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

3. [WIP] Wonderland Improvement Proposal
#328

Why not keep the idea of VC. And do one thing at a time?

  1. Stop the borrow of wmemo.
  2. Do a buyback at 40-50k

Later
3. . Make Wonderland a Node that means there is no buy or dump selling of the token as its locked up
4. Use Treasury to continue to get into new projects thus that will be the new rebase to holders

Start those steps first.
Merging with Spell is not a good thing. People invested in Wonderland due to APY and VC not for Spell.
If your loyal holders trasfer to Spell they have held with a 50% loss. Ontop its not what they asked to be into…smh. The only people winning is $Spell and the FROG NATION get pushed back into the well…smh.

2 Likes
#329

this merger addresses the first three issues. borrowing wmemo has already been disabled.

#330

What is the advantage to those holding Wmemo?

#331

EXCATLY!!! What is the benefits of wmemo holders?

#332

Vital addition. May Sifu and Dani analyse wallet dates and ensure equitable exchange for everyone who bought at various ATH prices accordingly.

#333

I hear you. It does not hurt to read through this thread again a few times in bites. The idea proposed is actually quite good if Dani & SiFu address wallet dates to accomodate ATH price points for early backers. It can simplify in a new way. We are in the VC and pivoting as a community. This is the game.

#334

Yeah, it seems that the ABRA holders will get half our revenue share, while we get lucky enough to be forced to realize a 80% loss.

#335

As a side investment yes but not to swap the whole project . No rush fixes and judgment. Stay the course and right this ship . Fix what needs to fixed and let’s work towards making the investors whole again and growing the project like we were told it would be grown . At least get us to even .

#336

This is it this is the way

#337

When will the official snapshot vote be completed? 3 more days?

I think there’s an overwhelming consensus of holding true to wonderland and not bailing our project we believed in for one we didn’t personally invest in.

#338

I ran away from ETH fees and landed on Avalanche and Fantom, no way for me to play with Spell on ETH

#339

Not in support of this

#340

The challenge with “fix what needs fixed” is that many/most won’t like it, which will cause more drama which would likely cause more damage (at least PR damage) to the project/experiment.

For example:

  • Rebases need to be stopped. Causes all kinds of confusion, adds to unrealistic expectations, and doesn’t increase the value of your position.
  • Buyback need to be stopped, period. People will continue to arbitrage and game the buyback system until there’s no wMEMO to buy back AND the Treasury is drained. The motto here has always been “no jail for frogs”, so if we assume that motto stands and won’t be changed, and no lock out time will be put in place, then killing buybacks is the best option as it lets the market determine the price. Assuming all the investments and profit sharing starts kicking off and doing well, price won’t really matter AND it’ll probably go up anyway as more folks will want a part of the profit sharing. BUT this will take time…like months or more, so no instant gratification.
2 Likes
#341

I still haven’t seen details on when this proposal is due to be voted on. There should be accountability in the crypto space for their names and reputations. Experiment or not, this was all handled terribly. You know any other 1billion dollar organizations that allow someone being asleep to cause such damage not once but twice?

#342

1 dont merger with abra
2 make wonderland like a node lock your wmemo
3 give dynamic rewards in mim from treasury profits like aave rewards

2 Likes
#343

So i believe it is time for wonderland to take ownership of its greatest asset which is the treasury. Farming as a service works especially in the present market condition. There is zero reason for a treasury of this size to lose money on buybacks - nor should is a merger to the benefit of wonderland. Usually the larger bank acquires the smaller bank.

We need to fully implement shared revenue.

Farm as a service which wonderland and Dani know well

Focus on restoring the intrinsic value of the token by offering this shared revenue

Stop additional treasury depleting activity until we have restored the value of the token Wmemo to at least pre 68k wmemo level

Focus 100% on a clear restoration of value strategy

Full transparency of funds (good start with FUNDS tab on the wonderland app)

Appoint team from overlapping timezones so that someone is always at the helm

Appoint marketibg and communications to counter-FUD strategies

Utilize price to phase out rebasing - example

At 50k wmemo apy = x
At 60k wmemo apy = x
At 70k wmemo apy = x
Use this model until apy = 50%

Let Dao vote determine all levels of apy. This will assure those who hold on the riskier end of the curve are always rewarded because right now people are only holding because they are down - that should never be the reason to hold a blue chip asset

Finally, stick to ONE clear and concise direction. Execute that plan and after that plan has been executed move to the next stage of the plan. No more zig zagging. Zig zagging doesnt create momentum it creates head winds. All of this communication of plans that go unexecuted become opportunistic fud.

It was great PR to execute buybacks, but not good PR when we still havent received air drops of assets the community was promised. Also not good PR to discuss a revenue share plan one day, then the next drop a merger plan on the community. Obviously bad communication strategy.

Top priority for this Dao and for Wonderland should be to restore the intrinsic value to the token asset.

4 Likes
#344

The big question is how much $SPELL for $wMEMO, and based on what criteria, if there is a criteria? What happens to the existing investments e.g. BSGG, they need to be paid out via Airdrops and the additional 400M latterly to Wonderland holders as well as all other prior investments, prior to the merger.

Like any merger, you can’t just agree to something until both parties know exactly how it will financially affect them and what the big picture means to them financially post merger.

Those who have $sSPELL are already comfortable with the ETH network and fees, those that don’t want to get involved with ETH, because of the costs, need to be able to stake on FTM or AVAX, this IMHO is a deal breaker. Frog’s come in all financial shapes and sizes. I’m assuming we all want to stake $SPELL for the rewards, as there’s not much point in just holding $SPELL, you’d be missing the point. I believe a proposal was made to pay out in a new token, kind of a special purpose vehicle, why wouldn’t you pay out in $MIM or have the option to compound on a DeFi platform via FTM, AVAX or ETH?

Just my ideas.

1 Like
#345

Let us vote. We all vote no obviously. We don’t want this. Stop allowing leveraging that is what killed it. Greedy!

2 Likes
#346

I’m currently down 84%…why should it be compulsory that I realize that loss?

This approach disregards the wonderland white paper’s claim that downward price action becomes irrelevant in the long term by effectively compelling people to sell before price irrelevancy becomes realistic. Despite falling prices, it was advertised that if we held long enough, we could make positive gains on our TIME/MEMO/wMEMO - I would hope that is still the case following a vote on this proposal, otherwise I feel lied to.

Wonderland
Wonderland1249×302 49.9 KB

I strongly oppose this proposal, but if I am misunderstanding the potential consequences of it, my apologies frogs - please clarify if it will cause people to realize losses.

1 Like
#347

Might there be a way to stake wMEMO to claim investment for all rev sharing abracadabra makes using wonderland fund in future? So if you were an investor you are given certain revenue share that other SPELL holders do not get (wormhole, sports betting, CFA).

I got into this for the VC element and want to DANI and SIFU to continue finding new opportunities for wonderland treasury.