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Hypothetically speaking it wouldn't be with Fierce deity but more along hylia's lines. From what we know of Fierce Deity he was apparently a worse evil than majora (or so Majora thinks) and most of the theories on tetraforce seems to think it's to do with time than anything else.

This has been debated and no it doesn't exist. I'd say though if you want an interesting read to find some of the threads on it though