MAJOR FROG NATION ALPHA
There is a proposal to COMBINE Wonderland and Abracadabra into ONE protocol.
@danielesesta conducted an AMA on the proposal.
• Details of the merger
• The upside for both protocols
• The # and $
• What I think of it
Here's the alpha:
🧵
There is a proposal to COMBINE Wonderland and Abracadabra into ONE protocol.
@danielesesta conducted an AMA on the proposal.
• Details of the merger
• The upside for both protocols
• The # and $
• What I think of it
Here's the alpha:
🧵
/1 Wonderland Today
• They used rebasing as a tool to raise $835m in its treasury
• They have started investing in projects such as $BSGG and $CFA and soon Wormhole.
• Their treasury farming has been beating the market in the dip
Is Wonderland Successful?
• They used rebasing as a tool to raise $835m in its treasury
• They have started investing in projects such as $BSGG and $CFA and soon Wormhole.
• Their treasury farming has been beating the market in the dip
Is Wonderland Successful?
/2 Wonderland started as an experiment.
The goal was to use OHM mechanics to raise funds, and to invest in DeFi projects.
By that metric, they have been successful.
Dani admits that the communication has been horrible.
They are working on improving it.
The goal was to use OHM mechanics to raise funds, and to invest in DeFi projects.
By that metric, they have been successful.
Dani admits that the communication has been horrible.
They are working on improving it.
/3 Why combine the two?
Each protocol can survive on its own.
This is NOT a rescue mission.
The protocols COMBINED will have more power and SYNERGY.
Think 1 + 1 = 3
They have been working on this for months.
Today was unfortunate timing to announce it.
Each protocol can survive on its own.
This is NOT a rescue mission.
The protocols COMBINED will have more power and SYNERGY.
Think 1 + 1 = 3
They have been working on this for months.
Today was unfortunate timing to announce it.
/4 What would the OUTCOME look like?
• $200-300m a year in revenue From Abra
• $800m War Chest from Wonderland
• Treasury Farming
• VC investment arm
All this combined would make it the most powerful entity in the industry.
• $200-300m a year in revenue From Abra
• $800m War Chest from Wonderland
• Treasury Farming
• VC investment arm
All this combined would make it the most powerful entity in the industry.
/5 How does this benefit Wonderland?
Imagine a Hedgefund with its own bank.
What if Blackrock + Chase were 1 unit?
• Access to capital is easier.
• Preferred rates and access
• Easy onramp. wMemo isn't on any CEX's yet. Spell is ALREADY on Binance + Coinbase
Imagine a Hedgefund with its own bank.
What if Blackrock + Chase were 1 unit?
• Access to capital is easier.
• Preferred rates and access
• Easy onramp. wMemo isn't on any CEX's yet. Spell is ALREADY on Binance + Coinbase
/6 Wonderland is Finalizing a deal /w Wormhole
* It is an interoperable bridge that connects AVAX, OASIS, BSC, ETH, POLYGON, SOL, and Terra.
There will be an airdrop of Wormhole tokens.
* It is an interoperable bridge that connects AVAX, OASIS, BSC, ETH, POLYGON, SOL, and Terra.
There will be an airdrop of Wormhole tokens.
/7 Increasing the ADOPTION of $mim
Right now Wonderland is just an investor.
What if we used our power to spread $mim?
Imagine:
• Wormhole uses MIM to bridge
• Or BSGG uses MIM for betting.
Options….derivative….we will put MIM into everything.
Right now Wonderland is just an investor.
What if we used our power to spread $mim?
Imagine:
• Wormhole uses MIM to bridge
• Or BSGG uses MIM for betting.
Options….derivative….we will put MIM into everything.
/8 The Most Attractive Investor
Great companies have people throwing money at them. What do we offer?
• Several hundred thousand Frogs
• Borrowing / Lending
• Listing access
• Farming via Sushi
Great companies have people throwing money at them. What do we offer?
• Several hundred thousand Frogs
• Borrowing / Lending
• Listing access
• Farming via Sushi
/9 In a way, Don @danielesesta is creating a mafia.
He's going to give companies an offer that they cannot refuse.
NO ONE will be able to compete with our value prop
He's going to give companies an offer that they cannot refuse.
NO ONE will be able to compete with our value prop
/10 What's the name? Wondercadabra?
Nope.
