Ethereum
$ 1,091.47 5.14%
Solana
$ 32.94 7.96%
Dogecoin
$ 0.068552 1.61%
ApeCoin
$ 4.59 9.50%
Bitcoin
$ 20,074.00 1.37%
BNB
$ 218.79 4.55%

How to Stake Wonderland (TIME)

how to stake wonderland

Have you ever wondered where a currency’s or a stablecoin’s value derives from? It may be pretty perplexing at times. This is obvious for $TIME tokens. Each token is backed by a portfolio of assets, including MIM, TIME-AVAX LP tokens, and others. Rather than being tied to the US dollar like other stable coins, $TIME is backed by government assets. This implies that the $TIME token has an inherent value from which it cannot go below.

Learning how to stake Wonderland involves a closer look into the stability or reliability of $TIME. Once an OlympusDAO fork, WonderlandDAO is evolving into a unique and powerful entity that has received a massive update to its home page that better reflects the true goals and purpose of the protocol.

The DAO is now appropriately defined as a collective that is motivated to empower crypto and web 3 protocols through the deployment of DAO-governed treasury capital into projects at their early stages aka seed investments and through advanced treasury management strategies, all with the ultimate goal to maximize capital growth.

To participate in the DAO, users need to buy wMEMO tokens from the open market. These tokens can be used to vote on protocol proposals and direct the future of the project.

They can also be staked in a revenue-sharing contract to benefit from the treasury performance.

Today’s Wonderland price is $65.47 with a 24-hour trading volume of $466,413. Wonderland is down 4.64% in the last 24 hours. The current CoinMarketCap ranking is #3316, with a live market cap of not available. The circulating supply is not available and the max. supply is not available.

What is Wonderland?

Built on the Avalanche network, Wonderland is a decentralized reserve money mechanism. It essentially aspires to be a reserve currency system based on an asset treasury. The native money and token of Wonderland is $TIME.

When it comes to Wonderland, most people fall into one of two categories. When the first group notices the sky-high APYs for staking, they quickly discard Wonderland and other Olympus forks as frauds (over 80,000%). The second group is drawn to the same APYs as the first and wants a piece of the pie.

How to buy Wonderland (TIME)

Step 1. Please visit theTraderJoe.xyz swap page.

Step 2. Make sure TIME is the output currency. Copy and paste the TIME contract address into the output currency box to make sure you’re switching the proper token. On Avalanche, the TIME token address is 0xb54f16fB19478766A268F172C9480f8da1a7c9C3.

Step 3. Based on your available wallet balance, you can choose any input currency. For the most liquidity, we propose the AVAX-TIME pair.

Step 4. Choose how much TIME you wish to trade for. Then click “Approve” to complete the purchase and sign it.

Screenshot 1136

Step 5. Click “Swap” and sign the transaction when the “Approve” transaction has been properly processed.

Step 6. After the swap transaction is complete, you should see TIME in your wallet balance. If you can’t find it in your wallet, save the TIME contract address.

How to stake TIME using AVAX

Step 1 – Log into your Binance account and deposit the amount of fiat to buy AVAX tokens.

Screenshot 1137

Step 2 – Use the Trade and Convert feature of Binance to get your AVAX.

Screenshot 1138

Step 3 – Send the AVAX by clicking on the “Withdraw” button to your Metamask wallet.

Screenshot 1140

Step 4 – Create your own Avalanche wallet since you cannot send AVAX directly to your Metamask wallet.

Screenshot 1141

Step 5 – Go to this site to create your wallet and generate your key phrase.

Screenshot 1142

Step 6 – Click on “Access Wallet”.

Screenshot 1144

Step 7 – Go back to Binance and copypaste the address marked x on your Avalanche wallet.

Screenshot 1145

Step 8 – After confirming the amount that you want to be transferred to your AVAX wallet, in a few minutes, that amount will show in your AVAX wallet. To be able to send that AVAX to Metamask, you have to go to the cross-chain menu, where X is the Source chain and C is the Contract wallet.

Screenshot 1147

Step 10 – After the transfer is complete, transfer AVAX to the cross-chain which will now be your source chain.

Screenshot 1149

Your Avalanche wallet should show the transfer is completed.

Screenshot 1148

Step 11 – Open your Metamask wallet and make sure you are in the Avalanche Network.

Screenshot 1150

Step 12 – Choose the amount of AVAX for transfer, copypaste your Metamask address and click “Confirm.”

