge of beginning revenue share, which is the true value of Wonderland. I believe going forward it would be more beneficial to remove the backing and let the market decide the price. That being said, there should be a window of opportunity for those currently borrowing on their wMemo collateral to pay this back at the backing price so that we can start on the new chapter “fresh” so to speak.
I like the idea of continuing to display the value of each wMemo in terms of Treasury Assets but rebranding this as something other than the backing price. Also, going forward can use the metric currently known as “backing price” as a benchmark for revenue share.
For example, if the price of wMemo drops back down to $21,000 or even lower; then the profit potential of revenue share will bring buyers back into the market given the previous estimates provided by Sifu of approximately $2,000/month per wMemo. Given that revenue share is isolated from wMemo price action, buying wMemo at a discounted price magnifies profit potential.
This is what I have come up with as a baseline over the last few hours as possible ways forward without merging both entities. I feel like wMemo holders would be selling themselves short by migrating over to Spell before we begin to realize our true earning potential.
This has always been a long term play, but the use of the rebase model, while effective at building the treasury, has led to widespread confusion among the community as to where the true value of holding wMemo lies.
I know that I am nobody of any importance in this space, but I stand by my ideas and truly hope that they are given some consideration.
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he has a fair point and a realistic view: 30% to the team is also ridiculous maybe 5% another thing is spell dilution to add to the slap were getting
Fair market value is difficult to establish but if enough holders want to exist it well be around backing price. However, if the release of the treasury audit. helps to still fud and wmemo price recovers organically then it would be in a much stronger place to ask for100k per wm. I dont think they want to do that tho. We have to be realistic and see whos asking us to merge its our own leaders project manipulation at this point.
This is actually very good!
Many of the gamblers are screaming what for the ath buyers etc. - much better question imo is how will the since day 1 hodlers be treated? Day 1 I mean September and not November etc.
If someone holds since the beginning, there is no better proof of faith in the project. Exactly those should be considered the most. Not only the 90% price drop but also the accumulated rebases which amount to a minus x9 or even more since september, we have persevered!
By the way: still holding and as said, never sold a penny until now.
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It would make more sense to distribute the SPELL tokens at the current market wMEMO price, and perhaps drip feed the remaining SPELL to those who stay over time
Otherwise any valuation above market is going to cause a cascade of people selling to get out at the higher price.
The max price is about $105k based on how many are available, distribute at the current $35k (or whatever it’s at at the time), and add the rest to the revenue share distributions.
This is a good way to prop up the revenue share numbers too.
This wouldn’t be that great of an idea since SPELL was also at an ATH when wMemo was so instead of like getting it at current price, we’d be buying in when it was $0.20 - $0.34 but I agree maybe this can be worked into it like depending on how long you held wMemo you get a discount purchase on SPELL so instead of buying in at $0.08 if you held since October you get in at $0.01 and November you buy in at $0.02.
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When is the vote?? Seems like a great idea. It will bring the value of $SPELL on a up trend pretty fast.It seems that this is what most wMEMO hodlers are looking for + compound interest. It will be amazing. I’m in!
Merging to SPELL would get us a nice APR (assuming APR of both wonderland and sPELL are merged) up to 600%+ daily. That would simply be amazing. Let’s do it!!
- $SPELL is listed on all major exchanges!!
Yeah ETH is a bit expensive for some people
Don’t like this idea. How do I vote no?
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