Wemade Reveals Teaser Sites for New DeFi Services: Kurrency and Konverter
Kurrency lets its participants deposit tokens as collateral to mint WEMIX Crypto Dollar (WCD) to stake and swap. WCD is a cryptocurrency that minimizes price fluctuations, and its role and that of the WEMIX Dollar, a stablecoin with 100% collateralization of USDC cryptocurrency, will be mutually complementary.
To design the new DEX Konverter, the strengths of existing decentralized exchanges (DEXes) were thoroughly analyzed and reorganized for efficiency. This includes the availability of functions necessary for effective Kurrency use including swaps between WCD and various stablecoins starting 9 June 2023. Konverter, which is expected to be officially launched in the latter half of 2023, will include more comprehensive swap services for more efficient exchange between cryptocurrencies and a governance function that is not restricted by compulsory lock-ups.
After launching on the WEMIX3.0 mainnet, Kurrency and Konverter will focus on expanding the use cases of assets on the network and vitalize the synergetic effects among DeFi dApps, thus enlarging the volume and utilization of the WEMIX mega-ecosystem as a whole.
Following future growth, and once usage of Kurrency and Konverter has advanced to a stable phase on the WEMIX3.0 mainnet, the two DeFi services are expected to evolve and expand cross-chain to multichain functionality. The ultimate goal is to deliver higher value derived from the WEMIX3.0 ecosystem through heightened interconnectivity among major blockchains.
Starting 2 June 2023, Wemade will be organising numerous Kurrency-related quests and activities through which users can gain experience points, in order to encourage participation from its community.
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