Wonderland is one of Olympus DAO's most popular forks. On Avalanche, it was the first decentralized reserve currency protocol. TIME is backed by a variety of reserve assets, including Magic Internet Money and liquidity tokens. TIME has an intrinsic value that it cannot fall below.
Wonderland intends to create a policy-controlled currency system on the AVAX ecosystem through a number of economic and game-theoretic dynamics. TIME is the ecosystem's unit of account and medium of exchange currency. The short-term purpose of the token is to optimize growth and weather formation. Rather than aiming for a set value like an algorithmic stablecoin, TIME aims for a stable value backed by a basket of goods that excludes fiat currency.
The underlying mechanism used by Wonderland is the same as that used by Olympus. Each TIME unit is backed by a treasury made up of MIM and other liquidity tokens. If the price of TIME fell below its backed value, the Treasury would purchase it back and burn it to raise the price above the floor. The price of TIME, on the other hand, has no upper limit.
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