Wootrade, a liquidity provider platform based in Taiwan that works in institutions domains, has raised 10 million USD in a private investment round headed by DragonFly Capital. The crypto assets exchange generated funds from the notable crypto investors, including DeFI Capital venture wing, Three Arrows Capital, and Hasley Capital. The company plans to use the funds to expand the core team and enable the launch of its new products lined up.
Full Version to Be Out Soon
The company recently closed its platform’s beta version with approximately twelve institutions in the network. As per the estimates, the forum’s early investors are already getting seven-figure spot volumes through the assets from the sixty-five thousand clients in the system. The full version of the platform would expectedly launch within the next nine months, claiming to overtake leading exchanges in terms of liquidity.
WOOTRADE’s goal is to achieve 40% of the liquidity of the cryptocurrency market and be the number one Dark Pool in cryptocurrency.https://t.co/kR2a4OFdOp
— Wootrade (@wootraderS) September 29, 2020
WOO Token to Be released Soon
The company would also launch a governance token WOO along with futures trading. Right now, the platform is working on distributing tokens to users based on their prior activities.
Jack Tan Expresses
“If you’re going to be a user of the platform, we definitely want you to have our token.” said Woo trade founder Jack Tan. He further added that the airdrop model like Uniswap is highly compelling as the token issuers can seemingly reward people needing their tokens.
Woo trade: A Solution for Liquidity Issues Faced by Decentralized and Centralized Venues
Wootrade is a venture by crypto technologists and quantitative traders to provide highly efficient liquidity solutions with intelligent order routing. It provides an institutional asset exchange that helps the customers resolve all the liquidity issues through its community-based governance model.