Sifu Launches Own Token After Being Forced Out of Wonderland

Recently ousted treasury manager of Wonderland DAO, 0xSifu, has launched a new token named after himself. 

On February 18, he deployed one million eponymous SIFU tokens into Uniswap V3 pool and paired it with Ethereum. 

Sifu Forced out of Wonderland

Sifu was the treasury manager of Wonderland and worked closely with the Frog nation founder, Daniele Sestagalli. 

However, the community was alerted that Sifu was Michael Patryn, the cofounder of the failed Quadriga exchange, where the other cofounder, Gerry Cotten, disappeared with almost $200 million in investors funds. 

Although Sifu claimed not to be involved in this, he was previously convicted of credit card fraud in 2004 and spent some months in prison.

The news of his identity led to panic for the DAO and other Sestagalli projects. Many people blamed Sestagalli for hiding such crucial information from DAO members. Eventually, more than 80% voted that Sifu should be off the project.

Launches own Token

By launching his eponymous token, Sifu shows that he has put what happened at Wonderland behind him. He recently announced that he wouldn’t go back to Wonderland. 

According to available data on Etherscan, there are currently around 192 holders of the token, and it currently trades for around $99.

am i seeing this correctly? @zachxbt bought some of @0xSifu 's token? https://t.co/W0qgFKvY7y

— Tiger (@Tiger_Bark) February 19, 2022

Interestingly, one of the wallets that bought the token is associated with Zachxbt, the whistleblower who revealed his previous anonymous identity.

Other notable information about holders shows that Sifu himself holds 49,000 of the tokens while one trader spent almost $500,000 to buy 4,835 SIFU tokens.

Crypto Community “Skeptical” About SIFU

While some are buying into the new token, some are still skeptical about his involvement in a DeFi project, given his past. He has challenged those people to prove that he was guilty of any fraudulent activity while at Wonderland. 

According to him, he has “paid his debt to society,” and his past no longer represents what he stands for.

Presently, there’s no information on the purpose or function of the SIFU token. Clearly, those buying it do so based on Sifu’s reputation alone. Sifu is a verifiable whale with a public wallet balance of around $146 million. 

For some, this is enough proof that this new venture wasn’t motivated by money.