Daniele Sestagalli, the founder of Wonderland (TIME), announced his return to DeFi in a disturbing tweet.
Wonderland’s Return
Sestagalli has been absent from the DeFi market for some time. The Wonderland DeFi platform was decommissioned in January 2022 as a result of a scandal involving the protocol’s treasury head, Michael Patryn. Following this incident, Sestagalli publicly announced his intention to leave the DeFi market. He even declared that the Wonderland experiment is drawing to a close.
On July 26, however, Sestagalli announced his return, along with that of the now-defunct DeFi protocol. He wrote on Twitter: Wonderland returns with more technology and less talking. I’m also back. And, whether you like it or not, the TIME has come for MAGIC to happen.
Video Teases Followers, MAGIC Return
Sestagalli’s tweet also included a short video that teased his followers about the Wonderland protocol’s return. The video includes a cryptic voiceover that says: Wonder, the land of wonder. You’ve forgotten about yourself, bro, and thus you’ve forgotten about TIME. You’ve come a long way. Remember your identity. You are now a ‘frog,’ and possibly the true explorer out to rebuild the one true realm. An avalanche of sand is much stronger than a grain of sand. But what good is moving sand if no one spends time with it? What a waste. Consider this: when the forest awakens in the future, the frog nation will triumph. You’ve made your decision, and this isn’t over.
The post provided no additional information about the nature of the comeback. The mentions of TIME and MAGIC, on the other hand, suggest that the Wonderland native token and the Abracadabra-based stablecoin Magic Internet Money (MIM) could make a comeback.
The Michael Patryn Epic That Destroyed Wonderland
The Wonderland DeFi protocol was developed on the Avalanche blockchain network and launched in late 2021 as a fork of Olympus DAO. Soon after its launch, the protocol reached a high of $1 billion in reserves. However, problems arose when it was revealed that the protocol’s treasury head, known as Sifu or 0xSifu, was actually Michael Patryn, the co-founder of the defunct crypto exchange QuadrigaCX.
Patryn, unfortunately, was also a convicted felon. Sestagalli apparently discovered Sifu’s true identity and criminal past but chose to remain silent, allowing him to continue his role as Wonderland’s head of treasury. When the protocol became aware of this information, all hell broke loose. A community vote formally removed Patryn from his Wonderland role, and the TIME token crashed. Sestagalli decided to shut down operations of the Wonderland DeFi protocol in January 2022, following another deeply divided community vote.
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