With decentralized derivatives volumes growing rapidly, WOO Network is positioning itself to capture the rising volumes across leading DEXs like Perpetual Protocol and explore more use-cases and trading integrations for the WOO token.
Bringing institutional liquidity to Perpetual Protocol via WOOFi
Perpetual Protocol’s upcoming Curie upgrade features a novel innovation on Arbitrum’s Layer 2 scaling platform that allows for drastically improved trading execution speed, costs, and reliability. Additionally, their V2 model uses Uniswap V3 as the execution layer and is paving the way for 3rd party market-making strategies and liquidity providers — an area of expertise for WOO Network and Kronos Research. Currently, Kronos Research is one of the leading on-chain market makers, due to decades of experience trading in traditional markets coupled with their access to WOO Network’s industry-leading liquidity.
In essence, while Kronos Research deploys its market-making and algorithmic trading strategies on Perpetual Protocol, WOO Network’s zero-fee liquidity pool facilitates efficient hedging for Kronos Research. This unique connection allows Kronos Research to continuously supply liquidity through its market-making strategies in a cost-efficient manner while increasing trading volumes on WOO Network.
“The market share of Derivatives DEXes is set to expand dramatically and represents an area we are highly keen on expanding towards,” said Ran Yi, COO of WOO Network. “Perpetual Protocol’s unique innovations towards scaling and providing liquidity creates many new opportunities. We are optimistic on the growth trajectory of Perpetual Protocol and look forward to going live with new liquidity provisioning strategies to deepen our partnership.”
Furthering WOO token’s use-cases and integrations on Perpetual Protocol
Another of Perpetual Protocol’s unique innovations is its Permissionless Markets Creation through the use of Chainlink oracles. This means that if an asset has a price feed through Chainlink oracles, anyone can create a perpetual market for that asset — opening up room for innovation.
WOO Network is eager to offer Perpetual Protocol’s trader-focused DeFi community direct access to WOO token markets. This initiative can be explored deeper after v2.1 is released in Q4 on Arbitrum. Arbitrum is a Layer-2 network that has garnered the attention of top developers due to its trustless nature, giving Ethereum more scalability and lower transaction costs without sacrificing too much on decentralization.
Listing PERP token on WOO X and providing liquidity for 30+ integrated institutions
WOO Network can support Perpetual Protocol in the CeFi space by providing liquidity support for the PERP token. Aggregating liquidity for PERP will make it more accessible and improve trading execution for the 30+ institutions trading on WOO Network and retail users on our zero-fee trading platform WOO X. PERP is already available on the WOO Network for trading, accessible from x.woo.org.
Raising volumes in WOO Network
The share of trading volume in DeFi derivatives trading is set to outpace the growth of CeFi volumes, and the partnership with Perpetual Protocol positions WOO Network to internalize volume in this growing sector. If integration and trading are successful, then more order flow will be routed back to WOO Network’s liquidity for execution, driving more revenue for WOO Network.
About Perpetual Protocol
Perpetual Protocol is an industry-leading decentralized finance (DeFi) platform offering cryptocurrency derivatives contracts without an expiry date. Founded in 2019, Perpetual Protocol’s global team of blockchain engineers and traders invented the vAMM (Virtual Automated Market Maker), a protocol that helps traders harness virtual assets to open leveraged long or short positions on the crypto market. With zero or near-zero network fees, Perpetual Protocol is built to compete with any exchanges offering derivatives trading.
For more information, please visit https://perp.fi
About WOO Network
WOO Network WOO Network is a deep liquidity network connecting traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at lower or zero cost. WOO Network was founded by Kronos Research, one of the world’s top quantitative trading firms generating $5–10 billion in daily volume. The network’s liquidity is platform-agnostic, allowing it to be bridged across CeFi and DeFi to generate various use-cases.
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