Exactly that, I bought in at 7500 myself and are still hugely in the red because of this stupid leverage-cascades.
If the exchange rate is priced at the ATH we can talk about it … at least the long time holders will then be about even.
Also if it will be Spell on the ETH-chain and there will be no Spell on Avalanche or another chain then pls no … the gas fees alone will kill this project.
I’m trying to understand how this benefits Wonderland. We already have the treasury and can do investments on our own, why do we need to merge? Won’t this just make us have to split the revenue from investments with even more people?
I understand that both abra and wonderland benefits from each other, but why not just keep it as collaborations? No need for a full merge.
Currently, I feel like our big treasury is what makes us stand out from other protocols and what makes us the best. I don’t want to have to share it with more people than necessary. Even with the current attacks on the wmemo price I feel like wonderland can still manage to get back up by it self.
Maybe I’m missing something, but I don’t really see the benefit from a merge. For me to vote yes on the merge I would have to be able to swap to spell/sspell for a price of wmemo way over the backing price. Otherwise, they just buy us at a discount and I lose money.
This is what I think, but I know Dani and Sifu have our best interest in mind, so maybe I’m missing something.
If I wanted Spell I would have bought Spell! This is about as decentralized as any other large business takeover.
this is total bullshit scam. first they steal 170m from treasury over the last 2 days to get wmemo price down to rape us before the merger that nobody asked for. what a fucking scam shit show.
I like where this is going interesting 
Totally in agreement. But I like the idea in principle and see the potential. One question: is Spell inflationary?
Surely this is not good for time holders? As I write this the price of wMEMO is ~$31,000 but the backing value is much higher (~$41,700), meaning that if abracadabra was to purchase our wMEMO right now we would essentially be selling our wMEMO at a significant discount (to the backing price, or value of assets each wMEMO represents)? Am I missing something?
I’m up for this as long as we don’t sell our bags at the very bottom. It needs to be at the backing price AT LEAST.
The treasury had just dipped hard to 800 Million a few hours ago, now it just dipped to under 700 million? What is actually happening here?
I’m pretty confused. At first we just needed to TIME → MEMO.
If you wanted to place bigger bets MEMO → wMEMO…
now wMEMO → SPELL?
The idea seems to be good, however I’m still just with MEMO. What happens to my positions, rebases, and the main TIME currency?
First thoughts, interesting and I can see the synergies. Above all else I like the constant innovation and thought that is going into this, as opposed to going down with the ship mentality FUD that spreads around CT. Closer collaboration could enhance the opportunities to use both the treasury and team more than separate projects could do on their own.
I am 6 figures invested into Wonderland starting in December through January, so I am at least 80% down on my principal. It hurts. Others in the same position probably want the same thing I do, which is a good path forward to recoup our investment and ultimately make profits. Lets not kid anyone, we are not charities here, we are investors who want a return and want to be part of something special with the Frog Nation.
Daniele/Sifu - If you feel this is the best approach then you have my vote and confidence.
I would like to see:
Thank you
Someone explain to me how is this not a legal way for devs to acquire the entire wonderland treasury.
They are buying stable coins and other valuable assets collected from us for a shitcoin that has no use
this is some serious bullshit
I like your idea ,ser
So how much Spell would we get? Do we get a premium or is just the current dollar value we have?
Sifu said the following in discord:
I’m still working on the exact Dao % due to buybacks and plans to burn, but it looks like this merger would value wMEMO at $40k.
Hell no. If anything, Abracadabra shouldn’t even be accessible to Wonderland users. This is part of the reason Wonderland is already the mess it is. Throw on top of that the talk about reimbursing those who were too irresponsible to deleverage yesterday and the whole thing is a recipe for disaster.
Well that doesn’t sound enticing
Reading some more. There are the people who are now toxic and salty to all Frog Nation projects. They are making demands like being made whole when they invested at $7000. And of course the stories of life savings drained, orphanges that will not be opened, etc. This group will not be happy.
The things that would make me lose faith are:
Please call out the failues and successes of each project and why this merger will help complement those:
Anyway, communication is key. This is a tough time and addressing failures/mistakes headon is appreciated. You have detractors but you can at least stop making it worse by picking fights, and focus on the amazing accomplishments/strengths of Abracadabra and Wonderland.
Hi Frog Nation,
This looks like an escape mechanism after we see it first hand that OHM model is really unsustainable.
It’s an OKAY proposal rather than seeing wMEMO/TIME bleed to death. BUT I have an alternative proposal
ALTERNATIVE PROPOSAL:
Have you considered the DeFi 3.0 model? Imposing tax on buys and sells and redistribute them to token holders, Treasury (used for farming), liquidity pool and burn address. This can solve the inflationary problem and provide deflationary measure (burning). Not only that, given the $800 million Treasury and high volume trade, Wonderland can pave the way to a new industry leading other DeFi 3.0 projects like ReFi and ACYC. SPELL can still tap the huge Treasury of Wonderland with DeFi 3.0 model. Please consider this.
Few points to consider about the merger:
It is metioned that wMEMO token represents ownership in the Wonderland Treasury. However, converting wMEMO to SPELL leads to dilution because there are more SPELL holders that will share from Wonderland’s Treasury.
SOLUTION: Provide a significant discount in wMEMO-SPELL conversion to account for that dilution.
wMEMO holders are supposed to receive Betswap airdrop. How will that be conducted now that the merge is in the offing?
Regards,
Ty