WeFi, a number one decentralized finance (DeFi) powered protocol, is happy to announce the launch of its upcoming alpha mainnet within the zkSync period. After a profitable alpha launch on Polygon in March 2023, WeFi continues to broaden its scope and capabilities.
As well as, WeFi will launch a liquidity marketing campaign on SyncSwap DEX, with 20,000 WeFi Tokens being rewarded to the primary WeFi Token holders and liquidity suppliers of SyncSwap’s WeFi/ETH pairs. The marketing campaign will run from July 14th to August 14th, 2023 and can provide attendees enticing incentives to hitch her WeFi ecosystem.
Wefi CEO Pranjal Prashar stated: “By introducing it to zkSync, WeFi goals to supply customers with quick, cost-effective transactions whereas guaranteeing enhanced safety and scalability. It is constant along with his WeFi dedication to delivering experiences.”
The latest launch of WeFi’s testnet model on zkSync marked an vital milestone for the venture with a staggering 12,000 whitelist entries on the primary day. The Whitelist marketing campaign will probably be lively via the tip of July, providing contributors the chance to hitch and acquire unique entry to mainnet apps and different perks.
Wefi has additionally listed its token on SyncSwap, zkSync’s most liquid decentralized trade (DEX). A consumer can now commerce WeFi with zkSync below the buying and selling pair WeFi/ETH. WeFi leverages the LayerZero OFT commonplace to make tokens accessible throughout varied blockchain networks.
Wefi’s zksync launch will permit liquidity suppliers to supply liquidity and earn enticing yields on Base and Reward APYs. Wefi will initially assist main tokens corresponding to USDC, USDT.
Customers can even contribute as little as 20% and benefit from 80% leverage to commerce different tokens corresponding to BTC, ETH and different tokens. WeFi platform rates of interest are 80% cheaper than different DeFi leveraged buying and selling protocols.
Wefi protocol over ZKsync can be assured. Each debtors and lenders are lined within the occasion of a hack or exploit. Wefi has accomplished three audits from distinguished firms together with Pecksheild, Unore and Quillaudits, however insurance coverage is a crucial and important service that the defi neighborhood values and appreciates.
zkSync is a Layer 2 scaling resolution on Ethereum designed to supply quick transactions at low fuel costs with out compromising safety. As a trustless protocol, zkSync leverages cryptographic proofs of validity to allow scalable and cost-effective transactions. By offloading computation and storing most information off-chain, zkSync ensures the identical degree of safety because the Ethereum mainchain.
WeFi is an on-chain “Composable Leverage Vault” protocol that operates in a permissionless and trustless method. The protocol will permit customers to take part in on-chain leveraged buying and selling, leverage farms and leveraged staking alternatives. WeFi permits customers to borrow cash to put money into fungible or non-fungible tokens, real-world tokenized belongings, or leverage yield farms and staking swimming pools. By implementing a walled backyard strategy generally known as Vault, WeFi mitigates danger for lenders. At present current on the Polygon chain, WeFi boasts a vibrant neighborhood of his 70,000 members throughout Twitter, Telegram and Discord. This protocol has undergone three of his audits, the most recent being performed by Pecksheild & UnoRe.
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