WonderlandDAO (TIME)

• From their docs (9-2021):

"Wonderland is the first decentralized reserve currency protocol available on the Avalanche Network based on the TIME token. Each TIME token is backed by a basket of assets (e.g., MIM, TIME-AVAX LP Tokens etc etc) in the Wonderland treasury, giving it an intrinsic value that it cannot fall below. Wonderland also introduces economic and game-theoretic dynamics into the market through staking and minting."

Basics

• Based in:
• Started in / Announced on: 2-9-2021
• Testnet release:
• Mainnet release:
• Olympus fork

Audits & Exploits

• There is no evidence of any bug bounty, nor an active program with ImmuneFi (18-1-2022).
• Scored 22% on DeFi Safety (18-1-2022):

"Activity is well over 10 transactions a day on contract TimeTreasury.sol. There is no software function documentation. No evidence of testing or auditing, henceforth the code can be interpreted as fully uncovered. No scripts or instructions to run tests. No evidence of tests to be found either. No evidence of formal verification. No evidence of audits."

• From their docs (9-2021):

"Wonderland is currently unaudited! It is a fork of Olympus DAO on the avalanche Network, audits will occur at a later stage."

Governance

Admin Keys

• From DeFi Safety (18-1-2022):

"A governance framework was found in their Medium. No information on pause control available."

DAO

• From their docs (9-2021):

"Currently most of the decisions are taken by the core team, but we expect to be able to turn this into a DAO-governed model as soon as possible!"

Treasury

• Passed a vote to invest $25M in Sifu Vision (1-7-2022).
• From their Discord FAQ (13-10-2021):

"We are an OHM fork, the first of which has OHM’s blessing due to our team's good long-standing relationship with the OHM team. 33% of our Reserve bonds will be used to buy and stake OHM, we currently own around 450k of OHM."

Technology

• Whitepaper can be found here.
• Code can be viewed here. ​Wonderland's Contracts have 1 branch and 6 commits (18-1-2022).

Implementations

• Built on: Avalanche, Arbitrum and Ethereum

How it works

• From Medium (7-12-2021):

"Each TIME token is backed by a collection of assets such as TIME-AVAX-LP tokens and $MIM that are found in Avalanche treasury, thereby giving it an intrinsic value."

• From their docs (9-2021):

"At a high level, Wonderland consists of its protocol managed treasury, protocol owned liquidity, bond mechanism (minting), and high staking rewards that are designed to control supply expansion.

Bonding in the "Mint" page generates profit for the protocol, and the treasury uses the profit to mint TIME and distribute them to stakers. With LP bond, the protocol is able to accumulate liquidity to ensure the system stability."

Staking

• From Medium (7-12-2021):

"Users stake TIME tokens on Wonderland website and earn rebase rewards, which come from the sale of bonds. These rebase rewards can vary based on reward rate set by the monetary policy and the number of TIME tokens staked in the protocol.

Those who stake $TIME receive an equal amount of MEMOries. The MEMOries balance automatically rebases at the end of every epoch. The MEMOries are transferable and also composable with other decentralized finance protocols."

Roadmap

• Can be found [Insert link here].

Competition

• Olympus

Pros and Cons

Cons

• From Rekt (28-1-2022):

"ZachXBT forced Sesta into admitting the identity of his CFO, 0xSifu. Michael Patryn, formerly Omar Dhanani, was the co-founder of QuadrigaCX, notorious for their fraudulent activity and the mysterious disappearance of founder Gerald Cotten.

ZachXBT: "I first posted about $TIME back in October after noticing the launch was sniped by CT insiders as well as a secret seed LP. In the following months my suspicions began to build when transparency was poorly executed. Ex: mixing personal wallets with treasury funds, lack of documentation, heavily centralized decision making. Sifu.eth also had a few links to Quadriga."

Team, Funding and Partners

Team

• Full team can be found [here].
• Daniele
• 0xSifu; ex-CFO, got ousted as long time scammer (28-1-2022). See above under cons.
• Multiple multisig signers of Abracadabra.money are part of the WonderlandDAO (9-10-2021). Plus the github of Wonderland is on the Abracadabra github website.

• From their docs (9-2021):

"Our team is mostly anonymous, born from the DeFi Community."

(:

Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31