[WIP #4] - Wind down Wonderland, and give the treasury back to its holders

3. [WIP] Wonderland Improvement Proposal
#208

With a potential entire wind-down is there potential for those people who are ‘last to the exit’ having to sell their AVAX/MIM etc. at a discount because everyone else has dumped before them.

Yesterday I voted to liquidate the treasury, but since I’ve calmed down and can see a future in Wonderland if it continues to acquire/work with various projects that have huge potential. As a result if we were to continue forward revenue share needs to start and pretty quickly.

I feel like this should be a snapshot too; it’s plain to see than in the midst of the chaos and even before that, whales were dumping and then buying back in the fear. They shouldn’t be rewarded for that. The HODL’ers who have been in and simply held since day 1 are the first people who should be allowed to get out. We’re the most down and yet we showed the most loyalty to the protocol. Potentially from snapshot of either the BSGG snapshot as that was already taken, a snapshot just before the Sifu news was released or a snapshot just before the absolute bottom. The snapshot should be taken from one of these options to allow, as I say, those who didn’t look to destroy the protocol should be able to get out first at a better rate than those who profited by damaging the protocol.

Also, those people who were liquidated should NOT be refunded, at least not from the treasury. Dani is of course free to do what he wants with his own funds, but I’d prefer him to help out the HODLers. Everyone knows the risks of leverage. If their trades came in good they wouldn’t be sharing their wealth, so we shouldn’t be refunding them.

#209

@WonderlandTeam what if you’re staking in Pendle? How can we prove our wMEMO to you if this proposal goes through?

#210

So you want to be compensated for investing and the value going down, but you don’t want the guy that got robed to get anything? just because you have your tokens

#211

I like it!
my only concern with it is:
will we find someone/team willing to take over this task “for free” (until we all get “paid back”? it can take a long time as the damage caused is deep).

Other than that, YES we should keep wonderland alive!

1 Like
#212

GIVE US MORE DETAILS!

This explanation is too vague and not clear.
How does the claim exactly work?

Whales can just buy WMEMO now and then drain the treasury?

Do you solve this with a snapshot of a certain date where people held wmemo?
What is the deal here?

The price of WMEMO is already pumping because people are speculating but I guess that’s what you guys intended

2 Likes
#213

This post was flagged by the community and is temporarily hidden.

8 Likes
#214

I admire your optimism, but your including Dani as CFO and he clearly wants out. You’ve outlined a management team structure but no one to fill the roles. Everyone that’s saying we should continue wants other people to do the work, and in your proposal, for free, until we all get our money back. You’re going to get what you pay for in my experience.

Who in their right mind would want to take over this project for free?

#215

I think a snapshot needs to be taken from the inception of time to right before everybody figured out about the Sifu scandal, the users that held that entire time get reimbursed at their ATH. If that means the variance comes out of Dani’s pocket, so be it. For the rest of the people, who day trade wMEMO, over-leverage, and didn’t hold the entire time, you knew the game you were playing. You can have the option to have the protocol buyback at the backing price per the proposal.

I really think all this preaching from Dani about “frogs protec frogs” is a nice theory, but if it was true, then this would be the way to go. So far the only frogs I see Dani trying to protec is the overwhelming majority of “frogs” which are day traders and people that overleverage so Dani avoids a PR shit storm.

I think Dani is a nice guy, and has good intentions, but I see right through the whimsical charades, and I know deep down inside, this was never about financial freedom, this was never about the frog nation, this was about money pimp, and the protocal made lots of money, and the investors got rekd and drowned in the lack of attention and focus from Dani.

2 Likes
#216

LET’S KEEP WONDERLAND ALIVE!
This project has legs to go!

6 Likes
#217

I understand the frustration that you got liquidated I’m guessing at well below the backing price, but that’s not a case of you bring robbed. That’s a case of the protocol not working as we all expected it to at that point. None of us knew that the buy-backs were manual and needed Sifu to ‘be awake’ which sounds a bit ridiculous.
That said, leverage always comes with its risks, but I can absolutely understand why you feel aggrieved at the price I guess you were liquidated at.

2 Likes
#218

What about those of us who have held since october on hotbit? Can I do this snapshot of transaction history? I’ve no idea how it works

#219

Snapshot vote, not snapshot of holdings. Get your facts right.

1 Like
#220

I mean it’s not over till it’s over losses are only permeant once you sell. This has been a long term play since the start. I guess I’m not super over emotional about it because, I didn’t invest money I couldn’t afford to lose. Except now we get to vote on if we lose or not and don’t get to make that decision for ourselves (democracy at it’s finest). There is still potential to rally this project, as investments pay off, and new investments are made excitement rises and ppl get back on the ride. Who knows maybe getting Sifu out of the treasury was exactly what wonderland needed before it rallied.

#221

You wont get anything back. Waste of time. God I hate that word! TIME

#222

This should be removed from the proposal: “Edit: Treasury will be paid back at backing price, and wMEMO held in the treasury is not a part of the distribution.”

If the amount paid back is at backing price, this only benefits those who bought at or below backing price and/or after this proposal was made, which means they are not long term holders (unless you bought at the genesis). This is against the spirit of Wonderland and Frog nation.

If the spirit of wonderland is to reward longer term holders, then this proposal is doing the exact opposite.

I think for this proposal to follow Wonderland’s spirit of rewarding longer term holders it should be adjusted to this:

  1. All wMEMO in the treasury should be converted to stables at backing price
  2. All tokens in the treasury should be converted to stables
  3. The FULL treasury amount (not just up to the backing price) should be divided to all wMEMO holders based on the % of wMEMO they own against the total circulating supply of wMEMO.
4 Likes
#223

This is the best comment out there currently with a sound mind, I support this whole-heartedly

#224

Lol, that’s stupid. The most of remains holders are new Frogs or Whales that blew down Wonderland and are taking advantage now. Suits win. The Snapshot of wMEMO owners should be that Sifu announcement for BSGG Airdrop. That it is a realistic date when everything start to get worse. The Frogs of that Snapshot are whos help the Treasury to get 1B, they are the real owners of the Treasury

4 Likes
#225

This would be nice, but treasury doesn’t have this much money, they only have backing amount. I don’t think additional magic internet money could be printed for this purpose, despite the name.

#226

1.) he snapshot must be taken before all the shit with wSifu began.
2.) E.g. the snapshot from the Gambling site.
3.) Then even people not having right now no memo or wmemo should be paid back (so really the snapshot from moment where you decided to make an airdrop) and
4.) I guess the best to start with the people having the lowest amount (number on wmemo) - because we also need the community beside the wales and go up in numbers whilst paying back

4 Likes
#227

Same boat. I guess need to detangle from Pendle into wMEMO?