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Binance Backs WOO Network With A $12 Million Strategic Investment


Binance is the biggest exchange platform in trading volume within the crypto market. Through its easy to use user interface, the exchange has more than 20 million users. In addition, the platform supports a number of cryptocurrencies that would increase a financier’s portfolio.

In its transfer to improved efficiency and services to consumers, Binance has a tactical financial investment of $12 million through its equity capital arm. The financial investment remains in a liquidity platform, WOO Network. This liquidity platform links users to exchanges, DeFi networks, and other organizations.

Binance Labs, which started in 2017, has actually dedicated relationships through early-stage financial investments in a number of business.

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Some consist of DoraHacks, the hackathon organizer, and LayerZero, an interoperability start-up. Likewise, Binance participated in larger fundraising rounds like the $10 million Series C fundraising round for Delusion, a crypto staking business. Thoma Bravo remained in the lead of this fundraising job.

Through a news release, Binance Labs Financial Investment Director Peter Huo presented his responses to the business’s financial investment. Initially, he acknowledged WOO Network’s amazing influence on the whole crypto community utilizing its functions and performance. Likewise, he discussed the Network arrangement of zero-fee trading through on-chain and off-chain and deep liquidity.

Moreover, Huo revealed his business’s enjoyment through its lasting relationship growth. The Binance Director commented that the business utilizes the financial investment to explore its cooperations even more.

Binance Buy WOO Fee To Impressive Development

WOO Network provides liquidity to over 40 exchanges, organizations, wallets, trading groups, and other DeFi applications as a liquidity platform. In addition, the network boasts some exceptional items such as the WOO Trade and WOO X.

WOO falls by 6% in the last 24 hr | Source: WOOUSDT on TradingView.com

The WOO Trade is a platform institutional financiers utilize for their crypto deals. On the other hand, WOO X concentrates on retail by integrating deep liquidity and zero-fee trading.

The services of WOO Network for liquidity arrangement on Binance Smart Chain started in 2015 with WOOFi Swap introducing. The WOOFi Swap uses both the market-making strategy from the organization and the network’s liquidity to lower slippage and improve rates.

Additionally, other decentralized procedures get their liquidity materials from WOO Network. Such DeFi jobs consist of Matcha, DYDX, DODO, ParaSwap, and 1inch.

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The Series A fundraising round of WOO Network in November 2021 closed with a massive quantity of $30 million. The fund instills financial investments from Bit Gush, Avalanche, 3 Arrows Capital, and Crypto.com.

According to CoinGecko, WOO tokens have actually made a rate hit of a 10% boost within the last 24 hr. Likewise, the Network just recently taped a market cap of about $1 billion.

Included image from Binance, Charts from TradingView.com



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