I don’t see how the market can handle the supply shock of 100% of existing spell being minted, it’s a little confusing to me… I would think the protocols can only merge at the same rate that farming incentives were initially planned to be released at?
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
4 if you lock your memo in treasury you give devs fund to invest
5 if you take mims with dynamic rewards wmemo dont lose value
6 small portion from wmemo stay in sirculation and tha price push up
7 all frogs make revanue with a stable like mim and no one need to dump his wmemo for profit
8 whales its imposible to dump coin and make fud
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Let me know when they post more details on the revenue share and the impact of the decision one way or another. I think a lot of people will make up their minds once they see the numbers and the risks of both.
Voting before this information would be a mistake.
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In line with my first thoughts. I don’t really understand what the merger is so desperate to go ahead. Stop rebases and emissions and just reward investors with the fruits of the yield farming and investors. Simples.
Unless there is something amaze with the merger, but I got into Wonderland for the reasons you make and above. I was quite excited about it
you should be more gentle when you don’t know what you’re talking about.
wMemo is just wrapped memo which is better for tax calculation as value goes up instead of quantity increasing - but they are directly correlated… it was a cool innovation which it looks like Olympus then copied with gOHM. And Memo is basically just staked TIME. So they are all the same thing showing only a difference in whether staked and wrapped.
Here is the thing we are not getting a fair value deal! the Abra side has basically said we only have so much spell so that’s what you guys get because that’s all we have to give. They see wonderland demoralized and beat up with fud. They want us to roll over while they take the money WE invested into the treasury. VOTE NO! THE AMA DANIELE SAID VOTE BY USERS NOT BAG! WE NEED TO RALLY, STOP REBASE, AND STOP BUYBACK. THIS WAY WE FIND THE FLOOR THEN REBUILD! GIVE THE INVESTMENTS FROM OUR TREASURY TIME! HOLD THE LINE FROGS!!
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I would agree with the assessment of Neutronium. Merging or collaborating with Abracadabra does come with benefits to the overall ecosystem. Nonetheless there are important issues that need to be adressed:
- Education: The vision I understood behind Wonderland is to bring the financial tools and benefits in DeFi to everyone. Looking around Discord there are mainly member fairly new to DeFi or Crypto. So education has to be a major goal of Wonderland to bring Crypto and DeFi into the minds of a broad basis of people. In addition the concept behind Wonderland is complex in nature and therefore takes time and effort to wrap ones head around. It needs effort to make this easily understandable to teach people. The Frog Nation Discord is a good start and has already some Information for starters but it needs to be expanded upon.
-Community Management: Information and Announcements are not happening in time to address the concerns floating around in Discord or other channels. That creates a lot of bad mood and triggers sells to puts more pressure on the price. Establish a community manager position who is closely aligned with Daniele, Developers and Sifu as treasury Manager and be the link between the community and the Wonderland Team. Work on clear communications to address topics upfront. Only this way we can create trust and understanding in the community and thus build the basis of solid and long term investors to also reduce FUD and panic sells. As Wonderland started as an experiment and therefore adapts and changes at a fast pace this also helps people to trust what is going on and investors behind the decisions without selling.
-Media choice: It is difficult for people to follow up on everything. Information is spread across a lot of mediums e.g. announcements in discord, AMA’s in Twitter under Daniele’s account. People will miss out on updates and information is not spread effectively. Use discord as the home for the community. Do AMA’s or regular updates on discord, record session put them to youtube and post them in discord. Use other media like twitter, Telegram only to post the announcements and link to discord. This way informations are not all over the place anymore and communication with the community more efficient and effective.
- Stregenthen Wonderland before pursuing any merges: With the current market conditions Wonderland would act from a position of weakness which will not result in a good deal for the current holders. In addition we would only bring the current problems into the merge. No matter what happens to the Wonderland price the Treasury can bring us through this decreasing crypto market. It needs time for the investments done to generate more revenue and thus increasing the rewards for Wonderland holders. This in line with the above measures has the potential to build up and upon a solid community of investors, attract new investors by creating trust. This will also reduce price volatility and hopefully driving the price up. Then once this has been accomplished we can revisit our options for future merges and act out of a position of strength which benefits all the longterm holders of Wonderland. We just need to work on these topics and Wonderland can be turned into something strong.
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Why not aplying a lock system ? if bots and whales are mess up things , why din’t we make wonderland a project focused on the small people the average people that dont mind waiting to change something in their lifes . lock the token … more time = more APY . lock 3 months up . add high taxes ( sell) for people that dont want to lock their token ( that may prevent whales ) , its easier to think in a solution instead of put the issue under a carpet .
