Frog nation is about supporting frogs of all sizes. With the recent tweet regarding paying back investors with the treasury funds I thought of a way that would make it fair to all frogs who are true frogs until the news came out. Who agrees with this idea. Use the last airdrop snapshot of the BSGG airdrop. Then go through and include each new person who bought in after that snapshot. Regardless of leverage. Regardless of payback status. Or if they sold their share after the Sifu news. (Consider what they cashed out too in repayment to be fair to all) I hope each of those frogs from 3 weeks ago will get some sort of compensation since they all held through 80-90% downturn and deserve it. I think that’s the fairest plan of action to all frogs and so everyone gets some sort of portion. That way too if snapshot is taken now, whales who are buying in for 100K+ don’t take all of the treasury.
Please share and comment below. I think this is fair to everyone and it could be possible to accomplish.
IF treasury is used to payback investors, I think this is a fair approach.
I would rather see the continuation of using the treasury warchest to seed investments and yield opportunities. Is there any reason to think we can’t continue to generate the putative “$1MM revenue per day?”
i vote to appoint new treasury management, continue with original plan of revenue share.
snapshot needs to be taken before whales bought in on news that the possibility of a vote to refund holders was broken.
if we cant do that then the snapshot should have been taken sometime after jan 17 and before jan 26 because this swing FUD reked everyone.
100% with you. Using the snapshot is a fair estimation of longterm or last minute frogs, believing in the concept. I still do, I still dream about a Dao that incentives communal interaction and investing in a sense that would break away from simple capitalist roi returns. We really could have done some awesome shit.
I think we should continue and if it is possible to payback all people who invested from the dip their intial investment as they can see on the blockchain who put how much at what time and let them decide if they want to continue staking or leave.
I had to exit a formerly 50k position at 2,5k because of the communication fallout during the Sifu-Vote. I will recover, but if honor and trust are at stake, do this right. Use a trustable moment in History that is best representative of each frogs position in relation to the treasury, then give them the option to restart or retract from the project.
I agree 100% - I sold only because we were bleeding out so bad, I would have lost 90% over everything I initially invested back in Nov 2021. I held as long as I could hold, still lost 80%, I used no leverage, only hard-earned money from working and saving. I think this is the only way to show true morals.
Now with the SIFU issue, I can’t see Wonderland ever recovering no matter any other pivot proposal put forth. Use the treasury to heal the wounds as best possible and include those that sold off in the past 3 weeks to save what little they had left which today would be even significantly less. I exited at 49k…
I don’t see any reason to turn down the lights. On the other hand, we could find a nice and doxxed person with a name on the market to bring a fresh air. This + the treasury value and revenue would certainly pump the project.
Looks, guys. After a shit show, the treasury holds strong.
The only reason the treasury is holding strong is it isn’t being used the way it was intended to be used. I also question the investments made using treasury funds. Where is the revenue stream coming from those Wonderland investments? I for one haven’t seen any revenue from any investments - if they are happening, disclose them so we can all have visibility. There is a total lack of financial disclosure and good governance.
Shut this project down, pay back everyone the last 3 weeks that was liquidated or sold off to save what little they had left - including pay up those still invested getting shrunk by the minute.
Setup with lessons learned WONDERLAND 2 The Reboot!!! - fully doxed and vetting leadership, good governance - up to date docs with a clear lesson learned. I would reinvest in a relaunch with all the patches and proper governance.
Right now, hard to have trust and finding someone qualified to take on these critical roles is going to take significant time. Trust is earned - refund the treasury, launch a reboot with rebuilt trust.
This Exactly! I 100% agree
Honestly - the more complex you make it, the less likely it is to happen. Take the airdrops - usually airdrops are simple and don’t take long, but this one took so long (still hasn’t been distributed - or if it did then there’s problems because I didn’t get it) because of all the extra complexities, you had people with assets and in LP positions on TJ, Sushi, Thorus, Impermax, even across multiple chains (eg Fantom).
Keep it simple - take the treasury value, subtract all WMEMO owned by DAO, divide total stable assets divided by wmemo out circulating, and exchange wmemo for that exact amount. If somebody sold that doesn’t mean they miss out - they can buy back right now.
