Difference between revisions of "WonderlandDAO (TIME)"

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*From their [https://wonderland.gitbook.io/wonderland/ docs] (9-2021):
''"[https://www.wonderland.money/stake Wonderland] is the first [[decentralized]] reserve currency protocol available on the [[Avalanche (AVAX)|Avalanche]] Network based on the TIME [[token]]. Each TIME token is backed by a basket of assets (e.g., [[Abracadabra.money (SPELL + MIM)|MIM]], TIME-[[AVAX]] [[Liquidity Provider (LP)|LP]] [[Tokens]] etc etc) in the Wonderland treasury, giving it an intrinsic value that it cannot fall below. Wonderland also introduces economic and [[Game Theory|game-theoretic]] dynamics into the market through [[Proof-of-Stake (PoS)|staking]] and minting."''
== Basics ==
== Basics ==
*Based in:
*Based in:
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*[[Testnet]] release:
*[[Testnet]] release:
*[[Mainnet]] release:
*[[Mainnet]] release:
*[[Olympus (OHM)|Olympus]] [[fork]].
*[[Olympus (OHM)|Olympus]] [[fork]]
*From their [https://wonderland.gitbook.io/wonderland/ docs] (9-2021):
 
''"[https://www.wonderland.money/stake Wonderland] is the first [[decentralized]] reserve currency protocol available on the [[Avalanche (AVAX)|Avalanche]] Network based on the TIME token. Each TIME token is backed by a basket of assets (e.g., [[Abracadabra.money (SPELL + MIM)|MIM]], TIME-AVAX [[Liquidity Provider (LP)|LP]] Tokens etc etc) in the Wonderland treasury, giving it an intrinsic value that it cannot fall below. Wonderland also introduces economic and [[Game Theory|game-theoretic]] dynamics into the market through [[Proof-of-Stake (PoS)|staking]] and minting."''


==History==
==History==
==Audits & Exploits==
==Audits & Exploits==


*[[bug bounty|Bug bounty]] program can be found [insert here].
*There is no evidence of any [[bug bounty]], nor an active program with [[ImmuneFi]] ([https://www.defisafety.com/pqrs/143 18-1-2022]).
 
*Scored [https://www.defisafety.com/pqrs/143 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 [https://wonderland.gitbook.io/wonderland/ docs] (9-2021):
* From their [https://wonderland.gitbook.io/wonderland/ docs] (9-2021):


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==Governance==
==Governance==
===Admin Keys===
===Admin Keys===
* From [[DeFi Safety]] (18-1-2022):
''"A [[governance]] [[framework]] was found in their [https://medium.com/the-defi-wonderland/wonderland-governance-framework-25b8792ecc8 Medium]. No information on pause control available."''
===DAO===
===DAO===


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* From their [[Discord]] [https://discord.com/channels/884650236398682123/884653360744108053/892527926187266088 FAQ] (13-10-2021):
* From their [[Discord]] [https://discord.com/channels/884650236398682123/884653360744108053/892527926187266088 FAQ] (13-10-2021):


''"We are an [[Olympus (OHM)|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."''
''"We are an [[Olympus (OHM)|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."''


==Token==
==Token==
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===Token Allocation===
===Token Allocation===
===Utility===
===Utility===
===Other Details===
===Other Details ===
===Stablecoin===
===Stablecoin===
==Coin Distribution==
==Coin Distribution==
==Technology==
==Technology==


*[[Whitepaper]] can be found [insert here].
*[[Whitepaper]] can be found [https://docs.wonderland.money/ here].
*Code can be viewed [https://github.com/Abracadabra-money here].
*Code can be viewed [https://github.com/Abracadabra-money here]. ​Wonderland's [[Contracts]] have 1 branch and 6 commits ([https://www.defisafety.com/pqrs/143 18-1-2022]).


===Implementations===
===Implementations===


*Built on: [[Avalanche (AVAX)|Avalanche]]
*Built on: [[Avalanche (AVAX)|Avalanche]], [[Arbitrum]] and [[Ethereum (ETH)|Ethereum]]


===How it works===
===How it works===
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''"At a high level, Wonderland consists of its protocol managed treasury, protocol owned [[liquidity]], bond mechanism (minting), and high [[Proof-of-Stake (PoS)|staking]] rewards that are designed to control supply expansion.''
''"At a high level, Wonderland consists of its protocol managed treasury, protocol owned [[liquidity]], bond mechanism (minting), and high [[Proof-of-Stake (PoS)|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."''
''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."''


===Fees===
===Fees===
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* [https://medium.com/momentum6/damnnn-daniel-e-back-at-it-again-with-the-frog-nation-an-overview-a1cc2e34f0c1 From] [[Medium]] (7-12-2021):
* [https://medium.com/momentum6/damnnn-daniel-e-back-at-it-again-with-the-frog-nation-an-overview-a1cc2e34f0c1 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.''
''"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."''
''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."''


===Liquidity Mining===
===Liquidity Mining===
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* [https://rekt.news/sifu-scandal/ From] [[Rekt]] (28-1-2022):
* [https://rekt.news/sifu-scandal/ From] [[Rekt]] (28-1-2022):


''"ZachXBT forced Sesta into [https://twitter.com/zachxbt/status/1486591682728673282?s=20&t=cBEml84fJqyrRYosUNv7Cw 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 forced Sesta into [https://twitter.com/zachxbt/status/1486591682728673282?s=20&t=cBEml84fJqyrRYosUNv7Cw 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 [[Twitter|CT]] insiders as well as a secret seed [[Liquidity Provider (LP)|LP]]. In the following months my suspicions began to build when transparency was poorly executed. Ex: mixing personal [[Wallet|wallets]] with treasury funds, lack of documentation, heavily [[centralized]] decision making. Sifu.eth also had a few links to Quadriga."''
''ZachXBT: "I first posted about $TIME back in October after noticing the launch was sniped by [[Twitter|CT]] insiders as well as a secret [[seed]] [[Liquidity Provider (LP)|LP]]. In the following months my suspicions began to build when transparency was poorly executed. Ex: mixing personal [[Wallet|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, Funding and Partners==
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Making these free wiki pages is fun but takes a lot of effort and time.
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.
If you have enjoyed reading, tips are appreciated :) This will help us to [[keep]] expanding this archive of information.


[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
[[Category:Coins/Tokens]]
[[Category:Coins/Tokens]]

Revision as of 08:39, 14 March 2022

  • 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

History

Audits & Exploits

"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."

Bugs/Exploits

Governance

Admin Keys

"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

"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."

Token

Launch

Token Allocation

Utility

Other Details

Stablecoin

Coin Distribution

Technology

Implementations

How it works

"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."

Fees

Upgrades

Staking

"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."

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Privacy Method

Compliance

Their Other Projects

Roadmap

  • Can be found [Insert link here].

Usage

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

"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

  • From their docs (9-2021):

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

Funding

Partners

(:

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