Wemade to Provide Liquidity on Uniswap, Establishing the Foundation for Global Expansion
Wemade, a South Korean game and blockchain company announced that they are set to provide liquidity on Uniswap, the largest Decentralized Exchange (DEX) on Ethereum. This is the first time Wemade provides liquidity with the Ethereum ecosystem and the move signifies WEMIX’s biggest step towards global expansion.
Wemade announced that it had created the WEMIX/USDC pool in Uniswap V3, which mainly features its ‘Concentrated Liquidity’ for better capital efficiency. A total liquidity of 1.6 million WEMIX was provided, in which 0.8 million WEMIX and additional USDC worth 0.8 million WEMIX tokens were used for creating a pair pool on Tuesday. That is, 0.8 million WEMIX reserved by Wemade were exchanged into USDC, and all of the exchanged USDC amounts were provided to create the WEMIX/USDC pool.
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Wemade has worked closely with Multichain to open a bridge for WEMIX from Klaytn to Ethereum, and used this bridge to provide liquidity. Cross-Chain interactions (Klaytn <> Ethereum) require a highly credible bridge partner that can provide safe ways for different blockchains to communicate. Multichain Bridge is the biggest bridging platform which connects EVM (Ethereum Virtual Machine) chains, and it has plans to support bridging WEMIX3.0 mainnet in the near future.
WEMIX has been known to have a clear ‘utility’ on its blockchain platform. Wemade strives to become a leading blockchain company by expanding WEMIX’s usability providing liquidity on Uniswap. Wemade expects to see innovative blockchain services and projects to be coming up on the Ethereum ecosystem utilizing WEMIX. At the same time, Wemade has its own plans to launch new De-Fi and NFT services on Ethereum base in the near future.
Henry Chang, CEO of Wemade, said “We believe that being a Liquidity Provider on Uniswap of Ethereum network is a huge step forward in the global blockchain market.” Henry added, “This opportunity will open the door for WEMIX ecosystem for a quantum breakthrough with its interoperability with WEMIX3.0 mainnet and we will continue our best efforts until WEMIX stands firm as a ‘key currency’ in the global blockchain market.”
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