WeFi

Welcome to the August edition of the WeFi monthly newsletter. As we bid farewell to the scorching summer days, we are thrilled to keep you updated with the latest developments from WEFI and the world of decentralized finance (DeFi).The DeFi landscape has continued to evolve at an unprecedented pace, with new projects and innovations emerging every day. At WeFi, we remain committed to providing cutting-edge DeFi solutions that empower investors worldwide.In this edition, we will explore the most significant updates that have unfolded in July and look forward to the exciting opportunities that lie ahead in the DeFi space. From the latest trends to valuable insights, we are here to help you navigate the ever-changing world of DeFi and make informed investment decisions. So sit back, relax, and let’s dive into the world of DeFi together!DeFi UpdatesAccording to <a href="https://in.tradingview.com/markets/cryptocurrencies/global-charts/" rel="noopener noreferrer nofollow">Trading View</a>, The DeFi market cap currently looks on a support at $40.82 Billion. Here are some quick updates from July 2023:<ol><li><a href="https://news.bitcoin.com/vitalik-calls-out-centralized-world-stifling-crypto-innovation-tim-draper-adjusts-btc-price-prediction-and-more-week-in-review/" rel="noopener noreferrer nofollow">Vitalik Calls Out ‘Centralized World’ Stifling Crypto Innovation, Tim Draper Adjusts BTC Price Prediction</a></li><li><a href="https://www.binance.com/en/feed/post/648583" rel="noopener noreferrer nofollow">Aave’s Decentralized Social Media Platform Lens Protocol Releases New Governance Model</a></li><li><a href="https://news.bitcoin.com/blackrocks-bitcoin-etf-application-update-warnings-of-possible-reversal-in-xrp-ruling-and-more-week-in-review/" rel="noopener noreferrer nofollow">Blackrock’s Bitcoin ETF Application Update, Warnings of Possible Reversal in XRP Ruling</a></li><li><a href="https://news.bitcoin.com/us-second-in-world-by-debt-per-citizen-rare-bitcoin-block-reward-awakens-brics-summit-invites-week-in-review/" rel="noopener noreferrer nofollow">US Second in World by Debt per Citizen, Rare Bitcoin Block Reward Awakens, BRICS Summit Invites</a></li></ol>Crypto Market UpdatesJuly proved to be a captivating month for the crypto market, demonstrating resilience and presenting ample opportunities.Bitcoin traded within a narrow range for much of the month, with investors eagerly anticipating the potential approval of Bitcoin ETF applications filed by various financial institutions. Fortunately, noteworthy progress has been made toward these ETF approvals.The cryptocurrency sector also saw significant advancements in the area of regulation. Ripple’s lawsuit victory against the US Securities and Exchange Commission (SEC) not only boosted XRP’s valuation but also established a potentially pivotal precedent for other crypto projects mired in legal disputes with the SEC. This decision has rejuvenated investor confidence, destabilizing the SEC’s broad authority over cryptocurrency tokens by challenging its viewpoint that many of these tokens should be classified as securities.WeFi UpdatesAs we dive into the exciting updates from the past month, we bring you the latest developments and achievements within our community.1) AMA series with Frontier, HydDAO &amp; TrutsLast month, we had the pleasure of hosting a captivating Ask Me Anything (AMA) session, featuring esteemed representatives from Frontier, HydDAO, and Truts. The session shed light on their respective projects, insights into decentralized finance, and the collaborative efforts they plan to embark on WEFI. The AMA served as a fantastic opportunity for our community to engage with these trailblazing projects and gain valuable knowledge.Below are the links to AMA recap-<ul><li><a href="https://twitter.com/i/spaces/1dRKZMlqwdvxB?s&#61;20" rel="noopener noreferrer nofollow">AMA with Frontier Wallet</a></li><li><a href="https://twitter.com/i/spaces/1vOGwMyvZWgxB?s&#61;20" rel="noopener noreferrer nofollow">AMA with HydDAO</a></li><li><a href="https://twitter.com/i/spaces/1djxXllZQqvxZ?s&#61;20" rel="noopener noreferrer nofollow">AMA with Truts Protocol</a></li></ul>2) 10000&#43; Whitelisting entries received for Testnet on zkSync era network in just 7 days.In a remarkable feat, WEFIs whitelisting campaign on zkSync era testnet received over 10,000 entries zkSync’s era testnet in just a week. This milestone showcases the growing interest and confidence in WEFIs Dapp and investment protocol, Already providing fast and scalable transactions on Polygon, XDC and BSC.3) Verified CMC CommunityWe are proud to announce that our community has achieved verified status on CoinMarketCap. This recognition reflects our commitment to transparency, credibility, and providing accurate information to our users. As we continue to grow, this verification adds another layer of trust to our platform.