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    The Founder of Wonderland Offered to Shut Down the Project

    Wonderland

    Looks like the hype around The Wonderland (TIME) will continue for a long time to come. Over the weekend, Frog Nation CFO (a group of multi-chain DeFi projects including Abracadabra and Wonderland) Michael Patryn (Sifu) was ousted from Wonderland's leadership team, just two days after his criminal past was revealed.

    A vote to abolish Wonderland has now been launched, which can be seen as a fight between whales (who most likely want to benefit from speculation on the TIME rate) and private supporters of Frog Nation.

    However, Wonderland founder Daniel Sestagalli on Sunday called for the disbandment of this DeFi 2.0 project, which caused discontent among many of his supporters.

    The project community has launched a vote on the proposal to dissolve it and return funds to investors. According to the founder of the project, since the results of the vote were close to 50/50, there is "only one way forward - to refund and roll everything up." He added that he is working with the team on a new proposal.

    The community has developed its own options for rescuing the project, including merging with the Abracadabra protocol or launching Wonderland 2.0 with a more transparent DAO governance system.

    An open vote on the proposal to keep the project and the Treasury has a current support of 54% at the time of writing.

    The native Wonderland token (TIME) has fallen by 96% from its high of $10,063 in October 2021 (CoinGecko). The asset is trading at around $388. This is approximately 53% higher than the low reached amid the scandal with the identity of Michael Patryn – $261.88.

    Only time can tell how this story will end, and we can only watch and wait.

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.

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