How does the Sifu scandal affect Wonderland in Crypto?

Asked 2 years ago

Hi all. I'm just wanting to know if the scandal will actually impact the world of DeFi in years to come? What are your predictions?

Philip Burns

Tuesday, February 22, 2022

The Daniele and Sifu saga created a breach of trust in the TIME Wonderland ecosystem, causing mass panic and a mass sell-off, tanking the price of the platform's rebase token, MEMO. This lack of confidence in Wonderland might spiral into other DAO protocols, especially those that work with anonymous teams.

In the future, we may see newer DAOs take a more transparent approach by working with fully doxxed teams to build trust amongst their users. If they are competent in managing their treasury and paying out dividends to their participants, these DAOs may become very successful compared to their anonymous counterparts.

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