Defi.finance 1.2: Woonkly’s new product is a regulated AMM with KYC-AML
The new platform is a bridge between DeFi and traditional finance
Woonkly’s defi.finance version 1.2, the first decentralized AMM (Automated Market Maker) exchange compliant with Estonian anti-money laundering and anti-money laundering directives, was launched during the 7th Edition of the Global Blockchain Congress, held on June 21–22, in Dubai.
This new version of the defi.finance platform represents a bridge between decentralized finance and the traditional world, being the first DeFi project in the world to adhere to the current legislation of Estonia, a member country of the European Union.
Woonkly’s CEO, Daniel Santos, explained that defi.finance is a Decentralized Exchange (DEX) AMM that is regulated, making it a “unique and legal” project. On the new version, users must approve a Know Your Customer (KYC) and Anti-Money Laundering (AML) identity verification process, making the platform provide more facilities for users’ taxation.
The highest burn
Since its launch, defi.finance has burned over one billion wDEFI tokens, equivalent to over $13 million. The burning has directly contributed to token price stability by being a mechanism to combat inflation.
To date, Woonkly has announced that “token burning” days will be on Fridays every week and the amount 83% of commissions, 500% more than other AMMs.
Version 2 of defi.finance
In the coming weeks, Woonkly will announce the launch of a new, repowered version of defi.finance V2, which besides the KYC-AML system, will also have its liquidity pool.
Likewise, Woonkly has pointed out that, despite other tokens created in the corporation’s new products, WOOP will continue to be the reference token of the Woonkly ecosystem.
The first version of defi.finance was live last May 25, 2021 -in a BETA version- for the Woonkly community to test the platform and contribute with functionality and UX improvements.
Currently, the DEX AMM defi.finance in the BETA version reaches a Total Locked Volume (TLV) of about $80 million.
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