Oct 17, 2024

WOO begins AI strategy with Almanak partnership under Innovation Hub

The WOO Innovation Hub has announced a partnership between WOO—an ecosystem featuring crypto exchange WOO X and WOOFi protocol—and Almanak, a developer of AI tools for analyzing financial markets. The partnership aims to integrate AI capabilities to enhance decision-making and optimize trading strategies in DeFi, informing how WOO will further leverage AI as a key component to differentiate itself in the market.

Almanak provides AI agent-based tools designed to help users navigate the complexities of financial markets with increased accuracy and efficiency. The platform supports both institutional and retail users with intelligent agents capable of autonomously managing and growing portfolios while adapting to real-time market conditions. By focusing on yield optimization, risk management, and strategy development, Almanak aims to equip users with personalized financial tools that enhance interaction with DeFi.

WOOFi is integrating Almanak’s AI-driven quantitative strategies to optimize trade execution and enhance decision-making for developers, traders, and liquidity providers in the competitive DeFi landscape.

“DeFi is a relatively new market with volatility and unpredictability. This partnership with Almanak is a step toward integrating advanced AI and machine learning technologies, equipping our community with the tools needed to navigate the evolving DeFi landscape. This collaboration also brings WOO closer to leveraging AI for overall market positioning,” said Abby Huang, WOO Innovation Hub Lead.

Michael Herzyk, Almanak CEO for his part said, "We’re thrilled to partner with WOOFi and bring our AI agents into such a thriving DeFi ecosystem. Our agents are designed to optimize financial strategies, and with WOOFi’s extensive user base and liquidity pools, we believe this collaboration will unlock new opportunities for growth and innovation in decentralized finance."

About WOOFi

WOOFi is a leading decentralized exchange (DEX) with over $42B in cumulative trading volume and more than 250k monthly active users. It supports 11 blockchains and offers a diverse range of products, including earn vaults, simple swaps, cross-chain swaps, and perpetual futures. The native token of WOOFi, WOO, can be staked to share 80% of all protocol fees.

About Almanak: Almanak is an agent-centric platform that allows users to develop, optimize, and deploy financial strategies using AI-driven agents. Its platform equips users with the tools to create autonomous, self-improving agents that can manage and grow portfolios by adapting to changing market conditions in real-time. Built by experts from tech & finance, and backed by top VCs, Almanak leverages state-of-the-art machine learning models and reinforcement learning techniques to provide continuous optimization of financial strategies. Users who wish to learn more and get early exposure to Almanak-related opportunities can already sign up for an Almanak early access waitlist.

Disclaimer

The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The information provided in this article is for general informational purposes only and does not constitute financial, investment, legal, or professional advice of any kind.

Cryptocurrencies involve significant risk and are NOT suitable for the majority of investors. The value of digital currencies can be extremely volatile, and you should carefully consider your investment objectives, level of experience, and risk appetite before participating in any staking or investment activities. We strongly recommend that you seek independent advice from a qualified professional before making any investment or financial decisions related to cryptocurrencies. We shall in NO case be liable for any loss or damage arising directly or indirectly from the use of or reliance on the information contained in this article.

The collaboration between WOO and Almanak highlighted in the content above does not indicate in any way that WOO provides, or will provide financial service. WOO does NOT endorse, guarantee or provide advice for any products or services of its business partners. This cooperation shall in no event be interpreted as an assurance or guarantee for the listing of any tokens, whether presently existing or to be generated in the future, on WOO X or any associated exchange platforms, nor does it imply any commitment from WOO X to list any tokens on its platforms or others. The decision to list any tokens is governed by and subject to a series of separate criteria and procedures, independent of this cooperation or business partnership.

Nothing in this article or any related content shall be construed to create or suggest the existence of a partnership, joint venture, agency relationship, or any form of legal association between WOO and Almanak. Each party is an independent entity, acting solely in its own capacity, and is responsible for its own actions, decisions, and associated risks. The collaboration mentioned does not imply any form of shared liability or financial obligation, and each party will bear its own risks and responsibilities. Furthermore, this article should not be interpreted as providing any guarantees regarding the outcome of any business ventures or collaborations mentioned, nor shall be an indication of guaranteed success or profitability for either WOOFi, WOO X or Almanak, or any of their business partners.