Popular DeFi protocol Wonderland approves a governance proposal to invest $25M in Sifu’s tokens which is a project by Wonderland’s former manager Michael Patryn aka 0xSifu.
After discovering Sifu’s involvement in one of the biggest crypto scams to ever happen, the QuadrigaCX scandal, the Wonderland DAO decided to vote Sifu out of his designated position in January. Patryn was one of the co-founders of QuadrigaCX along with Gerald Cotten.
After getting voted out, 0xSifu founded the cryptocurrency project Sifu’s Vision whose native token is $SIFU, with Patryn still being an active member of the Wonderland community.
The proposal to invest in Sifu’s Vision was issued by 0xSifu himself. It was approved with 321,000 TIME tokens in favor, which is 89.27 %, and 39,000 TIME tokens opposed, which is almost 10.37%.
0xSifu was the second most active voter, contributing 51,000 TIME tokens to the vote. This was sufficient to assure the proposal’s approval.
The voting started on June 24, at 7 PM till yesterday at 7 PM. Reportedly, the only utility of these Sifu tokens is to earn money.
These Sifu tokens will be deposited into a Sablier stream on the Ethereum blockchain and vested linearly over a 12-month period.
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This means that a percentage of the Sifu tokens are unlocked and put available for sale every block for a year.
