WOO Bi-weekly roundup

The WOO Ecosystem continues to push forward in the crypto industry with significant milestones and strategic initiatives. From record-breaking trading volumes on WOO X to exciting new developments in the WOOFi platform, this bi-weekly update highlights our ongoing efforts to expand our offerings and strengthen our position in both centralized and decentralized finance. These advancements are driving growth, enhancing user engagement, and supporting the long-term sustainability of the WOO ecosystem.

WOO X trading volume hits $1.5 Billion

WOO X has achieved record daily volumes, reaching around $1.5b, resulting in new highs for platform revenue. This achievement has been driven by social trading, with over $1.1m in copier earnings and $350k in profit shared with lead traders. This growth has contributed to a positive retail flywheel, increasing both 2C registrations and daily active users (DAUus).

WOO X COO Willy Chuang on Decrypt

Crypto Greed Index hits extreme levels: What’s next for Bitcoin? With Bitcoin soaring past $82K, the Crypto Fear & Greed Index has surged to "Extreme Greed" at 78. Our COO, Willy Chuang, shared with Decrypt's Vince Dioquino that while the market is riding high, history tells us these levels often signal looming corrections. 🔗 Read the full story

WOO token burn

In October 2024, 746,385 WOO tokens were burned as part of WOO’s enhanced deflationary mechanism. This initiative, launched in June 2024, utilizes WOOFi’s protocol revenue for buybacks and burns. Each month, WOO equal to staking rewards is bought back and burned, reinforcing our commitment to optimizing tokenomics and supporting sustainable growth within the WOO ecosystem.

WOOFi growth and upcoming launches

WOOFi continues to experience strong volume increases on spot and perpetual trading across EVM networks. The team is finalizing integrations with key platforms like Jupiter for Solana swap deployments. In the coming weeks, WOOFi Pro will launch perpetual trading on Solana, capitalizing on the recent surge in market speculation. Overall, the WOOFi spot and pro platforms are trading approximately $150m per day, translating to around ~$150k USDC in rewards for stakers next week.

WOOFi announces testnet on Story Protocol

WOOFi is participating in Story Protocol’s Odyssey testnet. This initiative allows us to explore new applications and leverage Story's infrastructure to expand decentralized finance offerings. As part of the Odyssey ecosystem, we aim to enhance our platform's capabilities, focusing on innovation in IP management and blockchain applications.

WOOFi launches new Booster Quest

The Cold-blooded Trader booster quest is live from Nov 14 to Nov 18, 2024. To participate, users must be a Level 1 staker 24 hours before the quest starts and deposit 75 or more USDC into WOOFi Pro on the Avalanche blockchain. The quest is a mystery box challenge offering participants a chance to unlock rewards by completing these tasks.

WOOFi traders can share $5K sAVAX

WOOFi traders have the chance to win a share of $5k in sAVAX this week by cross-chain swapping into $NOCHILL. With Bitcoin's strong performance, this is the perfect time for this aptly named project to be featured on the Crosschain Carousel. To enter, simply cross-chain swap into $NOCHILL on Avalanche using WOOFi before Monday, Nov 18, 00:00 UTC. The larger your swap volume, the bigger your share of the $5k prize.

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