It’s no secret that Defi is here to stay and is improving faster than a white rabbit running away from some murderous playing cards. But Defi isn’t just an Ethereum game. It’s spread out all across the cryptoverse with robust and innovative products on several blockchains from Solana, Binance Smart Chain and most recently Avalanche. The gains are amazing and really give your portfolio a boost. But there is one defi project that is sitting on a tree branch, grinning from ear to ear; looking down at all the others. It’s coins go by the name of TIME, MEMORY and MIM which stands for Magic Internet Money. But before you pull out your vorpal blade against a rug pull…take a minute and look at the contract, the DAO behind these tokens and most importantly…the returns. 90,000 % APY. In this video we look into the looking glass of WONDERLAND.
Lets get it!
Welcome to BitBoy Crypto. Home of the Bitsquad, the largest crypto community in all of the interwebs. My name is Ben. Every day on this channel I show YOU how to MAKE MONEY in Crypto. If you like money and crypto then make sure to hit that subscribe button. If you wanna go deeper into crypto, make sure to check out bitlabacademy.com. In this video, we look at the whimsical Avalanche Defi project called WONDERLAND.
I’ll get straight to the point. Wonderland is making a name for itself by offering an insane returns on staking as well as minting At the time of this recording the return for staking TIME on Wonderland is 83,368%.
While that sinks in let’s take a look at what Wonderland is and it’s history. Wonderland is a fork of Olympus. Olympus is an algorithmic stablecoin based on Ethereum. It’s developed entirely as a DAO and is fully anonymous. The history of both Olympus and Wonderland is very short as they’ve only been around since this year, so keep that in mind before putting your life savings into a project with the Chesire cat on it. The goal of both Olympus and Wonderland is to become reserve currencies on their respective chains. Wonderland is the first decentralized reserve currency on Avalanche. It’s based on it’s native TIME token. TIME is backed by various tokens in the Wonderland treasury giving it value that it cannot fall below. One thing that Wonderland has going for it is it’s fully transparent contracts, whitepaper and code repository. Wonderland also has ALL of it’s Staking, Minting, Supply and Backing equations in it’s white paper in as plain of English as possible. It’s also partnered with Abracadabra.money lending platform to give not just more liquidity to the project but also the network affect of working with other projects. The real magic of Wonderland is that it’s based on game theory to maximize the profit potential of everyone involved.
Those ideas are represented by Hatter Hats and Tea Pots. Boiled down to it’s simplest form, commerce is an exchange between two willing parties. S othe wonderland team has game theoried this out into a handy graph and a token mechanic that rewards actions for making the value of the ecosystem go up. It’s the prisoners dilemma but for finance. Maximum benefit moves are represented by the Mad Hatter Hat where as moves with partial benefit are the Tea Pots. Price goes down when a user pulls their profits out of Wonderland so that is shown as an X. One party selling their assets in Wonderland is off set by another have the opportunity to make some additions to the project at a discount via the LP tokens and minting TIME tokens. Minting TIME is called liquidity minting. Minting helps the protocol accumulate and lock liquidity.
So the returns and the ecosystem is unique, but let’s look at the token prices. The TIME token has had a typical trajectory compared to other finance coins. High price with a low market cap. The earliest recorded price is $560 for a TIME coin and from there it’s been a steady climb up to a staggering $8731
Compare that to Yearn finance and it’s YFi token which has hovered around 30k for the whole year. Beefy Finance also has an expensive token that comes in at $1130. Now let’s look at OHM. The Olympus token runs on Ethereum and uses DAI, USDC and other stable coins as a backing..but the value of OHM is not pegged to the dollar. Technically 1 OHM is worth 1 DAI but a premium and the treasury value of Olympus is added to the price. OHM is different than algorithmic stablecoins like Ampleforth because it mints OHM to buy DAI and other assets to maintain it’s treasury. This subtle change to value and stablecoin value is on of the wonder of Defi. All of this mythic value potential is the same for the hookah smoking caterpillars in Wonderland since Wonderland is a fork of Olympus. Folks in the office have been using Wonderland for the past week and the difference and speed of getting your tokens and LP tokens minted on an Avalanche based Defi product is as easy as a cup of Earl Grey instead of the Mad Hatters Tea Party like you find on Ethereum or Binance Smart Chain. The value of Wonderland has backed by over 200 million dollars in assets as of this recording with the treasury and the TVL growing by the day.
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It’s worth pointing out that one of the founders of Wonderland, Daniele, has a presence on Twitter and has done various interviews including a 2 hour talk with Frog Radio. Daniele is a self described Bitcoin Maxi…but he’s also a fan of making money and more importantly, disrupting the old financial system. Daniele wants to innovate in Defi so that there are plenty of options for people across the world to take control of their own money.
But if you want some real alpha, perk up your rabbit ears. Wonderland is getting into gaming. The founder Daniele tweeted out this image. They are taking the value ecosystem of Wonderland and are investing into NFTs and Blockchain gaming. That would be the best thing for decentralized metaverse and Defi. The potential of a metverse that is run as a DAO, and fueled by the defi of Wonderland…could be truly disruptive far beyond blockchain and could be the piece of Cake that makes financial freedom go parabolic.
That’s all I got. Be Blessed. Bitboy Out.
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