Last week, Wonderland CFO and co-founder Michael Patrin resigned after his previous allegations of fraud came to light. He was convicted of multiple credit card fraud charges in 2000 and was found guilty. After his resignation, the voting regarding the latest DeFi project took place at the Wonderland Governance Forum. Based on the votes, the future of the project was decided.
In the poll, 55% of them voted for bailouts and 45% voted to dismantle the project and return the treasury to its holders. “The team’s duty is to carry out the will of the token holder. The vote is so close to 50/50 that there is only one way to move forward, it’s redemption/settlement, ” explained Sestagalli.
Proponents of the project emphasize a fragmented community. They are proposing to split the token allocation. Several alternatives have been created to save the project from failure. These include another ongoing discussion on the potential merger of Wonderland and Abra Cadabra, the DeFi lending protocol, and the revenue strategy generator. The price of Wonderland’s native TIME tokens has fallen by nearly 60% since the blunder last week began.
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