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News & Insights

A monthly WOO Network roundup: February 2022

A monthly WOO Network roundup: February 2022

WOO Network had a busy February, with a milestone Binance listing following Binance Labs’ $12M investment, alongside the launch of WOOFi Earn, WOO listed on Kraken, and much more!

The WOO Token

WOO comes to Binance! A month after Binance Labs led WOO Networks Series A+ fundraising round with a $12M investment, Binance listed WOO Network (WOO) and opened spot trading for WOO/BNB, WOO/BTC, WOO/BUSD, and WOO/USDT trading pairs, as well as margin trading up to 3x leverage.

WOO is also now available to buy directly with Visa or Mastercard on Binance!

Binance Liquid Swap added support for WOO, opening two high-yield liquidity pools: WOO/BNB and WOO/USDT.

The monthly WOO burn for January was executed at the start of February, seeing 669,814 WOO tokens bought back from the open market and burned, forever removing them from the total supply.

WOO lands on Kraken!

WOO is now available on Rainbow Bridge between Ethereum, Near, and Aurora.

WOO X

BTT holders on WOO X were distributed BitTorrent’s new token, BTTC. Subsequently, BTT has been delisted from WOO X, and BTTC is now available to trade.

Daily free withdrawals are here for WOO X Stakers! No matter the network, asset, or withdrawal size, WOO X stakers are now entitled to daily free withdrawals, the amount of which depends on their staking tier. Why spend hundreds of dollars on Ethereum transactions when you can just stake WOO on WOO X for free ERC-20 withdrawals for life?

A secondary snapshot was taken of WOO X users staking at least 1800 WOO to give them voter eligibility in WOO DAO.

With 2021 behind us, the WOO community was eager to see a WOO X roadmap for 2022. WOO Network is taking a new approach to a product roadmap this year, doing away with a rigid model that neglects the fast-moving nature of this industry.

The new approach to a roadmap doesn’t mean that WOO Network doesn’t have product releases planned for 2022. Let’s take a look at some of the next big releases:

Futures (perps):

More custodians:

More advanced trading features:

WOOFi

WOOFi Earn is live! WOOFi earn is a secure and profitable hassle-free DeFi yield finder. Deposit your crypto today on both BNB Chain or Avalanche and simply sit back and watch it grow, while WOOFi Earn handles everything else.

Strategists in the WOOFi team constantly look for vaults with long-term sustainable yield, prioritizing a perfect marriage of security and profitability. As with all WOO Network products, the performance fee is the lowest across the space.

WOOFi Earn also saw two upgrades in February, with the addition of USDT, USDC, BTC-BNB, ETH-BNB, and CAKE-BNB vaults, as well as UI improvements so you can watch your yields grow in real-time.

WOOFi is now on DefiLlama. Please ignore the terrible Llama joke on our Twitter feed, it sounded a lot better in our heads.

WOO DAO

WOO DAOs job board is now live, where job openings in this booming industry are regularly posted.

More WIPs were successfully passed by voters in WOO DAO this February:

  • [WIP #3] WOO DAO providing liquidity into Bancor’s WOO pool
  • [WIP #2.1] Expanding WOO DAO’s liquidity in Uniswap v3
  • [WIP #4] Establishing the Community Empowerment Program (WOO Force)
  • [WIP #5] Creating WOO Options with Theta Nuts

Business Development

WOO Network partnered with Bitget, including the listing of WOO on Bitget’s spot market.

AGBuild announced their investment in WOO Network.

Community

Building Wootopia Volume 6 took place in February with Ran (Head of Ecosystem), Ben (Marketing VP), Kevin (Head of DeFi), Mitch (WOO Ventures and WOO DAO), and Julia (Social media and marketing). This was a chance to set the stage for 2022, as well as collect feedback and understand the needs of the community while answering any questions that might be thrown at the WOO Network team.

Kronos Research CTO Hank Huang and WOO Network Marketing VP Ben Yorke joined a discussion hosted by dYdX on all things liquidity and market-making.

282 WOO Year of the Tiger NFTs were minted on Project Galaxy by WOOFi stakers.

WOO Network made an appearance in Bloomberg Turkey!

WOO Network opened an official Ukrainian community channel.

The first episode of WOO Network’s content series with leading Russian-speaking crypto media platform Forklog went live, featuring an article with leading DeFi aggregator 1inch, giving you insights into the people pushing the space into more regions of the world.

WOO Network hit 75,000 followers on Twitter!

Stay tuned for all WOO Network’s exciting developments in March!

The content above is neither a recommendation for investment and trading strategies nor does it constitute an offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

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