Screenshot 1151

Step 13 – Now we come to Wonderland staking. You need to buy TIME by clicking on the top right corner.

Screenshot 1154

Step 14 – First option is to buy TIME from TraderJoe using the AVAX that you purchased.

Screenshot 1155

2nd option is MINT TIME.

Screenshot 1156

By minting, you get TIME at a discounted value but you need to allow for 5 days to be able to withdraw it. Just select the value of the amount of form of AVAX you want to mint and click “Mint”

Screenshot 1158

Step 15 – From minting, you can Autostake to save on gas.

Screenshot 1159
Step 16 – You can further stake MEMO which you receive for staking TIME on the Fantom blockchain and earn more by leveraging the WMEMO received as a receipt for your staked TIME and bridging them to the Fantom network using AnySwap. Earn +50%APY staking WMEMO in Grime Finance and MorpheusSwap.

17:00 WMEMO Bridge to Fantom using Anyswap 18:50 Stake WMEMO using Grime Finance and Morpheus Swap in this video: 90,000% APY! How to Stake TIME Wonderland Money in AVALANCHE 🎩 | Step by Step Guide and Tutorial – YouTube

Screenshot 1162

How does Wonderland (TIME) staking work?

Staking is a term used to describe a way of earning benefits from bitcoin assets. While the procedure technically entails locking tokens within a Proof-of-Stake blockchain to aid in transaction validation, many protocols now allow users to earn rewards in several additional ways.

Staking and minting are two fundamental strategies Wonderland uses to drive adoption and generate liquidity. While staking is a means of incentivizing liquidity provision, minting is a method of generating profits. The ‘bonding procedure’ is used to create TIME tokens.

What are the incentives for staking?

In return for TIME, liquidity provider tokens or other digital assets are offered to the Wonderland protocol. The Wonderland protocol incentivizes purchasers by selling TIME at a discount to market pricing. This increases Treasury reserves.

  • Stakers receive a portion of the profits generated from minting. Within the Wonderland system, staking entails locking TIME tokens. Investors can earn a compounding return on investments to lock away liquidity and build the protocol’s treasury.
  • A token called MEMOrie (MEMO) is produced and transferred to the liquidity provider for every TIME token staked. This cryptocurrency is a liquidity provider that is used to distribute incentives. It is based on the time value.
  • Like Olympus DAO, the techniques adopted in Wonderland are called “(3,3)” and use game theory to assure stable protocol expansion while stakers enjoy large payouts.

What’s the difference between Minting vs. Staking?

Staking involves purchasing bitcoin and storing it in a staking wallet for a set amount of time. You sufficiently safeguard the network and receive rewards by depositing and retaining the assets. Keeping crypto in a staking wallet allows the owner to be chosen as a transaction validator.

Staking is theoretically open to anybody because it just requires locking assets in a specified location. Staking can begin with as little as $1, but the amount necessary ultimately depends on the sort of currency you have. These coins are locked for a period of time after being staked. When a user removes their funds from the wallet too soon, they forfeit their chance to get a reward, and the reward yield stays.

Staking earnings are determined by how much and for how long you stake. The greater the incentive rates, the more coins invested in the network. The reward yield tells the proportion by which your staked OHM balance rises on the next epoch is called reward yield. Rebase rate is another name for it.

Within Proof of Stake, minting is the process of verifying transactions, producing new blocks, and recording information on the blockchain.

What’s a validator?

Validators chosen pseudo-randomly on the network verify transactions. Validators are the equivalent of miners in PoW. A validator is someone who takes an active role in protecting the network and checking information on fresh blocks.

A validator is usually required to stake a certain quantity of assets in the network. The keeping of coins in the network enforces a punishment mechanism while also providing a larger incentive.

When validators try to manipulate the system or validate erroneous transactions, the punishment mechanism reduces their staked bitcoin. Validators are motivated to verify transactions honestly by the threat of losing their holdings.

Validators are rewarded in the form of network transaction fees for validating transactions as well as staking incentives. In addition, validators in certain networks are rewarded with fresh currencies that are created over time.

Rebasing

The Wonderland system divides earnings every 8 hours by issuing additional TIME tokens to the staking contract. This, however, causes an imbalance between the quantity of TIME and the amount of MEMO – after all, the two are supposed to be equal.

As a result, to remedy the disparity, a rebase is necessary. The rebase restores the TIME: MEMO supply to 1:1. MEMO supply has been raised to match the new TIME supply.

