- Wellfield has deployed a novel ecosystem of smart contracts that create decentralized trading, hedging, and fixed income products with built in liquidity, directly connected to the billions of dollars of capital already deployed on Uniswap.
- This technology fills a significant market gap as institutional capital continues to move off centralized platforms and onto DEXs, like Uniswap, which generated over US$40 billion in volume in November 2022. These new spot trading venues are limited by an absence of decentralized hedging products and solutions that facilitate capital accumulation and liquidity at scale.
- Wellfield’s smart contracts are live on Ethereum, connected to Uniswap, with Wellfield giving select partners access to fixed income and volatility products in December 2022 and planned expansion to waitlisted clients in Q1 2023 before publicly launching later in the year.
Toronto, Ontario–(Newsfile Corp. – December 13, 2022) – Wellfield Technologies, Inc. (TSXV:WFLD) (OTCQB: WFLDF) (FSE: K8D) (the “Company” or “Wellfield“), today announced that it has launched the first of several distinct proprietary decentralized blockchain technologies in the Company’s IP catalogue. The Company plans to expand access from a select group of Wellfield Capital partners in December to waitlisted customers beginning in Q1 2023, and broader public expansion later in the year.
Decentralized Exchanges (DEXs) operate Automated Market Making (AMM) based trading which is distinct from traditional markets based on bid/ask order books. Uniswap, the largest DEX operating today, has attracted billions of dollars of capital, and generated over $1 Billion USD in spot trading revenues in the last two years alone by enabling participants to trade without counterparty risk or reliance on a centralized exchange operator. However, DEXs do not address certain challenges such as impermanent loss, capital inefficiency, and temporary low liquidity. Participants who deploy capital on DEXs lack robust decentralized solutions that mitigate price and volatility risks.
Wellfield fills a significant market gap and addresses these challenges with an innovative ecosystem of smart contracts that create decentralized trading, hedging, and fixed income products with built in liquidity, directly connected to the billions of dollars of capital already deployed on Uniswap.
Levy Cohen, CEO of Wellfield commented, “During the last year while instability and counterparty risk ruled, DEXs established themselves as viable alternatives to centralized trading platforms. However, DEXs do not yet provide all the solutions that sophisticated investors need to manage their operations. Large institutional investors will not enter on-chain markets in a meaningful way without access to liquid, decentralized risk management products and access to sophisticated trading vehicles. Wellfield’s offering addresses this need and is compelling in that it doesn’t compete for liquidity but rather it adds value to the capital deployed on Uniswap by offering decentralized, composable, and liquid risk management solutions.”
Mr. Cohen continued, “Additionally, this technology enables us to engineer fixed income products generating yield that is naturally derived from real trading fees collected on Uniswap. We believe that there is significant untapped opportunity for legitimate decentralized fixed income products in our industry, and we are excited to offer this to our institutional clients at Wellfield Capital and in the future our retail Coinmama customers through our self-custody mobile application.
This release is an important and exciting milestone for Wellfield, being the first decentralized technology that we launch as a company and valuable infrastructure for our industry. The commercialization of Wellfield’s portfolio of internally developed IP will create a new, high margin revenue channel for the Company, which we expect will contribute to future profitability.”
About Wellfield Technologies (TSXV: WFLD) (OTCQB: WFLDF) (FSE: K8D)
Wellfield is an R&D focused Fintech company that operates on public blockchains including Bitcoin and Ethereum. The Company operates a regulated platform that onboards customers globally at scale, leveraging its proprietary decentralized technology to offer highly disruptive on-chain self-custody solutions. Wellfield operates through two brands: Coinmama, which with a growing base of more than 3.5 million registered users, is one of the most trusted and enduring global brands operating in the crypto space; and Wellfield Capital, which the Company announced in late 2022 to meet the needs of institutional users and professional investors.
For further information contact:
Wellfield Technologies Inc.
Levy Cohen, CEO
Jonathan Ross, Investor Relations
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SOURCE Wellfield Technologies Inc.
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