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Wonderland

TIME

3.1

Price
$13.54
10/1/2022, 2:04:54 AM
diamondHands

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Market

Market stats

Market cap

-

Volume (24h)

$38,435.67

Circulating supply

-

All time high

$14,185.38

Price change (1h)

+2.06%

Price change (24h)

-49.28%

Price change (7d)

-31.32%

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Wonderland is on the decline this week.

The price of Wonderland has fallen by 31.32% in the past 7 days. The price declined by 49.28% in the last 24 hours. In just the past hour, the price grew by 2.06%. The current price is $13.536792 per TIME. Wonderland is 99.90% below the all time high of $14,185.38.

The current circulating supply is 0 TIME.

About

What Is Wonderland (TIME)?

Wonderland (TIME) is a popular fork of Olympus that operates on the network of Avalanche. The platform claims to be the first decentralized reserve currency protocol. The native token of Wonderland is TIME.

Wonderland (TIME) aims to develop a policy-controlled currency system on the Avalanche (AVAX) network. The long-run objective of the platform is to build an infrastructure that promotes stability and consistency on the AVAX platform using TIME tokens. At the same time, the short-time objective of the token is to generate wealth in the community by using the TIME token as the medium of exchange.  

Besides, the Wonderland (TIME) platform was introduced in the environment to observe that users are more comfortable with dollar-pegged stablecoins. Pegged cryptocurrency is a digital medium of exchange supported by another currency. The value of this currency is tied to other mediums of exchange like gold or the currency of any nation. Dollar-pegged stablecoins were majorly used due to the lack of volatility in the dollar compared with other coins. However, the drawback with dollar-pegged stablecoins was that with the depreciation in the dollar, there would be depreciation of these stablecoins as well.

As a result, Wonderland (TIME) emerged in the market to create a non-pegged stablecoin called TIME. Regardless of market volatility, the TIME token focuses on supply growth and functions as a currency that holds its purchasing power. Non-pegged stablecoin allows the TIME token to be backed up by a basket of currencies rather than just one asset or currency. 

In addition, each TIME token is supported by a bunch of assets like MIM, TIME-AVAX LP Tokens, etc. in the Wonderland (TIME) treasury. This supports the token from facing downfall and gives an intrinsic value. The treasury system is a decentralized and community-controlled decision-making mechanism for sustainable funding in the community.

Furthermore, the TIME token is backed by 1 MIM (Magic Internet Money). However, when TIME trades below 1 MIM, the protocol will buy back and burn the TIME token. The burning mechanism in crypto refers to sending an unusable token into an unusable account. The buyback in cryptocurrency is a tool that stimulates the price of the tokens. The mechanism works by buying the tokens from the community and storing them in the wallet.

Who Founded Wonderland (TIME)?

The team of Wonderland protocol is mostly anonymous. The core team makes most of the decisions, although the plan is to move into a DAO-governed model as soon as possible. DAOs, or decentralized autonomous organizations, are internet-based organizations that operate using smart contracts. Furthermore, Wonderland is closely aligned with Abracadabra.money, which is a lending platform and uses the interest-bearing token to create Magic Internet Money.

How Are New Wonderland (TIME) Tokens Created?

Wonderland consists of the protocol-managed treasury, protocol-owned liquidity, minting, and high staking rewards. There are two strategies that users can take to participate in the Wonderland market: staking and minting (bonding). Minting is the process in blockchain to validate information, create a new block, and record this information into the blockchain. 

Users stake their TIME tokens in return for more TIME tokens and to earn rebase rewards. Rebase rewards are the process through which your staked TIME balance increases automatically. These rebase rewards can vary based on the number of TIME staked in the protocol and the reward rate set by monetary policy.

Additionally, when you stake, TIME is locked, and you will receive an equal amount of MEMOries (staked TIME). MEMOries are transferable and can be composable with other DeFi protocols. On the contrary, when you unstake, you burn memories and receive an equal amount of TIME tokens.

Staking allows users to earn TIME through auto-compounding. New TIME tokens are minted from the treasury, most distributed to the stakers. If the increase in token balance overcomes the potential drop in price, stakers can attain a profit. Thus, the gain of stakers will come through auto-compounding balances.

On the other hand, minters provide LP tokens or MIM tokens in exchange for discounted TIME tokens. The main benefit of minters comes through price consistency. While users mint the TIME token, they sell the tokens to buy a bond from the protocol. A bond provides a future trade facility to the user on the protocol on a specific date.

The minter is given a return in the form of a TIME token. Thus the minter’s profit will depend on the price of TIME at the time the minted TIME matures. Minting is a cross between a fixed income product, a futures contract, and an option. Wonderland accumulates liquidity by allowing users to purchase bonds through minting. This liquidity is known as POL (proof of liquidity).

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FAQ

What is the current price of Wonderland?

The price of 1 Wonderland currently costs $13.54.

What is the market cap of Wonderland?

The current market cap of Wonderland is $0.00. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Wonderland?

The all-time high of Wonderland is $14,185.38. This all-time high is highest price paid for Wonderland since it was launched.

What is the 24 hour trading volume of Wonderland?

Over the last 24 hours, the trading volume of Wonderland is $38.44K.

What other assets are similar to Wonderland?

Assets that have a similar market cap to Wonderland include KonPay, VentiSwap Token, Orange, and many others. To see a full list, see our comparable market cap assets.

How many Wonderland are there?

The current circulating supply of Wonderland is 0.

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