Wonderland TIME (TIME) Live Price

What Is Wonderland (TIME)?

The Wonderland project is the first decentralized reserve currency protocol available over the Avalanche Blockchain. It is backed by assets in its treasury, operating to develop a policy-controlled currency system native to the AVAX ecosystem.

Initially operating over a borrowed framework from Olympus DAO, the project’s primary aim is to achieve price stability without fiat money. Instead, Wonderland intends to introduce a crypto-backed stablecoin protected by its treasury.

‘TIME’ is the native token used as a medium of exchange and a global unit of account. The token envisions reaching a stable value via a basket of goods that don’t include fiat currency.

Who Found Wonderland (TIME)?

There’s not much into the history of the Wonderland protocol. It was launched by Web3 developer Daniele Sesta and an anonymous team in September 2021. Besides Sesta, the team behind this decentralized reserve currency protocol is primarily anonymous.

But the protocol later adopted a DAO (Decentralized Autonomous Organisation) model. Currently, governance decisions over the protocol are made via smart contracts. 

More importantly, Wonderland is also closely aligned with Abracadabra.money, adding to the list of decision makers for the protocol. 

Who Are the Founders of Wonderland?

Mentioning the founders of the Wonderland protocol would be speculation. The project was created by a team that remains largely anonymous to date. However, apart from the team, Daniele Sesta, an Italian web3 developer, launched the protocol.

Since Sesta was also the brain behind Abracadabra.com, an interest-bearing lending platform, Wonderland is speculated to have close ties with the platform.

Other speculations around the ownership involve Olympus. Although the Wonderland protocol has no official collaboration with Olympus, the two protocols are majorly competitive and complementary. 

Few also suggest that Wonderland was found by the joint efforts of DeFi experts from Olympus and Abracadabra.com.

How Are New Wonderland (TIME) Tokens Created?

Minting and staking are the two primary forms of creating TIME tokens. Users of the protocol can stake their TIME tokens to earn rebase rewards and more tokens. 

The protocol generates rebase rewards by increasing the staked TIME balance. Therefore, this reward can vary based on the rewards rate and the number of TIME staked in the protocol.

In addition, following the traditional procedure, TIME is locked once put to stake. In return, investors receive an equivalent amount of MEMOries (staked TIME) which can be transferred or composed over other DeFi protocols. On the contrary, MEMOries burn to give you an equal amount of TIME tokens upon unstaking.

They provide MIM or LP tokens for minters to receive discounted TIME tokens. While minting, users sell their tokens to purchase a bond protocol, ensuring them a future trade facility. Ultimately, they receive a return in TIME. 

This way, while staking adds more TIME tokens over the Wonderland protocol via auto-compounding, minting adds liquidity.

Besides that, Wonderland comprises protocol-owned liquidity, protocol-managed treasury, minting, and high staking rewards. 

What Makes Wonderland Unique?

Several aspects make Wonderland unique. For starters, it stands out as the first decentralized reserve currency protocol with the most successful forks of its original protocol. 

Another unique aspect of the protocol is its TIME token. The coin maintains a stable value via a basket of goods that doesn’t include fiat currency. If the token falls below its backed value, the protocol uses its treasury to buy back and burn TIME. 

Other unique elements of the protocol include bonding and staking. Both policies provide reliable returns to the users. 

How Is the Wonderland Network Secured?

Since the project was launched on Avalanche, Wonderland leverages the security features of its ecosystem. Avalanche’s consensus mechanism acts as a proof-of-work (PoW) or proof-of-stake (PoS). 

Transactions over the protocol are ensured via nodes, validating transactions with validators' simultaneous random polling. This way, the platform ensures that the transactions are statistically correct.