Avalanche Developer, Known for Minting Millionaires and Duds, Is Back With ‘WAGMI’ Tokens

Sestagalli’s previous Avalanche projects created a cult-like following in the 2021 bull run under the “frog nation” moniker.

Most of these projects went live without a presale to venture capitalists, earning early followers several multiples on their capital.

Sestagalli is behind formerly top Avalanche projects like Wonderland, a treasury-backed currency protocol, and Abracadabra, a platform that provides collateral based on yield-bearing assets deposited by users. SPELL, TIME and MIM – three tokens associated with the two projects – had a combined market capitalization of over $6 billion at their peak, data from CoinGecko shows, making Sestagalli one of the most influential developers in the crypto ecosystem at the time.

Popsicle Finance’s ICE, which lets users earn yields on supplying liquidity to trading pairs, reached a $660 million capitalization at its peak. However, the project was hacked for $25 million in mid-2021 – failing to fully recover since. However, these tokens have been down more than 95% since then, due to a lack of development, a generally bearish market environment, and a lack of interest in alternative currencies.

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