AIP #7 - Expecto Patronum: A shield for all frogs

What’s the new benefit? It seems that we go against the intended idea of significantly lowering our amount of tokens. This keeps those tokens in play. I am not completely on board with this.

What is borderline criminal the lack of research people like do before you come up with these rock solid opinions. I am so tired of having to explain to nearly illetarte people like you. Check the tweet and proposal. What you think is happening, is not.

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wonderland team winding down. so whats happening is everyone is being offered to exit with their share of wrapped* memo or move it into spell voluntarily cuz most of us are probably in spell already lol.

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Backing price of wMEMO holds assets which have huge upside like BSGG tokens, Cross the Ages tokens. And some of these tokens aren’t even received yet, i.e., are locked with vesting schedule. It just won’t make sense to convert this whole backing to SPELL tokens, one can simply swap stable part (MIM, USDC, etc.) of their share to SPELL. Unless contradicted, I am saying NO to this proposal. Previous merger proposal was better than this as in that our treasury was still being used for investment in good projects, protocols, yield farming, trading, etc.

Let me get this right, you want to mint ( print ) money to pay debt ( cost of DAO )
What a novel approach.

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This is Abra’s proposal, not Wonderlands. Dani already said that the Wonderland proposal will offer an option to get money back at value of treasury backing. This proposal is for Abra to decide how they’re going to defend against recent attacks. Expecto Patronum is their prospective solution.

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Please help people like me who got liquidated in the recent events being super super safe. I was only taking a loan on abra of 260usd from 1.5 MEMO and got liquidated anyway. imagine that. and I even paid like half of it before liquidation but then avalanche got so congested that had 5 orders to repay but got liquidated before that. I also think that liquidator bots should be open sourced and let frogs join forces to run liquidation bots, because the business is running a liquidation bot and using leverage, from what I can see on all the behavior of you guys. I really like abra, is a super great project really well thought out, branding speaks the language of memes, the CRV plan is a solid plan, will make this one of the strongest defi projects, I would not go all in on CRV, maybe some diversification is good, but Well maybe you know better. I think this proposal needs to explain a little better how will this benefit holders of spell but with a clear example with numbers, projections etc.

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What we getting back for Wmemo backing price is utterly ridiculous still 95%down now spell is up 22% in last 24 hours Wmemo like 8% so the first RED Flag is the exchange rate.
However even so trades from higher to higher up are still possible what happened with ACH after was listed on Coinbase 300%up in 2-3 days.
What we need is numbers no philosophy and purposes or reading shite that’s irrelevant.
Numbers APY % ,%profit share , Potential ROI %
All this is fuckin non sense I don’t see anyone enthusiastic about this as most of people have no clue WTF is this on about.
Idea is DAO on 97% down in few days fuckin great now foggy projects that no one understands it.
I don’t think people would bother even vote this I’ll be surprised.
What we vote for we been sent to Fuck now why should we embrace this shite
Gives our Avax back including those who were hacked from your platform mate as you didn’t had not even a basic form of protection when accessing the app I understand what took from my wallet is my responsibility but my vulnerable wallet was the key to your platform my funds possible other’s too .
I mean is so hard making a password on the site link a 2FA or a Yubico key?
I wouldn’t lost 93 Avax from Wonderland if your platform had adequate security measures it would be detained them I don’t challenge what they took from my wallet but they took it from your platform eiger.
Pay us the same Avax we got in because you broke the contract not we.
Wonderland by the way belong to us including the website and the tokens.
We shouldn’t accept that we can have the treasury in own hands if the community is United enough. Things is no one should manage it actually can be managed by consensus by community everyone keeping its coins

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You got hacked because you didn’t invest in a hardware wallet, and you’re 95% down because the investment you chose had a 95% drawdown.

You made your own decisions, noone else. If you can’t figure that out then I’m afraid you’re not gonna make it.

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This is not a bail out of Wonderland. This is basically an ICO to a bunch of folks with sudden liquidity in their hands. The only question SPELL hodlers need to consider is do they want to conduct a coin offering and raise a bunch of fresh capital quickly?

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A global lawsuit its being prepaired against Wonderland from what i eared so watch your spell bags boys it gonna get heavy.

To avoid future drama, I humbly ask all ALL Abracadabra multisig to doxxed themselves and declared of any negative history

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Wonderland may be a different project but same ecosystem. Imagine if they were built out as such. If all of the frog nations projects stopped fighting over who gets what and they started working together making one massive fly wheel.

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1st.

Asking for all the msig to be doxxed is not gonna happen. DEVs are anon for good reason, and some have nothing to do with TIME. Their track record speaks for itself.

2nd.

There is a bit of an assumption that holders of their DAO tokens will come and swap. But there are some very very big holders of these DAO tokens, and if they are looking for a long term stake in SPELL then this is pretty golden. You can consider this an OTC deal then. But instead of making it exclusive, it’s permissionless, and for this reason, I like this…

The quantities of how much, I m not invested enough to much care. But to transition from paying for LPs has been proven many times to be worth exploring.

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This makes sense as long stablecoins don’t get scammed by Biden soon, in which case it doesn’t matter what they do. Can anyone comment on the willingness of CRV to allow this type of influence? the other assumption will be that the WMEMO holder will come and swap, is this going to be voted on by TIME holders as well, or is this an open call to accumulate share of the treasury?

As a spell holder I like it, just not sure how smooth the actual execution of the plan will be.

you try so hard to mix up Wonderland and Abracadabra
it’s so annoying!

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Maybe another question is: Are the current hodlers of wMEMO the best possible investors for the future of SPELL? My feeling is no. And I also feel like there would be other interested (strategic) investors.

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Great idea! SPELL to $1… People need to have vision for the future of DeFi and this makes us a lot stronger. Frogs together strong

From one point of view we have a dao with relatively big treasury and on the other side a lot of fud around the project it self due to short term vulnerability both of the protocol and managers. During the dip I would say security measures were put in place so the project wouldnt die on us when the “shooting” began. Everything always could be much worse and we should keep that in mind. So with all the fud around WL the only way out is either WL v2.0 with new adjustments or closing the project and moving our assets to abracadabra. Abra frogs would be happy WL frogs not so. Why? Abra frogs invested from the start would see an expansion and WL not much because of the too big expectations and lack of research, too much youtuber followers gambling life savings away, sitting in front of the calculator dreaming of the wonderful painless life without any worries with all the millions in their pocket. Many of them feel like they will be going for less if they join abra because of their high expectations. I speak more of the usual, small frogs like my self. We do need to shutdown noise and take a look what we got our selves into. Either way a choice has to be made. Its not the Dani or Sifu, but we ourselves are taking the final responsibility how we manage our finances and right now if WL 2.0 is not an option joining abra is. Its either sell wmemo at the loss now or get an opportunity to get back where our investments started because WE ARE NOT EVEN IN THE MIDDLE OF Q1!!! When there is bottom line there is then only one way.

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What will be the backing price of DAO assets ?