WOOFi is a DeFi platform under WOO network. By connecting cefi liquidity, on chain price feeds and hedging strategies, WOOFi provides the best order execution to the users with competitive swap fee and slippages. WOOFi was launched on the BNB chain at the end of October 2021. After that, it also successively added earn and stake functions, and began to support Avalanche and Fantom chains in March this year. Since its launch, WOOFi has handled more than $800 million in transactions on BNB smart chain, Avalanche and Fantom, which are only achieved through a few mainstream assets. Providing cefi level transaction execution makes WOOFi one of the top liquidity providers for DEX aggregators. On Fantom, WOOFi had a trading volume of more than US $2.6 million and a turnover rate of 1031%, while only $300,000 funds were used.
Sustainability and efficiency have always been the main objectives of WOOFi . WOOFi 's customized sPMM algorithm is combined with its own on-chain price feed, so that WOOFi can handle a large number of transactions without incentivizing idle liquidity. This is the main pain point of AMM DEX (especially in the declining market).
What is WOOFi swap?
WOOFi swap uses a new market making algorithm, called "synthetic proactive market maker (sPMM)", to achieve higher capital utilization (i.e. trading volume and liquidity ratio). The algorithm aims to provide on-chain liquidity for professional market makers to better simulate the prices, spreads and order book depth of centralized exchanges.
What is WOOFi stake?
Members of the WOO community can deposit their WOO tokens on the "stake" page of WOOFi and earn income from the swap fees paid by the users of WOOFi. Users who stake WOO in WOOFi will get xWOO as a LP token, which auto-compounds the yields.
What is xWOO?
When holding xWOO tokens, users can automatically compound the benefits they receive from WOOFi swap transaction fees. WOOFi swap fee rate is 0.025%, of which 0.02% will be awarded to xWOO holders, and the remaining 0.005% will be used to stimulate future transaction volume through service charge discount, rebates, referrals and trade mining.
How do I unstake?
To encourage long term staking, there is a 7-day unstaking period before the WOO token can be withdrawn. A 5% penalty for instant withdrawal before the unstaking period ends and it will be rewarded to the existing xWOO holders.. The WOO token in the process of unstaking can not receive rewards. At the end of the 7-day unstaking period, the staked WOO will be available for withdrawal.
What does WOOFi earn?
The use and asset management of DeFi are often time-consuming and can often be stressful. WOOFi earn, on the other hand, is committed to providing users with an easy DeFi wealth management experience. Users can simply deposit assets into the vault and let automated strategies complete the rest of the work. WOOFi will optimize the revenue in the most effective way through the algorithm, while taking into account security considerations.
Introducing WOOFi brokers to become the most efficient liquidity layer across DeFi, Web3 and GameFi
The high liquidity and low transaction costs of WOOFi make it an ideal source of liquidity for the swap functions of DEX aggregators, gamefi, Web3 and data analysis websites.
In order to provide more efficient liquidity, WOOFi introduces the WOOFi brokers mechanism to encourage more third-party applications to access the liquidity of WOOFi and help WOOFi become a one-stop liquidity solution.
At present, 8 partners have officially become WOOFi brokers - 1inch, ParaSwap, Yield Yak, Firebird, OpenOcean, DODO, BitKeep and ONTO wallet.
Looking forward to the future of WOOFi
Cross-chain Swaps and WOOFi as an omni liquidity layer.
We will keep expanding to more blockchain ecosystems such as Ethereum layer 2 and other EVM chains. At the same time, it is also planned to launch a one-click cross-chain swap feature leveraging the composability of bridges and interchain messaging infrastructure, so that users can easily complete multiple operations of cross chain and asset exchange without leaving the WOOFi interface.
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