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. As of November 19, 2021, the treasury has enough funds to ensure that each token is worth at least $1,485 USD.
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 $8,500 and $9,500 per token.
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).
1 Minute Review
Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs.
You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.
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securely through eToro’s
Disclosure: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal.
1 Minute Review
eToro, headquartered in Cyprus, England and Israel, has provided forex products and other CFD derivatives to retail clients since 2007. A major eToro plus is its social trading operations, including OpenBook, which allows new clients to copy trade the platform’s best performers. Its social trading features are top notch, but eToro loses points for its lack of tradable currency pairs and underwhelming research and customer service features
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1 Minute Review
Voyager is a leading name in the sphere of cryptocurrency investing, giving you access to over 50 tokens and coins. Buy, sell and swap assets using Voyager Crypto’s simple mobile platform available as a free download for iOS and Android users.
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Though the broker could do more to improve its customer service, it’s an excellent option for beginner investors and seasoned professionals alike.
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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.
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.
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.
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 pair. 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 of each token, the price could increase. Furthermore, the project is fairly new. If hype surrounding the token can outpace the inflated supply, the price will go up. However, these events are somewhat unlikely to have much of an effect if they happen. If you are willing to take on risk to potentially generate reward, TIME can certainly offer it.
Benzinga crafted a specific methodology to rank cryptocurrency exchanges and tools. We prioritized platforms based on offerings, pricing and promotions, customer service, mobile app, user experience and benefits, and security. To see a comprehensive breakdown of our methodology, please visit see our Cryptocurrency Methodology page.