<a href="https://coinmarketcap.com/community/profile/wefi/" rel="noopener noreferrer nofollow">Please show support by following our community on CoinMarketCap</a>4) Testnet on zkSync is LiveFollowing extensive testing and improvements, WEFIs much-anticipated on zkSync era testnet is now live. Users can experience the benefits of WEFIs exclusive features on zkSync firsthand, including near-zero gas fees and quick settlement times. The launch represents a significant step towards enhancing WEFI’s scalability and efficiency.<a href="https://twitter.com/wefi_xyz/status/1679465338579320834" rel="noopener noreferrer nofollow">WEFIs testnet live on zkSync era testnet</a>5) Reward Distribution for Bounty Program Campaign<a href="https://twitter.com/wefi_xyz/status/1680948032617979906" rel="noopener noreferrer nofollow">Our recently concluded Bounty Program Campaign witnessed an overwhelming response from the community.</a> We are delighted to announce that the rewards have been distributed to the deserving participants who contributed their time and skills to make this campaign a resounding success. Thank you for your dedication and enthusiasm.6) WEFI Token Listed on SyncswapThe WEFI token, a key component of our ecosystem, has been officially listed on zkSync’s era mainnet exchange<a href="https://syncswap.xyz/" rel="noopener noreferrer nofollow"> Syncswap</a>. This listing opens up new opportunities for liquidity and trading, enables swapping from USDC to WEFI, ETH to WEFI, etc. Further empowering our community members and bolstering the token’s utility.7) WEFI/ETH Liquidity Pool<a href="https://twitter.com/wefi_xyz/status/1685277998487072768" rel="noopener noreferrer nofollow">To enhance liquidity and accessibility, we are thrilled to introduce the WEFI/ETH liquidity pool</a>, We’re also delighted to inform you that WEFI was chosen to list in featured projects. Liquidity providers can now participate and earn rewards in APR by contributing to this pool, thereby strengthening our ecosystem’s overall stability.8) LP Reward ProgrammeIn appreciation of our loyal liquidity providers, we are launching the LP Reward Programme. By participating in this initiative, LPs can earn attractive rewards for their contributions to our platform. Stay tuned for more details on how you can get involved!<a href="https://medium.com/&#64;wefi_xyz/wefi-launches-lp-reward-programme-on-zksync-through-syncswap-for-500-winners-e42a898a3715" rel="noopener noreferrer nofollow">You can participate in the second batch of contest till 15th August, 2023 (Limited Winners hurry)</a>9) Bangalore Meetup in Collaboration with TaxNodesWe had a collaborative meetup in Bangalore, bringing together the brightest minds in the blockchain space. Partnering with TaxNodes, a leading authority on blockchain taxation, this event resulted as an informative and engaging experience. Networking opportunities and insightful discussions for all attendees.Read Details- <a href="https://twitter.com/wefi_xyz/status/1682304797599318018" rel="noopener noreferrer nofollow">https://twitter.com/wefi_xyz/status/1682304797599318018</a>10) Our launch of Bridge with Stargate<a href="https://twitter.com/wefi_xyz/status/1686351055347470336" rel="noopener noreferrer nofollow">To our most awaiting development, and a big achievement to go Omnichain Last month witnessed the launch of the Bridge powered by Stargate,</a> a groundbreaking solution that facilitates seamless asset transfer between different blockchain networks. This innovation marks a significant step towards interoperability and expanded utility for our community.The Bridge enables the transfer of WEFI, ETH, USDC, USDT, etc of tokens to multiple chains zkSync era, Polygon, BSC, etc on a low and comparative gas fees.Below Image shows comparison of WEFI bridge over other bridgesThat concludes our recap of the events that unfolded in July! 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.Join our community today to stay informed and engaged with all things WeFi:<a href="https://twitter.com/wefi_xyz" rel="noopener noreferrer nofollow">Twitter</a> l <a href="https://discord.com/channels/915517391520276510/981927627487068210" rel="noopener noreferrer nofollow">Discord</a> l <a href="https://blog.paxo.finance/" rel="noopener noreferrer nofollow">Medium</a> l <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>

WeFi Newsletter — August 2023 Edition

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