The Sifu vote is coming close to an end, currently the vote stands at 86% to remove Sifu. The team feels strongly that this is the best choice for the protocol and it needs to happen as a first step to move forward with Wonderland.
Despite this, we would like to already discuss points of action for once the vote has ended.
From the team perspective, these points of action are relatively clear.
A vote needs to be put in place whether to wind down Wonderland or not. What does this mean?
Winding down will mean giving every wMEMO holder back the funds from the treasury that they are entitled to and declare the OHM Fork experiment closed. We strongly believe that this would be the cleanest way of moving forward.
If the community does not want this and votes against this proposal, there is the option of handing over the project to the community.
This would definitely be a difficult step as it will be difficult to clearly identify an entity to give the control of the treasury to.
Due to this we think that if the proposal is voted against, and no counter proposal within 5 days is made by the community with relevant people who are willing to take over the multisig and willing to take on this challenge, we will still unwind the treasury. We don’t want anything to happen to users’ funds, and we would not feel confident to delegate the whole treasury to a non-structured replacement.
A snapshot vote will start exactly 1 hour after the Sifu proposal has finished. It will last for 48 hours, once these are complete we will either provide the UI for claiming, or initiate the 5 days period on which a new proposal will need to be submitted to the team. This will depend on the outcome of the vote, but we are already getting ready the claiming UI, as we strongly believe it is the best solution.
If the vote has passed, a UI will be put up within 4 days where every user will be able to connect their wallet on the Avalanche network.
Users will then be able to claim each of the assets that were in the treasury in relation to the amount of wMEMO he/she has. As an example, you will send your wMEMO to the contract, and receive the part of the treasury you are owed, with the different tokens that make it up( X amount of AVAX, X amount of MIM etc etc.)
Edit: Treasury will be paid back at backing price, and wMEMO held in the treasury is not a part of the distribution.
If you do not own wMEMO but hold MEMO or TIME, then you can wrap them here.
If you own wMEMO on other chains, you can easily bridge them towards AVAX here.
Once the dissolution vote is passed, we will be posting a how-to that will explain how to claim your share of treasury, to make sure that everyone feels completely comfortable in doing so.
The Snapshot link can be found here. Voting will start once the old vote is finished.