Wonderland

Wonderland is one of the most popular and most successful Olympus DAO forks. It was the first decentralized reserve currency protocol available on Avalanche. Each unit of TIME is backed by different reserve assets like Magic Internet Money and liquidity tokens. This mechanism, which was copied from OHM, ensures that TIME has an intrinsic value it cannot fall below.

Through a series of economic and game-theoretic dynamics, Wonderland aspires to build a policy-controlled currency system on the AVAX ecosystem. TIME becomes the ecosystem's unit-of-account and medium-of-exchange currency. The token's declared short-term goal is to optimize growth and weather creation. Instead of aspiring to reach a pegged value like an algorithmic stablecoin, TIME should, over time, reach a stable value backed by a basket of goods that does not include any fiat currency.

Although TIME was officially created by an anonymous team, it is closely aligned with Abracadabra.money, a lending platform using interest-bearing tokens to create Magic Internet Money, an algorithmic stablecoin. Abracadabra was founded by Daniele Sesta, an Italian web3 developer who also invented Popsicle Finance and is considered one of the most important developers in the DeFi space.

Although Wonderland does not have official partnerships with Olympus, the two protocols co-exist in a rivalrous and complementary way. On the one hand, Wonderland lured away many of Olympus' stakers by offering more attractive yields, yet OHM stakers can also borrow against their collateral on Abracadabra.money.

Even though Olympus sparked an abundance of forks that wanted to cash in on its mechanism to acquire protocol-controlled liquidity, Wonderland stands out as one of the first and, therefore, 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 consisting of MIM and various liquidity tokens. Were TIME to fall below its backed value, the treasury would buy back and burn TIME to push the price back above its floor. However, there is no upside limit to the price of TIME.

Individuals can choose between two different investment strategies: bonding and staking. Bonding equates to minting new TIME and buying it from the treasury for a discount. After a vesting period of five days, bonders can choose to stake their newly-acquired TIME or sell it on a secondary market. Bonding is an active investment strategy since new TIME is vested linearly over the 15 epochs, with each epoch consisting of eight hours. Bonders can decide after each epoch whether to stake or sell, depending on the price action.

Staking is a passive investment strategy that allows the accrual of TIME via auto-compounding. Each staked unit of TIME automatically increases every epoch (eight hours) based on the current APY. That way, stakers benefit from the expansion of TIME supply and keep their share of TIME constant relative to the total supply. Since the APY offered on staked TIME is close to 90,000%, stakers benefit from maximizing the time they stay staked and expanding their share of the entire supply. Therefore, the price of TIME is only of secondary importance, as the massive APY can outperform a falling price.

What Is Wonderland (TIME)?

Who Are the Founders of Wonderland?

What Makes Wonderland Unique?

What Is Wonderland (TIME)?

Wonderland is one of the most popular and most successful Olympus DAO forks. It was the first decentralized reserve currency protocol available on Avalanche. Each unit of TIME is backed by different reserve assets like Magic Internet Money and liquidity tokens. This mechanism, which was copied from OHM, ensures that TIME has an intrinsic value it cannot fall below.

Through a series of economic and game-theoretic dynamics, Wonderland aspires to build a policy-controlled currency system on the AVAX ecosystem. TIME becomes the ecosystem's unit-of-account and medium-of-exchange currency. The token's declared short-term goal is to optimize growth and weather creation. Instead of aspiring to reach a pegged value like an algorithmic stablecoin, TIME should, over time, reach a stable value backed by a basket of goods that does not include any fiat currency.

Who Are the Founders of Wonderland?

Although TIME was officially created by an anonymous team, it is closely aligned with Abracadabra.money, a lending platform using interest-bearing tokens to create Magic Internet Money, an algorithmic stablecoin. Abracadabra was founded by Daniele Sesta, an Italian web3 developer who also invented Popsicle Finance and is considered one of the most important developers in the DeFi space.

Although Wonderland does not have official partnerships with Olympus, the two protocols co-exist in a rivalrous and complementary way. On the one hand, Wonderland lured away many of Olympus' stakers by offering more attractive yields, yet OHM stakers can also 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 liquidity, Wonderland stands out as one of the first and, therefore, 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 consisting of MIM and various liquidity tokens. Were TIME to fall below its backed value, the treasury would buy back and burn TIME to push the price back above its floor. However, there is no upside limit to the price of TIME.

Individuals can choose between two different investment strategies: bonding and staking. Bonding equates to minting new TIME and buying it from the treasury for a discount. After a vesting period of five days, bonders can choose to stake their newly-acquired TIME or sell it on a secondary market. Bonding is an active investment strategy since new TIME is vested linearly over the 15 epochs, with each epoch consisting of eight hours. Bonders can decide after each epoch whether to stake or sell, depending on the price action.

Staking is a passive investment strategy that allows the accrual of TIME via auto-compounding. Each staked unit of TIME automatically increases every epoch (eight hours) based on the current APY. That way, stakers benefit from the expansion of TIME supply and keep their share of TIME constant relative to the total supply. Since the APY offered on staked TIME is close to 90,000%, stakers benefit from maximizing the time they stay staked and expanding their share of the entire supply. Therefore, the price of TIME is only of secondary importance, as the massive APY can outperform a falling price.