The decentralized finance protocol Wonderland, which is the subject of discussion, will cease its activities, according to the statement of Daniele Sestagalli, one of the founders of the platform.
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Wonderland experiment is coming to an end. It is clear from the vote that the community is divided. The core and heart of Wonderland is still the community. If we cannot find agreement on wether to continue or not, it means that we failed.— Daniele never asks to DM (@danielesesta) January 30, 2022
Due to developments Wonderland The price of the (TIME) token has dropped another 10% in the last 24 hours. With the last drop, the altcoin has lost 97% of its value compared to its peak level.
Wonderland, OlympusDAO protocol Avalanche It was launched in late September as a clone-based clone. Community members of the platform referred to themselves as “frogs”.
What Happened?
The administrator named 0xSifu, one of the anonymous founders of the DeFi project, which did not make its name known until the beginning of the week, has a ponzi scheme called QuadrigaCX. cryptocurrency It turned out to be Michael Patryn, one of the founders of the stock exchange.
The same name served 18 months in prison in the United States for leading the Shadowcrew identity theft gang in the 2000s.
Patryn, whose real name is Omar Patryn, came to the fore again in 2019 with the death of QuadrigaCX CEO Gerald Cotton.
All the private keys of the cryptocurrency exchange were lost, along with Gerald Cotton, who allegedly died suddenly in India.
However, as it later became clear, the exchange in question was actually using the Ponzi scheme, which is a fraudulent method.
Daniele Sestagall, the co-founder of Wonderland, admitted that he knows 0xSifu’s true identity, but wants to give him a chance.
On the developments, the Wonderland community held a vote, resulting in 0xSifu’s dismissal.
Despite Voting Results, Sestagalli Announces Wonderland Will Be Closed!
In another vote, which started on January 29, the issue of closing the project and repaying the assets to the community or continuing its activities was put on the agenda.
Sestagalli, on the other hand, made a statement on Twitter, claiming that the altcoin community is openly in disagreement.
At the time of this writing, the voting situation is in favor of “don’t terminate the project” with 54%.