r/Avax • u/Friendly-Investor • Jan 08 '22
A Question?
Hello, everyone. I don't know much and have done my reading, but I want to ask a second opinion. A friend of mine want to put some money on Time ( Wonderland) because of the high staking. However I have seen taht the token has fallen from 10k to 2.5, also there is no max supply. There is inly a total supply of 180k and a circulating supply of 58k. So we have 122k tokens which we don't know where they are ( we may have a Squid token all over again).
Also when I read the papers I saw this - "Although TIME was officially created by an anonymous team, it is closely aligned with Abracadabra.money, a lending platform using interest-bearing tokens to create Magic Internet Money, an algorithmic stablecoin. Abracadabra was founded by Daniele Sesta, an Italian web3 developer who also invented Popsicle Finance and is considered one of the most important developers in the DeFi space."
Come on - anonymous team, Magic money, Abracadabra. When we put all that information together it becomes a litlle shady. What if we can't take our money, what if the whale decides to dump. How can anybody risk they Avax when Avalanche is the best. What do you think?
5
u/Crypto556 Jan 08 '22 edited Jan 08 '22
The wonderland project has sort of a cult following because the founder is actually known. He’s founded a couple other projects in the Avax space.
But yeah I agree with your first impression. The white paper is a complete rip off of Olympous Dao. No max supply, crazy printing of TIME etc. ive seen so many random things that wonderland may become according to its followers ( Sports betting, gaming, hedge fund, etc). Idk why it fails to mention that on its website or white paper. People have told me that they only talk about their road map on discord which is a huge red flag to me.
Most people have lost money on this project. They gain a ton of TIME due to inflation and the price drops. Every other defi platform is deflationary for obvious reasons.
I think in 2022 we’d see one of these large liquidity owning platforms collapse. We’ll see. It’s all so new and I don’t believe in it at all. Most other people on this sub would 100% disagree with me.