Difference between revisions of "Wonderland"

Wonderland is an [[Avalanche]]-based [[Olympus DAO]] fork that was founded in September 2021 by [[Daniele Sesta]].<ref>https://twitter.com/danielesesta/status/1433597864781955074</ref> Wonderland is noted as the most popular [[Olympus DAO|Olympus fork]]. Proponents of Wonderland (and the greater Dani-verse of DeFi) refer to themselves as [[Frog Nation]]. At the peak of Wonderland, it surpassed $2b market cap<ref name=":0">https://www.coingecko.com/en/coins/wonderland</ref> and total value locked (TVL).<ref name=":1">https://defillama.com/protocol/wonderland/all/USD</ref> In a January 2022 [[crypto twitter]] thread, [[zachxbt]] revealed Telegram direct messages from Daniele that alleged the CFO of Wonderland, [[Sifu]], was Michael Patryn.<ref name=":2">https://twitter.com/zachxbt/status/1486591682728673282?s=20</ref> Patryn is a co-founder of Quadriga, Canada's largest cryptocurrency exchange that ceased operations in 2019 after the founder Gerald Cotten died<ref>[https://www.facebook.com/quadrigacx/posts/2218141444897123 QuadrigaCX exchange announces the death of its co-founder and chief executive, Gerald Cottenf] </ref>. Wonderland immediately voted to remove Sifu although this incident caused a major rift in the protocol's community that ultimately led to a rage quit option being voted on and passed by the community.<ref>https://www.wonderlandforum.xyz/t/wip-5-offer-a-rage-quit-option-to-wmemo-holders/15176/2</ref>

It was eventually revealed on January 25th that the liquidation cascades causing the price decline were somewhat due to Daniele and Sifu's wallets.<ref>https://liquidated.fyi/address/0x8A7f7C5b556B1298a74c0e89df46Eba117A2F6c1</ref> A mere 2 days later, [[zachxbt]] revealed Telegram direct messages from Daniele that alleged the CFO of Wonderland, [[Sifu]], was Michael Patryn.<ref name=":2" /> This bombshell shocked crypto twitter and ended up producing many memes, such as "Funds are Sifu." [[Sifugate]], as this event is commonly referred to as, also caused damage to Daniele's other projects [[Abracadabra]], Spell, and Popsicle Finance.