Time briefs 61%, Wonderland Admin supposedly co -founder of Quadrigacx - Markets and Prices
Time briefs 61%, Wonderland Admin supposedly co -founder of Quadrigacx - Markets and Prices
While crypto assets such as gold tokens and stable coins based on reserves have been able to survive the slaughter of the crypto market in the past two weeks, rebase tokens such as Wonderland (Time) and Olympus (Ohm) have suffered massive losses. Wonderland has dropped by more than 96 % since the all-time high of the crypto asset (ATH), and Ohm has dropped by over 95 % since his own ATH. In addition, the Wonderland project is controversial because it is assumed that one of the founding members was a former Quadrigacx employee.
Rebase token Economy falls from $ 3.2 billion to $ 1.74 billion
The blocked total value (TVL) of all decentralized financial protocols (Defi) existing today is just below the 200 billion dollar brand. While many Defi projects have succeeded in warding off the recent descent of the cryptom market, others have experienced a price slide in the past two weeks. Many funds are in reserve-based crypto-assets such as stable coins and invested gold -covered token to secure yourself against price fluctuations.
stablecoins and gold tokens were able to maintain their ties, especially to the specific asset that the tokens are connected, such as: B. the US dollar or a troy ounce 0.999 fine gold. On the other hand on reserve base rebase-token experienced massive losses for the last two weeks. The entire list of more than two dozen rebase tokens that are listed after market evaluation has a value of $ 1.63 billion because it lost $ 11 % on the last day. The crypto-asset Olympia (ohm) fell by 39.3 % last week and is 95.3 % below the crypto-asset of $ 1,415 per unit ath.
Wonderland, an Avalanche project based on the Olympus protocol, saw its two native crypto-assets Wunderland (time) Wunderland (wmemo) follow the same fate as ohm. Time's slump in the last two days was worse than the decline of Ohm, since weekly key figures indicate that Time's course has fallen by 61.8 %. Wonderland (Time) lost 96.4 % of its value since it tapped an ATH of $ 10,063 three months ago.
Wonderland project surrounded by controversy
In addition to the big losses, the creators of Wonderland have recently been examined. according to to a crypto supporter on Twitter, member of the Wonderland-Teams @0xsifu or "sifu" helped to found the bankrupt Canadian crypto exchange quadrigacx with their founder Gerald Cotten. Quadrigacx broke out in 2019 and there were many controversy around Gerald Cottens death and his employees. Sifu managed the Treasury of Wonderland with the founder of the project, Daniele sestagalli . In a blog post, Sestagalli confirmed the fore Regarding Sifu and further emphasized that Sifu had to resign from his Wonderland role.
sestagalli wrote:
Now that I have taken some time to think, I decided that he had to step back until a vote for his confirmation has taken place. Wonderland is in charge of who manages his treasury, not me or the rest of the Wonderland team.
sestagalli also discussed the problems of the community with Sifu on Twitter. "I have no bias to @0xsifu, he has become a friend and part of my family, and if my call of judgment is hit by his dox, then be it. href = "https://twitter.com/danielesesta/status/1486591442457796609?s=20" Rel = "noopener"> said . "While I fight for him, I will fight for anyone else who has proven to be a good actor for me despite the past," he added.
HARDCORE WONDERLAND supporters are referred to as "frogs" and in addition to the disputed problems with SIFU, frogs are also stirring over the falling price. Wonderland-based Twitter threads and the team's discord and telegram channels are full of angry frogs.
"We shouldn't have to pay for their misjudgment", said one person wrote on Twitter. "Simply offer [a] clear reimbursement or right to the ship. You say he needs [a] second chance. Wake up, there are also dodgy machinations in the project."
The Wonderland Protocol itself is also connected to popular defi projects such as the stablecoin magic internet money (mim), popsicle finance and abrakadabra.geld . Since Ohm, Time and WMEMO have suffered enormous losses in value, the market capitalization of Rebase tokens has also decreased significantly. Ampreforth (Ampl) lost 17.4 % last week and the edited cartel (BTRfly) lost 69 % within seven days. Klima Dao (climate) has lost 34.2 % in the last seven days and Temple Dao (Temple) lost 31.2 % of value last week.
What do you think of the rebase-token market route and the controversy about the Wonderland project? Share your opinion on this topic in the comment area below.
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