WeFi

Welcome to the September edition of the WeFi monthly newsletter. As we transition into the autumn season, we are excited to keep you informed about the latest developments from WeFi and the dynamic world of decentralized finance (DeFi).The past month has been an eventful time for DeFi, with new projects and innovations emerging, and existing ones evolving. At WeFi, we remain committed to leading the DeFi revolution by providing innovative and accessible solutions to investors worldwide.In this edition, we will explore the significant updates that have unfolded in August and discuss the exciting opportunities that lie ahead in the DeFi space. From emerging 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 volatile at $40.5 Billion. Here are some quick updates from August 2023.<ul><li>Tether’s <a href="https://cointelegraph.com/news/tether-usdt-liquidity-cushion-transparency-report" rel="noopener noreferrer nofollow">latest reserves report</a> disclosed that it currently maintains a $3.3 billion liquidity buffer, spread across 15 blockchain ecosystems, to ensure stability within the USDT ecosystem.</li><li>Token withdrawals from Shiba Inu’s Layer-2 Shibarium Network bridge are <a href="https://www.coindesk.com/tech/2023/08/28/shiba-inus-highly-anticipated-shibarium-bridge-is-now-fully-functional/?utm_medium&#61;referral&amp;utm_source&#61;rss&amp;utm_campaign&#61;headlines" rel="noopener noreferrer nofollow">now available</a>, following a public restart due to <a href="https://www.coindesk.com/tech/2023/08/22/shiba-inu-plans-shibariums-public-restart-days-after-botched-launch/" rel="noopener noreferrer nofollow">software bugs</a>.</li><li>DeFi lending platform Curve Finance passed a proposal to <a href="https://twitter.com/CurveFinance/status/1688985710735323136" rel="noopener noreferrer nofollow">launch a new stableswap pool</a>.</li><li>Aave DAO has voted to secure <a href="https://blockworks.co/news/aave-dao-buying-crv-with-usdt" rel="noopener noreferrer nofollow">5 million CRV tokens</a> using $2 million worth of USDT. According to the Aave Chan Initiative (who submitted the <a href="https://governance.aave.com/t/arfc-acquire-crv-with-treasury-usdt/14251" rel="noopener noreferrer nofollow">proposal</a>), the move would help support the wider DeFi ecosystem and present an opportunity to bolster secondary liquidity for Aave’s stablecoin, GHO.</li><li>Sei Labs, the company behind Layer-1 blockchain Sei, has <a href="https://www.coindesk.com/markets/2023/08/15/sei-mainnet-is-live-after-testnet-sees-more-than-75m-wallets-created/" rel="noopener noreferrer nofollow">announced that its mainnet is live</a> following a testnet phase. Multiple exchanges, including <a href="https://crypto.com/product-news/crypto-com-app-lists-sei-sei" rel="noopener noreferrer nofollow">Crypto.com, is now supporting Sei’s native token, SEI</a>.</li></ul>Crypto Market UpdatesRisk aversion characterized the majority of August’s market activity. Bitcoin prices fell below the $28,000 support threshold for the first time since May. As the month drew to a close, renewed optimism received a lift from a highly anticipated court ruling. A court decision required the U.S. Securities and Exchange Commission to review its previous dismissal of Grayscale’s application to convert its Bitcoin trust into an ETF.As of 04 September 2023 Ethereum is trading at $1,637.66 in term of its USD rate with the price change of 0.03% in last one hour. ETH has a total marketcap of $196,876,259,619 with the 24 hour trading volume of $3,352,437,697.00. This makes Ethereum (ETH) ranking at 2 in the cryptocurrency market.Open interest in Bitcoin and Ether futures both saw gains (&#43;7.8% and &#43;22.1% respectively). Heightened institutional interest in Ether has likely been bolstered by recent filings for Ether futures exchange-traded funds (ETFs).WeFi UpdatesDEFI markets may be experiencing some bearish downside movements but at WEFI the project has launched multiple campaigns to foster community.Welcome to the September 2023 edition of the WEFI newsletter, where we bring you the latest updates and exciting developments from the world of decentralized finance and blockchain technology. This month has been filled with significant achievements, partnerships, and initiatives that will shape the future of WEFI and the DeFi landscape. Without further ado, let’s dive into the highlights!1) <a href="https://twitter.com/wefi_xyz/status/1686351055347470336" rel="noopener noreferrer nofollow">WEFI Launches Its Bridge Powered by Stargate</a>We are thrilled to announce that WEFI has successfully launched its bridge powered by Stargate! This cutting-edge technology allows for seamless token transfers between different chains, offering lightning-fast transactions and minimal costs. This marks a major milestone in our quest to provide a frictionless DeFi experience to our users.2) <a href="https://twitter.com/wefi_xyz/status/1686380488553095170" rel="noopener noreferrer nofollow">AMA with UnoRe</a>On 1st Aug, we had the pleasure of hosting an Ask-Me-Anything (AMA) twitter space session with UnoRe, a leading player in the blockchain and insurance space. This insightful session provided our community with the opportunity to interact directly with UnoRe’s team and gain valuable insights into the intersection of DeFi and insurance.3) <a href="https://twitter.com/wefi_xyz/status/1687094635053596672" rel="noopener noreferrer nofollow">LP Providers Contest — 20,000 WEFI Tokens Up for Grabs</a>In appreciation of our liquidity providers, we initiated a contest where the first 1000 LP providers received rewards from a pool of 20,000 WEFI tokens. Your dedication to the WEFI ecosystem is truly remarkable, and we’re committed to rewarding