Wonderland (TIME): What is it?

The Wonderland protocol uses the TIME token as a native decentralized reserve currency on the Avalanche Network. As a result of being backed by a basket of assets in the Wonderland treasury (i.e., MIM, TIME-AVAX LP tokens, for example), time tokens will never plummet in value. By introducing staking and bonding into the market, Wonderland also introduces economics and game theory to the market. 

Goal:

This project aims to build a policy-controlled currency system, running on the AVAX blockchain, where the behavior of the token is controlled! They believe that this system can optimize for stability and consistency in the long run so that TIME will serve as an international medium of account and exchange. Our short-term goal is to optimize the system for the growth and creation of wealth.

A representative basket of goods will be priced flat without using fiat currency, thus enabling the cryptocurrency sector to break free from traditional finance once and for all!

Founders:

The Avalanche Network offers a fork of Olympus called Wonderland. Avalanche Network was born from DeFi Community, a mostly anonymous community. A decentralized Autonomous Organization is our ambition, and we are actively pursuing that goal.

We expect to transform this into a DAO-governed model as soon as possible, but most of the decisions are taken by the core team at present.

Staking:

Wonderland’s primary value accumulation strategy is staking. The Wonderland Website rewards stakers with rebase rewards based on their TIME token stake. Bond sales earn rebase rewards, and these rewards might differ based on how many TIME were staked in the protocol and what the reward rate was.

Passive, long-term staking is an investment strategy. You will see a downward trend in your cost basis as your stake in TIME increases. The rise in your staked TIME balance should eventually outpace any fall in the market price of TIME even if the price of TIME falls below your initial purchase price.

Minting:

Minting is the better term to describe the actions users take when they buy TIME with different assets, according to Wonderland. To do so, you will need to go to the “Mint” page of the website. This will allow you to sell your assets with discounted TIME tokens. Minting Actions are the same as Bond Purchases on Olympus DAO, despite the name difference!

Benefits from Wonderland:

Supply growth is the main benefit for stakeholders. TIME tokens are created by the protocol and deposited in the treasury, with the majority going to the stakers. Stakeholders’ gains will be derived from their auto-compounding balances, though price exposure will still be important. Token stakers would make a profit if an increase in token balance outstripped inflation-related price declines.

Bonders are primarily benefitted from price consistency. The bonder commits capital upfront and receives a fixed return upon maturity; the return is given in TIME tokens so that the bonder’s profit depends on the TIME price upon maturity. The rise or stagnation in the TIME token price is beneficial to bonders!

Buying TIME token:

In contrast to other major cryptocurrencies, TIME cannot be directly purchased with fiat money, although it is listed on several crypto exchanges. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT, BNB from any large exchange and then transferring to the exchange that offers to trade this coin. 

To purchase a major cryptocurrency, you must first purchase either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), or Binance (BNB).

Is it LEGIT?

It is not possible to determine if Wonderland is a scam at this time. It doesn’t necessarily matter that it’s a fork of OlympusDAO. An Avalanche blockchain project of a similar type has now become available, so this can be a positive development. Take a look at these points.

1. As for OlympusDAO, we know little about it, and we know even less about Wonderland’s creator(s). Moreover, since it is a fork, it won’t require much programming skill to run, since most of the coding is already done. Currently, Wonderland’s Discord channel has 1200 members, while OlympusDAO’s Discord channel alone has over 20,000 members. In light of Wonderland’s recent launch and OlympusDAO’s five-year history, this may not mean anything, but it is still valuable to know about. However, we don’t know who is behind Wonderland, and that is very concerning! We wouldn’t know who to look for if someone left with money one day!
2. The tokens can be unstaked at any time and the fees are very low. As a result, you can easily unstake the whole project tomorrow and leave it completely if you start staking now. You don’t lock up your tokens for any specific time. This is great!
3. Is this a scam or a bad deal just because it sounds too good to be true? Not necessarily… but we should be cautious!
4. The project would gain greater credibility if some other big players in the cryptoworld spoke and endorsed it. However, it remains just another fork within a forked project.