On July 3, WOO X rolled out the Zero Fee Zone which includes around 60 mainstream tokens including BTC, ETH, and AVAX. Users can buy or sell these assets without any trading fees, for both spot and spot margin (up to 5x leverage). Users can have unlimited access by staking 1800 WOO or more. Unlike other platforms that charge monthly subscription fees or limit the amount of trading volume, the Zero Fee Zone is designed for traders who care about their cost of trading, regardless of whether they are first-time crypto holders or full-time professional traders.
WOO X was the first exchange to offer zero fees to users, but this model took more work to scale to less liquid spot assets and capital-intensive perpetual swaps. The Zero Fee Zone allows WOO X to stay true to its spirit of innovation and provide users with zero-fee trading, while still having a more conventional fee-backed business model on exciting new listings and derivative products.
How does an asset qualify for the Zero Fee Zone?
With a focus on providing the lowest cost of trading, WOO X looks for assets that have diverse sources of liquidity across major exchanges and low spreads. This makes it possible to maintain highly efficient markets, at zero additional cost to WOO X users.
Lowest fees in the industry
For those who don’t stake to access to the Zero Fee Zone, maker and taker fees on all WOO X spot markets start at just 0.05%, 50% lower than leading competitors.
Fees on perpetual swaps are even lower, starting at 0.02% (maker) and 0.03% (taker). For the active perps traders, Tier 4 stakers on WOO X (500,000 WOO) will get 0 maker fees.
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Key benefits
- Users can still buy and sell major assets with zero fees
- Fees on less liquid pairs and perps can be rebated to additional market makers, leading to even better spreads and depth, offsetting the added cost of trading.
- Additional market-makers will decrease operational risk to users, increase transparency and reduce dependence on the Payment For Order Flow (PFOF) business model.
- Higher fee tiers on perps generate additional demand for WOO tokens, along with improvements to WOO X Staking coming later this summer featuring Earn and Launchpad integrations.
- Commissions will lead to more third-party broker and affiliate integrations, improving the overall WOO X trading ecosystem.
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