FuD wMEMO rebases numb nuts
People is just too emotional, everyone bad holding and over invested. While I would like to keep going I donât see it really doable.
The project was killed by its own success attracting too many get-rich-quick people, people buying at 10X the intrinsic value and panicking at 50% treasury price demanding a refund.
Letâs liquidate. But how? Some assets in the treasury like BSGG are illiquid, distribute that to the bag holders and we kill them.
It rebases based on dollar value not number of tokens. They are trying to base it off number of WMEMO which is not the true value of your share. Read what I wrote. If you want to base it off wmemo, then it needs to be based off the total value and not number of tokens.
That method is not whatâs assumed in the vote doc though⌠so if you vote yes youâre voting to NOT thatâŚ
how do you suggest to generate 80k% out of air?
For the ones still thinking the APY could have ever materialized or that it can still make up your looses:
This loss will teach you many things, will be a good learning, hopefully you didnât over invest.
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The real question is who the hell is going to take over the treasury in 5 days? Are people interested?
Honestly the only thing that isnt fair is how dani and sifu sit on their asses with over 100âs of millions of dollars when they claim that they loved usâŚif they really loved anyone they would make it right out of personal funds like REAL frogs. These greedy fucks are no different than the suits, and the liquidation cascade shit was a scam until someone can prove it otherwise, fuck all of these dipshits who âinvestedâ into Wonderland. Dani knew sifu was behind a massive scam ring, sifu even has the quad funds and noone has actually proved merlin isnt the bitfinex guyâŚthey want to get rid of us now eh? is that just a coincidence to? I cant believe these guys are going to get away with this lmao
You canât liquidated using a snapshot you need to liquidate whoever holds WMEMO.
If someone panicked and cut his losses wonât get anything else because someone else took out his risk by buying their stake.
Imagine now WMEMO shoot up to 60K, should we refund who sold at 20K in panic? Obviously not.
Who bought below treasury, whales or not, helped the price not going to 0 during panic and effectively offered a way out to someone else that thought the best for them was getting back 20K for each WMEMO as they didnât want to risk getting less than that later on
Horrible idea!! Do NOT wind down Wonderland!
Do NOT pass it over to the community! Dani is one of the main reason many frogs have joined the nation.
Dani MUST continue as Frog nation leader, then buybacks must completely stop.
I got liquidated below $25K as well and I understand that money is GONE, the same set of rules that applies shouldn´t be changed because of this.
Every frog need to enter an investment mindset and understand that this isn´t a get rich quick scheme. This is supposed to be a get filthy rich in the long term scheme and we ALL must do our very best and work together for a prosperous future.
Now let´s try to look ahead as soon as these 2 votes have passedâŚ
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Pretty shady that âTreasury will be paid back at backing price, and wMEMO held in the treasury is not a part of the distribution.â I have spent the past days standing up for you and the project and have a proposal in with 84% wanting to drive forward because they still believe in the project. You basically collected wMemo at a discount these past weeks during the buyback with our funds and now pocketing it as its ânot part of the distributionâ.
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5 is the most important to me @cryptosteak
6 comes next
Do you think there is ANY scenario where this situation is salvageable?
Can this be un-fucked?
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I think you are misunderstanding, that WMEMO wonât cash out AKA more backing for everyone else.
However would be interesting to know about Daniâs and Sufiâs stake. Will they give up teamâs allocation?
This is wrong, you took the risk. If lets say wMEMO sky rocketed, you would have made insane gains using leverage. Great job. But since you lost, please refund my money. It does not matter at what price you got liquidated. Thats how leverage works, if you cannot handle it stop leveraging. The treasury does not need to pay back degens leveraging. There is NO such thing as UNFAIRLY LIQUIDATED, you were liquidated.
Ask yourself, would binance give you a refund.
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You are an idiotâŚlmao you say shit like that but how the fuck do you know that they didnt liquidate people on purpose to take their money!?
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we need to keep going, dissolving the treasury is not going to help anyone. Pennies on the dollar.
Its ~$600M is alot of money. even stable passive returns would be enough to sustain good returns for long time holders. The people worried are people who over invested/got liquidated. Both of which are lessons for them to learn. All this get rich quick schemes are not going to work. Most people here who want the treasury dissolved are one of these two. Salty is the right word. I am sorry you leveraged. I am sorry you spent rent money on a crypto investment.
But the treasury is a war chest and needs to be used as such. Not used to pay back degens.
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The backing was always a soft floor. And Dani himself got liquidated. It was an attack, which is fairly common these days. Price drop so whales buy cheaper. Its not SPECIAL to wonderland. People were greedy and used leveraged. They wanted all the reward but do not want to take any of the risk. Huh
Attack by who? Sifu maybe? lmao get out of here, these mother fuckers need to be checked out by the fed dani let a known scammer manage the treasury funds. FROG NATION WAGME btw. Fuck you!
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The price is well below prices people got liquidated. So how did they take anyones money lol. The treasury is what weâre looking at and all transactions are on snowtrace + etherscan + MULTISIG. Please google how a multisig works.
A quick look at the treasury that is not TIME/wMEMO, assuming we also get whatever that is illiquid, amounts to around 409m USD, assuming this amount to split among 17000 wMEMO, it is effectively 24k USD per wMEMO. This excludes further price depreciation of the underlying assets; if paid in stables the dumping of non-stable assets will crash the price and we will end up with a fraction of 24k USD per wMEMO, and if distributed as treasury assets, there may also be a dump since many will convert those to some other assets.
All scenarios are not ideal, but winding down is more advantageous to both the dev team and whales accumulating at discounts. Wonderland still has a functional treasury, which is a great asset in itself and it is still possible continue as a decentralized VC role. Treasury still can grow from solid investment on other promising products.
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I know how multi sig works dumbass just because there is a multi sig doesnt mean these dudes could have had a bot to manipulate the price in their favor you keep believing in these scum bags I really do hope these fuck wits get nailed by the fed
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