WOOFi is now on Avalanche
WOOFi Swap’s exceptional price execution and unmatched low fee trading is now supported on Avalanche C-Chain
WOOFi Swap launched on Binance Smart Chain (now BNB Chain) in October 2021, setting the precedent for centralized exchange quality price execution on a DEX. Boasting a swap fee of just 0.025%, users can keep more of what they earn. WOOFi is powered by its unique Synthetic Proactive Market Making (sPMM) algorithm, which mimics a CeFi order book on-chain by connecting to a custom market data feed.
The Future is Multichain
From the outset, WOOFi set its goals to be a one-stop-shop DeFi solution, helping users navigate crypto’s multichain future affordably. To achieve this goal, WOOFi will begin to integrate its platform across industry-leading networks.
WOO Network partnered with Avalanche in December 2021, bringing its signature smart liquidity into Avalanche’s rapidly growing ecosystem. The popular network has no shortage of blue-chip DeFi dApps, and alongside their impressive on-chain TVL, passionate community, and technical advantages, it was clear Avalanche is an ideal environment for building trading infrastructure. It’s no secret that WOO Network and Avalanche have a lot of synergies, especially after their Avalanche Asia Star Fund (Avatar) participated in WOO Network’s $30m seed round late in 2021.
The Avalanche deployment kicks off the multichain expansion of WOOFi while we actively explore other blockchain networks such as Fantom, Polygon, and Arbitrum, with the hopes of letting users enjoy our smart liquidity on whichever chain they are using.
It’s more than just a Swap
Since the launch last October, WOOFi has released a suite of products including Swap, Earn and Stake, which will be launched on all of the chains that WOOFi is deployed on.
In addition to the flagship decentralized exchange, WOOFi Earn is also now launched on Avalanche with a select group of yield optimizing vaults that are handpicked by the strategists on the WOOFi team. WOOFi Earn charges the lowest performance fee among all DeFi yield optimizers.
WOOFi Stake, the favorite function of the WOO Network Community, will be live on Avalanche in approximately one week (exact time to be announced) as we finetune the market-making strategy of the Swap. Upon launch, we will increase the total monthly WOO rewards to 100K for all WOO stakers in addition to the buyback from the Swap and Earn fee. This reward will be distributed proportionally to the TVL of the staking pool on each blockchain at the time of the reward distribution.
WOO Network Expands to Avalanche
With WOOFi now on Avalanche, WOO Network’s symbiotic relationship with Avalanche can continue to blossom, bringing the users of its network the ability to keep more of what they earn with low fee trading and better price execution.
Read more about how WOO is bringing its best-in-class liquidity to bridge applications, users and assets to the Avalanche Ecosystem here.
Stay tuned for all WOO Network’s exciting developments!
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