Home
News
- Daniele Sestagalli, the founder of Wonderland, has recently stated that he will roll out a DeFi project with new leveraged stablecoin yield farming.
- The founder vowed a new era in stablecoin yield farming, with up to 40x leverage.
- Sesta was criticized massively due to controversy and is now coming back in the DeFi space.
Daniele Sestagalli, the founder of Wonderland, has recently highlighted that he is to roll out a DeFi project with new leveraged stablecoin yield farming. This project is focused on the not-so-wealthy in the crypto space.
Sestagalli cited via his Twitter that the new pool or cauldron will allow retail DeFi traders to earn high yields from their stablecoins. He highlighted in a long thread of Tweets that the new focus of his development is a strong direction toward the core values that brought him here,
Users can earn over 80% interest or APY on deposits of DAI
The founder, who was earlier criticized for showing confidence in former convict Michael Patryn with Wonderland’s finances, promised a new era for stablecoin yield farming. And up to 40x leverage, which facilitates users to have a bigger position in any digital asset without paying the total price.
He signified that the very first cauldron would be with Yearn Finance, the Ethereum based protocol. The customers can earn over 80% interest or APY on deposits of the DAI stablecoin. However, he did not disclose the source of the yield.
The key component is to facilitate low available capital to be able to earn like a much bigger one, said a Tweet.
Frogs Nation is the name for the community comprising Wonderland (TIME), Popsicle Finance (ICE), and Abracadabra (SPELL). The participants address themselves as frogs. And it seems like Dani Sesta, as the founder is called, is trying to make his way back to DeFi.
In the month of February, he suffered reputational damage following the Michael Patryn scandal. Sesta got to know about Patryn’s eventful past but remained quiet. And he faced a lot of criticism for this.
Sesta is now hoping that this new stablecoin yield farming project will pave the way for important new changes with the dynamic interest rate to help stabilize the US Dollar peg of stablecoin Magic Internet Money (MIM), which is based on Abracadabra.
It is to look forward to if Dani Sesta can manage to fix his reputation with this new project.
ALSO READ: IDEG Asset Management Launches Actively Managed ETH Fund In Collaboration With Coinbase Prime
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
