Daniele Sestagalli, the key figure behind projects such as Popsicle Finance and Abracadabra Money, has announced the launch of Expecto Patronum. Expecto Patronum has been designed for Wonderland rage quitters, incentivizing them to quit through Patronum.
Incentivizing Rage Quitters
Sestagalli took to Twitter to talk about the project, stating that it was designed to incentivize Wonderland rage quitters, giving them a 10% bonus in SPELL tokens if they rage quit through Expecto Patronum.
Sestagalli further implored Wonderland rage quitters to consider the option of rage quitting through Patronum, stating that it would give them significantly more value in SPELL. He further stated that the MIM collected from the rage quit will be utilized towards strengthening the MIM peg.
The Wonderland Wind Down Vote
Sestagalli had proposed to wind down the Wonderland protocol, distributing its treasury to wMEMO holders. The proposal pretty much divided the community in half, with the proposal ultimately failing by a small margin. Reacting to the close split in votes, Sestagalli took to Twitter, stating,
“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 an agreement on whether to continue or not, it means that we failed. The duty of the Team is to enact the will of the token holders. As the vote is so close to 50/50, there is only one path forward, to reimburse/unwind those who do not feel be part of Wonderland and find a new home for who feels attached & inline with the Frog Nation Vision.”
The Wonderland CFO Controversy
The wind-down vote and subsequent rage quit window comes after revelations unearthed by the pseudo-anonymous on-chain sleuth ZachXBT who blew the lid off a potential scandal that could significantly shake investors’ confidence. ZachXBT revealed that Wonderland’s Chief Financial Officer is Michael Patryn, aka Omar Dhanani.
Patryn’s Background
Michael Patryn had earlier been charged and convicted of identity theft charges in the United States and has already served an 18-month sentence in prison. He had also pleaded guilty to burglary and grand theft charges and been deported to Canada. Patryn has also changed his name twice, from Omar Dhanani to Omar Patryn, and then subsequently changed his name to Michael Patryn.
Co-founder of Wonderland, Daniele Sestagalli, has worked with Patryn, entrusting the latter with looking after the treasury. He revealed that he had become aware of Patryn’s background a little over a month ago but decided that what happened in the past remained in the past and that Patryn deserved a second chance.
Native Token Takes A Pummeling
The native token of Wonderland, TIME, had already taken quite a drop before the developments and went on to drop considerably more. Since the developments, Sestagalli seems to have had a change of heart, releasing a statement on his views and asking Patryn to step down until the community votes on the treasurer position.
However, Sestagalli received some support from Andre Cronje, who stated that he would still be going ahead with plans to work with Daniele, despite his poor judgment.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
