Read the longer version of this article <a href="https://woo.org/blog/en/revamping-woo-x-business-model-to-enable-higher-growth-trajectory?utm_source&#61;CMC&amp;utm_medium&#61;partner&#43;site&amp;utm_campaign&#61;REVAMPcmc" rel="noopener noreferrer nofollow">here</a>.The goal of WOO X is to be an exchange offering unmatched transparency, and the best possible price execution - where traders spend the least amount of money on fees, spreads, and slippage. To become the perfect exchange for traders, listening to traders is of utmost importance.Over the last few years of operations, there are a few key pieces of feedback and questions that stand tall above the rest:<ol><li>“List more assets”</li><li>“Make your spreads tighter on alts and perps”</li><li>“Is the business model safe?”</li><li>“Let’s get more WOO staked”</li></ol>The solution? A fee and staking program revamp - cementing WOO X’s journey to becoming a leading CEX.<h2 id="header-0">Let’s break down what has changed, and why it addresses this feedback</h2>First, we have launched a Zero Fee Zone - a place where users can enjoy the zero fee trading they have come to know and love, on 60&#43; major spot listings including BTC, ETH, AVAX, and other mainstream cryptocurrencies.Second, the lowest possible fees have been introduced on remaining spot pairs and perp taker fees. This is a monumental change that will spearhead the mission of making WOO X the top venue for trading. But why?1. Letting you keep more of what you earnWhen you trade, there are 3 key areas that cost you money - fees, spreads, and slippage. Zero fees is all good and well, but it’s difficult for Kronos Research as a single market maker to maintain tight spreads on lower volume alt pairs.By introducing low fees on perps and these alt pairs, spreads can tighten and in turn, you can actually save MORE money than you would with zero-fee trading.2. Listings, listings, listingsIt’s no secret that WOO X isn’t an industry leader for listing assets. This is because the previous model required liquidity aggregation from other CEXs - meaning we could never be first to list. With fees introduced, we can now onboard multiple market makers, and be the first and fastest to list more pairs for you to trade.3. GrowthOne of the most exciting aspects of this revamp is growth. Affiliates, brokers, and trading terminals will be able to enjoy fee sharing, allowing for a staggering increase in partnerships and integrations.More volumes, more stakers, more growth for the entire ecosystem.4. Goodbye FUDOur community is well aware that WOO X has come under fire in the past for its unique business model. This revamp will help limit counterparty risk, reducing reliance on our main market maker Kronos Research.Finally, we have streamlined and improved the staking tiers to increase differentiation, encouraging new and existing users to stake more WOO and climb the tiers. Rewards for referrals and brokers will no longer be primarily paid in WOO tokens, in another step towards making incentivization more sustainable.An updated fee chart is shown below. Note: New fees and changes to staking tiers will take effect on Jul 3, 2023. For any questions, please contact support.woo.org<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/91b3c65885d644b69bca7932bd82bfbd.jpg" /><h2 id="header-1">On to become a top crypto exchange</h2>Despite having a solid product and a reputation for prioritizing values and transparency, the business model had a restrictive effect on growth and our ability to provide the best possible execution. In the wake of these changes, we expect a net positive outcome for our ever-growing ecosystem - our users, partners, and investors - as a result of our business model revamp.At the center of all these developments is the increasing utility of the WOO Token. Users will be incentivized to stake larger amounts and move up tiers in order to access the largest fee discounts, premium benefits, and access to new product launches. Rewards for referrals and brokers will no longer be primarily paid in WOO tokens, in another step towards making incentivization more sustainable.While other venues can hide behind opaque business models, market-leading transparency often leaves us exposed to detailed examination and scrutiny. However, transparency is an area we refuse to compromise on and WOO X will continue taking steps to address the concerns of our harshest skeptics. We believe that in the long term, this strategy will win out in every aspect.

Transforming WOO X into the best venue for trading

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