To log in, users will have to continue using the defi.finance domain, which in the coming days will become kubic.com
Woonkly Labs’ new contribution to the crypto community is called Kubic, the first Automated Market Maker (AMM) where users will be able to join using fiat money and trade in a decentralized way with all types of assets between different blockchains.
Within the new platform, the wDEFI token is renamed KUBIC, with a 1:1 ratio to wDEFI. Users already have a platform available here: https://defi.finance/migrate-token, where they can make the exchange quickly and easily, and when this change is made, the wDEFI disappears.
More than 70% of wDEFI tokens have already been exchanged for the new wDEFI token, and more than 4,000 transactions have been completed on the new platform.
Kubic is also a pioneer in targeting institutional investors. It complies with anti-money laundering regulations through services such as Know Your Customer (KYC), and using its own exchange license, granted in Estonia, a country member of the European Union.
At the launch seminar, our CEO, Daniel Santos, announced that Kubic is the evolution to version 2 of defi.finance V1. The platform became 100% operational on Thursday, October 7, from block 11,564,000, when users could add liquidity, swap, farm, stake, and receive rewards in the new protocol.
Kubic: The next generation of commodities exchange
“Kubic.com is the world’s first decentralized commodities exchange system,” Santos said. He also clarified that the mission is to connect commodities and raw material suppliers directly with the investor/end-user. As well as eliminating intermediaries, reducing costs, and rewarding everyone in the production chain fairly.
The mission of the new platform is to optimize the exchange and investment processes for end users by creating a decentralized commodities market that operates 24/7, he expanded.
“From fiat currencies to precious metals and from Oil to Carbon Footprint. Absolutely any commodity is tokenizable, and with that can be exchangeable in our protocol,” Santos noted.
The new token: KUBIC
The name of the new digital asset is KUBIC, and it has a 1:1 relationship with the previous wDEFI token. It has a maximum supply of 10,000,000,000,000 and is a cross-chain token. I.e., right now, it is on its native network, the Binance Smart Chain (BSC), but in the coming weeks, it will be on the Ethereum network, Avalanche, and is expected to be on up to twelve blockchains.
At the Launch Seminar, our CEO announced that KUBIC would appear on Coingecko and Coinmarketcap as the official Kubic.com token in the coming days. Right now, it is possible to see the price of the token on defi.finance (soon kubic.com) in the header of the home page.
On the other hand, he indicated that the burning of the KUBIC token would take place once a month, instead of weekly, like the old wDEFI token. Approximately 126,393,333 KUBIC tokens will be burned on the 7th of each month.
Regarding the new token supply, Santos pointed out that every two years, or 720 days, the Kubic community will hold the HEXAEDRON event. The first edition will be on October 7, 2023, when the community will vote to establish the burning schedule mechanism and the new circulating supply.
Migration to V2: Kubic
From Tuesday, October 5 to Thursday, October 7, defi.finance V1 users started the migration to the new platform and the new token. At the closing of this blog (October 7, 2021), more than 1600 holders had already switched their wDEFIs to KUBIC and the Total Assets Locked had already passed the $75 million mark.
Haven’t migrated to KUBIC yet? Learn how to do it in the following official tutorial:
To access the Migration Panel go to defi.finance/migration
Users must delete COOKIES and CACHE from their browser and restart it to view the new platform correctly.
In the following days, we will publish the new Kubic Livepaper with the new Roadmap and Tokenomics of the new token: KUBIC. This is just getting started… Stay tuned to our social media channels!