The DARK Truth About Wonderland Time

The DARK Truth About Wonderland Time

The DARK Truth About Wonderland Time

A look into the dark truth of Wonderland $TIME.. The scandal from the rise to the fall | Is this the BIGGEST DeFi Crypto Scam of 2022? TIME has dropped 95% from all-time high price. What will the FROGS do next?
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Wonderland’s TIME tokens fell 32% in European hours after blockchain sleuths revealed "Sifu," a core member of the founding team, is allegedly a long-time serial scammer, with a conviction and deportation on his record. He was also the co-founder of QuadrigaCX, a failed Canadian cryptocurrency exchange. Avalanche-based Wonderland has been among the most popular crypto protocols in recent months, with community members referring to themselves as the “Frog Nation.” The protocol locked up billions of dollars of investor funds at its peak, but confidence was rattled among investors Thursday morning. What Is Wonderland (TIME)? Wonderland was 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.
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