• MOU with Ozys to be Wemade Tree’s first step into DeFi.
  • Unique DeFi protocol utilizing Wemix Token and game assets, such as game tokens and NFTs to be developed.
  • Klay-Wemix Token pair was added on Klayswap for accessibility and convenience.

Wemade Tree, a blockchain subsidiary of South Korean game maker Wemade, signed a memorandum of understanding with Ozys to announce its plan to enter the DeFi market.

Decentralized finance, unlike traditional centralized finance, offers decentralized finance services by means of smart contracts on a blockchain.

Wemade Tree is currently operating BirdTornado for Wemix and CaiShenChuanQi for Wemix on its own blockchain platform Wemix, and game tokens Tornado and CQ ZuanShi are being issued and used. As the company releases new titles, new game tokens and nonfungible tokens will be added. The Wemix Wallet service provides a decentralized exchange, on which the tokens can be traded, and an NFT market will be added in the first half of 2021. Wemade Tree aims to deliver a unique DeFi protocol, utilizing an ever-growing number of game tokens and assets.

Ozys is a leading South Korean DeFi and cross-chain technology company. Its Klayswap is a DeFi protocol based on Klaytn, a token developed by Kakao’s blockchain subsidiary GroundX. As of March 15, Klayswap’s liquidity pool size is 800 billion KRW, or $700 million, and the daily trade volume is approximately 70 billion KRW ($62 million). Earlier this year, Ozys launched Belt Finance, another DeFi protocol that operates on Binance Smart Chain.

Alongside the memorandum, Wemade Tree added liquidity on Klayswap to create the Klay-Wemix pair as its first step into the DeFi market. This move enables users all over the world to swap the Wemix Token without having to use a centralized marketplace, significantly improving accessibility and convenience.

Official Wemade Tree website: https://wemixnetwork.com/

Kurt Lee