WeFi

As the leaves change color and the air turns crisp, we extend a warm welcome to the November edition of the WeFi Monthly Newsletter. With the autumn season in full swing, we’re excited to continue keeping you in the loop about the latest happenings in the world of WeFi and the ever-evolving landscape of decentralized finance (DeFi).
Over the past month, the DeFi space has continued to be a hive of innovation and progress, with new projects emerging and the established ones pushing the boundaries of what’s possible. At WeFi, our dedication to leading the DeFi revolution remains unwavering. We’re here to provide innovative, accessible solutions to investors worldwide, empowering you to navigate the intricacies of DeFi with confidence.
In this edition, we’ll delve into the significant updates and events that unfolded in October, and we’ll explore the exciting opportunities that lie ahead in the DeFi space. From emerging trends to invaluable insights, our goal is to guide you through the ever-changing world of DeFi, helping you make informed investment decisions. So, grab your favorite warm beverage, settle in, and let’s journey deeper into the realm of DeFi together.
DEFI Updates-
The market capitalization of DeFi assets is up 15% to $49.4B, a three-month high. Similarly, total value locked (TVL), a measure of the amount of assets deposited in DeFi protocols, has crossed $40B for the first time since August.
<ol>
 <li>The CEO of the troubled crypto custodian Fortress stepped down amid staff layoffs and a failed acquisition by Ripple. (<a href="https://fortune.com/crypto/2023/10/24/fortress-ceo-scott-purcell-steps-down-layoffs-ripple-acquisition/?_gl=1*1qdeh37*_ga*S3lmY1BCc1hubWpWMnBrRjh2NHU0OExNY3BhZjA4dTFoMEtqU3JQdmNkU1J4eDREaVdZSFlYYTVsazZ0WlExag.." rel="noopener noreferrer nofollow">Fortune</a>)</li>
 <li>According to the bankruptcy estate, FTX is negotiating with three bidders to restart the failed exchange. (<a href="https://www.bloomberg.com/news/articles/2023-10-24/ftx-is-negotiating-with-three-bidders-to-restart-crypto-exchange?sref=QYWxDQ1o" rel="noopener noreferrer nofollow">Bloomberg</a>)</li>
 <li>Binance continues to spar with U.S. regulators as it contests a lawsuit from the CFTC, arguing that U.S. law does not “control the world.” (<a href="https://www.coindesk.com/policy/2023/10/24/binance-again-seeks-to-nix-incendiary-cftc-suit/" rel="noopener noreferrer nofollow">CoinDesk</a>)</li>
 <li>The bankrupt crypto lender BlockFi announced it has initiated its recovery plan and started to repay customers. <a href="https://decrypt.co/203099/blockfi-ends-bankruptcy-prepares-to-return-customer-funds" rel="noopener noreferrer nofollow">(Decrypt)</a></li>
 <li>The price of Bitcoin continues to soar, with publicly traded crypto companies like Coinbase and MicroStrategy rising in value alongside the rally. (<a href="https://fortune.com/crypto/2023/10/24/bitcoin-35000-coinbase-microstrategy-spot-etf/?_gl=1*4vqnlp*_ga*S3lmY1BCc1hubWpWMnBrRjh2NHU0OExNY3BhZjA4dTFoMEtqU3JQdmNkU1J4eDREaVdZSFlYYTVsazZ0WlExag.." rel="noopener noreferrer nofollow">Fortune</a>)</li>
</ol>
Crypto Market Updates-
It’s been a stellar week for BTC, with the world’s most valuable cryptocurrency up 7% in the last 24 hours and 18% in the past week. The action has been driven by speculation that BlackRock’s spot Bitcoin ETF may be around the corner.
ETH is currently trading well above its 100-day moving average of $1,700 which acts as an immediate support level. Its RSI reading is at 71, cruising in overbought territory. If ETH successfully breaks and holds through the $1,835 barrier, it may retest the $1,900 levels. This may depend on Bitcoin continuing to do well.
WeFi Updates
We’re back with another exciting edition of the WeFi Community Newsletter, bringing you the latest updates, rewards, and exciting events that have unfolded in the world of WeFi. It’s been an eventful month, and we can’t wait to share the fantastic developments with you. Let’s dive right in!
1) <a href="https://x.com/LineaBuild/status/1719058944763523451?s=20" rel="noopener noreferrer nofollow">WeFi Launches its Mainnet dApp on LineaBuild Network</a>
WeFi’s Mainnet debut on LineaBuild Network is a game-changer for DeFi enthusiasts. With a suite of dynamic features, including one sided lending pools that avoids impermanent loss, leveraged trading at 80% lower interest rates, seamless cryptocurrency swapping, and effortless cross-chain asset bridging, WeFi is your one-stop DeFi destination.WeFi doesn’t operate in isolation; it’s deeply integrated into the crypto ecosystem, with tokens like ETH, USDC, and BTC, reliable oracles from Umbrella Finance, and a DeX integration with Kyberswap. LineaBuild’s advantages in scalability, security, privacy, interoperability, and user-friendliness make it the perfect host for WeFi’s innovative DeFi solutions.
