Leaving Treasury Strategy to Daniele and his team

As Daniele says on his twitter, “invest in people with ideas, not ideas with people”.

We, the Frog Nation, are here because we believe in Daniele’s vision for decentralised finance. It doesn’t make sense, therefore, to decentralise this aspect of governance.

We should be free to offer ideas to change the protocol. But these ideas should meet the approval of Daniele and his team, which should act as a final check. When it comes to the intricate aspects of Defi, I place more trust in the man behind Abracadabra, MIM and ICE, than the majority of frogs.

To give one example, let’s take the rebalancing of the Treasury into a higher % of stable coins on 02/12. This move turned out to be beneficial when Avax dropped in price not soon after. The team then went ahead to buy BTC and ETH at lower prices on 04/12, which was beneficial for TIME.

The above would not have been possible if every decision had to be approved by the DAO. Things move quickly in crypto. There is nothing wrong with leaving some decisions to those who know best.

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Yea I agree, and I’m pretty sure for any big proposals it will have to go through the head team before it is passed already. They’ve already stated we aren’t a hippy association just going to go through with every proposal passed. They will all be heavily reviewed especially the big ones.

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Agree, after seeing the quality of posts here i would have daniele & co have a strong say in what we do.

If i see another post about rebase hopping one more time…

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Agreed, the recent events have shown that daniele is more than capable to manage the funds.
If it had gone through a vote we would have been in deep shit right now, and frogs being frogs would have jumped ship the minute the market went through a minor correction.
In Daniele We Trust

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Agree strongly. Dani and Sifu have done very very well by all of us. They already are listening to us. The DAO should be extremely cautious of voting for anything which forces them to pre-approve their moves, budgets them, or otherwise takes away their ability to react to ongoing market conditions.

When it comes time to lay out big expenditures from the treasury, our input should be in the form of an advisory vote or general request for things we would like to see- versus specific dollar figures, particular purchases they must buy or deadlines for them to meet. This will leave them the freedom to cut deals, wait for the right time to act or walk away from a bad deal.

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Totally agreed.

Better leave it to them whom will be a final layer of approval than to people whom are making decisions based on individual benefits.

It’s community/company over individual.

I’m in the situation to agree in part with you guys.

I state that, when it comes about investment, I don’t trust blindly nobody, but, like I said in other post, Dani is one of the smarter guys in this environment afak.
The projects that he has created are really solid and the team behind is very capable to manage it (Sifu is doing great with Wonderland management imo).

I like to discuss and know what the users think, but if I have to choose, I’ll prefer to listen first to Dani’s proposal and think about it. The key of this has to be transparency tho

Nevertheless people thinking could be a huge help to find brilliant ideas.

We’re apes (figuratively and genetically) and apes generally have a hard time imagining the world without an alpha male in charge. It’s why we’ve had emperors, kings, presidents, prime ministers and so on. And God.

So there’s an argument to let Daniele carry on making decisions on a whim, as he and the team see fit. The beefs with Zeus and Trader Joe just solidifies the Frog Nation behind Daniele, right? The proposed ‘takeover’ of Sushi is genius, right? The selling of Avax before it dipped was prescient, right?

Thing is, I can’t think of any leader throughout history, off the top of my head, who played their ‘A game’ throughout their lifetime. Maybe Alexander the Great or Genghis Khan, it could be argued, finished on a high. But it’s rare. Even great leaders tend to fall from grace eventually. And it’s often from trying to bite off more than they can chew.

I don’t really think it matters right now, as I think anything Daniele puts up for votes would win in a landslide, and the vast majority of the Frog Nation are more than happy for him to be a benevolent dictator, so to speak. But think about long term. Is having all that money and power in the hands of one man (or him and his friends) a good thing?

Remember:

Power corrupts. Absolute power corrupts absolutely.

Food for thought.

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I believe leaving Daniele in charge is the best decision for the protocol at the moment as long as he communicates and uses transparent channels to make these decisions. I know it will be hard for some people to admit it, but In many ways he is TIME.

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yup, let Daniele and the team do their thing and be transparent with us

yep 100% I think Daniele should lead

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I do believe that now in the beginning and for a foreseeable future it is a good idea to stay dynamic and use the expertise and proven track record of the team. Let them do the moves!

I fully agree with this quote.Transparency and communication would be key.
I would love to see the exact match of the treasury funds with the list of addresses containing the different assets on the different chains. I tried to match the treasury balance with the zapper.fi bundle detail of these 4 wallets and I coudnt match it no matter I dont count the amount of time.That would be an example of full clarity and transparency

Agree, but would like to hear about their vision for TIME, outside of treasury management.

Totally agree, we should let Daniel and his team do what they do best, specially because me myself I’m one of those who doesn’t know what’s best for the project.

Therefore I know that I’m am not going to vote on any or almost any proposals, but I also know that some people are going to vote despite having no idea of what they’re doing.

Not being funny, but Daniele has created something that no one else has. Why would I want to trust the masses when we can trust the genius who’s got us to this stage? Sure other decisions should be down to a vote, but I somehow feel leaving the treasury in the hands of regular people who know fuck all about defi is doomed to fail…

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Daniele touches on his vision for Wonderland in this video (at 13:55) A Chat with Daniele Sestagalli, Founder of Wonderland (TIME) | Avalanche House - YouTube

Ya I have heard that but I was looking for some updates. AMA was good; definitely inspiring.

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IDK, the fact that leveraging and borrowing was allowed in the first place by the management team, with their own projects and products to bolster the treasury and artificially inflate the price was a terrible idea. Obviously. I had no idea how many people were invested in the project with money they didn’t have expecting they would be rich in 2 months and could pay off their debt and get a lambo. Whatever has been going on the last 4 weeks did not have to happen the way it happened. Time would still be down with the rest of the market but i dont believe it would have hit 2700 from 9000 in that span of time if that kind of leveraging and borrowing was not allowed. Now your going to have people jumping back in and doing the same thing with whatever money they have left after being liquidated to recover some of there loses and its going to keep going down. If this doesn’t stop we will hit backing price and hit it soon. Saying dani created this new thing and is some kind of financial wunderkind is wrong, This is a copy paste fork and there are like 10+ of them now (this is called creating descent in the community instead of debating an idea btw and i will be banned by tomorrow) So far the treasury strategy has set the charts down like a paper airplane with a rock tied to it. If you print money “MIM” and then lend that product you make to someone so they can go buy another one of your products “TIME” at a premium just to build your treasury. That to me seems like poor asset management. And as much as i like Dani as a person from all the interviews i have seen, his views match my views on personal freedom and future of finance. He is admittedly a hot head and from what i have seen a very much shoot first and ask questions later personality. Would it hurt to bring someone on the team at their level that can be the straight man? Someone that could have said a month ago “Hey, if you keep lending like this and the price drops 3k all the people that borrowed are going to get liquidated and your going to have a liquidation cascade”? The top had all the data and metrics. Looks very much like 600million of tvl was borrowed and the stakers wrote a check their ass couldn’t cash. And if that is what happened, that is %110 on management being shortsighted. We went under 3k earlier. As much as that is my problem, i am not the one that caused it. This project needs a “treasurer” to manage the treasury and how it retains its funding.

Agreed I have faith in Daniele in the team which is why I’m so heavily invested in wonderland

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