Four exchanges and one professional trading institution are the first adopters of Wootrade’s B2B staking plan offering reduced fees for participants that stake significant quantities of WOO tokens.
The Zealous Rhino Staking Program was announced on November 6th and it didn’t take long to attract early participants. We are proud to welcome our clients and strategic partners MXC, Hoo, Gate.io, BitMart, and Oneboat Capital as the first batch of Zealous Rhinos. According to the program, rhinos will stake an amount of WOO based on their volume and fee requirements. In return, the participants will be given reduced, zero, or even negative fees on trades flowing from their end-users or clients.
Another reason we are so thrilled to have these rhinos on board is that they have already integrated the Wootrade Network into their respective platforms. Over the past six months, Wootrade has provided them with increased order book depth and cost-savings on market-making and transactions. Their inclusion in the program shows their optimism about the development of Wootrade and the WOO token ecosystem, as they not only offered support during the token launch but were also eager to join the initial batch of node participants.
Based on current usage of the Wootrade network plus the anticipated needs of Wootrade’s clients, it is estimated that the Zealous Rhino Staking Program will lock up around 40,000,000 WOO tokens in the near future, with around 500 million tokens staked in the first year (approximately 80% of the market circulation). Additionally, the staking program for retail investors and token holders is nearing completion and will be announced along with other important updates to the Wootrade platform.
For those interested in the amount of WOO tokens participants will be required to stake, here’s a quick look at the different tiers that are available. Source: Medium