WeMade launches DeFi service KLEVA

Materials provided – Wemade

Wemade (CEO Jang Hyeon-guk) announced on the 19th that it will introduce the DeFi service ‘KLEVA’.

De-Fi (Decentralized Finance) means providing financial services using blockchain and smart contracts without relying on traditional financial institutions. DeFi participants are rewarded in exchange for depositing virtual assets and providing liquidity. This series of processes is called yield farming.

Cleva is Klaytn’s first leveraged yield farming DeFi service. Participants can borrow virtual assets based on collateral and participate in interest farming with larger assets. While the anonymous-based DeFi service carries the risk of malicious extortion, the advantage of Cleva is that it is sufficiently reliable as a service provided by WeMade, a listed company.

Wemade aims to expand Cleva’s ecosystem by creating synergy with other Klaytn-based DeFi services in the future. As the first partner, we plan to conduct pre-marketing through KlayFi’s launchpad platform KlayStarter.

Cleva was jointly developed by Wemade and Suhoio, a smart contract technology startup invested by Wemade. It is expected that WeMade’s accumulated blockchain service experience and SUHOIO’s development power, which has strength in security, will create synergy.

WeMade CEO Jang Hyeon-guk said, “After the already serviced cryptocurrency, blockchain game, individual game coin, coin exchange, and NFT exchange, we have already completed the blockchain ecosystem puzzle by launching DeFi.” “Advanced with real service experience DeFi will become the financial platform of the Wemix blockchain economy.”

Meanwhile, Cleva is scheduled to be released within the year through WeMade Tree, Singapore’s subsidiary of WeMade, and plans to continue to disclose information on the website (kleva.io).