WITTY Builds DeFi Transfer Platform to Become Africa’s Crypto Gateway
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Kingstown, Saint Vincent and the Grenadines – (Newsfile Corp. – November 26, 2021) – WITTY is a fully indigenous African Blockchain FinTech provider, built on the Binance Smart Chain and focused on developing products and services in the aim to create a value chain in the decentralized finance ecosystem [ DeFi ].
Figure 1: WITTY Builds DeFi Transfer Platform to Become the Crypto Gateway for Africa
To view an improved version of Figure 1, please visit:
WITTY’s vision is to play a major role in breaking the third world barrier by leveraging unlicensed and trusted technologies.
The mission is to get Africa into the Crypto space one step at a time.
WITTY has identified a big problem in Africa that it intends to solve; it’s a fruit at hand as no other platform competes in this space.
WITTY is looking to create a platform that will allow African traders / traders and businesses to buy cryptos with local currency from their non-custodial peer-to-peer crypto exchange, convert that crypto into Fiat Dollar on their delivery platform and being able to transfer Fiat to the bank. accounts in a hundred countries.
So instead of African traders stocking up on Fiat Dollar they get very high exchange rates on the black market in order to send it to their Western and Asian trading partners; they prefer to buy Crypto on WITTY’s Non-Custodial Peer-to-Peer Crypto Exchange at a much better exchange rate, convert that Crypto to Dollar on their Crypto Remittance Platform, and wire to their trading partners’ bank accounts in nearly 100 countries.
WITTY has partnered with a Western financial institution to achieve this.
The size of the market that WITTY intends to serve is large; China-Africa trade increased 40.5 percent year-on-year in the first seven months of 2021, according to China’s Ministry of Commerce, and was valued at a record high of $ 139.1 billion .
According to the United Nations Conference on Trade and Development, Africa’s total trade to the rest of the world averaged USD 760 billion at current prices over the period 2015-2017.
WITTY launched its IEO on November 19, 2021 and will end on December 18, 2021 or when the total of 304,000 WITTY tokens have been sold, whichever comes first. The IEO is currently live on the P2PB2B exchange and the native token would be available at a discounted price and given that the project is focused on the African continent, the chances of appreciation of the token are high. There are no whales. This means that no individual can manipulate the market. IEO buyers will be the first token holders, as WITTY has not raised any funds so far, which means you will benefit the most from the appreciation of the tokens.
The WITTY token has a low supply with a very large market size. This means that the benefit of token appreciation is very high. The total token supply is 20 million tokens, but the circulating supply is 1 million tokens and will remain so until April 2023. Thereafter, there will be 5% issuance of the offer remaining.
As you may already know, Africa has a very active young population in Crypto Space. Nigeria currently has the largest trading volume just behind the United States, so the WITTY IEO offers an incredible opportunity for crypto investors to enter this gem early.
Two platforms must be developed for WITTY to enter the market; Crypto Peer-to-Peer exchange without custody (where traders will buy crypto with their local currency) and remittance platform (where WITTY platform integrates with their banking partner’s platform to provide users with functionality bank transfer).
The peer-to-peer crypto exchange without custody has already been created. The funds collected from the IEO will make it possible to complete the remittance platform. The soft cap for the IEO is $ 200,000 (two hundred thousand dollars) while the hard cap is $ 2,000,000 (two million dollars).
In addition to the Non-Custodial Peer to Peer Exchange and the Remittance platform, WITTY plans to offer other ranges of products and services in its ecosystem;
- Staking platform
- Cryptographic debit cards
- Crypto payment gateway
- Lending platform
- Utility platform
- WITTY Fund (a percentage of WITTY’s income will be kept in this fund with the aim of acquiring complementary platforms with the aim of making the WITTY ecosystem more valuable and the WITTY token more profitable for holders)
It is instructive to say that although the main focus of WITTY is the African market, users all over the world can use the platform and of course investors all over the world can leverage their unique selling point to invest in this gem now before it becomes very popular.
What features make WITTY a must-have platform for Africans?
WITTY has forged partnerships with financial institutions to serve a large market; Witty Protocol plans to provide more flexible and lower cost fees to access Blockchain products and services within its ecosystem, demonstrating their commitment to promoting Blockchain and cryptocurrency adoption across Africa.
With the help of the highly innovative and decentralized system, WITTY Project is well positioned to tap into the untapped resources of the African remittance market. Here are some of the key features of the WITTY ecosystem that could attract users to the platform.
- Non-custodial / decentralized: WITTY never owns the digital assets of traders; instead, they give users full control over their digital wallet, enabling true decentralization. The decentralized nature also eliminates the possibility of a single point of failure.
- Without permission and without trust: WITTY is a protocol-based platform that is primarily powered by smart contracts. This means that there is very little room for human error, if any.
- Reinforced security: The decentralized nature of the WITTY platform means that users’ digital assets are more secure. Each user’s digital assets are stored in a non-confidential third-party wallet, which also allows users to access their private keys.
- Agile & Empathetic Management: WITTY believes Africans are better placed to solve Africa’s problems because they understand the terrain and can identify with the challenges. As a result, they are more determined to change the status quo for reasons other than economic ones.
- User-centric products: Their products are designed to meet the needs of non-tech savvy individuals and to provide solutions to long-standing challenges of financial inclusion for people of all backgrounds; their user interface is simple to use and navigate.
- Active tribe: WITTY users will be part of an active tribe of people who are truly curious about you and your progress.
The [WTY] The token is the primary means of payment in the WITTY ecosystem, and all transactions take place on the Binance Smart Chain network. Fortunately, this fits their goal of developing a completely new solution that overcomes the limitations of traditional financial infrastructures. WITTY provides consistency in maintaining the integrity of data, which forms the core of the entire WITTY ecosystem, to further strengthen user confidence in their products / services.
The project is also aware of some regulatory concerns regarding the proliferation of the cryptocurrency industry by some bad players. So they built a robust system with improved end-to-end encryption security while maintaining a user-friendly interface to keep them at the forefront.
WITTY brings a truly decentralized ecosystem to Africa
In 2019, the global remittance market generated more than $ 700 billion in revenue, and it is expected to grow at a rate of 7-8% per year over the next ten years. Remittances are particularly expensive for migrants from sub-Saharan Africa, with payments of 7.45 percent, which is significantly higher than much of global transactions and almost double the payments in other parts of the world.
The application of Blockchain technology in the financial industry, especially in remittances and transaction settlement, is the antidote to long-standing bottlenecks in the financial services industry around the world. And, thanks to their commit block algorithm, most blockchains, such as Ripple and Stellar Lumens, can process over 4,000 real-time transactions in milliseconds. The WITTY ecosystem offers a range of products and services that promote financial inclusion while contributing to a level of transparency and a reasonable fee structure in the payments industry.
WITTY offers a wide range of products and services that promote the inclusion of financial success, and further help to encourage a certain level of reasonable and transparent Fees.
To buy WITTY at a reduced price during the current Private Sale p2pb2b.io
To learn more about WITTY, visit Wittytech.io
Email: [email protected]
Contact Person: Dan Ewah
Company name: Wittytech Limited
Email: [email protected]
Country: Saint Vincent and the Grenadines
Source: Wittytech Limited
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105282