Decentralized finance protocol Wonderland has announced that it is shutting down, according to co-founder Daniele Sestagalli.
Wonderland’s token has plunged more than 97% over the past 24 hours. It has now shed more than 10.43% from its all-time high. Wonderland was launched as an Avalanche-based clone of reserve currency protocol OlympusDAO last September. Members of its community refer to themselves as “frogs.”
The blockchain project 0xSifu has become the talk of the town after it was revealed that its co-founder, Michael Patryn, is the convicted criminal behind QuadrigaCX. He served 18 months in jail in the U.S. after helping to run an identity theft ring called Shadowcrew in the 2000s.
Omar Patryn, who is also known as 0xSifu, was a young exchange owner who made it big in the crypto industry in 2019. However, his real identity was revealed, and he was later charged with operating a Ponzi scheme.
The community voted to replace 0xSifu and to appoint a new treasury manager.
The project is being asked to shut down and give the treasury back to the community.
In a tweet, Sestagalli claims that the community is clearly divided. The decision to discontinue Wonderland attracted criticism since people who were in favor of saving the project had a significant lead over the other camp.
Featured photo source picjumbo.com
