Want to jump straight to the answer? You can buy TIME by buying AVAX on Coinbase and swapping it for TIME on the Trader Joe DEX.
Perhaps the largest and most adoptable use of crypto is as a medium of exchange. You can pay your friends, buy things from stores and gamble using crypto. Wonderland (TIME) is a unique project hoping to change the way crypto can be used as a medium of exchange through decentralized programs within Avalanche blockchain's ecosystem.
What Is Wonderland (TIME)?
Wonderland is self described as a “non-pegged stablecoin.” The token has a treasury that is used to back up the value of each token. This kind of backing means that the value of each token has a base price based on the amount of funds in the treasury. A variety of assets are stored in the treasury and allow the price to fluctuate. The developers believe that this process is better than traditional stablecoins such as Tether (USDT) and USD Coin (USDC) because these fiat currencies are controlled by governments.
Wonderland is a fork of OlympusDAO (OHM), which means that Wonderland essentially used the framework from OlympusDAO to create its project. OlympusDAO uses many of the same operating principles as TIME. The major similarity is the reserve backing of each token. However, OHM uses the DAI token to back up its coin whereas TIME uses MIM to back up its coin.
Wonderland is a project based on the Avalanche network, which is different from OlympusDAO, whose native token is based on the Ethereum network. Avalanche has much lower fees and is faster than Ethereum but currently lacks Ethereum’s robust ecosystem.
Following in the footsteps of OlympusDAO, Wonderland also hopes to create a decentralized autonomous organization (DAO) that can help facilitate the growth of the project. The DAO will be able to vote on issues surrounding the project. The number of votes will be determined by the amount of TIME owned. For example, if the DAO wanted to increase the base value of each TIME token, it could vote to increase the size of the treasury.
As of right now, the main use of TIME is for staking. Users can earn over 90,000% APY on staked TIME tokens. If the value of TIME and the APY were to remain constant, a $1,000 investment would become over $900,000 in just 1 year. However, it’s unlikely that interest rates will remain this high. The project sells bonds to attain funds that are used to mint new tokens.
However, each new TIME token that is minted lowers the overall value of each token. The developers of TIME expect the value of the token to go down over time. While the price will most likely go down, the treasury is used to back each token and ensure that the price will not go below a certain point. For example, on June 16th, 2022 the treasury had enough funds to ensure that each token is worth at least $47 USD, down a tremendous amount from its all time high in 2021 of $9,000.
Because this value can change, Wonderland could be one of the best investments you make, but you need to make sure that its treasury is ready to fulfill your sell orders for a good price when the time comes.
Brief History of Wonderland (TIME)
TIME launched in September 2021. It was founded by Daniele Sestagalli, an entrepreneur with experience in the crypto world. However, Sestagalli faced scrutiny in 2018 when 1 of his projects was hacked. Over $25,000,000 was lost, and Sestagalli’s credibility took a large hit. Sestagalli is hoping to change the crypto community’s perception of him with Wonderland.
Within 2 weeks of Wonderland’s release, TIME hit an all-time high of just under $13,000. It is currently trading between $40 and $60 per token.
Initially, a big reason for the decline was despite being a "stablecoin" the token was down along with the rest of the crypto market includeing Bitcoin and Ethereum. Then more began to come out including news surfacing of their CFO being a convicted felon and common scammer. This is why the community began to lose hope in the project they once had so much faith in. For what's next for Wonderland its hard to tell, however, the the future does not look promising.
How to Buy Wonderland (TIME)
Now that you understand the basics of the project, you may be interested in purchasing the token. Though it is a bit more difficult to purchase than other tokens, the overall process is fairly smooth.
Step 1: Open an online account.
The first step to obtaining TIME is to open an account with a crypto trading platform. Coinbase Global Inc. (NASDAQ: COIN), eToro and Voyager are all great platforms for those looking to begin their journey with TIME. These platforms are known for their ease of use and security.
To open an account, you need an email and password. You then need to provide basic personal information to verify your account. After your account has been verified, you can fund it using a bank transfer.
After you have a funded account, navigate to Avalanche (AVAX). You cannot purchase TIME directly, so you need to have another currency to swap for TIME. The easiest cryptocurrency to use is AVAX, as you'll be using the Avalanche Blockchain to trade your tokens for Wonderland (TIME).
