Driven by the goal to create the deepest liquidity network, Wootrade is working to bridge ties to the Algorand ecosystem and community. As a first step, Wootrade will list ALGO on the Wootrade network, enhancing the liquidity for traders on WOO X and more than 15 other exchanges, institutions, and trading platforms.
Algorand is the only blockchain protocol other than Ethereum to have support for both USDT and USDC. …
Security in the digital asset space is too big to ignore. Many people list security as one of the reasons they are hesitant to fully enter the space, a concern that isn’t lost on Wootrade. The goal is to let users feel empowered by the Wootrade line of products and use them in a worry-free manner.
The Wootrade team has withheld a large number of tokens that will be used to drive adoption in the ecosystem. In order to prevent these tokens from having a single source of failure, they’ve recently been moved to a Gnosis Safe Multisig wallet. Gnosis…
This month, we received multiple Twitter threads, new videos on Youtube, comprehensive articles in multiple languages, creative graphics, and mountains of cool memes.
All the submissions were carefully reviewed by the Wootrade team based on the accuracy of the information, level of research, quality of delivery, creativity, and effort. Congrats to the winners!
*All statistics in this report are accurate as of April 8, 2021.
Quick token insights:
WOO X has been making a lot of headlines with its zero-fee model. Unlike other platforms, Wootrade is able to optimize revenue streams on the back end, allowing the platform to earn revenue but still offer users a feeless trading experience. Not surprisingly, we get tons of questions from the community about this, so we thought we’d break it down here.
In the traditional finance world, people use online brokers to trade stocks. Two of the most user-friendly brokers are WeBull and Robinhood, both of which also offer zero commissions on trading. One way to monetize this model is by…
Let’s start this edition with some token-related topics. The second WOO buyback and burn event was completed with 817,564 tokens sent to the burn address in a single transaction on March 10. Check out the burn transaction ID to see for yourself: 0x0695b1814e92ed9402517c1d19b5eb9976c3cb26dcabc3f0ce6fad70bf6bab20
Also during the month, the Zealous Rhinos staking address for institutional clients got a deposit of 870k WOO.
Wootrade also introduced WOO Ventures — a strategic investment program that will support emerging blockchain startups and share the income with WOO token holders. …
DeFi was made to be composable — many different protocols and assets can work together to make a more functional and lucrative financial system. There are countless new startups popping up in the space, and some of them will provide a lot of value if given the resources to expand.
WOO Ventures was set up to identify early-stage projects that, as they mature, can provide value to Wootrade, the WOO token, and the blockchain space in general. In 2020, the first WOO Ventures investment was made in DODO, a decentralized exchange and aggregator that is now one of the leading…
WOO X is our professional trading GUI. The goal of WOO X is to let traders access all that liquidity aggregated on the Wootrade network, while also giving institutional clients a portal to manage their accounts.
Wootrade and SushiSwap will be working to improve the state of on-chain liquidity and trade execution through the use of SushiSwap’s upcoming Mirin proposal and SubPools. SubPools are a new innovation that allows third-parties, such as exchanges, to provide yield-bearing pools to their users with unique fee structures, reward schedules, and governance parameters. The Mirin proposal was introduced in early January, and after passing, will be implemented later in 2021. Wootrade will be among the first adopters, giving Wootrade users more ways to put their assets to work, while benefiting the greater DeFi ecosystem and SushiSwap in general.
In 2019, Wootrade was founded and incubated by Kronos Research, one of the powerhouses in the CeFi trading scene. The vision was to connect exchanges, institutional traders, and OTC desks with a zero-fee liquidity network, based on the idea that aggregation and expertise would make everything more efficient. This quickly gained traction, and in 2020, Wootrade completed a successful seed round, led by some of the top VCs in the blockchain space. Later that year, the WOO token launched, giving retail investors a chance to collect a portion of the value being transacted through the network.
However, it was around…
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