Frequently Asked Questions
What tokens are available on WonderFi?
We are constantly updating the list of tokens available on WonderFi to provide the best opportunities to our users. Tokens available include 1INCH, AAVE, BAL, BNT, BOND, COMP, CRV, CVX, ENS, FTT, GRT, IMX, LDO, LINK, LRC, MANA, MKR, OHM, OMG, REN, SNX, SUSHI, UMA, UNI, YFI, ZRX, BNB, ETH, FTM, MATIC, renDOGE, renFIL, WBTC, WETH, DAI, USDC, USDT, cDAI, cUNI, GOHM, WSTETH, XSUSHI, BED, DPI, MVI. For a full list of tokens available on WonderFi, sign up for a free account at https://app.wonder.fi/.
Is WonderFi non-custodial?
WonderFi is a non-custodial application, meaning that you have full ownership and control over all tokens held in your WonderFi account.
Do I have to pay fees?
Users will be required to pay network fees as demanded by the blockchain network being used. To estimate how much fees will cost you, view the Network Fee widget on the left hand side of the app prior to submitting a transaction.
Is there a minimum funding requirement?
There is no minimum funding requirement, however you should be aware of network fees when deciding on how much to fund your wallet. You can view network fees and expected swap / transfer fees in the Network Fee widget on the left hand side of the app.
How do swaps work?
All trades on the WonderFi app are facilitated through swaps. Swaps enable users to sell an asset directly for another asset, rather than having to first sell for a fiat currency, like USD, prior to purchasing another asset. Swaps are possible thanks to decentralized exchanges which are used to process every trade on the WonderFi app.
Does WonderFi charge fees?
WonderFi does not currently charge any fees.
What are network fees?
Every blockchain transaction requires the computers securing the blockchain to expend computational resources, such as electricity or data storage, to verify and record the transaction on the blockchain. The computers providing this service are compensated for their work by charging users of the blockchain a network fee for every transaction they process.
What is the WonderFi Smart Contract and why do I need to approve it to spend my tokens?
The WonderFi smart contract is an autonomous smart contract that allows WonderFi users to pay network fees using the tokens they are transacting in, rather than requiring users to pay with ETH.
All smart contracts require wallet approval before they can access that user's tokens. This approval is an on-chain transaction that is only required once per token, and requires users to have ETH in their wallet for network fees.
Why are some fees paid in ETH and others in another token?
There are three transaction types that a user should be aware of :
- Transactions where ETH is the sender asset;
- Transactions where a non-ETH token is the sender asset;
- Approval transactions.
Approval transactions and transaction where ETH is the sender asset both require the user to hold ETH in their wallet to pay for network fees. These fees will be shown in your order details to the immediate right of the "Network Fees" subheading.
Transactions where a non-ETH token is the sender asset will pay for network fees in the sender asset. These fees will be shown in order details below ETH-based fees. If a user has never transacted in the sender asset before, they will be required to submit an approval transaction at the same time as their swap transaction which is why in some cases a user will be required to pay network fees in both ETH and the sender asset.
How can I earn interest with WonderFi?
You can earn interest by buying and holding tokens listed in the Earn section of the WonderFi app. Interest is earned in the underlying token (i.e. CUNI interest will be earned in UNI) and will automatically accrue and compound with every new block mined on the network, which happens every 15 seconds.
How are APYs Calculated?
The APY (Annual Percentage Yield) shown next to each interest-bearing token shows the current yield offered by the token based on supply and demand mechanics in that market. APYs are variable and may change during your holding period, meaning you may earn a higher or lower yield than the one you see when you purchase the token.
How is accumulated interest claimed?
Interest is automatically claimed whenever you sell your Earn tokens. We will also be adding a mechanism in the future to be able to claim additional rewards for the Earn tokens that offer it; for example all cTokens earn an additional rewards yield paid in COMP.
What are Indexes?
Indexes are the DeFi equivalent of an ETF. These tokens allow holders to gain broad exposure to a basket of assets with a single token.
What do Indexes track?
Indexes track the value of the underlying tokens that make up the index, and are often designed to provide exposure to a broad theme or sector in the crypto investment universe. For example, the Metaverse Index is a market-capitalization weighted index that tracks the value of a group of major Metaverse tokens, such as Decentraland, Sandbox, Axie Infinity, and more.
Who manages the Indexes?
Indexes are managed by two parties : the decentralized issuance protocol, and the index manager. The issuance protocol is responsible for creating the index token and ensuring it is always fully collateralized. The index manager is responsible for creating and maintaining the index’s strategy by adjusting the weights of individual tokens within the index.
How do I transfer crypto to my WonderFi wallet?
To transfer crypto into your WonderFi wallet, select the withdraw function on your wallet or exchange of choice and input your WonderFi wallet address (accessible from the “Transfer” tab) as the destination address. Please note that sending any non-supported assets may result in the permanent loss of your funds, view our supported asset list here.
How do I connect a wallet to WonderFi?
To connect an external wallet to your WonderFi account, click on the “Select Wallet Provider” button above and follow the WalletConnect instructions. Please note that you will only be able to connect one mobile wallet and one browser extension wallet at a time.
Can I fund my wallet with a credit card or from my bank?
The WonderFi app currently supports purchasing crypto directly from a credit card or bank account with our onramp partner, SendWyre. Please note that some banks and credit card providers do not accept cryptocurrency transactions. We are actively working on bringing more onramp solutions so that you can easily fund your wallet directly with fiat.
How do I disconnect a wallet?
To fully disconnect a wallet, navigate to the Wallet Management tab found in the settings and click on the wallet you wish to remove. A pop up should appear on the right side with the option to either "Rename" or "Remove" the wallet; click on "Remove". Once you have removed the wallet you will need to go to your now disconnected wallet's settings, find connected sites, and remove WonderFi as a connected site. Once you do this on you will be able to add a new wallet to the WonderFi app.
How many wallets can I connect to WonderFi?
You can connect one mobile wallet, and one browser extension wallet at a time.
Certain Canadian Provinces
WonderFi is engaged in discussions with Canadian securities regulators regarding the WonderFi App and whether securities and derivatives laws may apply. While such discussions are ongoing, the Corporation has agreed to restrict residents from certain provinces from accessing the WonderFi App. Residents in British Columbia and Alberta will have continued access to the WonderFi App while discussions are ongoing.
WonderFi is not currently available in the following jurisdictions which are subject to sanctions related to the United Nations Act (UNA): Belarus, Central African Republic, Democratic Republic of the Congo, Iran, Iraq, Lebanon, Libya, Mali, Myanmar, Nicaragua, North Korea, People’s Republic of China, Russia, Somalia, South Sudan, Sudan, Syria, Ukraine, Venezuela, Yemen, Zimbabwe.
What is WonderFi?
WonderFi is a leading technology company with the mission of creating better access to digital assets through compliant centralized and decentralized platforms. WonderFi provides unified access to digital assets including crypto, DeFi, gaming and NFTs, in a compliant and regulated environment.
Where can I access WonderFi stock?
WonderFi is a publicly traded company, trading on Canada's Toronto Stock Exchange under ticker symbol $WNDR which you can view here. For investors who do not have access to the NEO exchange through their broker, WonderFi stock can be purchased on U.S. OTCBQ markets under ticker symbol $WONDF. For more investor resources, visit our investor resources page here.
Does WonderFi have a token?
No, WonderFi does not have a token.
Where can I find investor materials?
When did WonderFi go public?
WonderFi's stock was officially listed on Canada's NEO exchange on August 31, 2021.