News & Insights

Wootrade’s first Zealous Rhinos are unveiled: MXC, Hoo, Gate.io, Bitmart, and Oneboat Capital

Wootrade’s first Zealous Rhinos are unveiled: MXC, Hoo, Gate.io, Bitmart, and Oneboat Capital

Four exchanges and one professional trading institution are the first adopters of Wootrade’s B2B staking plan offering reduced fees for participants that stake significant quantities of WOO tokens.

The Zealous Rhino Staking Program was announced on November 6th and it didn’t take long to attract early participants. We are proud to welcome our clients and strategic partners MXC, Hoo, Gate.io, BitMart, and Oneboat Capital as the first batch of Zealous Rhinos. According to the program, rhinos will stake an amount of WOO based on their volume and fee requirements. In return, the participants will be given reduced, zero, or even negative fees on trades flowing from their end-users or clients.

Another reason we are so thrilled to have these rhinos on board is that they have already integrated the Wootrade Network into their respective platforms. Over the past six months, Wootrade has provided them with increased order book depth and cost-savings on market-making and transactions. Their inclusion in the program shows their optimism about the development of Wootrade and the WOO token ecosystem, as they not only offered support during the token launch but were also eager to join the initial batch of node participants.

Based on current usage of the Wootrade network plus the anticipated needs of Wootrade’s clients, it is estimated that the Zealous Rhino Staking Program will lock up around 40,000,000 WOO tokens in the near future, with around 500 million tokens staked in the first year (approximately 80% of the market circulation). Additionally, the staking program for retail investors and token holders is nearing completion and will be announced along with other important updates to the Wootrade platform.

For those interested in the amount of WOO tokens participants will be required to stake, here’s a quick look at the different tiers that are available. Source: Medium

Be sure to follow the progress of Wootrade on Twitter and Telegram for all the latest announcements and updates.

Read Next
Web 3 Private Equity fund FusionX Digital to become the new operator of WOO X, plans to scale centralized exchange while growing token utility

Web 3 Private Equity fund FusionX Digital to become the new operator of WOO X, plans to scale centralized exchange while growing token utility

Strategic partnership enables the WOO team to concentrate its resources on DeFi and AI, while FusionX Digital accelerates the expansion of WOO X with additional capabilities. WOO and FusionX Digital have entered into a strategic partnership that includes FusionX Digital acquiring the centralized exchange WOO X. The move brings an experienced operator of centralized exchanges into the WOO ecosystem to scale the platform, expand the global reach of the WOO brand, and increase utility for the WOO

Use YUSD as collateral on WOO X for spot margin & perpetual trading

Use YUSD as collateral on WOO X for spot margin & perpetual trading

YUSD is a Bitcoin-backed stablecoin on WOO X, enabling yield generation and use as collateral for margin and perpetual trading with risk-managed collateral.