Wellfield Deploys Powerful Decentralized Volatility & Fixed Income Products Based on Uniswap Liquidity
- 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[1]. 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[2] 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.
Management Commentary
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.
Join Wellfield’s digital community on LinkedIn and Twitter, and for more details, visit wellfield.io
For further information contact:
Wellfield Technologies Inc.
Levy Cohen, CEO
levyc@wellfield.io
Jonathan Ross, Investor Relations
investors@wellfield.io
(416) 283-0178
For media enquiries, please contact Kieran Lawler:
kieran.lawler@loderockadvisors.com
(416) 303-0799
Cautionary Notice on Forward-Looking Statements
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Company’s success in launching the protocols and other technologies and utilities discussed herein, the integration, expansion and continued revenue generation of Coinmama, and the anticipated strategic, operational and competitive benefits of the Acquisition;. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company’s and Coinmama’s business and results of operations; the anticipated launch of products may not be realized as intended or at all; the strategic, operational and competitive benefits of the Acquisition may not be realized; the impact of COVID-19; the decentralized finance industry generally, in Canada and abroad; and general business, economic, competitive, political and social uncertainties. Readers are cautioned that the foregoing list is not exhaustive and readers are encouraged to review the disclosure documents accessible on the Company’s SEDAR profile at www.sedar.com . Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Wellfield Technologies Inc.
[1] Dune.com/projects/uniswap
[2] Info.uniswap.org
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