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Home»ADOPTION NEWS»Cryptocurrency exchange WOO
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Cryptocurrency exchange WOO

By Crypto FlexsJanuary 18, 20242 Mins Read
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Cryptocurrency exchange WOO
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Cryptocurrency exchange WOO

In a statement shared with The Block, WOO said it received new funding from designated market makers, with participation from Wintermute, Selini Capital, Time Research, Presto Labs, Pulsar, AlphaLab Capital, Efficient Frontier, Amber, and Riverside Hedge.

“We are excited to share the expanded market maker relationships at WOO “We expect to see significant improvements in liquidity for WOO

Woo said it revamped its business model in the third quarter of last year to work with more liquidity providers for spot and perpetual futures markets to “move away from Kronos Research as a single liquidity provider.”

Kronos, November 2023 I experienced hacking This reportedly resulted in a loss of approximately $25 million. Kronos suspended all transactions following the event, which at one stage resulted in: problem Woo

WOO “Some notable actions include updating the fee structure, strengthening the technical infrastructure to support simultaneous quoting of many DMMs, introducing maker rebates to USDT, and launching a DMM rewards pool to further incentivize DMMs to provide liquidity to WOO “There is a ,” the company said. Thursday statement.

Liquidity Enhancement Plan

The exchange plans to launch a DMM program for the spot market in the first quarter of this year. The company added, “Through these initiatives, WOO

The company plans to use the newly raised funds to expand into global markets and obtain regulatory licenses, according to the statement. Tan noted that the main purpose of the funding was to “align the interests of liquidity providers” rather than to raise capital, as market makers who pledged to improve WOO X’s liquidity participated in the round.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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