2) WeFi launches testnet on Linea and XDC testnet network
WeFi’s Testnet on XDC and LineaBuild introduces powerful lending and margin trading features, accompanied by a sleek, user-friendly interface. Enjoy faster transactions and advanced security measures. Plus, WeFi enhances liquidity and introduces the USDC stablecoin, broadening your DeFi options with optimal interest rates and increased token pairs on supported DEX platforms.Why Linea and XDC? Linea’s blend of scalability, security, privacy, interoperability, and user-friendliness sets it apart in the Layer 2 space, addressing Ethereum’s scalability challenges and enriching the blockchain ecosystem, whereas the XDC chain offers fast transaction speeds, low latency, and advanced security features.(<a href="https://www.beta.app.wefi.xyz/" rel="noopener noreferrer nofollow">Try the testnet</a>)
3) WeFi’s Participation in Linea DeFi Voyage
We’re thrilled to announce that WeFi will be participating in Linea DeFi Voyage in three waves: the bridge, LP (liquidity provider), and trading wave. Stay tuned for more details, which will be revealed closer to the event.For in-depth information, <a href="https://twitter.com/LineaBuild/status/1716440617385914553" rel="noopener noreferrer nofollow">watch the Linea video to discover how WeFi is shaping the future of decentralized finance</a>.
4) Beta Testnet Warrior Campaign: Join the Multichain Adventure
WeFi has unleashed the Beta Testnet Warrior campaign, and we invite you to embark on multi-testnet chains adventure on WeFi beta through Galxe. By participating, you stand a chance to win a share from pool of the impressive 200,000 WEFI tokens prize pool. Join us as we explore the multichain world together.
(<a href="https://twitter.com/wefi_xyz/status/1709926055249867128?t=mb4GHPSB-5KEvhYQfFXuIg&amp;s=19" rel="noopener noreferrer nofollow">Join the campaign</a>)
5) We are thrilled to announce an exciting addition to the WeFi ecosystem: The integration of Umbrella Network.
Umbrella Finance provides reliable and up-to-date data to WeFi, ensuring that the information you rely on is accurate and current.
(<a href="https://twitter.com/UmbNetwork/status/1712466650547806274" rel="noopener noreferrer nofollow">WeFi integration: Umbrella network</a>)
6) Rewarding Success
WeFi is delighted to announce the successful distribution of prizes for our WeFi×zkSync master, WeFi holder- TaskOn, Referral campaigns. We appreciate the unwavering support from our community, and this initiative has been a great success, thanks to your active participation.
(<a href="https://docs.google.com/spreadsheets/d/1Ltd3saHUQK4htCqKSoG0kDeeaCA0pyN_TKDFNFF6kkU/edit?usp=drivesdk" rel="noopener noreferrer nofollow">See the Winners list</a>)
7) “Crypto Secrets” Event: A Grand Success in Dubai
WeFi joined hands with XDC, LBank Exchange, Encryptus Global, and FoundershipHQ to host the “Crypto Secrets” event in the vibrant city of Dubai. The event was a grand success, and we’re thrilled to have been a part of it. Stay tuned for more exciting collaborations and events in the near future.
(<a href="https://twitter.com/wefi_xyz/status/1715357907481465274?t=FTnjmrh7uc7aH0JFx7fkBA&amp;s=19" rel="noopener noreferrer nofollow">See the snapshots from the event</a>)
8) Exciting Giveaway campaigns across <a href="https://galxe.com/WEFI/campaign/GCq28UCuEV" rel="noopener noreferrer nofollow">Galxe</a>, <a href="https://rewards.taskon.xyz/campaign/detail/12888" rel="noopener noreferrer nofollow">TaskOn</a>, and <a href="https://www.intract.io/quest/6516e40caa57a06fe927d168?ref=EXPLORE" rel="noopener noreferrer nofollow">Intract.</a>
At WeFi, we are dedicated to creating opportunities for our community to earn and grow. To make this a reality, we’re thrilled to announce a series of exciting giveaway support campaigns on TaskOn, Galxe, and Intract. These campaigns are designed to reward you for completing short social tasks and participating in the WeFi ecosystem.
WeFi is committed to fostering a strong and vibrant community, and these developments mark just the beginning of an exciting journey. Stay connected, stay involved, and stay tuned for more updates.
Thank you for being a part of the WeFi community, and we look forward to an incredible future together!
<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>
<a href="https://medium.com/@wefi_xyz?source=post_page-----5276ca38e8a1--------------------------------" rel="noopener noreferrer nofollow"> </a>

WeFi newsletter — November Edition

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