TIME, the unstable decentralised reserve currency protocol’s coin, is only a ghost of its former self at today’s price of $105.54 (as of April 25), down from its peak of $14,000 in November last year. It has lost more than 99 per cent of its value since that all-time high. Michael Patrina is a convicted felon linked to one of the greatest cryptocurrency scandals, the defunct Canadian crypto exchange QuadrigaCX, which Bloomberg revealed in January.
Wonderland’s existence is now in jeopardy, and the disclosure has reignited the debate about how DeFi projects should be governed more broadly. Exiting the organisation, Sifu (his old handle) is said to have set up a new cryptocurrency using his old handle. So, what exactly is Wonderland? Why has the stock market lost interest in it so quickly? What’s the current situation? What is a reasonable price point?
In this post, we’ll look into the forecasters’ analysis and their price projections for the TIME coin, as well as the most recent Wonderland and market news, to help you prepare for investing in the currency.
Prediction of the Cost of Wonderland
Wonderland is a great place to bet and reap big rewards.
In the Avalanche blockchain, Wonderland is one of the first Olympus forks and a decentralised reserve currency protocol. Magic internet money and other liquidity tokens support its TIME crypto-currency token (MIM). Ethereum-based MIM tokens are connected to the Avalanche network via a bridge.
TIME is backed by the treasury, hence the protocol would purchase back and burn TIME when it is trading below 1 MIM. ” As a result, the price of TIME has risen to 1 MIM once again. It’s possible for TIME to constantly trade over 1 MIM because the protocol doesn’t impose any upper limit. In our opinion, we believe the actual price will always be 1 MIM + premium, however that is up to the market.
It is possible to mine TIME tokens by exchanging MIM or liquidity pool tokens for TIME tokens at a discounted rate after a predetermined length of time.
Stakeholders can earn compound interest by investing in Wonderland because of the high annual percentage yield (APY) it offers. At the time of this writing (25 April), the corporation had a $276.9 million treasury balance and an APY of approximately 77,000 per cent.
Investors are wondering if big profits are sustainable after seeing the APY. Over time, the yield may decrease. Holders can lose money if the price of TIME decreases more than the rate of their staking incentives.
Decentralized finance (DeFi) developer Daniele Sesta and an unnamed team developed Wonderland in September of 2021. Token holders make governance decisions concerning the protocol’s future development using a decentralised autonomous organisation (DAO) architecture. Abracadabra Money, established by Sesta, allows anyone to borrow money from MIM by pledging interest-bearing collateral.
As a long-term goal, TIME will be optimised for stability and consistency so that it can be used as a worldwide currency and unit of account. Their short-term goal is to maximise wealth generation and expansion through the use of this system.
Fantom Chain Went Operational in October, Allowing Users to Buy Staked Time Tokens (Wmemo Tokens) From the Avax-time Yield Farm
On the 12th of December, a blog post outlined the structure for corporate governance. Decentralized cryptocurrency betting platform bet swap. gg received an investment from the DAO on January 6. Wonderland has made its first investment in a new initiative at the seed stage. The DAO bought 2.096 billion BSGG tokens for $18.34 million.
Using the “complete Olympus DAO model/token economics” to distribute and raise funds, Sesta tweeted in October that Wonderland would soon have a launchpad for DAO creation and funding.
The Price of Time Has Dropped After a Quick Rise
According to the graph below, the TIME token’s value increased from $554 on September 2 to $9,993 on November 8 (the high point). At $7,447 on November 10, it returned to the $9,000 level, but on November 17, it broke beyond that level once more and rose as high as $9,856 before beginning its downward trend.
On 14 December, TIME hit a low of $2,757 and completed the year at $3,733, a gain of 574 per cent from its start. Despite this, the price has continued to fall, reaching an all-time low of $101 on April 25 with the cryptocurrency markets turning pessimistic.
Wonderland: What Is It?
According to Wonderland, it’s a stablecoin that is “non-pegged”. An underlying asset serves as a reference for stablecoins. Tether (USDT) is an example of a currency that is linked to the US dollar. It’s also worth mentioning that TIME isn’t tied to any certain currency. Because governments have the power to manipulate the value of the currency, Wonderland has decided against pegs. Instead, the value of each token is backed up by a treasury of several tokens.
Wonderland (Time) Is a Good Cryptocurrency to Buy?
In the Avalanche blockchain, Wonderland is one of the first Olympus forks and a decentralised reserve currency protocol. Stakeholders can earn compound interest by investing in Wonderland because of the high annual percentage yield (APY) it offers. Magic internet money and other liquidity tokens support its TIME crypto-currency token (MIM).
This idea was first put forth by the widely adopted DeFi protocol Olympus, which describes itself as a “decentralised reserve currency protocol that owns its own liquidity” in its white paper. The project’s fundamental goal is to establish a stablecoin that is not tied to any fiat currency, such as the U.S. dollar or any other currency. There are many ways that a reserve currency may work, but the most common is that it would be backed by a treasury of digital assets.
A lot of other factors come into play, such as the competition in the crypto market and how well it does shortly, but it looks good for the time being. Forecasters have predicted that the TIME coin price will rise in the future, but trading without a specific target and a backup is risky right now.
Because of the current market conditions, this cryptocurrency might yield both profits and losses. If you decide to trade, keep these considerations in mind.
Jonathan Herrod is a content writer who enjoys writing about technology, video games, and other topics. The author of informative articles that are well-researched and written with attention to detail has been writing professionally for nearly three years and specializes in the creation of well-researched and written attention to detail articles.