What is Wonderland?
Wonderland is a cryptocurrency project that operates on the Avalanche network. Wonderland describes itself as a stablecoin that is not pegged. Unlike traditional stablecoins such as Tether (USDT), which are pegged to fiat currencies (USD), Wonderland is backed by a treasury. This means that each TIME token is pegged to a basket of cryptocurrencies helping its value stay consistent and not fall below a certain price.
How does Wonderland work?
Wonderland is a Defi project that operates on the Avalance blockchain. Like the Ethereum blockchain, Avalanche operates a proof of stake consensus algorithm. Validators on the Avalance chain verify all transactions on the Wonderland network. For their work in verifying transactions, validators are rewarded with tokens.
How is the Wonderland network secured?
Wonderland is secured by the blockchain it runs on. The project was built on the Avalance blockchain, which uses a proof of stake model (PoS). Wonderland is secured through validators, which are other users on the network verifying transactions. The Avalance blockchain has the highest number of validators who are rewarded with tokens for securing, verifying, and validating transactions.
What is Wonderland used for?
The Wonderland project was originally started as an alternative to stablecoins. Traditional stablecoins are pegged to fiat currencies, usually the US dollar. Wonderland is also a stablecoin, but rather than being pegged to a fiat currency, every one of its tokens is backed by a treasury, which is made up of various cryptocurrencies.
Wonderland is a Defi network which allows users of the platform to participate in several decentralised financial services. It is focused on venture capital investments and maximising yield strategies. TIME’s high staking APY fluctuates but has risen as high as 88,000%.
Why does TIME have value?
Its value comes from its high staking APY and treasury backing. Traditional stablecoins are linked to the US dollar. This can make them susceptible to a lack of volatility and depreciation. TIME uses treasuries (baskets of different cryptocurrencies) to back up its token. This makes it much more stable in volatile conditions and has better growth prospects. Expert traders chosen by the community select coins in the treasury. Its APY has already risen to a staggering 88,000%, making it an attractive option for yield farmers.
Who created Wonderland?
The team behind Wonderland remains largely anonymous. However, its lead developer and founder is Daniele Sestagalli. Based in Switzerland, he is also the founder and CEO of Popsicle Finance (ICE) and Abracadabra (MIM).
Where can I buy Wonderland?
You can buy Wonderland on a decentralised crypto exchange. A decentralised exchange (DEX) is a platform where you can swap one cryptocurrency for another.
To use a DEX, you need to own some cryptocurrency already. You can get this from a crypto exchange. You must also have your dedicated crypto wallet that you can use to transfer money to a DEX.
Are there any other ways to invest in Wonderland?
The simplest way to invest in Wonderland is to buy it outright. However, another option is to simply open a crypto account. Crypto accounts are like regular bank accounts and allow you to store a variety of currencies, send and receive payments, earn interest on savings, and spend freely with a credit card.
You can also invest in crypto more generally through a crypto ETF or a crypto fund. These are financial instruments that give you exposure to a group of leading cryptocurrencies, more suited to high net worth individuals.
More about the TIME price
What is the Wonderland price today?
The TIME price is currently $17.05, as of October 2022. The price of Wonderland is down 93% in 2022. You can use the live Wonderland chart to track the TIME/USD price in real time above, or compare the Wonderland value today to its past performance using the Wonderland price history tab at the top of this page.
What is the price prediction for Wonderland?
The average Wonderland price prediction values the coin at $20 by the end of 2022. Things like the economic climate, establishment support and acceptance, and the crypto market as a whole can all have an impact on the price.
It’s best to take predictions with a grain of salt but you can use expert estimates to help you understand the weight of opinion about a coin.
What is the total supply of TIME?
The circulating supply is 900,255 TIME, out of a total maximum supply of 51,970,826 TIME.
Are there any Wonderland alternatives?
There are lots of Wonderland alternatives and many cryptocurrencies offer something similar to it. Wonderland is not as popular as other stablecoins although it does offer a different approach. Here is a selection of Wonderland alternatives.
- Tether. Tether is the best-known stablecoin and is pegged to the USD.
- Binance USD. BUSD was launched by the team behind Binance and can be used on the platform to benefit from zero fees.
- USD coin. USD coin is the second largest stablecoin and is pegged to the Dollar.
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In January 2022, Wonderland was involved in a major scandal that rocked its price. 0xSifu, an anonymous team member, was uncovered to be Michael Patryn.
Patryn is a convicted criminal who had pleaded guilty to numerous charges, including credit and bank fraud, burglary, computer fraud, and grand larceny.
He also co-founded Quadriga Fintech Solutions, which owned the QuadrigaCX exchange. The exchange was a Ponzi scheme that stole hundreds of millions of dollars from its users.
Patryn parted ways with Wonderland; however, investors in the project sold heavily, and its price plummeted.
Latest Wonderland news
Recent Wonderland price analysis
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