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How I can vote no?
Create revenue share for wmemo holders.
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Gm, What happened to Wonderland? it is no longer accessible.
This was a comprehensive site showing the fund allocation of the treasury.
I came to the site after someone pointed out the figure on the wonderland app didn’t reflect the current treasury balance.
Last time i checked it looked like the treasury balance was back in the 900M range and poof site gone!
Why is it no longer available?
The current treasury balance on the wonderland app cant be trusted.
‘fund.wonderland.money/#/dashboard’
I have mixed feelings.
Pros I see -
more established project on Abracadabra
potential team coordination and perhaps more oversight and shared responsibility
cross chain utility
potential growth for spell holders and memo holders who convert
Cons I see -
Realized losses. (I was hoping against hope that eventually the losses would reverse direction. I DCA’d all the way down, never selling and never borrowing.)
Daniele seems to be a target of some bad actors and they seem super content to take anyone who invests in his projects down along with him. (I think someone should curse the attackers bloodline or something. Like wtf.)
Honestly I would like to see Sushi/Abra/Wonderland/Popsicle all as one defi hub to meet our needs in one convenient location, not sure how possible that would be though. I want to see clear communication, education, and progress on all these projects, regardless. I think there is so much potential and the future is developing before our eyes. I would hate to see good ideas destroyed so soon before they are realized.
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As a long term investor of Wonderland I am feeling rather conflicted about this proposal.
I have no idea if this is a good idea because I am not really into Abra and haven’t been following its doings.
But, looking at the Wonderland discord there is a lot of fud and frustration going on, understandably so.
Some interesting points of discussion I saw on the Wonderland discord:
“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.” Someone posted this earlier and I couldn’t agree more. Not sure who but thank you!”
-Kushnlean
“I’m so confused lol, 2 days ago we were farming 1million a day, investing in startups that will grow the treasury later, and getting revenue share. now people are telling us that our whole thing is garbage and we’re being “saved” by the merger. so some people get liquidated, lets disable borrowing and move on with the plan… why is the whole idea just dead now”
-jkiz
And some suggestions for fixes:
“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”
-kapone
“1) permanently disable wMEMO leverage on abra
2) Buyback and burns should be random and not straight after a selloff. This would make is much more difficult for whale bots to manipulate the market
3) Possibly introduce a sell tax so that whales get rekt trying to manipulate the price
3) Switch to revenue share model ASAP”
-Maracuya
This isn’t an easy fix from any side I think. I have no idea if its true the Abra is only making 140k per week, if it is then it feels like Dani and Sifu (if this is their idea) are trying to kill two birds with one stone; save the image of Wonderland, save Abra and make it more profitable, and by having them merged have less to manage because then they will be one project.
Wonderland is hurting a lot right now, I am not sure if the suggestions mentioned above can help it recover to ATH if the vote is in favor of Wonderland remaining as its own entity. But, I think stopping borrowing and thus preventing liquidations is the first step. This would also remove the need for buybacks, as this isn’t a fix to the liquidations anyway, its just a false sense of security while the treasury is wasting money. Idk about turning wMEMO into a node, but at least a lock up period could be useful, because why wouldn’t you lock up for a long time if you didn’t believe in the project? Call me a hopeful idiot or don’t but I bought near the ATH in Nov and am still holding.
It does seem like a strange change in narrative and direction about what I’ve been hearing relating to Wonderland - all the plans to be a VC, earning dividends from the treasury investments and moving away from the rebases, talk of having TIME or wMEMO listed on centralized exchanges etc. Granted, it makes it easier to mange, easier to understand to the uninitiated tadpoles looking to jump into the frog nation, but, it does feel like devs want to avoid the task of fixing Wonderland itself.
IF this was the intention from the beginning - that is to unify the different protocols under the frog nation banner to make it easier for everyone to manage and understand, I missed the announcement about that.
Either way, I am willing to see how this plays out whichever way it goes - no point in selling now at a 90% loss amirite frogs?
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What is this, a fake address? That’s not where you go…
Not anymore. it was a great dashboard b4 you could see all the allocations and wallets. even the BSGG tokens were in there.
That was never the case. You are not in the right location.
https://app.wonderland.money/#/dashboard
Nope, I was in the right place, just a few knew about it 
But it is actually there… that’s why I corrected myself…
great find! thanks so much Quarantine
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