WonderFi Announces Strategic Investments in Solana Ecosystem and FTX
Vancouver, British Columbia--(Newsfile Corp. - November 8, 2021) - WonderFi Technologies Inc. (NEO: WNDR) (OTC Pink: WONDF) (WKN: A3C166) (the "Company" or "WonderFi") today announced its investment in the Solana ecosystem through the Incentive Ecosystem Foundation, which includes Solana and Serum as the two largest weighted assets.
Solana is a high performance programmable blockchain capable of executing up to 50,000 transactions per second, and is directly competing with Ethereum for dominance in decentralized finance ("DeFi"), gaming, payments, and more. WonderFi's investment and participation in the rapidly growing Solana ecosystem aligns with the Company's focus on bringing access to the best of DeFi through strategic investments and partnerships.
Serum, a non-custodial decentralized exchange operating on the Solana blockchain, was created by FTX, Alamada Research, and several other partners through the Serum Foundation.
"WonderFi's investment in the Solana ecosystem furthers our mission of making finance more accessible and will provide exposure to one of the fastest growing segments of DeFi," said WonderFi CEO, Ben Samaroo. "Further, we are thrilled to continue working with Sam Bankman-Fried as we are aligned in our vision and future of crypto and decentralized finance."
WonderFi also invested alongside Ontario Teachers' Pension Plan Board, Temasek, Sequoia Capital and 65 other investors in the US$420M Series B-1 round of FTX Trading Ltd. ("FTX"), the global cryptocurrency company founded by Sam Bankman-Fried, a strategic investor in WonderFi. WonderFi's investments in the Incentive Ecosystem Foundation and FTX totaled $1M USD.
For additional information, please contact:
WonderFi Technologies Inc.
Ben Samaroo, CEO
WonderFi is a leading technology company with the mission of creating better access to DeFi through the core principles of simplicity and education. WonderFi has a multi-pronged business strategy which includes a high-growth consumer finance app which will serve as a trusted gateway to the new financial system, and a digital asset portfolio which consists of leading crypto and DeFi assets. WonderFi's executive team and Board of Directors have an established track record in finance and crypto, with previous experience at Amazon, Shopify, PayPal, Galaxy Digital, Hut 8 and BIGG Digital. WonderFi's core team of engineers and technologists believe that everyone should have equal access to finance, and are aligned in the mission to empower people around the world to access DeFi in a simple, smart and secure way. For more information, visit www.wonder.fi.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such "could", "intend", "expect", "believe", "will", "projected", "estimated", or variations of such words.
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