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

3. [WIP] Wonderland Improvement Proposal
#205

NOOOooOOOO

Why? The current proposal mentions that acquiring Wonderland is only 10% above its treasury value (at time of proposal but wMemo and Spell pricing could change!!)

So Why Wonderland deal is NO GOOD?

  1. Wonderland has made investments into BetSwap and Gaming which payoffs are BIG

  2. 10% premium is WAY TOO LITTLE for most frogs who are totally under water

  3. We destroying TIME, then MEMO and now we say let’s get rid of wMEMO. What happened to this whole concept of cross chain initiatives

  4. We were told about potential earning of $2000/month/wMemo within a year due to farming and so how does this represent 10% premium to its treasury buyout?? Should make at least 50% premium with payouts for those who bought near $150K per wMemo

  5. Combine DEV TEAM now makes up a huge portion and no doubt owns a bigger stake of the whole initiative. I heard it was like 30% compared to 5% in Wonderland.

  6. Any Merger should have an outlook as to WHY its best, which includes potential forecasts of yields.!!

  7. We were told WONDERLAND EARNS $1M per Day, or $365M per year. With treasury of $700M, that’s a 50% ROI. Is this correct? So SPELL pays only 10% to earn 50% on Yields??? We are getting short changed!!

  8. This merger would have been brainstormed a long time ago - but why such a rush now? Because Wonderland got dumped on?? Also we used to have $800+M in Treasury? Why is it now $700M or so

4 Likes
#206

If they really want to fix Wonderland, this proposal is not the way IMO. Easy way to stabilize Wonderland:

  • Eliminate leverage on wMEMO (or at least limit it to 25%)
  • Forget about backing price or hide it altogether as it only encourages scalping and drains the treasury. Let people trade it more speculatively.
  • Focus on revenue streams and investments in new projects to grow treasury
  • Move to rev share like… yesterday.
6 Likes
#207

fcbr
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and we dont have much time

#208

My biggest annoyance in crypto is when people use the term rug pull and obviously don’t know what it means.

1 Like
#209

I wouldn’t even consider any % team allocation that isn’t tied to performance metrics at this stage. They currently earn a 5% team allocation on Wonderland and have underperformed relative to the top 100 on Coingecko. The mistakes, failures in communication and black swans were often visible to many in the community and occasionally could have been prevented with even the most basic planning. This is absolutely not what I would have expected from a seasoned hedge fund manager Sifu is alleged to be.

IMO - give them all 200k USD/year and a performance bonus proportional to the profitability of the project for holders, redeemable at the end of each quarter. Anything more than that is an overpayment given Wonderlands track record over the last 5 months.

4 Likes
#210

Hello
I believe in a proposal to clean up the market and burn 50% of the tokens in circulation. This will stop the price drop of the Time, Memo and Wmemo tokens and get back on a good footing by readjusting rewards and staking . we need to restore investor confidence or nothing is possible ,it’s not too late

1 Like
#211

Please NOOO, noo , nnoo .NOO.
cant you just have a plan and stick to it, there is officially no structure, no planing, you wake up one day have an idea then implement it the next day, instead on concentrating on fixing the problem !!
the problem is 1 liquidations, stop allowing people to leverage.

problem 2 is buy backs- telegraphing orders of roughly where your going to buy wMEMO, and where the lquidation prices are leaves you subject to getting taken advantage off buy people who can move the market

if people cant see the value of receiving 1bil worth of revenues shares from 400mil market cap project, they will when you actually implement it !!

just fix the problems and work on improving what is here. the price will fix its self

4 Likes
#213

spell has 30% team allocation, we are just giving away our treasury

4 Likes
#214

No.

This proposal comes forward just after a huge price dump. It is the wrong time to consider a merger.

People should have the ability to redeem their wMEMO for cash.

Stop wasting money on buy backs and allow leverage to be flushed out of the market. Leveraged people have cost normal stakers a lot of money with incentives do dump wMEMO to start a selling cascade.

I don’t think the Wonderland team are competent to run a VC DAO.

Combining the Wonderland treasury with Abra could create a huge wealth generating project which could multiply our investment. Wonderland on it’s own is a questionable investment.

But there is no way the devs on Spell should have 30% of the tokens. That has to be divided by 4.

5 Likes
#215

Someone on the Abra discord said that the Wonderland treasury is full of rubbish, including various TIME and wMEMO LPs.

