[Press_Release] Wemade’s First DeFi Protocol, KLEVA, Surpasses $400M
#Wemade #WEMIX #KLEVA #Klaytn #DeFi #blockchain
“Wemade’s First DeFi Protocol, KLEVA, Surpasses $400M”
- TVL (Total Value Locked) surpasses $400M
- About 43% of KUSDT on Klaytn deposited
Wemade’s DeFi protocol service, KLEVA, which was launched on January 19th (7:23 p.m. KST), is showing rapid growth in the market.
TVL (Total Value Locked) has exceeded $420 million dollars in less than six days as of Jan. 25th 9 a.m. KST. While the TVL of Klaytn-based DeFi protocols have been declining, only KLEVA has shown a rapid surge.
With about 43% of Klaytn’s stablecoin KUSDT deposited in KLEVA, it is evident that investors are valuing its potential.
Furthermore, farming, a main function of the KLEVA protocol, is expected to be released this week. Through farming, you can utilize KLEVA’s signature service called leveraged yield farming.
DeFi is a technology that provides financial services using blockchains and smart contracts without having to rely on centralized institutions. DeFi traders deposit their virtual assets and provide liquidity to receive a reward in return — this process is called yield farming.
“KLEVA’s TVL is increasing rapidly and emerging in the DeFi market,” said Henry Chang, CEO of Wemade. “Wemade will expand its DeFi service to Ethereum and release various services to become a leader in the DeFi field.”
WEMIX is Blockchain Gaming Platform developed by Wemade Tree Pte. Ltd, providing services including Cryptocurrency Wallet, Token Exchange, Game Item Trade and Game Gateway. Wemade Tree Pte. Ltd is subsidiary of Wemade, the Developer and Owner of “The Legend of Mir” IP, highly successful game with over 500 Million users.
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