Wonderland is a decentralized autonomous organization (DAO) which launched on the Avalanche network in September 2021.

Wonderland followed a multiphase approach which consisted of 5 phases:

• Phase 1: Expansion
• Phase 2: Governance
• Phase 3: Capital Deployment
• Phase 4: Eliminating Dilution
• Phase 5: Multichain

Phase 1: Expansion using Mints

After launching the protocol on Avalanche, Phase 1 of Wonderland was initiated. This phase focused on community growth and treasury diversification. In order to achieve a strong foundation the Bonding process from OlympusDAO (Minting process on Wonderland), was adopted to grow Wonderland’s treasury.

A variety of tokens, including LP tokens were offered in the minting process which allowed users to exchange discounted TIME on Wonderland.

Phase 1 and the use of the Minting process successfully grew the treasury and community into one of the biggest DAOs

Actively managing the treasury continues to grow the DAO by deploying its funds in a variety of yield generating opportunities. The token distribution has resulted in one of the most diverse and fair launched DAO’s to date with the team holding less than 5% of the token supply. Paving the way for the community to take over the protocol.

Phase 2: Governance

In order to create concise, clear and unambiguous proposals, a governance framework was introduced in December 2021. Phase 2 of the protocol aims to empower the community with tools and guidance in order to craft proposals. These proposals include funding new projects, electing treasury management and making decisions which shape the future of the protocol.

Phase 3: Capital Deployment

The third phase of Wonderland focuses on using the treasury to deploy capital in early projects and create value for the DAO by tapping into a multitude of industries.

A diverse set of investments from NFTs, P2E and gaming, to infrastructure such as liquid staking and defi products are actively pursued. Building up a portfolio across the board is bringing additional opportunities and revenue to the DAO.

Phase 4: Eliminating Dilution

The Wonderland treasury has successfully grown to $1B USD. The treasury has acquired a well diversified basket of assets, which are being used to generate yield and invest into early projects.

While the Mint function is an excellent way to attract assets to the treasury, it does come with a token dilution which overall creates downward pressure on the price.

This new update to the Mint mechanism, completely eliminates the dilution and an instant stabilizing effect can be seen on the wMEMO token price.

Remember, this new change does not affect rebases. Rebases continue to occur since they are considered non dilutive inflation!

With Phase 4 initialized earlier this week, no more tokens are being minted and sold at a discount. The wMEMO supply becomes capped and dilution ceases to exist in the protocol.

Phase 5: Multichain

Wonderland already deploys capital for projects as well as yield on multiple chains. In an ever growing ecosystem of L1’s and L2 solutions, Wonderland needs to grow as a multichain protocol. Phase 5 of Wonderland focuses on strengthening the protocol’s presence on several chains. Token liquidity to make the protocol tradable across the most popular blockchains will set a new foundation to increase composability and create new possibilities.

Going forward, several new token mechanisms and strategies can be implemented through the governance process. A token burn event is currently being discussed as an [RFC] Proposal on our forum, which can be implemented as a WIP, to allow the community to take control over the token supply and reduce it further to increase its value.

To stay up to date, join our Wonderland Discord Server, the Wonderland Governance Forum and follow us on Twitter.