The two organizations will collaborate on a wide range of activities encompassing the DeFi and CeFi sphere, bringing better liquidity to Fantom and more volume to WOO Network.
On August 30, the Fantom Foundation announced a ground-breaking 370 FTM (>$450M) rewards program for dApp developers. Since then, Fantom has captured the attention of the crypto space, with a thriving ecosystem that has more than doubled in Total Value Locked. Fantom’s advantage is their low fees, almost instant transfers, and a simple but secure PoS network, not to mention impressive scalability and compatibility with existing Ethereum dApps.
Providing deep liquidity to the Fantom ecosystem
WOO Network can add value to Fantom by providing liquidity on trading pairs for decentralized exchanges, bridges, and other dApps. WOO Network’s existing DeFi solutions, deployed on Ethereum and other networks like Polygon and BSC, bring the highest capital efficiency by bridging aggregated CeFi liquidity on-chain. This ensures users are trading at the most competitive market prices while paying the lowest fees and minimizing slippage.
“After closely following the Fantom ecosystem and its developments for some time, we recognize the high potential of the network. Its scalability and compatibility lead us to believe that adoption on a larger scale will be likely. With this in mind, we want to be active in supporting the Fantom Foundation, the network, and its users, so that mutually beneficial results can be achieved.”
Ran Yi — COO, WOO Network
Listing the FTM token on the WOO network
WOO Network can further support Fantom in the CeFi space by providing liquidity support for the FTM token. Aggregating liquidity for FTM will make it more accessible to the 30+ institutions trading on WOO Network, alongside users of our flagship product WOO X. CeFi users can benefit from the increased depth and zero-fee trading, either in the form of retail trading volume or professional trading strategies. Down the road, WOO X can potentially build more bridges to the Fantom ecosystem by supporting tokens on the Fantom mainnet and become a driver of growth on the network.
WOO token holders can also look forward to more integrations on the Fantom mainnet. The contract is available on FTMScan and can be bridged between networks using third-party services such as Multichain and SpookySwap. In the future, WOO X may serve as a centralized bridge between the Fantom network, Ethereum, and other decentralized networks.
Fantom is a fast, scalable, and secure layer-1 EVM-compatible platform built on a permissionless aBFT consensus protocol. On Fantom, transactions are confirmed in 1 second and cost a fraction of a cent. Speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications and real-world use-cases.
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About 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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