Sifu Vision tokens will be purchased for $25 million by the Wonderland community. This month after Sifu was forced to resign as Wonderland’s treasury manager due to his criminal background.
The management offer to invest in Sifu Vision was approved by the DeFi protocol with 89% of the vote. Wonderland Community will now own more than half of the Sifu Vision token share value, which is currently $42 million.
The tokens will be vested in a Sablier stream over the course of 12 months. Sifu submitted the proposal and was the proposal’s second-most active voter. He contributed 51,000 TIME tokens to the proposal’s 321,000 TIME tokens (89.27 percent).
TIME token traded between $33 and $25 during the voting week, suggesting that Sifu spent around $1.7 million to secure enough votes for the $25 million purchase.
“Continued benefits from management and communications by Sifu, using a small portion of the treasury. Expectation of profits through this partnership with your founder.”
This could be Sifu’s attempt to re-enter Wonderland after being expelled previously. According to him, this is an opportunity to continue that vision “without the friction of conflict of interest and DAO.”
To read our blog on “Wonderland invests $25 million in the new Sifu project,” click here