your support.We received the tremendous participation and to motivate members WEFI took the initiative and the rewards were distributed in two phases midway during the contest.4) <a href="https://twitter.com/wefi_xyz/status/1687460504250257409" rel="noopener noreferrer nofollow">Transaction Fees Commence from August, 2023</a>Starting this month, WEFI will begin generating revenue through small transaction fees. These fees include 0.1% for the lender’s withdrawal, 0.05% for leveraged trades (on placement and exit), and charges for liquidations. These fees will help sustain and further develop the WEFI ecosystem.5) <a href="https://twitter.com/wefi_xyz/status/1688164578385969152" rel="noopener noreferrer nofollow">Third Audit Completed by UnoRe</a>Trust and security are paramount in DeFi. We are proud to share that UnoRe has conducted the third audit of the WEFI platform, ensuring the highest level of safety and reliability for our users.6) <a href="https://twitter.com/wefi_xyz/status/1688873020935544832" rel="noopener noreferrer nofollow">Twitter Spaces with Router Protocol and Panelists</a>Router Protocol organised an engaging Twitter Spaces event featuring Mr. Pranjal Prashar and five other distinguished panelists. We delved into exciting topics related to DeFi, blockchain, and the future of finance. <a href="https://twitter.com/i/spaces/1YqGoADyeOBxv" rel="noopener noreferrer nofollow">Don’t miss out on this recording of insightful discussion!</a>7) <a href="https://twitter.com/wefi_xyz/status/1688883910099488768" rel="noopener noreferrer nofollow">Meet-up in Collaboration with Tax Nodes in Bangalore</a>In our commitment to fostering the blockchain community, we successfully conducted two offline meet-up at Bangalore, India.We recently collaborated with Tax Nodes in Bangalore, bringing blockchain enthusiasts together for an informative meetup. The event featured insightful discussions and networking opportunities, highlighting WeFi’s commitment to advancing blockchain knowledge.8) <a href="https://twitter.com/wefi_xyz/status/1689886203502542848" rel="noopener noreferrer nofollow">Introducing WEFI Beta: An Omnichain Platform for Swap, Leverage Trading, Bridging, and Lending!</a><a href="https://twitter.com/wefi_xyz/status/1689886203502542848" rel="noopener noreferrer nofollow">Tap to watch the exclusive trailer video</a>, We’re excited to unveil the WEFI Beta, a revolutionary omnichain platform that marks a significant leap forward in the world of decentralized finance. WEFI Beta is your all-in-one solution for swapping assets, engaging in leverage trading, seamless bridging between different chains, and lending with ease. It’s designed to empower you with a versatile set of tools and features, all under one roof.With WEFI Beta, you can expect a user-friendly interface, lightning-fast transactions, and a secure environment to explore various DeFi possibilities. We’ve carefully crafted this platform to meet the demands of our growing community and the ever-evolving DeFi landscape. Get ready to experience a new era of decentralized finance with WEFI Beta.9) <a href="https://twitter.com/wefi_xyz/status/1691427129869713408" rel="noopener noreferrer nofollow">WEFI Referral Program with $200 prize pool.</a>Introducing the WEFI Referral Program! Spread the word about WEFI, Create your unique telegram referral link and you can earn rewards for bringing new users into the fold. <a href="https://twitter.com/wefi_xyz/status/1691427129869713408" rel="noopener noreferrer nofollow">Details on this program is live on Twitter so join us and grasp this easy but rewarding opportunity for $200 rewards.</a>10) WEFI Launches Massive Airdrop Campaign<a href="https://buff.ly/3YUEwYr" rel="noopener noreferrer nofollow">Participate now in our 1 Million Airdrop Campaign!</a> We are giving away a share of million WEFI tokens to our community members as to motivate them in series of quests launched on various chains. Don’t miss this chance to be a part of this exciting giveaway.11) WEFI Launches WEFI x zkSync Master CampaignAs part of the 1 Million Airdrop Campaign, we are excited to introduce the WEFI x zkSync Master Campaign. Join us on the Galxe and Guild networks, participate in zkSync era mainnet and testnet activities, and win fantastic rewards. Join us now as only 6 Days are left.12) <a href="https://twitter.com/wefi_xyz/status/1696105728694481110" rel="noopener noreferrer nofollow">WEFI Launches Quests on TaskOn</a>Responding to our community’s demands, we’ve launched zkSync era campaigns on TaskOn. Complete easy on-chain quests to win from a prize pool of 5000 WEFI tokens. This is your chance to earn rewards while actively participating in the WEFI ecosystem.<a href="https://taskon.xyz/campaign/detail/9818" rel="noopener noreferrer nofollow">To an exciting update we have received over 300&#43; entries on TasOn and over 30 participants have qualified to win tokens.</a> Join us now as only 6 Days are left.Thank you for being an integral part of the WEFI journey. We are continually striving to bring you the best in DeFi, and your support is invaluable. Stay tuned for more exciting updates, and don’t forget to follow us on social media for real-time information.<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://t.me/wefi_xyz" rel="noopener noreferrer nofollow">Telegram</a> l <a href="https://guild.xyz/wefi" rel="noopener noreferrer nofollow">Guild</a> l <a href="https://galxe.com/WEFI/campaign/GCSWhUDrup" rel="noopener noreferrer nofollow">Galxe</a> l <a href="https://taskon.xyz/campaign/detail/9818" rel="noopener noreferrer nofollow">TaskOn</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 — September 2023 Edition

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