WOO X announces $2,000,000 market maker rewards pool to boost liquidity further

WOO X, a leading global centralized crypto futures and spot trading platform, has launched a $2,000,000 market maker rewards pool. Built on existing active pools, this new initiative further enhances liquidity, reflecting WOO X's commitment to exceptional trading opportunities and strong partner support.

“The success of our first year with the main pool has been a testament to the unwavering support of our community. We are proud to share that WOO X now boasts diverse liquidity sources, an improved risk profile, and a custody ratio exceeding 100%. Our upgraded incentives program has a bigger purpose of being more sustainable by shifting from the native token emissions of the previous pool, which would greatly improve liquidity and reduce WOO inflation,” said Willy Chuang, COO of WOO X.

“Our commitment to providing efficient and liquid markets has been greatly amplified by WOO X's DMM program, which has provided us with valuable financial incentives and enhanced trading opportunities. The new $2,000,000 rewards pool amplifies these benefits and reinforces our shared dedication to transparency and trust in centralized crypto trading. We look forward to continuing our partnership with WOO X and supporting its growth as a leading global platform,” said Selini Capital Chief Commercial Officer, Christophe de la Celle.

Since August 1, 2024, the new main pool started offering $2,000,000 USDT in rewards for the year, translating to approximately $166,666 per month. The market share requirement for payout eligibility will be reduced to 2.5%.

This update follows the previous main pool, which ran from August 1, 2023, to July 31, 2024, providing 9,000,000 WOO in incentives over the year, equivalent to roughly $150,000 per month, with a market share requirement of 7.5%.

A market depth program will be launched in September, featuring a rewards pool of 6,000,000 WOO, while the 5,000,000 WOO altcoin pool will continue as planned until December 12, 2024.

Meanwhile, WOO X is also evaluating its Spot pools and Spot incentives design, noting that more information will be disclosed in the coming weeks, including perpetual contracts for the upcoming pools.

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