DeFi’s Wonderland Is Buying TIME

DeFi’s Wonderland Is Buying TIME
Decentralized finance (DeFi) protocol Wonderland saw its TIME token briefly drop below its treasury-backed value on Monday, prompting the team to buy back millions worth of TIME tokens to bolster the price.Wonderland falls within a category of popular DeFi projects known as “Ohm forks,” experimental protocols with aims of creating an independent monetary system. Yesterday’s incident appears to be the first time an Ohm fork has stepped in with buybacks, perhaps the crypto version of central banks carrying out quantitative easing.On Monday afternoon, the price of TIME plummeted 40% from $1,400 to $832 within a span of two hours before…