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Step 2: Buy a wallet.
Now that you have USDT or ETH, you need a place to store it. A wallet is a way to store crypto separately from a centralized trading platform. It also allows you to access decentralized finance (DeFi) features that are necessary for purchasing TIME.
Best Hardware Wallet: Ledger
Hardware wallets are physical devices that hold the private keys necessary to purchase crypto. Ledger offers industry-leading hardware wallets with a variety of uses. Ledger’s hardware wallets are best known for their security and sleek design.
The Ledger hardware wallet even lets users stake their cryptocurrency for interest directly from their wallet, allowing you to keep your funds secure while being productive. It currently offers a Nano S and Nano X, both of which offer the same security measures to product your funds. The Nano S is cheaper and catered towards beginner crypto users whereas the Nano X is more expensive and has a few extra features, such as bluetooth connectivity.
Best Software Wallet: MetaMask
Software wallets exist entirely online although users still have full custody over their holdings. MetaMask is one of the most used and versatile wallets. Users can add a variety of chains to the wallet and use it in many situations.
To obtain a MetaMask wallet, navigate to its website and download the chrome extension.
Step 3: Make your purchase.
Once you have an account with AVAX and a crypto wallet, you need to send AVAX to the wallet. To do this, find the send feature on your trading platform and enter in the amount of crypto you would like to send to the wallet. Enter the wallet address. To find the correct wallet address, make sure your wallet is on the correct network. For both Avalanche, the network to use is the Avalanche Mainnet C-Chain.
Once you enter this in, send the crypto, and it should appear in your wallet. From there, navigate to Trader Joe. Search for the TIME/USDT or TIME/ETH pair and enter in the amount you would like to swap. Approve the transaction, and TIME will be stored in your wallet.
Bonus Section:
Keep an eye on the APY for staking TIME. Staking is currently the project’s most used feature and can have an impact on the price moving forward. While you might want to get into staking today, remember that you may want to get out just as quickly when you get a good return.
Trade, Sell or Convert Wonderland (TIME)
To sell your TIME, you essentially take the same steps you used to buy the token—but in reverse. You first convert TIME back to ETH or USDT through Gate.io using the appropriate pairing for your situation. After this, you will have either USDT or ETH in your wallet.
Next, locate the “receive” button in your exchange for the token in your wallet. Copy the wallet address and enter it into the “send” section on your wallet. Execute the trade, and your ETH or USDT will be on the trading platform you initially used.
Once you have ETH or USDT on a trading platform, go to your position and sell however much you would like. After, your liquidated position will be stored in fiat (USD). You can then deposit this back into your bank.
Current Crypto Prices
In November 2021, cryptocurrency became a hot debate in the U.S. Congress. Though lawmakers seem to be far from a consensus, crypto regulation could have huge implications on the crypto market.
This news caused a slight slide in the crypto markets. If you want to see where your favorite cryptocurrencies are at right now, make sure to check out Benzinga’s up-to-date crypto price table.
Is Wonderland (TIME) a Good Investment?
As a long term investment, TIME will almost assuredly depreciate due to its constantly increasing supply. However, it could be a profitable investment in the short term. If the DAO decides to increase the backing on each token, prices could increase. Furthermore, the project is fairly new. If the hype surrounding the project can outpace its inflated supply, the price will rise once again. However, these events are somewhat unlikely to have much of an effect if they happen. If you are willing to take on some risk to potentially generate reward, TIME can offer just that.
Who is Sifu?
Sifu was pseudonymous the Chief Financial Officer and co-founder of the Wonderland project. After his name surfaced as Michael Patryn, TIME lost over 60% compared to the previous week. He was also the co-founder of crypto exchange QuadrigaCX, which collapsed in 2019. Patryn has been convicted for multiple crimes in the past.
Is staking crypto worth it?
Yes, you can stake your cryptocurrencies and make money on interest, but staking is only worth it if you pull out and sell at a value that makes sense for your portfolio.
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About Caden Pok
Caden has been involved with crypto since 2018, when he began investing, trading, and mining tokens. He took part in undergraduate research studying cryptoeconomics at the University of Michigan, where he will graduate Phi Beta Kappa with a bachelor’s in economics in 2025. He is experienced with DeFi technology and multiple blockchains, currently investing in Ethereum and Bitcoin.