Community of Wonderland approves spending $25 million on ex-treasury manager tokens.
The community of Wonderland has agreed to buy Sifu Vision tokens worth $ 25 million. This comes months after Sifu was forced to resign as director of the Wonderland Treasury because of his criminal past. DeFi Protocol approved the management plan to invest in Sifu Vision with 89% of the votes. $ 25 million in over-the-counter (OTC) token purchases. With this purchase, the community of Wonderland will receive more than half of the market capitalization of the Sifu Vision token, which currently stands at $ 42 million. Tokens are issued online for 12 months using a sales flow. Sifo submitted this proposal and is the second active voter in this project. It issued 51,000 TIME tokens to the 321,000 TIME tokens (89.27%) who voted in favor of the proposal. 39,000 TIME tokens (10.37%) voted against the plan.
The TIME token traded between $ 33 and $ 25 during the voting week, meaning Sipho spent about $ 1.7 million to get enough votes to buy $ 25 million. This could be Sifu’s attempt to return to Wonderland after being expelled earlier. He said the new token is part of his original vision for Wonderland. According to him, this is an opportunity to realize this vision “without a conflict of interest and the DAO.”0xSifu is the former Treasurer of Wonderland DAO. Patrin has a complicated history that includes convictions for identity fraud and co-founded QuadrigaCX. Crypto exchange in Canada lost more than $ 160 million after the disappearance of its co-founder Gerald Cotton. The revelation led to Sifu Wonderland being expelled from The DAO, but he remained active in the crypto space. Sifu Token is his newest venture, which aims to make money, according to the website.