All rebases are done retrospectively, which means the next reward yield happens 8 hours after profit is produced. Users can see what APY they will earn after the following 8-hour timeframe because of the delay. In addition, users may view what prizes they are slated to get with this delay.

How to stake Wonderland (TIME) using MetaMask

Because the Wonderland protocol runs on the Avalanche blockchain, native AVAX coins are required to complete the staking procedure and pay any associated gas costs. In addition, a Web 3.0 cryptocurrency wallet, such as MetaMask, is also required.

Check out our guide to Bitcoin wallets for more details. The steps below will walk you through how to buy TIME on a DEX and then stake it on the Wonderland blockchain. Wonderland protocol distributes profits every eight hours of staking, and the rewards are increased automatically.

Step 1: Purchase AVAX

To buy TIME on the Avalanche blockchain using a DEX, you must first acquire AVAX on a centralized exchange like Binance, Kucoin, or Coinbase. You may exchange BTC or ETH for AVAX if you already have cryptocurrency. Alternatively, you may buy AVAX with fiat cash on several exchanges.

Screenshot 1163
Be sure to have the Avalanche network on your Metamask wallet options.

Step 2: Create a link between Web 3.0 wallet and Avalanche

A series of connection information must be entered to establish a link between the Avalanche blockchain and your MetaMask wallet. Select the MetaMask extension. In the upper center of the extension, click the Network drop-down menu. Select the ‘Custom RPC’ option from the menu. You may choose a Web3 wallet here.

Step 3: Create an Avalanche wallet

You’ll need to build an Avalanche wallet on the network once you’ve established a link with the Avalanche blockchain in order to transmit digital assets (AVAX) from your centralized exchange. This will operate as a link between MetaMask and your centralized bitcoin exchange. Go to https://wallet.avax.network/ and select ‘Create New Wallet’ to create an Avalanche wallet. Then, follow the directions on the screen. Remember to keep all of your key phrase information safe, just like MetaMask.

Step 4: Withdraw AVAX from exchange to Avalanche wallet

Return to the centralized exchange where you bought AVAX. Withdraw AVAX from your Avalanche wallet, which you created in “Step 3.”

Step 5. Send AVAX from Avalanche wallet to MetaMask wallet.

You must first pass AVAX coins between the several Avalanche chains—each chain is utilized for distinct procedures—before transferring AVAX to your MetaMask wallet.

Click the “Cross Chain” menu on the left side of the Avalanche wallet. Assign the source chain to “X-CHAIN” and the destination chain to “C-CHAIN.” Then input currency based on what you want to send, and subsequently enter in the output currency field as to where you want the currency to go. Click ‘Confirm’ when you’re satisfied.

How to Stake Wonderland (TIME) 1

Click the “Send” menu on the left of the Avalanche wallet screen once assets have been transferred to the C CHAIN.

Select “C” as a source chain in this box, and then enter the quantity of AVAX you want to transfer. Next, go to your MetaMask wallet and copy your AVAX address by clicking the address symbol and copying it to the clipboard. Finally, check to see if your MetaMask wallet is still connected to the Avalanche Network.

Paste the address into the ‘To Address’ field in the Avalanche wallet.

Send a tiny amount to ensure the address is correct.

When you’re satisfied with all of the facts, click ‘Confirm.’

Step 6: Replace AVAX with TIME 

If you’re using an Avalanche-based DEX likeTraderjo.com, you’ll need to convert your AVAX tokens to TIME before using the Wonderland protocol.

Step 7: Invest in TIME in Wonderland

Go to the official Wonderland website to stake your newly purchased TIME. Connect your MetaMask wallet first; this will require permission from within MetaMask. Then, select “Stake” from the menu on the left-hand side of the website once you’ve joined. 

Enter the amount of TIME you want to stake, then click “Stake” to finalize the transaction. Your MetaMask wallet will also need to approve the transaction. AVAX gas surcharges will apply to this transaction.

You will be able to start staking TIME tokens within the Wonderland protocol after the transaction has been executed across the Avalanche network. You will get MEMO, which is TIME’s 1:1 liquidity provider token, in exchange for staking TIME tokens.

MEMO is a transfer-restricted rebase token, which means it can only be held and used to get rebase incentives. The goal is to ensure that the TIME supply remains unchanged until MEMO is unstaked. It works similarly to a coupon in that it entitles you to prizes, but it may also be used to redeem TIME at any time.

