What is Wonderland (TIME)?
TIME is the native token of Wonderland, which is an Avalanche-based reserve currency protocol. Though Wonderland was forked from Olympus, which is an Ethereum-based reserve currency protocol. However, note that Wonderland and Olympus function independently. Check out the Wonderland price chart above if you want to see the current TIME price.
Wonderland attempts to change the notion of "stablecoin" by developing a stablecoin backed by a basket of crypto assets and secured by a treasury of its own. Such tokens would operate in a market where the expansion of the cryptocurrency sector is not dependent on the use of fiat money. The intention of this feature is to completely break the connection between the crypto industry and traditional finance.
The platform has a dual-token ecosystem. Apart from the aforementioned TIME token, it also has MEMO tokens. MEMO is a token that is mostly used for staking. There is also a wrapped version of MEMO tokens (wMEMO), which can be used across other DeFi protocols.
Who Founded Wonderland?
The founders of Wonderland are anonymous. However, it is known that Wonderland has a close connection with the Abracadabra.money project.
The Wonderland team selected a DAO as the model for governing the project in an effort to use voting to address the issues that might arise. The amount of staker rewards, the proportion of assets held in the treasury, and other issues are up for voting by the members of the Wonderland community.
What is the TIME Token?
TIME is a non-pegged currency that is backed by a treasury of different assets. It may be mistaken for a stablecoin due to its technical characteristics, but it is actually not a stablecoin. Instead, it is an algorithmic reserve currency.
TIME tokens can be staked to receive rewards. By staking, users receive more TIME tokens through auto-compounding, rebase rewards, and MEMO tokens.
Besides staking, the TIME token is also used for minting/bonding. The main advantage of minters is their ability to maintain stable prices. While the TIME token is being minted, users can purchase bonds from the protocol by selling their tokens. A bond offers the user a future trade facility on the protocol that is set to a particular date. The main reason Wonderland allows minters to purchase bonds while minting is to generate liquidity. Besides, as TIME tokens are provided to minters as payment, the minter's profit is based on the TIME price.
Interested in buying Wonderland crypto assets? Don't forget to analyze the Wonderland price chart before making any purchasing decisions.