How much is it really worth?

1 Like
#216

Because its not working! Wonderland high apy was always an experiment, this thing will continue to melt down. So we can move to something that isnt going to get recked by whales because spell is on many well known exchanges. Not easy to manipulate

#217

Not sure about this.

  1. WMEMO risked everything. Spell holders risked nothing and get all benefits;
  2. Premium will need to be much higher than $40k per WMEMO;
  3. sSpell would need to be on a cheaper chain (AVAX) to avoid Eth fees;
  4. Spell and sSpell would need to be proven as deflationary vs. inflationary. I don’t want a coin that explodes circulation
1 Like
#218

The system needs to stay alive or nobody will get back to even or profit.

#219

What if you would make that only 10 -20% of holder`s wMEMO can be sold after each rebase?

1 Like
#220

How will the wMemo be exchanged towards SPELL, 1 on 1.

Or as i get it, the wMemo will be divided through Wonderland Treasury (not current marketcap 1 on 1), and your percentage of ownership of this will accordingly be swapped into SPELL?

Further the idea is good, i’m definitely voting for it, but the timing is horrible indeed.

#221

I’m excited. Let’s do it!

#222

For me there is totally not clear, on what realtion the swap is made. During the last 3 weeks I lost about 70% of my backings. So is this the next step to be robbed my part of the treasury?
Remember:The last suggestion on Twitter from Daniel was to take the treasury and invest in other startups… also such a suggestion, where we will loose all money… and have no rights.
The suggestion is necessary, if there are capacity problems and / or the bigger treasury is leading to a more stable development.
In my opinion the swap relation should lead to the status of our investments, where the liquidations of the whales are ignored… so back to a Memo-price of around 330 AVAX.
And when then in a next step the APR would be reduced to around 0,6% per day the inflation of tokens would be reduced and therefore the liquidation might turn down.
Also it‘s necessary to have a mechanism installed, where leaving the treasury within b.e. 30 days will lead to a reduction of APR for the last 30 days…
That would stabilize the things too!

@Hitman Daniel, I don‘t know you personel, but for me it‘s now time to show that you are working on a long term strategy and not only on a short term by picking others money.
The 30% dev portion should be enough to get rich!
Show us, that we investors were working with the right „horse“…

Thanks therefore.

so as final: we need more details on the swap rate!

1 Like
#223

Yet again, long term holders have been punished for never selling, and those that have understood it’s not sensible to borrow on such a risky investment have seen their money plummet through multiple cascades by people getting liquidated, because it seems a large proportion of people do not learn their lessons after the first cascade and we now all suffer as a result. The plummeting of WL’s price goes way beyond ‘the whole market is down’ that keeps getting parroted.

It now seems that this proposal is going to be the only way to stop falling even further and I feel like I do not have much choice but to vote for the proposal now. But the rumoured merger price of $40k per wmemo is quite sickening, particularly when the Abracadabra team have a 30% share and long term holders who purchased over $100k per wmemo are now going to have our loss realised in a merger.

I urge the team to seriously look at the merger price and make sure long term holders who never leveraged are properly looked after in this. Trust needs to be re-built and it needs to start here.

Thank you.

6 Likes
#224

No for God’s sake…people had lot of faith in you and in this project…dont kill wonderland!!

So…First it was TIME and MEMO, then wMEMO and now SPELL which not only undermines everything we have tried to achieve, it will dilute the percentage of the pot each person owns by merging it with existing pool of holders of SPELL.

This is not the way to deal with it. It feels like a way to deflect attention to something new rather than dealing with the problems.

Trust is what Wonderland is quickly losing and it will fail to attract more investors. Trust is what we need and the only way to retain trust is to keep promises.

KEEP THE PROMISE OF BUYBACKS AND MAINTAINING THE PRICE OF 50k USD PER wMEMO.

Once we see you keep your word we will trust you with new ventures. There have been way too many broken promises and way too much deflection, misinformation and misdirection.

It is time to focus on Wonderland. Forget SPELL

3 Likes
#225

Not sure about my vote but I know mergers are carefully created with lotsa due diligence!
Major stakeholders need to be revealed and need to see who gets what exactly.
What is the current stake of leadership, what will it be after merger. Why?
What is the breakdown of whales vs retail holders? Is it a fair vote even?
Lots more questions to be added, so others please and lets get more info.