WOO X announces $2,000,000 market maker rewards pool to boost liquidity further
WOO X, a leading global centralized crypto futures and spot trading platform, has launched a $2,000,000 market maker rewards pool. Built on existing active pools, this new initiative further enhances liquidity, reflecting WOO X's commitment to exceptional trading opportunities and strong partner support.
“The success of our first year with the main pool has been a testament to the unwavering support of our community. We are proud to share that WOO X now boasts diverse liquidity sources, an improved risk profile, and a custody ratio exceeding 100%. Our upgraded incentives program has a bigger purpose of being more sustainable by shifting from the native token emissions of the previous pool, which would greatly improve liquidity and reduce WOO inflation,” said Willy Chuang, COO of WOO X.
“Our commitment to providing efficient and liquid markets has been greatly amplified by WOO X's DMM program, which has provided us with valuable financial incentives and enhanced trading opportunities. The new $2,000,000 rewards pool amplifies these benefits and reinforces our shared dedication to transparency and trust in centralized crypto trading. We look forward to continuing our partnership with WOO X and supporting its growth as a leading global platform,” said Selini Capital Chief Commercial Officer, Christophe de la Celle.
Since August 1, 2024, the new main pool started offering $2,000,000 USDT in rewards for the year, translating to approximately $166,666 per month. The market share requirement for payout eligibility will be reduced to 2.5%.
This update follows the previous main pool, which ran from August 1, 2023, to July 31, 2024, providing 9,000,000 WOO in incentives over the year, equivalent to roughly $150,000 per month, with a market share requirement of 7.5%.
A market depth program will be launched in September, featuring a rewards pool of 6,000,000 WOO, while the 5,000,000 WOO altcoin pool will continue as planned until December 12, 2024.
Meanwhile, WOO X is also evaluating its Spot pools and Spot incentives design, noting that more information will be disclosed in the coming weeks, including perpetual contracts for the upcoming pools.
Disclaimer
The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind.
Cryptocurrencies involve significant risk and are NOT suitable for the majority of investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities. We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.
The collaboration between WOO and its partners highlighted in the content above does not indicate in any way that WOO provides or will provide financial services. WOO does NOT endorse, guarantee, or provide advice for any products or services of its business partners. This cooperation shall in no event be interpreted as an assurance or guarantee for the listing of any tokens, whether presently existing or to be generated in the future, on WOO X or any associated exchange platforms, nor does it imply any commitment from WOO to list any tokens on its platforms or others. The decision to list any tokens is governed by and subject to a series of separate criteria and procedures, independent of this cooperation or business partnership.
This cooperation is not an indication of guaranteed success or profitability for either WOOFi, WOO X, or any of its business partners. All business risks related to the cooperation are borne by the respective parties involved.
