WeFi, one of many main leveraged decentralized finance (DeFi) protocols, is happy to announce the upcoming alpha mainnet launch within the zkSync period. After efficiently launching its alpha model on Polygon in March 2023, WeFi continues to broaden its attain and capabilities.
Moreover, WeFi has launched a liquidity marketing campaign on SyncSwap DEX, the place 20,000 WeFi tokens will probably be rewarded for early WeFi token holders and WeFi/ETH pair liquidity suppliers on SyncSwap. This marketing campaign will run from July 14 to July 14 August 2023, offering contributors with enticing incentives to interact with the WeFi ecosystem.
Based on Pranjal Prashar, CEO of Wefi, “By deploying on zkSync, WeFi goals to supply customers with quick and cost-effective transactions whereas guaranteeing elevated safety and scalability. This strategic transfer aligns with WeFi’s dedication to supply an omnichannel person expertise.”
The latest launch of the testnet model of WeFi to zkSync, which garnered a formidable 12,000 whitelist entries on day one, marked a milestone for the challenge. The whitelist marketing campaign stays energetic all through July, providing contributors the chance to affix and acquire unique entry to its Mainnet utility and different advantages.
Wefi additionally listed its token on SyncSwap, the decentralized change (DEX) with the very best liquidity on zkSync. Customers can now commerce WeFi on zkSync underneath the WeFi/ETH buying and selling pair. WeFi leverages the LayerZero OFT customary to make its tokens accessible throughout totally different blockchain networks.
The zksync model of Wefi will allow liquidity suppliers to supply liquidity and earn enticing returns in Base and Reward APY. Wefi will assist main tokens corresponding to USDC, USDT at first.
Customers may even be capable to commerce fungible tokens corresponding to BTC, ETH, and different tokens by contributing simply 20% and taking 80% leverage. Curiosity on the WeFi platform is 80% cheaper than different DeFi leveraged buying and selling protocols.
The Wefi over ZKsync protocol may even be supported. Debtors and lenders will probably be lined within the occasion of hacking or exploitation. Regardless that Wefi has accomplished 3 audits of respected companies, together with Pecksheild, Unore and Quillaudits, insurance coverage is a vital and important providing that the defi neighborhood values and appreciates.
About zkSync
zkSync is a layer 2 scaling resolution on Ethereum designed to supply quick transactions with low fuel charges with out compromising safety. As a trustless protocol, zkSync makes use of cryptographic proofs of validity to allow scalable and cost-effective transactions. By offloading the computations and storing most knowledge off-chain, zkSync ensures the identical degree of safety because the Ethereum mainchain.
About WiFi
WeFi is an on-chain “composable leverage vault” protocol that operates in a permissionless and trustless method. The protocol permits customers to interact in on-chain leveraged trades, leveraged farms, and leveraged staking alternatives. With WeFi, customers can borrow funds to spend money on fungible or non-fungible tokens, real-world tokenized belongings, or leverage yield farms and staking swimming pools. By implementing a walled backyard strategy often known as Vault, WeFi mitigates danger for lenders. At the moment stay on the Polygon channel, WeFi boasts a vibrant neighborhood of 70,000 members on Twitter, Telegram and Discord. The protocol has been audited 3 times, the latest being by Pecksheild & UnoRe.
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Title: CMO
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