What exactly is Time Wonderland?
Time Wonderland is a clone of Olympus DAO, a currency that offers an annual percentage yield of 8000 per cent Apy.
So, if you put $1,000 into Olympus DAO, in one year that $1,000 will grow to $8000, that is what Apy can achieve for you at an eight thousand % rate.
Peckshield and Omniscia have audited Olympus DAO. As a result, it is semi-legitimate. It has also been on the market for seven months, and the longer it is on the market, the less likely it is to suffer rug pull.
What is the connection between Olympus Dao and Time Wonderland? Time Wonderland, on the other hand, is a knockoff of Olympus DAO.
However, instead of the insane 8000 per cent, Apy Wonderland has an even more insane APY of 87 000 per cent, which implies that if you spend one thousand dollars on Time Wonderland. Then you will receive 875.000 dollars in a year. That is really insane.
Who is Time Wonderland‘s creator?
Danielle Sestagalli is the creator of Time Wonderland. But what are his qualifications? I checked them out, and they’re rather remarkable. As a result, he is the CEO of Zulu Republic and the CTO of Utopia Genesis Basic.
He is the creator of three major initiatives. Popsicle finance, abracadabra, and Time Wonderland, of course.
It is crucial to note that Popsicle Finance was hacked, and it was audited, but it was hacked, and 25 million dollars were taken. Instead of fleeing, Danielle repaid all of the money to those who had been hacked.
What if Time Fails?
To clarify this, I need to discuss the treasury balance. The treasury balance represents how much money Time has saved since its inception.
When customers purchase the Time token, a percentage of the proceeds are sent to the Treasury. And it presently has about 900 million dollars in its treasury balance.
If we look at it right now, we can see that it states backing per Time, which indicates that if everyone sells all of their Time, the treasury has enough money to back every Time token for at least 2.029 USD.
This is in contrast to some of the other coins, which have no treasury and no backing.
So, if Time crashes, and there is a mechanism in the contract allowing it to utilise the money in the treasury balance to buy back the Time tokens and then burn them. This will keep the token price stable and prevent it from decreasing.
Is APY genuine?
There is one essential point that I believe most people are overlooking. You are not receiving an APY of 69,883.1 (AS OF 22/12/2021) per cent on your investment.
On the Time token, you will receive 69,883.1 per cent APY. So, if you have one Time token, all it promises you is that you will have 690 Time tokens in a year.
That may appear clear, as it is the exact thing it promises you 69,883 per cent of the time. However, this is not the case because the contract states that one Time token equals one MiM. (magic internet money). And one MiM costs about a dollar.
So the brilliance element of this is that if you spend $8,000 to buy one Time token, it only takes one dollar to manufacture and back up that Time token. The remaining seven thousand nine hundred and ninety-nine dollars are allocated to other stakeholders and deposited in the treasury.
This is how they can justify Apy’s extreme behaviour. Because they aren’t guaranteeing you money, they’re promising you investment. They will just give you a Time token. And the Time token is worth a dollar at the absolute least.
The price of the Time token is determined by how much everyone else values the Time token; it is priced in terms of money. s in the treasury, thus a portion of the money you spend to purchase the Time token goes into the treasury, increasing the value of the Time token.
However, at its heart, one Time token is only worth one MiM currency or about one dollar. This is how they may provide you 69000% APY.
The big question. Is this a SCAM?
I don’t know what I’m talking about. However, it does not appear to be a hoax. Because the creator appears to be a highly trustworthy individual, and he shows his face.
So you know that if something goes wrong in Time Wonderland, he’ll try to solve it. He’s not going to flee. That, I believe, provides me with some assurance. However, it is still quite dangerous.
So, if it doubles, doubles, doubles, triples, triples, triples, triples, triples, triples, triples, triples, triples, triples, triples, triples, triples, triples, triples, triples That finally, I’m only interested in profit, and I can afford to lose the majority of it. Hopefully, not everything. That is all I am concerned with.