Announcing the Launch of the Lao Crypto and DeFi Product – Welnance Finance
PRESS RELEASE. Welnance, a DeFi protocol built on Binance Smart Chain, is set to launch the first Lao crypto and decentralized product on the 11th of November, 2021. Welnance is a decentralized financial platform that’s aimed at promoting financial freedom and choices for people around the world by offering fast, secure, reliable financial products and services to customers.
Welnance is under the Phousy Group ( one of the 6 companies authorized by the government of Laos to trade and mine cryptocurrencies). Since its inception in 1997, The company has participated in different business operations in Laos, especially its construction portfolio of roads and bridges. In 2009, The company’s total assets increased to over $3 billion and today it has skyrocketed. Phousy Group Portfolio comprises road and bridge construction, architecture & design, petroleum, irrigation system, mining, hydropower, and import/export, hotel, transportation, and grindstone factory. It’s home to over 1000 employees operating in a friendly environment.
Welnance Finance is a platform that provides Decentralized Exchange, Staking, and Yield Farming Pools, along with other upcoming features such as, Lottery Lucky Draw, rewards, and most importantly, Official Welnance Token. By leveraging blockchain technology, Welnance plugs into the Digital World to disrupt financial systems and services where wealth is accessible for all with financial freedom and choices.
Jom Sichanthalath, CEO of Welnance seems quite confident about the unique De Fi product saying:
“I firmly believe that Welnance will be a modern, centralized financial system with a complete ecosystem to help push Laos internationally and to use the Blockchain system to move Laos out of the least developed countries by 2030. I hope everyone will support this project and achieve this reality”
Welnance is a protocol on the Binance Smart Chain that establishes money markets, which are pools of assets with algorithmically derived interest rates, based on the supply and demand for the asset. Suppliers (and borrowers) of an asset interact directly with the protocol, earning (and paying) a floating interest rate, without having to negotiate terms such as maturity, interest rate, or collateral with a peer or counterparty. Each money market is unique to a Welnance asset (such as BNB, a BEP-20 stable coin such as BUSD, or a BEP-20 utility token such as Augur), and contains a transparent and publicly inspectable ledger, with a record of all transactions and historical interest rates. What’s more, it allows users to transact at any time and anywhere in the world with fast, secure, and low cost transactions thereby facilitating a high return on investment.
Unlike any exchange or peer-to-peer platform, The Welnance protocol aggregates the supply of every user; When a user supplies an asset, it becomes a fungible resource. The protocol incentivizes liquidity and users can withdraw their assets at any time, without waiting for a specific loan to mature. What’s more, participants with long-term investments in Ether and token can utilize a Welnance money market as a source of additional returns on their investment. All Welnance Protocol assets are bound by the BEP-20 standard.
The native token, WEL token, can be staked and farmed in Welnance Pools to earn more tokens. As a governance token, WELers (WEL token holders) are allowed to make propositions and contributions towards the future changes of the platform including new features or even the governance system.
20% of additional supply is allocated for platform development teams, R&D, and marketing and Investors. While 80% goes to the public such as Defi, Exchange, and public services.
5% — Developer Team
3% — R&D
1% — Marketing
10% — Investors
80% — Community
About Welnance Finance
Welnance Finance is a decentralized finance (DeFi) algorithmic money market and synthetic stablecoin protocol that is based on Binance Smart Chain. It’s a legal and reliable project for financial freedom where users can earn rewards instantly when supplying and borrowing cryptocurrencies.
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