<p>Welcome to the July edition of the WeFi monthly newsletter. As we embrace the summer season, we are excited to bring you the latest updates from WEFI and insights from the world of decentralized finance (DeFi).</p><p>The past few months have witnessed remarkable developments in the DeFi landscape, with new projects emerging and existing ones evolving at a rapid pace. WeFi has remained dedicated to staying ahead of the curve, offering innovative and accessible DeFi solutions to empower investors around the globe.</p><p>In this edition, we will delve into the most significant updates that have unfolded in June and explore the exciting opportunities in the world of DeFi. From the latest trends to valuable insights, we are here to ensure you have the knowledge and tools to make the most of your DeFi journey.</p><p>So grab your favourite summer drink, sit back, and join us as we uncover the latest breakthroughs and unveil the potential that July holds for the DeFi community. Let’s dive in!<br /></p><h2 id="header-0"><strong>DeFi Updates:</strong></h2><p>According to Trading View, The DeFi market cap currently looks firm at $40.25 Billion. Here are some quick updates from June 2023:</p><ul><li>Polygon Unveils 2.0 Roadmap, Plans To Develop ZK-Powered Multi-Chain Scaling Solution</li><li>Aave’s Decentralized Social Media Platform Lens Protocol Releases New Governance Model</li><li>BlackRock Applies for Spot Bitcoin ETF for the first time with the aim of updating the $BTC price “at least” every 15 seconds during regular market trading using the CF Benchmarks Index.</li><li>Layer 2 Network ZkSync Unveils ‘Hyperchain’ Vision With ZK Stack, Era Mainnet Has Surpassed $600M In TVL As Airdrop Farmers Eye Potential Token</li></ul><h2 id="header-1"><strong><br />Crypto Market Updates:</strong></h2><ul><li>Bitcoin (BTC) and other major cryptocurrencies surged to new 12-month highs in June on news that major financial institutions were planning big new products in the digital assets space.</li><li>The renewed institutional interest in crypto sent Bitcoin surging to new 52-week highs above $31,300 in June, but Bitcoin pared back some of its gains in the closing week of the month. BTC ended June up 8.5% for the month, finishing the first half of 2023 above $30,600.</li><li>Ethereum (ETH) prices dropped 3.8% in June to close out the month at $1,871. Bitcoin has gained 80% so far in 2023, putting it on track for its best annual performance since 2020. Ethereum prices are also up 52% so far in 2023.</li><li>The total market capitalization of the global cryptocurrency market peaked at over $2.9 trillion in November 2021 but took a big hit during crypto winter in 2022. That market cap now stands at just $1.1 trillion heading into the second half of 2023.<br /></li></ul><h2 id="header-2"><strong>WeFi Updates:</strong></h2><ol><li><strong><a href="https://www.beta.vaults.wefi.xyz/" rel="noopener noreferrer nofollow">WeFi’s decentralized application (DApp)</a></strong>has been gaining popularity among crypto enthusiasts. To provide you with a better understanding of the potential returns, we’ve conducted a comprehensive ROI simulation. The gains from this ROI simulation shows massive returns by using WEFIs DApp .</li></ol><p><strong>2. AMA with DAOStruct:</strong>On 25th June, WEFIs founder Mr.Pranjal Prashar and DAOstruct host Saloni Jain held an AMA to further update the community on latest trends on DEFI and WEFIs preparation in it. You can listen to the recording here:</p><p><strong>3. Track WeFi Live Price Data</strong> <strong>on Binance, Crypto.com, Coinbase, OKX, CoinCarp, &amp; many more</strong></p><p><strong>4. WeFi Lending Pool — Unlocking APY Potential:</strong>June brought exciting developments for our WeFi Lending Pool. The average Annual Percentage Returns(APR) on our lending platform reached an impressive 105%. We encourage you to explore the opportunities offered by the WeFi Lending Pool and discover how to earn stable and competitive returns.