Wonderland aims to be a decentralized cross-chain reserve currency backed by a variety of digital assets to ensure its "backing" never falls below the treasury's reserve price. Wonderland utilizes a rebasing process similar to Olympus DAO, the protocol of which it was originally forked, to reward token holders, generate revenue for the treasury, and increase the overall token supply.
On September 3rd, 2021, Daniele Sestagalli launched the Decentralized Finance protocol Wonderland Finance on the Avalanche network. The protocol was a fork of Olympus DAO, and was the first protocol to successfully fork the concept of its predecessor. Wonderland utilizes/utilized a phase of inflationary tokenomics in order to reward token stakers while also incentivizing investors to continue bonding/minting tokens for the protocol. The relationship was mutually beneficial as this process not only rewarded eager investors, but also generated revenue for the treasury. Wonderland sought to create a cross-chain reserve currency that provided stable value while acting as a source to provide liquidity for native DeFi protocols.
Wonderland exploded with the growth of the Avalanche network along with the rise of Olympus DAO forks. As these projects sustained drawdown in unison with the broader industry, both Wonderland and Olympus fell below their "backing prices". Additionally, it has since been revealed that Wonderland's Treasury Manager was Michael Patryn, a former Executive at Quadriga CX.
