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WOO Network to provide liquidity for Cronos Chain and the Crypto.com ecosystem

DeFi / Trading / Announcements

WOO Network to provide liquidity for Cronos Chain and the Crypto.com ecosystem

WOO Network

By WOO Network

2 months ago
3 min read
WOO Network to provide liquidity for Cronos Chain and the Crypto.com ecosystem

WOO Network, an institutional liquidity provider, announced today that they would explore deep collaborations within the Crypto.com ecosystem. This includes Cronos, the first EVM-compatible blockchain designed with interoperability to the Cosmos ecosystem, and Crypto.com, a top global trading platform with over 10m users.

WOO Network supplies active liquidity to 40+ institutions, exchanges, trading teams, wallets, and decentralized applications. Incubated in 2019 by leading quantitative trading firm Kronos Research, WOO Network integrates liquidity from a wide number of sources across CeFi and DeFi, offering it to clients and users through algorithmic aggregation and trading techniques. Clients connect to the centralized network directly via API, or through the more user-friendly WOO X graphical user interface. Market makers, such as Kronos Research, are able to use WOO Network as a low-cost venue for hedging, allowing them to provide better depth and spreads on exchanges like Crypto.com.
Since 2021, WOO Network began providing liquidity on blockchains including Avalanche, Fantom, and BNB Smart Chain (BSC) via their decentralized WOOFi products, which use WOO Network’s custom market data feeds and advanced hedging strategies to provide the depth and spreads of centralized markets without the need for excessive on-chain capital. WOO Network liquidity now backs a number of decentralized protocols, including DYDX, Matcha, ParaSwap, 1inch, and DODO, leveraging capital-efficient solutions to gain an edge over passive liquidity providers. WOO Network can now turn their focus to bringing its active liquidity solutions to the dapps and bridges on Cronos.

WOO, the native token of the WOO Network, can also be integrated into a number of products across the Crypto.com and Cronos ecosystem. Currently WOO is available on  a number of networks including Ethereum, Avalanche, Fantom, Polygon, BSC, and Arbitrum.

Ran Yi, Chief of Ecosystem Development at WOO Network said: “Cronos and Crypto.com’s explosive growth in the retail market segment make the ecosystem a very attractive partner to collaborate with. Few platforms have such a large number of users, markets, and mature products in which WOO Network can plug in. Having the WOO token become a key part of this ecosystem is another exciting proposition for the WOO community.”

In January of 2022, Crypto.com Capital participated in WOO Network’s $30m Series A fundraising round, headlined by strategic partners such as Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, Avalanche, and BitTorrent.

Ella Qiang, VP of Ecosystem and Partnerships at Cronos Labs said: “ WOO Network has been at the forefront of bridging the gap between TradFi and DeFi. We are thrilled to collaborate with Woo Network and elevate DeFi on Cronos to the next level by improving capital efficiency of onchain liquidity.”

About WOO Network

WOO Network is a deep liquidity network connecting traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at lower or zero cost. Its flagship product, WOO X, is a professional trading platform featuring customizable modules and lower to zero-fees complete with deep liquidity. WOO Network was incubated by Kronos Research, a quantitative trading firm generating $5-10B in daily volume.

About Cronos

Cronos (https://cronos.org/) is the first Ethereum-compatible blockchain network built on Cosmos SDK technology. As an open-source Layer 1 chain, Cronos aims to massively scale the Web3 user community by providing builders with the ability to instantly port apps and crypto assets from other chains while benefiting from low transaction fees, high throughput, and fast finality.

Cronos mainnet has been live since November 2021 and is already home to more than 200 partners and more than 700,000 DeFi and NFT users. Cronos is powered by the Cronos ($CRO) cryptocurrency, which counts more than fifty million holders and users worldwide.

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