Both 1inch and Wootrade are committed to creating the most innovative and efficient trading environment for users across DeFi and CeFi.
The 1inch Network is a godsend for users who want to exchange their token assets without worrying which DEX can offer the best price. Through a network of aggregation and exchange protocols, it is able to split and route orders across multiple DEXes to reduce slippage and execute orders in a gas-efficient manner. Currently, the 1inch Network is available on Ethereum, Binance Smart Chain (BSC), and Polygon.
So why are we talking about it?
In the same vein, Wootrade shares a similar vision with 1inch as it aims to provide the best order execution across CeFi and DeFi. The difference in DeFi is that Wootrade is using a combination of off-chain tools such as pricing oracles, quantitative trading, and hedging strategies to provide WooFi pools with the best order execution at the lowest cost and slippage.
1inch and WooFi — inch-perfect synergies
WooFi pools are highly adept in receiving routed orders from 1inch because they aren’t governed by the rules of regular AMM DEXes. Instead, Wootrade’s trading oracle delivers highly accurate quotes aggregated from feeds across CeFi, DeFi, and institutional liquidity sources, allowing WooFi’s pricing to out-compete other protocols. Wootrade’s quantitative market makers are then able to hedge the incoming trades, a process that reduces risk and expenses. Wootrade can then drop the fees to as low as 0.05%, a stark difference from the 0.3% commonly charged by early DEX offerings. The hedging also eliminates impermanent loss for Wootrade, meaning they can be much more capital efficient than other players.
Chances are high that 1inch users on BSC have experienced superior order execution as orders might have been routed through the following WooFi pools:
- BNB/BUSD
- LINK/BUSD
- DOT/BUSD
- BTC/BUSD
- ETH/BUSD
- WOO/BUSD
1inch provides synergistic benefits to Wootrade’s DeFi initiatives by significantly increasing the order flows and volume transacted in the WooFi pools. To return the favor, Wootrade will be providing institutional liquidity support by listing the 1inch Network’s governance token (1INCH) on the WOO X network. As a result, traders and institutions on the Wootrade B2B network will enjoy the best order execution in CeFi as 1inch users come to expect in DeFi. The two teams will continue to work together to improve the digital asset trading industry and provide support for both the WOO and 1INCH token ecosystems.
About 1inch Network
The 1inch Network aims to offer the best order execution rates by discovering the most efficient swapping routes across all leading DEXes offering users better rates than any individual exchange. The network incorporates the Pathfinder algorithm which finds the best paths among different markets over 50+ liquidity sources on Ethereum, 20+ liquidity sources on Binance Smart Chain and 8+ liquidity sources on Polygon. In just two years the 1inch DEX aggregator surpassed $50B in overall volume on the Ethereum network alone.
About Wootrade
Wootrade aims to provide deep liquidity and superior order execution at the lowest cost for traders, exchanges, institutions, and DeFi platforms. Its flagship product, WOO X, is positioned as the ultimate trading terminal for traders and institutions, featuring fully customizable modules, and first-to-market zero-fee trading with the deepest liquidity across spot and margin. Wootrade was founded by Kronos Research, one of the top quantitative trading firms in the world generating $10–15 billion in daily trading volume, with the goal of democratizing access to the best-in-class liquidity, trading and yield generation strategies through various products.
