How To Buy Wonderland (TIME)?

A common question you often see on social media from crypto beginners is “Where can I buy Wonderland?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. 

Step 1: Create an account on an exchange that supports Wonderland (TIME)

First, you will need to open an account on a cryptocurrency exchange that supports Wonderland (TIME).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Wonderland (TIME) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Wonderland (TIME)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Wonderland (TIME) or Wonderland (TIME) trading pairs. Look for the section that will allow you to buy Wonderland (TIME), and enter the amount of the cryptocurrency that you want to spend for Wonderland (TIME) or the amount of fiat currency that you want to spend towards buying Wonderland (TIME). The exchange will then calculate the equivalent amount of Wonderland (TIME) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Wonderland (TIME) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

Alternative ways to buy Wonderland (TIME)

Because the project is very new, it is only offered directly on a select number of exchanges. If you’re not comfortable connecting your bank account to any of these smaller exchanges, or if you cannot connect your bank account to them for geographical reasons. Then you can instead create an account on any of the major exchanges and simply transfer the funds from there.
Out of the major exchanges we recommend the following based on functionality, reputation, security, support and fees:

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

Simplecryptoguide.com

What Is Wonderland (TIME)?

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.) 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.

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. 

Dollar-pegged stablecoins have become an essential part of crypto due to their lack of volatility as compared to tokens such as Bitcoin and Ethereum. Users are comfortable with transacting using stablecoins knowing that they hold the same amount of purchasing power today vs. tomorrow. But this is a fallacy. The dollar is controlled by the US government and the Federal Reserve. This means a depreciation of dollar also means a depreciation of these stablecoins. Wonderland aims to solve this by creating a non-pegged stablecoin called TIME. By focusing on supply growth rather than price appreciation, Wonderland hopes that TIME can function as a currency that is able to hold its purchasing power regardless of market volatility.

Is TIME a stablecoin?

No, TIME is not a stablecoin. Rather, TIME aspires to become an algorithmic reserve currency backed by other decentralized assets. Similar to the idea of the gold standard, TIME provides free-floating value its users can always fall back on, simply because of the fractional treasury reserves TIME draws its intrinsic value from.

What is Magic Internet Money (MIM)?

Magic Internet Money (MIM) is a stablecoin backed by interest bearing tokens issued by abracadabra.money.

Why is it so important to stake your Wonderland (TIME)?

Staking is the primary value accrual strategy of Wonderland. Stakers stake their TIME tokens on Wonderland Website to earn rebase rewards. The rebase rewards come from the proceed from bond sales, and can vary based on the number of TIME staked in the protocol and the reward rate set by monetary policy.

Staking is a passive, long-term strategy. The increase in your stake of TIME translates into a constantly falling cost basis converging on zero. This means even if the market price of TIME drops below your initial purchase price, given a long enough staking period, the increase in your staked TIME balance should eventually outpace the fall in price.

When you stake, you lock TIME and receive an equal amount of MEMOries. Your MEMOries balance rebases up automatically at the end of every epoch. MEMOries is transferable and therefore composable with other DeFi protocols.

When you unstake, you burn MEMOries and receive an equal amount of TIME tokens. Unstaking means the user will forfeit the upcoming rebase reward. Note that the forfeited reward is only applicable to the unstaked amount; the remaining staked TIME (if any) will continue to receive rebase rewards.

How does staking $TIME in Wonderland work?

Staking is often described as a method that allows investors to earn rewards from cryptocurrency assets.

While, technically, the process involves locking tokens within a Proof-of-Stake blockchain to help validate transactions, many protocols now offer users the opportunity to earn rewards through a variety of other mechanisms. These mechanisms are still often referred to as staking.

To encourage adoption and generate liquidity for Wonderland, the protocol employs 2 key mechanisms – staking and minting. While minting is a way to generate profits, staking is a method to incentivize liquidity provision.

Minting TIME tokens is achieved through a ‘bonding process. Liquidity provider tokens or other digital assets are sold to the Wonderland protocol in exchange for TIME. TIME is sold at a discount to market rates the Wonderland protocol, which incentivizes buyers. This boosts the treasury’s reserves. Profits that are collected from minting are then distributed to stakers.

Staking involves locking TIME tokens within the Wonderland protocol. In return for locking away liquidity and, therefore, again boosting the protocol’s treasury, investors can earn a compounding return on investments.

What is Rebasing in Wonderland?

Every 8 hours the Wonderland protocol distributes profits by sending new TIME tokens to the staking contract. However, this results in an imbalance between the amount of TIME and the amount of MEMO – after all, the two are meant to be pegged 1:1. As a result, a rebase is required to correct the difference.

The rebase brings the supply of TIME: MEMO back to 1:1. The supply of MEMO is increased to match the new supply of TIME.

All rebases occur retroactively, meaning that it happens 8 hours after profit has been generated. This delay means that users can see what APY they will receive at the end of the next 8-hour window. With this delay, users can see what rewards they are set to receive.

Wonderland development updates in 2023

Wonderland (TIME) has undergone several developments and faced challenges in 2023. Here’s a summary of the key updates and events:

• Recent Developments: Wonderland has made adjustments to its TIME bonds, including increasing the maximum purchasable value and introducing a lower discount to maintain current price growth. Additionally, new bonds on the AVAX network have been introduced. This includes scaling up single-sided MIM bonds and Liquidity Provider tokens (LPs). Wonderland also repurchased Olympus decentralized reserve currency (OHM) as part of its strategy.

• Challenges and Community Response: The project faced a major setback with revelations about its treasurer’s identity leading to a crisis in confidence among investors. Despite this, a vote to end Wonderland’s operations and disburse the treasury to investors did not pass, indicating that token holders might still have faith in the project’s recovery or are reluctant to realize their losses.

• Price Performance and Market Sentiment: Wonderland’s price experienced significant volatility. The price of the TIME token spiked more than 30% at one point, giving it a fully diluted market cap of more than $115 million. However, the project has also seen declines in value, impacted by broader market trends and internal challenges. The current market sentiment for Wonderland is bearish.

• Future Outlook and Goals: The ultimate goal of TIME is to become a global unit of account and medium of exchange. While the platform is relatively new and facing challenges, its long-term vision is to democratize reserve finance and contribute to a fully decentralized financial ecosystem.

• Investor Considerations: As with any crypto investment, potential investors in Wonderland should be aware of the risks involved, especially given the project’s recent challenges and the general volatility of the cryptocurrency market.

For detailed information and the latest updates on Wonderland (TIME), it’s advisable to follow the official communications from the project and track market analysis from credible sources​​​​​​.

Official website: https://www.wonderland.money/

Best cryptocurrency wallet for Wonderland (TIME)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Wonderland (TIME)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).