Approximately 10% of Bitbuy monthly active users enrolled in Staking within 10 days of product launch
VANCOUVER, BRITISH COLUMBIA, December 12, 2022 – WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the "Company" or "WonderFi"), through its subsidiary Bitbuy Technologies Inc. ("Bitbuy"), today announces that, in connection with approximately 10% of Bitbuy's monthly active users enrolling in Bitbuy Staking within 10 days after the Company launched the service on November 28th, 2022, WonderFi President and Interim CEO, Dean Skurka will hold an Intro to Staking Webinar on December 15, 2022 at 2:00pm EST.
Staking with a Registered Entity
As Canada's first registered crypto-trading marketplace, Bitbuy is proud to be at the forefront of providing innovative products and services for Canadian crypto investors. Bitbuy is one of only two registered platforms in Canada currently permitted to offer staking, and is the only registered platform to offer staking of Polygon ("MATIC").
Since launching Bitbuy Staking on November 28, 2022, Bitbuy clients have already staked over 1,000 Ethereum, and approximately 16% and 32% of Solana and MATIC assets under custody, respectively.
"Now more than ever, it is critical for Canadians to have access to products offered by local, registered trading platforms. We have seen an amazing response to being one of the first registered crypto trading platforms to offer Canadians the ability to stake their crypto assets," explains WonderFi President and Interim CEO, Dean Skurka. "With our staking offering now in market, we are focused on educating Canadian crypto investors on how staking can be utilized, which is why I'm going to lead Bitbuy's first Intro to Staking Webinar."
Intro to Staking Webinar - December 15, 2022, 2:00pm EST
Skurka and Figment CEO, Lorien Gabel will be conducting a Webinar for Canadian investors interested in learning more about staking. Topics will include the following:
- What is staking?
- Where are Bitbuy Staking rewards coming from?
- What are common misconceptions of staking?
- Common staking terms
- How to stake with Bitbuy?
- Coins available to stake on Bitbuy and how they differentiate from each other
- Institutional staking on Bitbuy
"This is a defining moment in the industry," says Gabel. "We are thrilled to partner with Bitbuy and BitGo to become the first staking-as-a-service providers to be accepted by Canadian regulators in conjunction with Bitbuy's approval to offer protocol staking to its customers."
Click here: https://bitbuy.zoom.us/webinar/register/WN_g3Y7deSqT-K9r1M24prWFg to register for this free and interactive event.
What is Bitbuy Staking?
Bitbuy Staking allows its users to leverage their crypto balances to earn crypto rewards through on-chain staking. Crypto assets associated with proof-of-stake blockchains may be bonded to the protocol to help validate transactions and secure the network in exchange for receiving additional crypto assets as a reward. Bitbuy pays earned rewards weekly calculated from the protocol reward rate which is variable and different for each network.
For additional information, please contact:
President and Interim CEO
Media / Investor Relations
Binu Koshy, Communications Director
WonderFi is a leading technology company with the mission of creating better, unified access to digital assets through centralized and decentralized platforms. WonderFi's executive team and Board of Directors have an established track record in finance and crypto. 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 finance 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.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: the types of coins that will be supported in Bitbuy Staking, the ability to earn and pay rewards, any additional regulatory or other approvals which may further become required in connection therewith, the ability of the Company to work effectively with its partners and changes in general economic, business and political conditions. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein. While crypto asset trading platforms that operate in Canada are required to comply with Canadian securities law requirements, registration cannot eliminate all risks associated with crypto asset trading. Investors may wish to seek advice from a registered investment advisor about investing. A more fulsome description of risk factors that may impact our business, financial condition and results of operation is set out in our management's discussion and analysis and financial statements for the for the period ended September 30, 2022, as well as our annual information form, available on SEDAR.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
The Toronto Stock Exchange has not approved or disapproved of the information contained in this release.