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What Is Wonderland (TIME)?

Wonderland is one of the most popular and most successful Olympus DAO forks. It was the first decentralized military reserve currency protocol available on Avalanche. Each unit of TIME is backed by unlike reserve assets like Magic Internet Money and liquid tokens. This mechanism, which was copied from OHM, ensures that TIME has an intrinsic rate it can not fall below. Through a series of economic and game-theoretic dynamics, Wonderland aspires to build a policy-controlled currency arrangement on the AVAX ecosystem. TIME becomes the ecosystem ‘s unit-of-account and medium-of-exchange currency. The token ‘s declare short-run goal is to optimize growth and upwind creation. rather of aspiring to reach a peg measure like an algorithmic stablecoin, TIME should, over meter, reach a stable value backed by a basket of goods that does not include any decree currentness .

Who Are the Founders of Wonderland?

Although TIME was formally created by an anonymous team, it is closely aligned with Abracadabra.money, a lend platform using interest-bearing tokens to create Magic Internet Money, an algorithmic stablecoin. Abracadabra was founded by Daniele Sesta, an italian web3 developer who besides invented Popsicle Finance and is considered one of the most important developers in the DeFi distance. Although Wonderland does not have official partnerships with Olympus, the two protocols co-exist in a emulous and complementary way. On the one handwriting, Wonderland lured aside many of Olympus ‘ stakers by offering more attractive yields, yet OHM stakers can besides borrow against their collateral on Abracadabra.money.

What Makes Wonderland Unique?

even though Olympus sparked an abundance of forks that wanted to cash in on its mechanism to acquire protocol-controlled liquid, Wonderland stands out as one of the first and, consequently, one of the most successful forks of the original protocol. The basic mechanism utilized by Wonderland is identical to that of Olympus. Each unit of TIME is backed by a treasury dwell of MIM and assorted fluidity tokens. be TIME to fall below its second value, the treasury would buy spinal column and burn TIME to push the price bet on above its floor. however, there is no top limit to the price of TIME. Individuals can choose between two different investment strategies : bonding and stake. Bonding equates to minting new TIME and buying it from the treasury for a rebate. After a invest period of five days, bonders can choose to impale their newly-acquired TIME or sell it on a secondary market. Bonding is an active investment scheme since new TIME is invest linearly over the 15 epochs, with each epoch consisting of eight hours. Bonders can decide after each era whether to venture or sell, depending on the monetary value legal action. Staking is a passive investment scheme that allows the accumulation of TIME via auto-compounding. Each staked unit of TIME automatically increases every epoch ( eight hours ) based on the current APY. That manner, stakers benefit from the expansion of TIME add and keep their share of TIME constant relative to the total add. Since the APY offered on impale TIME is conclude to 90,000 %, stakers benefit from maximizing the time they stay staked and expanding their share of the entire issue. consequently, the price of TIME is alone of secondary importance, as the massive APY can outperform a falling price .

Check out Klima DAO ( KLIMA ) — an environment-themed OHM fork.

Check out Snowbank ( SB ) — an OHM branching on the Avalanch blockchain. Read our deep dive into Olympus DAO. Get the latest crypto news and latest trade insights with the CoinMarketCap web log .

How Many Wonderland (TIME) Coins Are There in Circulation?

The sum provide of TIME has no cap, as TIME aspires to reach a stable evaluation in the long term. presently, each unit of TIME is backed by approximately $ 1,700 of modesty assets in the treasury. The treasury balance of Wonderland is just brusque of $ 700 million, with a runway of about 400 days. That means Wonderland could pay staking rewards for 400 days even if it has no modern gross coming in through acquiring reserve assets via adhere.

The total value locked of Wonderland is the biggest of any Olympus DAO fork and stands at over $ 1 billion .

How Is the Wonderland Network Secured?

Wonderland launched on Avalanche. The Avalanche consensus mechanism is distinct from proof-of-stake or proof-of-work since it does not have one leader serve transactions that others validate. alternatively, nodes process and validate transactions simultaneously, with validators ‘ random polling ensuring that transactions are discipline with statistical certainty. consequently, near-immediate finalization can be achieved, significantly improving the blockchain ‘s accelerate .

Where Can You Buy Wonderland (TIME)?

TIME is available on Gate.io, Pangolin and TraderJoe .

reference : https://ontopwiki.com
Category : Finance

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