</p><p><strong>5. Rewarded WeFi Gamma Farms — APR:</strong>Our WEFI Gamma Farms continued to deliver attractive yields in June. Users had the opportunity to participate in yield farming strategies that offered impressive APRs ranging from 133%. If you haven’t explored this aspect of our platform, now is the time to dive in and learn more.</p><p><strong>6. Testnet and Learn &amp; Earn Price Distribution:</strong>WeFi’s Testnet phase had been a resounding success, thanks to the active participation and valuable feedback from our community, As a reward for your contributions, we distributed prices for the Testnet and Learn &amp; Earn programs. Check discord channel for more details.</p><h2 id="header-3"><a href="https://discord.gg/2QqCvKZtgy" rel="noopener noreferrer nofollow">Join the WeFi Discord Server!</a></h2><h3 id="check-out-the-wefi-community-on-discord-hang-out-with-20754-other-members-and-enjoy-free-voice-and-text-chat">Check out the WeFi community on Discord - hang out with 20754 other members and enjoy free voice and text chat.</h3><p><strong>7. Community Updates: Market Insight Channel, Hall of Fame, and Joining WeFi:</strong>In June, we introduced <a href="https://discord.gg/ZWVX9kwc9d" rel="noopener noreferrer nofollow">the Market Insight Channel on our Discord server.</a> This channel provides community members with the latest market trends, expert analysis, and insightful discussions. <strong>Additionally, we launched the invite only Hall of Fame Channel to recognize and celebrate our most active community members with weekly token rewards.</strong> Join us in these engaging channels and become part of the thriving WeFi community.</p><p><strong>8. Enhancing Scalability with zkSync:</strong>WeFi made an exciting announcement in June — our partnership with zkSync, a leading layer-2 scaling solution for Ethereum.WEFI will be launching its Testnet and Mainnet on zkSync, This collaboration will improve WeFi’s scalability, enabling faster and more cost-effective transactions for our community.</p><p>As part of our partnership with zkSync, WeFi introduced an exciting opportunity for eligible community members. We launched 1000 whitelisting spots, offering selected users exclusive benefits and early access to upcoming features. If you’re interested in being part of this privileged group, we invite you to read our dedicated blog post. It provides all the necessary details and instructions on how to apply for whitelisting. Don’t miss out on this chance to stay ahead of the curve — head over to the blog and secure your spot today!</p><h2 id="header-4"><a href="https://blog.paxo.finance/wefi-whitelisting-for-zksync-is-now-live-294026006d63" rel="noopener noreferrer nofollow">Wefi whitelisting for ZKsync is now live.</a></h2><h3 id="wefi-is-excited-to-announce-that-wefi-will-be-launching-its-testnet-and-mainnet-on-zksync-very-soon">Wefi is excited to announce that WeFi will be launching its testnet and mainnet on Zksync very soon.</h3><p>That concludes our recap of the events that unfolded in June! Thank you for being an integral part of the WeFi community and joining us on this exciting journey toward decentralized finance. Stay tuned for more updates and announcements in the coming months.</p><p>Join our community today to stay informed and engaged with all things WeFi:</p><p><strong><a href="https://linktr.ee/wefi_xyz" rel="noopener noreferrer nofollow">Linktree</a> | <a href="https://discord.com/channels/915517391520276510/981927627487068210" rel="noopener noreferrer nofollow">Discord</a> | <a href="https://twitter.com/wefi_xyz" rel="noopener noreferrer nofollow">Twitter</a> | <a href="https://t.me/wefi_xyz" rel="noopener noreferrer nofollow">Telegram</a> | <a href="https://blog.paxo.finance/" rel="noopener noreferrer nofollow">Blog</a> | <a href="https://wefi.xyz/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://www.beta.vaults.wefi.xyz/" rel="noopener noreferrer nofollow">App</a></strong></p>

WeFi Newsletter - July 2023 Edition

Table of Contents

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