Thread by @thedefiedge

There has been FUD around @Wonderland_fi treasury manager @0xSifu

Sifu is being accused of taking $8.4m worth of $time from the Wonderland treasury.

And then using it to PREVENT his own liquidation of $time.

I did some digging...

Here's what I found

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/1 What Happened?

• 4.25k Time ($8.4m) was transferred from the Wonderland treasury to Sifu's private wallet on 1/15

• He then added it to his collateral on @MIM_Spell on 1/16 to prevent liquidation

Sifu still ended up getting liquidated despite this.

This is all on-chain.

/2 Was Sifu Allowed to take out 4,250 Time?

• The treasury is secured by a MULTISIG

• They would NOT approve $time taken out to provide his personal funds.

So why was he allowed to take out that much money?

The FUDSTERS are accusing him of acting maliciously.

/3 Because it's $time that the team OWNS

From @0xSifu

"There is a difference between "taking time from the treasury to avoid liquidation" and "staking team token allocation disbursement well before the crash".

"I was not at risk of liquidation when I added those tokens to the Abra position which I have been building since we launched the CDP.

As I receive no cash salary, I sell tiny pieces here and there.

I have expenses and cover many company costs."

/4 Every Crypto project has a % of tokens set aside for the team.

• The Wonderland team receives $0 salary.

• This allocation covers compensation for their hard work.

• It also covers company expenses.

This is all in the official documents btw if you want to check

/5 How Much Allocation Does the Team Get?

5% of the Circulation Supply

The Circulating Supply is 889,667.

5% is 44,483 TIME Tokens.

That's worth around $52 million.

/6 Is 5% a LOT for the team?

Let’s look at the tokenomics of other projects.

Most DeFi projects take around 10-20%.

It looks like we're getting the deal of the century with 5%.

/7 Most of his $time is still in the treasury

Taking it all out at once would dilute the APY %.

So they take it out in small pieces.

Prevent liquidation?

He could've taken it out to pay for a for a cocaine-fueled orgy.

It's none of our business.

/8 What does Mr. @danielesesta think?

”Whoever fud about payments you think we're so stupid to send ourselves the money on-chain”

"They're all fucking police inspectors uncovering a BIG SCAM"

Btw.

Daniele has made an invitation for the FUDSTERS to inspect his fucking balls.

/9 Do the FUDSTERS have an agenda against Frog Nation?

Maybe.

I noticed that the FUDSTERS are hardcore Trader Joe fans.

Could they be salty that Wonderland moved all their liquidity over to @SushiSwap?

/10 Constructive criticism of a project is FINE.

But spreading lies and misinformation is NOT.

I'm supposed to be taking a break, but I can't sit back and see FROG NATION attacked with bullshit.

Did you enjoy this? Give me a follow @thedefiedge

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thanks @pwrflprsnts for the meme