Summary:
WOO Network proposes the addition of WOO to Venus’ Isolated Lending Markets.
Background
WOO Network is a deep liquidity network that connects traders, exchanges, and institutions with best-in-class liquidity and zero to even negative trading fees. Within the WOO ecosystem resides a suite of powerful trading products that include WOO X, WOOFi, and WOOFi DEX. WOO X is a zero-fee CEX for spot and futures; WOOFi is a multi-chain DEX for swapping and earning, and WOOFi DEX is an order book DEX with deep liquidity and advanced trading tools.
About the WOO token
WOO is a utility token deeply embedded within WOO Network’s CeFi and DeFi products, which provides holders with staking rewards, fee discounts, governance rights, and a host of other benefits across the full suite of WOO Network products.
Benefits
Individuals who want to maximize their exposure to WOO will be able to lend their WOO and borrow other tokens such as BUSD. They could then use that capital to trade, without the risk of losing exposure to WOO. There will be many yield arbitrage scenarios where users might be content to just lend out WOO, earning interest in the process.
Investors can make use of Isolated Lending to earn leading single-sided APRs by lending their WOO, borrowing USDT or BNB, and depositing into WOOFi Supercharger vaults.
Traders can also leverage Isolated Lending to experience the power of zero-fee trading on WOO X without having to buy 1800 WOO. To do this, a user would simply borrow 1800 WOO from Venus and stake it on WOO X to receive ~5% APY, plus other bonuses like free withdrawals, referral rewards, and trade-to-earn rebates on taker orders.
Incentives:
WOO Network has ~180K Twitter followers and will leverage this to provide strong social media support.
Liquidity:
We will seed the vault with 100,000 WOO.
Token address:
0x4691937a7508860f876c9c0a2a617e7d9e945d4b
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