WOO Bi-weekly Roundup
WOO Ecosystem is making waves with key partnerships at the Innovation Hub, product innovations on WOO X, and consecutive wins and collaborations on WOOFi, underscoring its ongoing innovation and market leadership.
WOO Ecosystem Q2 report:
WOO Ecosystem has released its latest quarterly report, highlighting significant progress in both DeFi and CeFi, with upcoming product launches and infrastructure upgrades.
The report highlights WOOFi Pro's trading volume reaching $24 billion, a 3.75x increase from the previous quarter and capturing about 5% of global daily trading volume. Moreover, WOOFi will soon deploy on its first non-EVM network, and WOO X has improved liquidity and reduced slippage. WOO Ecosystem's plans include reducing WOO token emissions and global expansion.
Stronger RWA push
WOO Innovation Hub onboards Plume, the first modular EVM L2 focused on RWAs
WOO has partnered with Plume under the WOO Innovation Hub. Plume, a modular EVM L2 blockchain focused on real-world assets (RWAs), will enhance WOO’s ecosystem by integrating advanced asset tokenization and compliance solutions. This collaboration aims to streamline RWA project deployment and improve liquidity.
“We’re thrilled to partner with WOO. Together, we’re streamlining the tokenization of real-world assets, setting the stage for a new era in finance where assets of all kinds can be seamlessly brought on-chain. We’re leveraging WOO’s extensive ecosystem and our innovative approach to asset tokenization. Our goal is to make investing in RWAs as easy as trading crypto by creating opportunities for liquidity and investment in real-world assets. Plume and WOO are laying the groundwork for a transformative shift in the tokenization landscape,” Chris Yin, CEO of Plume Network said.
WOO X upgrades RWA Vaults to allow daily interest withdrawals
WOO X has upgraded its RWA Vaults to allow daily interest withdrawals from Treasury Bill-backed USDC, previously available only in fixed terms of seven or 28 days. OpenTrade’s platform, designed for exchanges like WOO X, facilitates the integration of RWA-backed yield into financial products with its bank-grade off-chain operations and legal structure. WOO X is the first exchange to offer such daily interest-bearing products to retail customers.
“You can now earn the risk-free rate of return on the WOO X exchange through the application you already use today to trade and get in and get out at any time,” said OpenTrade CEO Dave Sutter in an interview with CoinDesk. “This is an even better experience than what you'd see from traditional finance products. It's basically giving you that ultimate flexibility to the user to get yield on USDC with maximum safety,” he said.
WOO X enhances trading flexibility with an Isolated Margin feature
WOO X has introduced its highly anticipated Isolated Margin feature, allowing independent management of margins for individual perpetual positions. This update enhances trading control and flexibility, enabling traders to manage cross and isolated margin positions on the same instrument, customize margin modes at the symbol level, and access position and risk information easily. The isolated margin feature limits risk to the margin allocated for a specific position, protecting the overall account balance. API integrations now provide real-time margin mode and leverage information for increased transparency. Read more.
WOOFi’s back-to-back wins
$3,600 in BNB: WOOFi placed 6th out of 29 protocols in the BNB Chain trading volume incentive program, achieving a trading volume of $369 million over 30 days with a 5x multiplier. As a top-10 finisher, WOOFi will receive a $3,600 prize in BNB.
116,271 OP: WOOFi has been awarded 116,271 OP in Optimism's Retroactive Public Goods Funding Round 4, marking a significant increase of 78,000 OP from the previous round!
EisenFinance integrates with WOOFi to enhance DeFi trading
We’re excited to announce EisenFinance’s integration with WOOFi on Mantle, bringing Eisen traders low swap fees and minimal slippage! With WOOFi’s seamless swaps and enhanced yields, you can now trade new tokens with ultra-efficient trading.
WOOFi burns 1.2 million WOO tokens
WOOFi has completed its first monthly WOO token burn, matching and burning every WOO token bought back through auto-compounding on WOOFi Stake. This process significantly reduces future emissions. The initial burn for June totaled 1,294,249 $WOO.
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