I would agree if the exchange rate at least more than $85,000 per wMEMO.
Or why don’t wonderland buy out abracadabra?
2 Likes
Oh ok, how about $55,000 for buyers in December? I have also been buying since November. I think a realised loss of 50% might be accepted rather than 70%+ losses…
Also if we merge how will spell get paid since we are most of the ones getting liquidated? Let spell keep the liquidation fees reward wmemo holders the liquadated wmemo
I think you guys are taking on WAAYYYYY too much right now. You haven’t resolved this issue regarding the liquidations - meaning it’s still able to be triggered by bad actors. You’ve just invested in two different organizations with the money from the treasury and have yet to see returns. You (I believe) recently merged with SushiSwap (or own part of it). You are now going from $TIME to WMEMO as your standard token and that is not fully completed as yet while you’re proposing to go from WMEMO to sSPELL or SPELL (not sure which - see how confusing this is getting?). Most importantly, you made a unstated promise by creating TIME/WONDERLAND that all those who invested would receive high APYs as long as they held the token for a long time to come. What it now seems like you’re doing is tearing it all down and not making anyone feel good about holding onto $TIME (the original token) through all of this. Take your TIME…think this over. Address the immediate issues first - at least show that you can so that you can establish trust. Then, once the price is back up, consider moving on with your proposal. Right now this is just a mess…and you’re truly scaring everyone with the speed at which you’re going. It comes off as reckless and indifferent. What do you think some of these people are going to do if this is even slightly considered a fraudulent - yah, they’re going to take you to court, and then you’ve got another level of problems that will last a very very long-time. Take your TIME guys…don’t do the merger. Get everyone good first - you’re asking for big trouble if you don’t show respect to those who have been in this from the beginning of $TIME.
4 Likes
Just to sum up, they now clarified it would be fixed at 4.9 million SPELL per wMEMO.
I agree with the idea of merging. Sounds like a 1+1=3 scenario.
However, if this goes through, please think of us frogs, that are here since November or earlier just 3,3ing… All we did was hodling and trusting the rebase system to break even for us even while price declining massively.
A swap for a wMemo price for ~40k is simply no sufficient. We suffered a lot and need a way higher exchange rate to avoid realising massive losses. Would be a shame if we of all people are to pay for it.
2 Likes
It’s all about the echchange ratio from wMEMO to SPELL / there has to be an option for those who bought wMEMO at 100 000 $ and are locked with lose. What will be a exchange ratio ?
What about us little frogs who are priced out of the ethereum blockchain until after sharding gets released because gas fees are too high and they cant then move the spell from erc20 to avax? Can we have a choice of which chain to receive to?
2 Likes
Lets focus on making wonderland work
we invested in wonderland not Abracadabra.
I propose:
Cease buy backs immediately .
Heavily reduce current APY
Bring in a revenue share ASAP as proposed.
Burn all bought back and treasury WMEMO, TIME, MEMO ASAP.
Sort out comms often Sifu and Danny contradict each other - promise are made and not followed through.
If all else fails distribute the treasury to current holders and shut up shop.
- Go ahead with migration.
- Make changes to current system. that doesn’t involve Abracadabra.
- Distribute treasury to current Wmemo holders and close down wonderland
0 voters
1 Like
Very good question! The exchange rate should provide an ease of mind step towards SPELL
With the merger, it seems like we need to take the loss that most of the frogs are in.
This doesn’t benefit any of u in the short run or the long run.
I suggest also adding an exit strategy (As Dani suggested in his AMA) for those who do not want to participate
1 Like
Today, the price of $wmemo dropped hard again due to the management team.
I propose to close @Wonderland once and return all the money in the treasury to the investors (the refund rate should be based on how long and how much $memo the investors own).
The frogs who still want to follow this team after that can do so.
7 Likes
We should get rid of SIFU/Omar Dhahani as quick as possible…
Source: Michael Patryn – Amy Castor
“October 26, 2004 — The gig is up for 20-year-old Omar Dhanani. He is one of 28 people arrested in connection with Shadowcrew, an online bazaar for stolen credit and bank card numbers and identity information. These items were bought primarily with E-gold, a digital currency purportedly backed by real gold. Criminals were drawn to E-gold because it allowed them to transfer funds with little more than an email address…”
SPELL is available on Avalanche as well (Sushi); no need to move to Ethereum
hi , please tell me everyday price of wmemo is decreasing , if i have to change it to spell , you will exchange it on current price of wmemo on that time ?
I prefer wMEMO and SPELL should be kept separate. Sure Wonderland can invest in SPELL but I prefer for it to be separate and wonderland can continue to also buy into other different projects.
1 Like
Wow…so much to say about this.
I bought time mainly for the APY and because of faith in Danni and his projects.
When I bought into time the promise was:
High APY
In the time wonderland docs “Why does the price of TIME become irrelevant in long term?” It basically states that the price can drop almost to 0 and you will still make money in the long run because of the APY.
This has happened and now the proposal is that we scrap wonderland and get spell instead. So we won’t be able to make our loses back because the project won’t exist anymore, we need “time” in order to be able to let that play out.
After the drop we were also promised airdrops present and future projects and share of profits.
So to summarize with time I get:
Ridiculous APY
Airdrops future projects
Share of profits
Voting power …
If I vote to get spell instead I get none of this.
I can only speak for myself but it seems that most people are in the same boat. I am 90% down on my investment.
If and when wmemo started going up again I would get back into profit fairly quickly because of the APY…
With spell it would have to do a 7x for me to just break even.
A lot of promises were made and I could have just bought spell if I wanted to buy spell.
I don’t see how giving us spell is in any way equitable to what we get and were promised from future revenue from time memo wmemo.
I don’t see anything but loses by merging with spell but I could be wrong and would love to hear what I am missing If I am wrong.
Also just before you announced this you were talking about all the great protects bought with the treasury and the benefits we would get from that. All of that would be lost.
It seems that you built a dao and treasury based on promises to the investors and now you want to take that elsewhere and dissolve the dao before the investors get a chance to make a profit. Don’t take this the wrong way it’s just what it seems like from the outside I’m not saying that is what is happening but it sure seems like it.
Please fill me in on what I’m missing here if this is actually beneficial.
Just my 2 cents.
2 Likes
this proposal is idiotic
Is there concern that the SPELL token could get delisted from exchanges like Coinbase after a merger with Wonderland? Specifically thinking that they may need to reevaluate it for being classified as a security by the SEC.