If you start getting all complicated with ‘well, we should do it at X point, not Y point’ you’ll have somebody else come along and say ‘wait…I was out at that point, that isn’t fair, let’s do it at A point instead of X point’ - not to mention tracking down all the mistakes made because SOMEWHERE somebody’s going to have some wmemo in something that the BSGG airdrop missed.
the issue with this is that people who haven’t been a part of this since the beginning can exploit and buy in just to get a piece of the treasury, eating in to the pie that is not theirs to begin with. in an ideal scenario, there should be a snapshot of every single day since the major FUD to keep track of holders and their invested/exited amounts, but i doubt this is a viable option, so imo OP’s suggestion is the next best thing.
I fail to see where this project failed … people want to see Wonderland like a long term, safe, bank savings account with 82k% APY … people really believe in magic … price action has been really bad, but the project rocks as much or more as before … let the team work and stop complaining about price …
Everyones initial investment should be payed back, YES.
But only to those who still hold. Those who sold made their decision. Why should we share with them? We took the risk to hold and therefore i dont see any reason to compensate the sellers.
The Snapshot needs to be dated back at least 1 month. Not sure when the BSGG snapshot was taken, but it needs to be at a reasonable wMEMO price, which was around 130k a month ago. This would be fair.
Well, they aren’t ‘exploiting’ it, they are risking money in the hopes it goes up for them.
Buyers right now are risking their money - and let’s be honest - the price is what it is because right now the impression is it’s at it’s highest risk ever to have money in right now. Their willingness to risk their money is what is keeping the price up enough for somebody else who doesn’t want to continue having their money at risk. There’s a reason some want to make things complicated, proposing all kinds of different snapshot times, and that’s because they sold, they don’t want to risk their money by buying back in now, but still want to benefit if it goes up (just without putting their money back at risk).
Edit: Well, there is a second reason somebody might want to muddy the waters with ‘let’s do a snapshot’ - and that’s if they want to spread fear, keep people from buying back in right now, keep the price low until they can buy it up themselves. If the waters are clear, uncomplicated, you turn in wmemo you get 40-50k MIM - it would be a lot harder to suppress and keep the price down.
Whales made a lot of money from cascades and all these generous buybacks whilst us hodlers got fucked even tho we all held this WHOLE time until today’s news… let’s hope but that’s all we can do that we get some initial investment or something back. Call it a day
100% agree. Stop trying to safe this sinking boat and reboot.
People exited their positions at heavy losses during the extreme conditions presented to the community, use the snapshot. No frog could foresee, how well his intentions may have been, that the DAO CFO was one of the Bernie Maddoffs of crypto.
Would this be unfair to holders until now in this extreme time of crisis? No, you would retain a part of the treasury on top of your current holdings (you will receive more like fair dollar value) and if you so chose can re-enter the project under new management.
this wouldn’t be fair to those who tried to salvage what they had left upon hearing the sifu news. is it unreasonable to withdraw after hearing news that the manager of a 1B treasury fund is actually a felon involved in multiple frauds? i personally believed in the project even after a 90% dip and would have kept holding to see what progress the team can make… that is, until today. i’m sure dani understands and feel somewhat guilty to those who left after hearing today’s news as well. if not, why would he propose the payback?
edit: responding to your point on people risking to buy wmemo now to receive payback; if the paybacks are actually happening, they’re not risking anything. they are essentially getting free money. the only risk they are taking is IF the paybacks are actually happening or not. thats the gamble they are taking. unrelated to the price of wmemo at all. because if paybacks are happening, wonderland is shut down.
You realize there’s both people in here saying ‘use the snapshot - people who sold deserve nothing’ (Timesplitter) and then you seem to be saying ‘use the snapshot - people who sold still deserve something’?
You see - that’s exactly what I’m talking about - you make it complicated and you’re going to get a million different ideas of what a snapshot should include, when it should be, who it should include or exclude.
We already have a blockchain - we already have a token that can prove ownership - keep it simple - turn in the token, you get your share of the treasury (about 40-50k per wmemo). You make that clear and our price will go up to near that right now - quickly. You muddy the waters, propose a million different things that would be very complicated and take weeks to implement and all you are doing is making the price go down for everybody.