If the proposal passes, Wonderland would no longer Exist
• Wonderland becomes Abracadabra
• All of our wMemo transform into $spell
• We would be transforming the business model of Wonderland.
Nope.
If the proposal passes, Wonderland would no longer Exist
• Wonderland becomes Abracadabra
• All of our wMemo transform into $spell
• We would be transforming the business model of Wonderland.
/11 Where are the tokens coming from?
With the current price and marketcap, there are not enough emissions for buying at this market cap.
Dani and merlin have spell token allocation, more than 20+%.
They will use those to buy wMEMO inside the treasury.
With the current price and marketcap, there are not enough emissions for buying at this market cap.
Dani and merlin have spell token allocation, more than 20+%.
They will use those to buy wMEMO inside the treasury.
/12 What if you don't want to become a part of this?
There’s an idea floating around for a buyout.
If you don’t want spell tokens, you can send your wMemo to the treasury and “cash out”
They will not force you to become a part of this if you don't want to.
There’s an idea floating around for a buyout.
If you don’t want spell tokens, you can send your wMemo to the treasury and “cash out”
They will not force you to become a part of this if you don't want to.
/13 SOLIDSWAP
Frog Nation would hold quite a few of the SolidSwap NFTS
• Abracadabra
• SushiSwap
• Wonderland gets a piece of the Morpheus Swap’s NFT
Frog Nation would hold quite a few of the SolidSwap NFTS
• Abracadabra
• SushiSwap
• Wonderland gets a piece of the Morpheus Swap’s NFT
/14 What's the Exchange Rate wMemo for $spell?
Unknown for now. They want it to be as fair as possible.
They need to do an audit of Wonderland's treasury.
Also the price of wMemo and Spell are fluctuating now based on the news.
Unknown for now. They want it to be as fair as possible.
They need to do an audit of Wonderland's treasury.
Also the price of wMemo and Spell are fluctuating now based on the news.
/15 How would rebases work?
There won't be anymore rebases.
It'll transition to a revenue share system.
• Spell has 30% APR from fees
• Treasury would Farm.
• Revenue share from investments
Some details are not finalized. Spell does buybacks whereas wMemo does not.
There won't be anymore rebases.
It'll transition to a revenue share system.
• Spell has 30% APR from fees
• Treasury would Farm.
• Revenue share from investments
Some details are not finalized. Spell does buybacks whereas wMemo does not.
/16 Abracadabra Focuses on ETH. ETH IS TOO EXPENSIVE
• They want the fees to be generated in stablecoins.
• You'll be able to claim on whatever chain you want whether it's ETH, FTM, or AVAX
• They want the fees to be generated in stablecoins.
• You'll be able to claim on whatever chain you want whether it's ETH, FTM, or AVAX
/17 FUD From Last Night
• Someone accused Dani of rugpulling
• They have since deleted the tweet
• They used screenshots that are WEEKS old
• Dani transfers $ bc he wants undoxxed wallets
Whales + FUD coordination while Dani / Sifu are sleeping.
• Someone accused Dani of rugpulling
• They have since deleted the tweet
• They used screenshots that are WEEKS old
• Dani transfers $ bc he wants undoxxed wallets
Whales + FUD coordination while Dani / Sifu are sleeping.
/18 How would voting work?
Some people are concerned about the voting power of Whales.
Dani agrees.
There’s not a final decision yet on the voting, but they will consider how to distribute the voting power.
Some people are concerned about the voting power of Whales.
Dani agrees.
There’s not a final decision yet on the voting, but they will consider how to distribute the voting power.
/19 What Do I Think?
Nothing.
I need more data.
I need to see the audit.
The proposal is a rough draft.
I need to spreadsheet out the math.
I need to sit down and think.
The #’s are not final
I will say that this is VERY interesting.
Nothing.
I need more data.
I need to see the audit.
The proposal is a rough draft.
I need to spreadsheet out the math.
I need to sit down and think.
The #’s are not final
I will say that this is VERY interesting.
/20 WHEW! That was crazy.
I cancelled my lunch plans /w a baddie to get you this alpha
Enjoy this thread? Follow me at @thedefiedge
Tomorrow I am sending out an email on my bear market strategies at thedefiedge.com.
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I cancelled my lunch plans /w a baddie to get you this alpha
Enjoy this thread? Follow me at @thedefiedge
Tomorrow I am sending out an email on my bear market strategies at thedefiedge.com.
Sign up to read it!
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