WOO X staking is moving onchain: Everything you need to know
WOO X staking is migrating from an inflationary model to WOO Stake’s native onchain staking app, giving you more flexibility, simplicity, and access to DeFi opportunities—all while maintaining the same great benefits you’ve experienced and more.
This upgrade is part of our ongoing commitment within the WOO ecosystem to further reduce inflationary token emissions, improve WOO utility, and reduce friction. This will be an ongoing process, rolling throughout Q1 2025 and beyond, as staked WOO is gradually migrated onchain and a new portal named My WOO is introduced.
What’s changing?
Fee discounts - just for holding WOO
In the first quarter of 2025, you will enjoy tiered WOO X benefits and fee discounts just by holding WOO in the exchange spot wallet— no lockups, just seamless utility. Users will be able to manage their benefits from the upcoming My WOO portal on WOO X. My WOO will combine cumulative holdings - across holdings, staking, and other earn products, and eventually self-custody wallets as well.
Onchain staking made simple
If you are looking to earn yields, on top of other WOO X benefits, WOO Stake is your new gateway. Access it directly from WOO X to enjoy:
- DeFi yields from 11+ networks
- Future incentives, airdrops, and rewards
- Reduced unstaking lockups—unstaking on WOO X will be reduced from 7 days to a 24-hour settlement period
Future innovations
Also coming in 2025, you’ll be able to connect your self-custody wallet to enjoy staking benefits without relying on centralized custody. Plus, WOO Stake will count WOO X volumes in staking challenges, provided you bind your wallet address to your WOO X account. This is paving the way for an ecosystem-wide staking experience where token holders have access to utility within a full suite of WOO-aligned applications.
Improving tokenomics
After the reduction in WOO incentives used for market makers and the completion of vesting for early teams and investors, the WOO token inflation has been reduced considerably. Staking on WOO X has been the largest remaining source of inflation with over 4 million WOO entering the supply per quarter.
Recent efforts by WOO X to reduce inflation have eliminated all WOO-denominated incentives for designated market makers (DMMs), allowing the entire ecosystem to reach an estimated 3% inflation rate for 2025. By shifting to a sustainable real yield model, we take another step forward towards a deflationary future for WOO.
WOO X is also exploring ways to pass along more forms of direct value accrual to the WOO token. More details will be available in early 2025, as WOO X solidifies initiatives to increase its treasury holdings of WOO and further reduce the use of inflationary incentives.
FAQs
Will staking rewards change?
Yes. Onchain staking yields depend on DeFi dynamics but offer greater transparency and flexibility. Historical data about yields and staking can be found here: https://dune.com/woofianalytics/woofi-staking
What about security?
Your on-chain assets are secured by smart contracts with WOO Stake. WOO Stake has received multiple audits, from firms including Zellic. WOO Stake was first launched in 2021 and now holds over $90m in TVL, and has never had a security incident.
Will stakers on WOO X now get airdrops, Stake Surge, and other incentives?
WOO Stake will treat the WOO X custody wallet like any other address - if WOO Stake users are eligible, WOO X can also claim. Distribution will be subject to a case-by-case process, as some tokens might not be listed on WOO X. In some cases, WOO X users may receive boosted yields in the form of another token.
What about challenges on WOO X Staking?
The Diamond Hands and Trade Arcade challenges will be phased out in Q1 along with the migration. These challenges rewarded loyal users with a multiplier on top of their base yields, passing along millions in additional WOO rewards each year. As a further nod to our diamond-handed traders, any user with a max multiplier for the Diamond Hands staking challenge will receive an achievement badge on their WOO X user profile once the staking migration is complete.
Looking Ahead
The staking migration will begin by the end of December, gradually shifting assets from WOO X custody to onchain smart contracts. My WOO will be released in Q1, and WOO X will continue to communicate progress and updates, as we further enhance WOO utility and accessibility, creating more value for the entire WOO ecosystem.
Ready to stake? Explore WOO Stake today and experience the benefits of on-chain staking!
Disclaimer
The changes in the WOOX staking mechanism described in this blog post represent potential future developments and are provided for informational purposes only. These descriptions are not guarantees, commitments, or promises regarding future functionality or features. The actual implementation, timing, and specific details of any changes to the staking mechanism may differ substantially from those described here or may not occur at all.
Users should not rely on this information for investment decisions or other purposes. Any participation in staking activities carries inherent risks, and users should conduct their own research and exercise due diligence before engaging in any staking activities. We reserve the right to modify, adjust, or entirely change any aspects of the staking mechanism at our sole discretion, with or without prior notice.
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. While we have made every effort to ensure that the information contained herein is accurate and up-to-date, we make no guarantees as to its completeness or accuracy. The content is based on information available during writing and may be subject to change.
Please note that this article includes references to third-party websites and data provided solely for convenience and informational purposes. We do not endorse or assume any responsibility for the content, accuracy, or reliability of any information, products, or services offered by third parties.
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.
