Strategic Partnership with MOV Protocol

Strategic Partnership with MOV Protocol

We are happy to announce a strategic partnership with MOV Protocol!

The two companies will cooperate to improve the on-chain trading experience, and will progressively collaborate in liquidity management and exploration of user incentive mechanisms. The DeFi partnership will also focus on joint global branding efforts.

With WOOTRADE, MOV protocol can provide its customers a greatly improved liquidity at a low to zero commission fee. This in turn will allow MOV to save on operating costs. By combining Wootrade’s trading expertise and liquidity advantage with MOV’s technological capabilities and user base, both sides will be able to develop innovative new user incentive mechanisms to improve the DeFi trading (Decentralized Finance) experience.

With the booming popularity in derivatives and DeFi, traditional and decentralized exchanges focus on providing better liquidity for their customers. Improving liquidity will ultimately allow them to increase their user base and retention rate.

WOOTRADE is a digital asset liquidity pool incubated by quantitative hedge fund Kronos Research, that can provide its users with a transaction depth of 100 BTC with a spread of 0.2%. WOOTRADE’s current clients include traditional and decentralized exchanges, and professional traders. WOOTRADE’s exchange clients reported a 3.5x increase in trading volume after gaining access to WOOTRADE’s liquidity.

MOV is a next-generation decentralized cross-chain Layer 2 value exchange protocol based on Bystack, a business system built on Bytom-Vapor mainchain-sidechain. Digital assets such as BTC and ETH can be cross-chain transferred to Bytom and its sidechain through the MOV protocol, and use the Bytom mainchain-sidechain structure. Its Magnet function possesses an order book and ensures a smooth trading experience while also executing on-chain matching and settlement. This allows users to control and protect their assets.

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