Updated: --
Total assets / Total liabilities
NaN%
0.00
0.00
Custodial storage / Total liabilities
NaN%
0.00
0.00
(USD, in millions)
Updated: --
0.00
0.00
Due to Cobo Custody safeguarding client assets in omnibus accounts, assets there currently cannot be tracked on chain.
0.00
Token | Proportion | Notional Amount |
---|---|---|
View all | 0.00 |
Source: CEXs & Cobo Custody from read only API key (verified by 3rd party periodically).
(USD, in millions)
Updated: --
0.00
Liabilities distribution
Token | User Balance | User Margin | Total |
---|---|---|---|
View all | 0.00 | 0.00 | 0.00 |
Source: User ID Merkle tree proof.
On top of our live dashboard, our Merkle tree proofs are a cryptographic solution for users to directly verify account balances against WOO X holdings.
Users can also download the full Merkle tree to review the complete data set. As a further gesture of our commitment to transparency, we have open-sourced the code, which you can review in the section below.
The verification reflects your account balance in the supported assets at the time of the audit
Time | Record ID |
---|
Verify your account
Users can verify their balances are included in the Merkle tree. If the balance displayed below is correct (at the time of snapshot), it demonstrates that the data shown on the dashboard is accurate. You can also check Github for the detail of Merkle tree.
Select an audit snapshot time in the dropdown menu:
Please note that accounts with no assets or who did not pass KYC will not see their information on the Merkle tree. Negative assets will not be reflected on the tree.
The reserve ratio refers to the amount of cash reserves WOO X has in relation to its user deposit liabilities. A reserve ratio above 100% means that user deposit liabilities are backed 1:1 by assets on WOO X, as well as its cash reserves and insurance fund.
The custody ratio shows what percent of user deposit liabilities are stored with custodians or in cold storage, versus stored in third-party liquidity sources. Currently, some shares of users’ deposits are utilized for hedging and liquidity aggregation on third-party platforms to provide the best price execution for traders on WOO X. To increase confidence from users, WOO X will strive to keep a safe custody ratio greater than 75%. This rate will also allow us to maintain our deep liquidity and zero-fees value proposition for our users. In the future, users will be able to opt out of allocating their assets to market makers but may not receive all the benefits of zero-fee trading.
WOO X does not operate like a typical exchange. WOO Network utilizes a combination of market makers, third-party exchanges, DEXs, and other venues to provide deep liquidity with the lowest fees, while diversifying exchange risk to the user. Funds on exchanges are used solely for hedging and liquidity aggregation purposes, and are never used for speculation. The custody ratio reports the amount of user deposit liabilities safeguarded in custody and insulated from counterparty risk with third-party exchanges and market makers. Moreover, WOO Network monitors third-party credit-worthiness 24/7/365 to minimize counterparty risk. Assets exposed on liquidity sources can be recalled to custody if counterparty risk is deemed too high.
WOO X will always strive to protect users from losses. WOO Network monitors third-party credit-worthiness 24/7/365 to minimize counterparty risk and the impact of a liquidity source becoming insolvent. This approach helps users diversify their exchange risk while accessing deep liquidity with the lowest fees. In the event that users require their assets to be claimed from WOO X, arising from liquidity issues, users are entitled to the benefits of senior creditors to the extent of applicable laws.
Data is updated every 15 minutes from a combination of on-chain data and API keys. WOO Network aims to complete a financial audit by a reputable, independent third party to verify the data reported is accurate and complete.
First, WOO tokens are not included in the reserve ratio - only WOO Network’s cash reserves and non-WOO insurance fund are included. If WOO drops in value, these reserve ratios do not change because WOO balances are excluded. Moreover, WOO Network does not use WOO tokens for collateral on loans and is committed to maintaining this policy indefinitely.
WOO X uses Merkle Tree proofs to verify user liabilities (deposits and balances). Merkle Trees allow users to cryptographically verify that their balances are included in the complete snapshot of liabilities. Moreover, WOO Network aims to complete a financial audit by a reputable, independent third party to verify the data reported is accurate and complete.
You may sometimes find that there’s a token mismatch between the assets and liabilities. This is because some of the delta-neutral hedging activities utilize futures to hedge underlying spot positions while reducing exposure to liquidity sources. WOO Network holds assets and positions against user liabilities. The strategy is strictly hedging with very tight risk limits.
WOO Network connects traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at zero or low cost.
WOO Network connects traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at zero or low cost.
Copyright © 2023 WOO Network. All Rights Reserved.
Terms of Service | Privacy Policy| Information Security Statement