Just lost $15,865 with Wonderland (TIME): Too good to be true??

hey friends andy here how you doing good to see you in this video i'll be talking about defy specifically earning interest in the wild wild west of defy and your bank account your savings account you might be earning 0.5 apy and you might be thinking ooh that is not good enough so i'm gonna move my money over to blockfire celsius something and earned nine or ten percent apy on a stablecoin but then you might very quickly go that's old news i want something more so you move your money over to anchor and you earn 20 apy but now now you have a taste now you want more so naturally you hop online you find this thing called a wonderland with this coin called time and you see that it has an 89 000 percent apy and you go you know what that that's for me well in this video that's exactly what i'm talking about i'm going to be deep diving into wonderland not only am i going to tell you what it is why you should care about it or not whether i think it's legitimate or a scam but also tell you how much money i put into it and spoiler alert how much money i've lost so if all that sounds good to you well then alice let's hop on down the rabbit hole into the wonderful land of wonderland but first please take the time see what i did there and click that like button and while you're down there and thinking about celsius use the link in the description to get 50 of bitcoin for free when you sign up and do a transfer with celsius who doesn't love free btc all right let's start talking some time [Music] so here i am on the wonderland dot money website it is wonderful there's the cheshire cat right cheshire cat cheshire cat so here i am on wonderland.money the homepage for time and wonderland project this is the defy wonderland it is a very simple website it just shows you uh the total state the treasury balance and the current apy which is 88 861.4 percent is this insane is this nuts the answer is yes it is and of course the tagline of financial tools to grow your wealth stake and earn compounding interest ambiguous sure so the project is wonderland but the token or the coin is time here we are on coin gecko we can see the current price for one time is thousand one hundred and forty nine dollars and forty one cents and today it's down twelve percent it's ranked 135 so it's not even in the top 100 list and if we come down here to the price and we look at the max we can see that first price on here was 723 and it peaked at 9702 just over a month ago and now we're all the way back down to three thousand one hundred and forty nine dollars uh this actually shows the all-time high of ten thousand and shows that we're down sixty-eight percent since then so quite the little correction i did not buy any time at all time high but i bought it not too far off that so what is time well on their home page they have a documentation button here so you can click that and it'll take you right here to the docs.wonderland.money it says right here what is wonderland well wonderland is the first decentralized reserve currency protocol available on the avalanche network based on the time token each time token is backed by a basket of assets example given mim avax lp tokens etc etc in the wonderland treasury giving it an intrinsic value that it cannot fall below wonderland also introduces economic and game theoretic dynamics into the market through staking and minting well there are two main strategies for market participants staking and minting thus far i've only done staking i have not ventured into minting yet and i think most people are probably going to try out staking first before they venture into minting but basically the protocol mints new time tokens from the treasury the majority of which are distributed to the stakers so the protocol makes new coins and those new coins are given out to the people who are staking their coins that's how you earn your return um it's also worth noting that wonderland is a fork of olympus dow ohm but they have made a variety of changes including the fact that the person who runs wonderland the founder daniela who is very active on twitter has a lot of followers very vocal and active throughout the entire crypto space danielle has basically been the sole curator and controller of all of the assets within time wonderland where something like ohm has the dow governance managing all that stuff with votes and all this good stuff that kind of checks and balances time has basically been up to the whim of daniella up to this point i say up to this point because they are actually switching to a governance model like ohm however i would say that danielle has done a pretty phenomenal job with the management of the project thus far and the management of all those assets so it's really pros and cons to both sides but that is the direction it is going currently so let me jump into the app here and when you first get in to the app and here on the dashboard it shows you the time price which is three thousand one hundred and forty four dollars shows you the tvl or total value lock this is all the money that's locked up in to wonderland which currently is one billion one hundred and thirty three million five hundred seventy thousand four 468 dollars shows you the market cap of 1.7 billion the current apy of 88 952 again every time i say that number it feels silly when i say it out loud but there it is but if you go right here to stake you see this very simple ui tells you exactly when the next rebase and payout is going to be then you connect your wallet i'm going to connect my meta mask and you will see i currently have 8.85 memo which is actually the time i have staked and you can see my next reward payout is going to be 0.055 memo or time so the next time i get paid i'm going to be getting paid 173 and that would be happening in the next seven hours and 13 minutes and if i take the amount i currently have in total you can see that i have just over nearly twenty eight thousand dollars usd in time so that begs the question have i