high APY and rebases were just an illusion
It’s not gonna to happen, it’s impossible, that everybody will stake.
Yes, that’s true.
It was an illusion, but it was great way for them to steal our money.
Could we see a breakdown of potential revenue per token/holder for the new business model please? I see there are various streams of earnings… some with shorter term, some with longer term returns? Will the VC investments be continued? Overall, when and how much in total earnings is the project expected to make and how/when will it trickle down to token holders?
Yeah, I get it… just saying that is probably the idea…
I would prefer to see a Wonderland with a team that is fully focused on executing its original stated strategy of investing. Fix the mechanisms that create the obvious liability of people attacking the peg to take advantage of having too much wMemo leverage in play. Use the 800m to deploy into a combination of yield farming and early stage tokens.
My issues:
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What’s the exchange price going to be? Sifu said probably 40k valuation for wMemo, which is completely unacceptable. It’s too low for the treasury and all the great deals that you have said are in the pipeline and it is unfair to allow Spell owners to buy out Wonderland at a weakened price. That helps Spell more than it helps Wonderland.
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This proposal doesn’t offer enough business/operational detail to make an informed decision. An AMA is not sufficient supplemental information. Who is the team? What is the mandate for the treasury? What are the specific synergies and their economic value? Explain Spell and its benefits to wMemo in more details. etc. Before someone tells me DYOR, I did my research on Wonderland which is what interested me and not Abracadabra. This is a proposal to merge, so present me the information.
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Wrong timing. Selling after a 50% crash and amidst deep concern amongst Wonderland holders is not the time to make an offer. It’s the weakest possible moment and there is also a fundamental problem in that it is impossible for the same person to equally represent both parties in a transaction. Who represents the interests of Spell in negotiating the swap price? Who represents the interests of wMemo? Do the representatives have a financial interest? This is not a personal attack on Sifu or Dani. it’s just that they need the highest possible trust and transparency to make people believe it is fair and this is the hardest timing to be able to achieve that goal, which hurts the protocol.
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There is so many unknowns about this. I think a lot more clarity is needed on effects that this will have on WMEMO holders. I see the price of time and WMEMO keeps dropping. for example: current WMEMO Price $27,938.33 at time of this down from the $50,000 backing price two days ago.
What is going on?!? It could be understood that the price was allowed to be lowered on purpose to allow this sale at a discount now. In Finance that could be construed as insider trading and price fixing if the above is true.
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htis is an assumption . none of there buybacks helped even from the start. Its been a mind game sifu vs side steppers when in reality it was a liquidation game all along . the most effected is the real frog nation supporters who are 90% down 3,3.
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Nope. So much nope. I invested in wmemo because I believed in the project. I’m currently down around 80% like many others. That’s ok because I was planning on holding for at least a year. Now the token WON’T EVEN EXIST anymore and it’s been less than 6 months. If I wanted SPELL, I would’ve invested in it. WE own the Treasury and now it will be diluted with all the other SPELL holders? It was OUR hard earned money that built it! Not theirs.
A VOTE YES IS A VOTE TO DISSOLVE WONDERLAND!
It’s gonna be a hard no from me.
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Most of us paid a premium to help build our treasury. Why should spell holders gain access to it? If this goes through, they should be paying above backing price. This benefits spell way more than Wmemo
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So know you are going to kill wMemo swapping these for spell. So you let us to buy al 100K in order to liquidate with 20K spell? Really?? This is your solution? No Way
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Has wonderland just become a treasury for an idea farm at the expense of bleeding people dry. Why did they not lock in big stake values for some length of time. Feel robbed
I can see that it could be powerful to join forces! If everyone could agree on the basic idea, perhaps the details and challenges of such a merger could be worked out? We’ve not seen all the specifics yet, so maybe wait until we hear more and surely there is room for negotiation?
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Well maybe if you read back up, a lot of the comments people are asking for more clarity on this? so the wording “chill” seems like poor choice of wording?
Ive seen it mentioned before that wonderland farming strategies on average yield 1m a day. Spell revenue is 2m a week. Our treasury essentially is bringing 3.5x more income and needs to be represented that way in this deal??
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I think this is awesome. There will need to be a detailed FAQ posted in Announcements on Discord and posted on Twitter to help avoid confusion and prevent further selling. Some possible questions to answer:
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Does the CDP migration mean that if you have an open wMEMO position on Abracadabra, you do not need to close your position because your CDP will migrate to a SPELL CDP? If so, how will liquidation prices be attributed?
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What is meant by “closing your wMEMO CDP will “return” SPELL at the determined migration exchange rate”? Does this mean closing your wMEMO position will automatically convert your wMEMO to SPELL at a predetermined rate?
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Are there additional benefits to swapping directly from wMEMO to sSPELL instead of SPELL?
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Will wMEMO/MIM liquidity fully migrate to SPELL/MIM or sSPELL/MIM on SushiSwap?
Thank you to all the devs and contributors. There are tens of thousands of dedicated participants and each one has a different level of experience and understanding. It can’t be easy to manage PR while tacking some of the extremely technical challenges you’ve overcome and that lie ahead. It is clear that Dani, Sifu and the rest of the team are dedicated to transparency, trust, inclusion and growth. I understand we all want the price to move in one direction, but don’t give up on a potentially life changing opportunity because of growing pains. We are moving in the right direction.
WAGMI
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Yet another promise of good things to come, but our trust shrinks with our balances. You betrayed the people who made you and that will not be forgotten. Investing in anything related to these people looks like financial suicide. Sometimes fud is just fact.
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So let me get this straight . you want to aquire wonderland into abracadabra for its treasury . while abusing the treasury to bail out the worst types . Imagine if we agree to wonderland + abracadabra . we may speak all the positives bt what respect would we have then. our treasury would be drained for practically abracadabra. If this was a good ideaq it would have occured before this drop . we know this is a subtle way of rugging wonderland into abracadabra. reason being when they have a fallout we will bail them out also .
We the frogs are suffering and they dont even use the backing sufficiently while being the reason for the cascade due to there liquidation points . lets be real Abracadabra is there favorite imo and he would much rather use wonderland treasury to save that then anything els
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