[WIP #3] - A United Front: Abracadabra + Wonderland Merge

3. [WIP] Wonderland Improvement Proposal
#487

Confusing means you have the opportunity to step up your game and learn a little more. May as well for you. You have to figure out why you are backing this, or not. Re-listen to the AMA linked above. Check the info you might learn some cool things that may surprise you. Or not. [WIP #3] - A United Front: Abracadabra + Wonderland Merge - #470 by NeighRider

#488

No! Anything that’s tainted by Sifu is dead in the water. How about Wonderland buys out abracadabra and fires Sifu. I do see a lot of upsides from this, especially if the liquidations go into the Wonderland Treasury. First, we got to get our house in order though before we make any huge moves!

2 Likes
#489

There is no way Abracadabra users are going to vote yes to this after the sifu scandal. this is a terrible idea… either distribute treasury to holders or make wonderland work with significant changes

1 Like
#490

Where can I vote…? Don‘t see a Voting Option

#491

Can someone ask my points of contention?

“Points of Contention:

  1. Time founders only hold 5% of the project while spell founders hold 30%. We would essentially be gifting Dani and Sifu $240,000,000 just by agreeing to send our treasury over to Spell

  2. Time earns compounding interest. Spell does not and we would also be paid at a much lower APY

  3. Time generates more money per day than Spell. Sifu himself said 1M per day for our treasury (probably 600-700k with the market down) vs. spell who just made their first profit ever last week for 140k

  4. Merging with spell would increase the number of holders, meaning the same VC would be split amongst more people → Less rewards per person, more time to recover just our initial investments

  5. If we wanted invest in spell, we would have done so back in October/November when we invested into Time. If we had done so we would have a much larger bag than what is being proposed now.

  6. Speaking of proposed now, mergers usually require a PREMIUM price for being bought out. Why would we EVER except fair market value price for time?? Instead of 40k wmemo it should be 100+k wMemo.

  7. This will only lengthen the time to recoup long term holders initial investments. For example, I myself invested ~12k into time wonderland that is currently worth about 4k. When Sifu said that 1wmemo would pay out ~2k, I was looking at $200/month or about 2-3 years to make back my initial investment (assuming price stayed the same). Now we we would be looking at 4-5+ years at the rate of spell or spell would have to rise from $0.008 to $0.0229 to break even. This would be much worst for people who bought the top of the market.”

#492

After going through the information I’d say lets not proceed with a merge keep the ships as they are and leverege the different projects strenghts and weeknesses to balance them out if they are seperated they can’t be a single point of failiure for the Frog Nation. Each individual would make their own risk profile by investing in whichever protocols they want. That way I think it would be best for everyone. Not consolidating the risk, but diversifying it in an ecosystem of products for the Frog Nation. Long Live Frog Nation!

#493

I just got an idea! I´m not a coder or a developer so perhaps someone can help me answer if this is possible to do. Is it possible to change the protocol so it functions like this: When borrowing against Your collateral, would it be possible to have the rebase rewards automatically repaying a certain amount let´s say 50% repay and 50% increase Your holdings? Please help me elaborate if You think it´s worth a thought.The main idea is automatically self-repaying loans.

#494

I don’t think you understand that rebases are just stock splits bro.

1 Like
#495

Please pay everyone who got liquidated below Daniele like you said you would, at least everyone under 25k

After that we can talk about the proposals

#496

Yes, I do understand that but the main idea is the auto self repaying loan. Thank You very much for Your answer, I love this interaction. So let´s explore this a bit further to look at what is possible and not. Would it be possible to implement some form of yield farming or interest earning from collateralized assets which could be setup to auto repay by the user him/her-self or someway setup by the protocol. One of the advantages I see if we can figure out a way to do this is that we could reduce the higher risk that´s associated with borrowing against Your assets slightly or significantly depending on the setup. Another question I wonder about is: What do You think of dynamic increasing staking rewards over time to incentivize long time holding?

#497

possible, but there are MUCH bigger issues at the moment pal. Treasury management, direction, certainty etc…

#498

I think that this merge would be beneficial for both parties. In this way we finally stop to talk about wonderland, that unfortunately has become a bad brand, and we help abracadabra to come back stronger with a wide treasury.
But before doing it we need to clean the actual situation about sifu, and daniele needs to step up and clarify his position.

#499

i rather the merge instead of closing wonderland project.

3 Likes
#500

Flagging comments to be hidden because you don’t like the content isn’t going to change the majority’s mind.

Good luck trying to silence the people.

#501

with MERGER comes NO REBASE aka NO 80000% APY!!! i say no to abraca

#502

you people are ware that with the merger there will be NO APY 80000% anymore!!

#503

This is the path forward.

#504

Great observation and suggestion there… Huge discount for wMemo-Spell swap that will be enough to cover the losses of early investors will be great.

However, imo I’d suggest that Dani and Sifu postpone this merger for now and work out the issues with Wonderland.

These are serious issues to consider too:

  1. If Wonderland merges with Abracadabra, can Spell be staked on Avax chain? Or is it only on Ethereum chain?

(Many people are going to leave if staking is on Ethereum only, the crazy fee is a big turn off.)

  1. What will be the APY for Spell?

  2. Why are people dumping on wMemo and what strategies will forestall this after the merger?

  3. How will the airdrop for wMemo holders be conducted after this merger?

  4. How will Spell be turned deflationary?

  5. What will be a reasonable wMemo/Spell swap rate, seeing the big losses incurred by investors?

People want to be able to sleep peacefully knowing they can trust you to not lose their funds.

#505

This is the best idea for the problem facing Wonderland. It solves the problem of whales dumping, and people selling off.

I believe we all want to see Wonderland grow, this is the solution I see now, not the merger.

#506

Hi, in the confusion of changes, I sent my wmemo to a time contract address which wasnt blocked, Dani replied on 21/01 on Twitter and said it was being looked into with the burn to refund cases “we wont let you dry ser” but so far, it has not been resolved yet…here is the transaction details,
txd hash - 0x2340c1c2a3c23ec883a6c5fd0c34981771e216b253102804dcff9d796cdae059

(sent to 0x096BBfB78311227b805c968b070a81D358c13379)… thank you.