- Wonderland founder Daniele Sestagalli has publicized his return to DeFi.
- He said, claiming that “it’s time for magic to happen.”
In January 2022, the Wonderland founder, Daniele Sestagilli, left the decentralized finance sector after Michael Patryn’s wrongdoing. After leaving the sector, he issued a statement saying that the “Wonderland experiment is coming to an end.”
The founder took Twitter to announce his decision. He said that we are back with more technology and less talking and Time is now for the magic to happen. TIME is a native token of Wonderland.
Wonderland is one of the popular decentralized reserve currency protocols. The company is available and built on the Avalanche blockchain network following the Olympus DAO protocol.
According to the data provided by DeFiLlama, the company stood at a total value of $1 billion in assets at its crest but currently, it touched a bar of $6.3 million.
Daniele Sestagilli knew everything about Patryn’s crime but kept silent over the matter yet allowed Patryn to carry on with his job as treasury manager at Wonderland. After some time, Zachxbt, a crypto investigator and researcher, exposed the matter and made Sestagilli confess the truth.
After the news came into the market, all the tokens, along with TIME-related to Sestagilli, got smashed. The developer promised his clients to refund the amount, but he never did till date.
ALSO READ – Cardano Enters BNB Whales’ Top 10 Holdings
Sestagilli’s New Project
In April, the developer disclosed his plans to introduce a decentralized yield-farming finance project. The project is mainly targeting the ones with low funds.
He also assured us that his plan would bring a new era in stablecoin yield farming with many advantages. The advantages will include attaining any position without making the full payment.
The developer has many expectations with his projects as he wants the project to be accessible to everyone, sustainable growth, strong pegs, nominal interest rates, and much more.
Sestagilli is the leader of a group consisting of DeFi projects. Many companies are in this group like Abracadabra, Popsicle, Wonderland, etc. The group is collectively known as ‘Frog Nation,’ and the members are called ‘frogs.’
Conclusion
Everyone is expecting the comeback of the developer and founder of Wonderland. It will be a fresh start, and the mistake which has been made in the past will not be repeated.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/07/27/daniele-sestagilli-returns-to-defi-said-its-time-for-magic-to-happen/