Prior to the reveal, Patryn – then working under the pseudonym “Sifu” – and Wonderland founder Daniele Sestagalli grew notorious for aggressively leveraging one of DeFi’s trendiest new tools: Protocol Controlled Value, or PCV. According to the Wonderland documentation, PCV is a term for “the amount of funds the treasury owns and controls,” and the Wonderland treasury currently manages in excess of $700 million, down from a peak well over $1 billion.
SEC Enforcement Against Wonderland Could Mean Trouble for DeFi