Every 8 hours, rewards from the Wonderland staking process will be accumulated. You can check the staked balance in the MetaMask wallet.

How to Stake Wonderland (TIME) 2

There are more strategies for staking MEMO.

How to Unstake TIME

Step 1. Go to the Wonderland website’s Stake page. The “Unstake” tab should be selected.

Step 2. In the input area, type the number of MEMORIES you want to unstake. Then, press the “Max” button to unstake all of your MEMOries, and the input area will be filled with all of your available MEMOries balance.

Step 3. Sign the transaction by clicking “Approve.”

Step 4. Click “Unstake” and sign the transaction when the “Approve” transaction has been properly executed.

Benefits of staking TIME

  • Fortunately, neither Wonderland nor Olympus DAO has had any significant cyberattacks or security breaches.
  • In its brief existence, the protocol has amassed a total value locked of US$1.5 billion, which is rather amazing for such a short time.
  • While the community is driving it, with everyone working together to develop the protocol, the lack of clarity about leadership may deter some investors.
  • While there are no obvious red flags associated with Wonderland, always invest what you can afford to lose like any cryptocurrency.

Risks of staking TIME

  • Wonderland has only been open for around five months (as of December 2021), indicating that it has not yet shown its worth. While there have been no problems thus yet, the process does involve a few dangers that some investors may see as red flags.
  • The protocol’s code is built on the Olympus DAO Ethereum-based program, which has only been operational for around nine months.
  • Unlike Olympus DAO, the code for Wonderland has not been extensively audited. Wonderland’s native documentation makes it clear that its protocol has not yet been audited.
  • Daniel Sestagalli, the founder of TIME (Wonderland.money), explains the future plans for TIME and how the APY is generated.

Founder of $TIME Explains APY and FUTURE PLANS! – Bing video

  • Wonderland’s TIME tokens fell 32% in European hours after blockchain sleuths revealed “Sifu,” a core member of the founding team, is allegedly a long-time serial scammer, with a conviction and deportation on his record. He was also the co-founder of QuadrigaCX, a failed Canadian cryptocurrency exchange.

Recap

Will TIME go the way of TerraLUNA when UST was de-pegged? So far, the $MIM peg merely dipped to .98 cents and recovered.

Abracadabra’s SPELL token crashed last week when it was revealed that Sifu, the CFO of its proposed merger project Wonderland, was hiding a dark secret. We can’t pin the Wonderland falling apart squarely on the Sifu thing. It was already a mess at that point and every other (3,3) suffered a similar fate. So, how come TIME is still selling? Leave it to the community,

FAQs about staking Wonderland

Why is Wonderland TIME worth much?

Because of the high APYs, savers may earn a lot of money. Minters get a discount on TIME tokens and contribute to Wonderland’s treasury and high APYs. With additional minters, Wonderland’s treasury balances and TIME token backing rise, incentivizing even more people to join.

What is Wonderland TIME staking?

Within the Wonderland protocol, staking is the process of locking TIME tokens. You get a compounding return on your locked TIME tokens in exchange for locking away your liquidity and thereby building the protocol’s treasury.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Shawn Du'Mmett

Shawn Du'Mmett

Former IT development and consultant, remote team and collaboration expert, PM, CCO, writer, dreamer, idealist looking to collaborate with global teams on a global teal/turquoise organisation. Shawn's dream is working together openly, to get what writers need and want, and to solve biggest global problems. He is building a collaboration system from the start that everyone can own and define, allowing them to work together, to decide how it works and to their highest ideals.

Related News

Hot Stories

Bitcoin, Ethereum, Shiba Inu, and Litecoin Daily Price Analyses – 29 June Roundup
Polkadot price analysis: DOT continues to decline with low of $7.06 recorded
Bitcoin price analysis: BTC touches $19,775 as bears threaten another sharp pullback
Bitcoin, Binance Coin, Polygon, and Uniswap Daily Price Analyses – 29 June Morning Price Prediction
Ripple price analysis: XRP swiftly retests $0.32, bottom found?

Follow Us

Industry News

Three Arrows could be liquidated due to the crypto market's bearish streak
Ronin bridge returns online after hack
Compass Mining loses Bitcoin mining facility for neglecting energy bill
Robinhood shares spike 14% on FTX rumored purchase report
US adults turn strong hands, predict Bitcoin at $38,000 on average in 6 months