By Exec Edge Editorial Staff
The world of Decentralized Finance—otherwise known as “DeFI”—is an exciting new financial sector. But its emergence is not without the obscurity that comes with new exchanges, platforms and parameters being developed on the fly. WonderFi Technologies Inc.(NEO: WNDR) (OTCMKTS: WONDF) seeks to change this dynamic by developing a comprehensive consumer-facing app that is intuitive and easy to maneuver. Both are critical elements towards fostering widespread adoption to a consumer base accustomed to interface simplicity.
DeFi is a nascent industry which cuts out the middleman entrenched in traditional centralized finance (TradFi). Now that money is pouring into the sector and the “curiosity” phase is morphing into an “actionable” phase, consumers are yearning to earn higher yields on their money. The biggest obstacle is that DeFi is overwhelming and difficult to access – an exclusive domain to financial professionals and crypto aficionados. WonderFi believes that such issues are preventing large-scale adoption of the technology, which inherently is meant to be democratized and accessible to all.
The WonderFi Technologies platform seeks to remedy this situation by allowing consumers to take control of their crypto finances. Its mission is to break down barriers by designing intuitive applications that all users can comprehend. Its flagship product (coming soon) is an intuitive platform that solves the fragmentation problems in DeFi by aggregating a single point for DeFi interactions between users.
In a broad sense, WonderFi Technologies’ mission statement is simple. It is committed to bringing DeFi to the masses through a suite of products and tools built on its core principles of simplicity and education. This mission statement isn’t just corporate boilerplate—WonderFi has placed a prime emphasis on delivering on this objective.
For instance, one of its founding investors is superstar TikTok influencer Josh Richards, who has over 43 million followers on various social media platforms (25.6 million followers on TikTok alone). More than just a fresh social influencer with musical talent, Josh has differentiated himself by providing financial education to the masses—particularly to Generation “Z” and millennials.
Josh’s core themes center around how currency actually works, who creates it, why inflation is running rampant with the inordinate increase in the money supply and more; the essential economic tenets that should be taught in secondary education but are disregarded.
Josh will also be a contributing member of WonderFi’s new podcast called Money Goals—a financial literacy initiative in partnership with Animal Capital and Josh Richards focused on Gen Z. Money Goals was created after its purveyors identified a lack of relevant resources for young consumers of both traditional finance and new forms of finance like cryptocurrency. The podcast will consist of a series of virtual events and educational content on various social media platforms. The production goes live on January 5, 2022.
We imagine that diversification into new monetary paradigms will be emphasized, with inflation running rampant and traditional banks paying next to nothing on saving deposits. Diversification is exactly what WonderFi is offering, in a DeFi platform that makes it simple for all generations to access.
WonderFi DeFi App Coming Soon
Although the WonderFi Technologies app has yet to go live, that day is coming soon. When it does, it’s expected that it will be among the simplest DeFi interfaces on the market.
On December 9, WonderFi announced the launch date of the WonderFi App, a free app that will make it easy for everyday users to access the high-growth area of decentralized finance—will come to market. The launch date on desktop is scheduled for January 25, 2022, with mobile app releases to follow. The app will feature “Smart Savings” and “Swap” features, designed to help consumers earn more interest on savings and buy/sell assets, respectively.
Expect the introduction of the WonderFi App in early Q1 is poised to be a transformative one. For instance, the app can automatically source best pricing across multiple protocols, integrate with centralized exchanges and payment processors and can aggregate with decentralized exchanges to provide deeper liquidity than individual protocols. A one-stop DeFi meca that even rank & file consumers can understand.
With less than a month remaining until the app launch date and experts expecting DeFi to explode next year, WonderFi has ample momentum heading into 2022. As a proxy for the industry and for equity investors seeking broad exposure to DeFi, the company is in prime position to build on its second half 2021 success. The DeFi world will be watching.