made money have i lost money i have lost money in fact let me pull up my portfolio here so again i have 8.85 time which has a market value of almost 28 000 but my total cost basis for all my time that i own is 43 774 aka andy your friend andy has lost 15 785 dollars so far or about a 36 loss so why have i lost money well a lot of the time that i purchased i purchased right around here right around the 77 to 76 hundred dollar mark and then when it started to fall i bought more at around 5500 and then today in fact i bought two additional time for right around thirty three hundred dollars each so i've been averaging down and some of my lower purchases haven't actually had time to compound yet and because of those facts i'm not really worried about this because the way time works is going to continue compounding yes the price can fall but i think the accumulation of more time earned will eventually overtake the potential losses in fact let me go here to the calculator and show you what i'm talking about so again i'm at twenty seven thousand eight hundred dollars roughly right now and if i fast forward this to two weeks from today i will be at thirty six thousand so basically i need to keep scrolling ahead in 24 days if the price stays the same i will go back to breaking even on my initial investment in 24 days now of course the price of time goes up this shortens but if it goes down then this lengthens but eventually i will catch up by earning more time however in 24 days i will have 13.8 time 13.8 and then let's say time goes back up to 7 000 you will see that i will have almost 100 grand at that point so if the market moves this whole calculation changes very very rapidly but let's say it doesn't let's say things stay right the same or for the next several months time stays right around 3000 or so at dollars well let's look here in 30 days my time will be worth 48 000. in 60 days two months from now it'll be worth 85 000. i will have 27 time three months from now 90 days i will have a eight 148 dollars or 47 time now i think the real magic starts to happen after about the 90 day mark this is where compounding kind of takes off and you see here at 120 days i have almost two hundred and sixty thousand dollars for the time and let's scroll all the way to a year this is this is insane in a year i would have 7863 time or how many digits are we talking here or 24 million dollars now do i think that that is going to happen um probably not i don't know a lot of a lot of things can happen between now and a year from now but i think this goes to show how the compounding of time works and how wild it is and why i'm so excited about experimenting with this project now once i get to the place where i'm back to breaking even i will probably start to take some profit off the table just to get some of my money back i might even take all of my initial investment back out and hang on to it and then let the rest ride and just see what happens and how high and how far this goes or depending on what the rest of my portfolio does if everything else is just like skyrocketing that i might just let this whole thing ride without taking my money back out my plan is to hopefully keep you updated as this progresses and as new things develop i think defy is crazy it's weird it's wild i'm very excited to experiment with it but i am not putting all my eggs into this basket of defy i'm keeping a lot of my money most of my money into the other things like bitcoin and my big flux position stuff like that and i'm experimenting with some of my play money that i can throw into these things and see what happens at the very least i make some content some videos for you so in conclusion that is my current experience with wonderland now i do want to be super clear here that i think this is a very risky place to put money now compared to other projects like the video i made on wednesday i'm not necessarily thinking this one's going to be a scam however i think the nature of it means it could collapse i really like the people behind it i think the project is super rad so i don't know that that's going to happen anytime soon but it is certainly not a traditional or simple uh crypto investment and it could fold so please be careful with your money when you put your money into something like this only put money into it that you're really truly willing to just throw away but i do hope it all works out for all of us i hope you all become time millionaires because that would be amazing but uh who knows we will see so with that in mind let me ask you are you in time are you playing around with wonderland do you have money in here do you have as much you have more than me am i nuts am i crazy doing this what do you think about projects like this is this sustainable can they actually back this up with these synthetic assets that they're building what does the future of time look like in your opinion i'd love to hear from you because obviously this project has a lot of people excited and uh talking about it and when i posted in my community post on youtube a lot of y'all chimed in timed in so i know y'all are excited about this one so i'd love to hear from you now if you are curious about other wild risky d5 projects well then check out this video right here and watch this video if the idea of earning passive income with your crypto is super interesting and something you want to look into otherwise i will see you in the next video goodbye

Channel: Your Friend Andy

Views: 37,960

Keywords: wonderland time, wonderland time staking, wonderland time crypto calculator, wonderland time explained, wonderland crypto staking, time crypto explained, how much i made with wonderland, how much i made with wonderland time, how much i lost with wonderland, can you lose money with wonderland, is wonderland time staking legit, should I invest in wonderland, how does wonderland time work, time vs ohm, time vs hec, best defi staking platform, best defi 2022, defi 2022

Id: CWqOFbsdTYc

Length: 12min 26sec (746 seconds)

Published: Fri Dec 17 2021