blockchainreporter.net
Introducing WOOFi: Enhanced Avalanche Liquidity Through Partnership with THORSwap
A thrilling announcement comes from THORSwap, unveiling their new DEX Aggregator liquidity provider – WOOFi! In partnership with the WOO Network, a hybrid of centralized finance (CeFi) and decentralized finance (DeFi) services, THORSwap plans to provide its users with increased liquidity on the Avalanche blockchain. This collaboration also widens the WOOFi liquidity scope, enabling a connection between any WOOFi and any THORSwap accessible asset, eliminating previous restrictions.
Unveiling WOOFi
Part of the WOO Network, WOOFi offers a platform for traders, exchanges, institutions, and DeFi protocols to tap into comprehensive liquidity and perform cost-effective trading. It exposes the liquidity of WOO X, the central exchange, fully on-chain.
With this partnership, THORSwap users are granted access to an extended liquidity pool for tokens such as $AVAX, $USDC, $USDT, $BTC.b, $WETH.b, $WAVAX, $WOO. Users can seamlessly switch between significant Layer 1’s, including Bitcoin, Ethereum (along with 4,500+ ERC-20 tokens), Cosmo Hub ($ATOM), THORChain, BNB Beacon+Smart Chain, Dogecoin, Litecoin, Bitcoin Cash, without the necessity for asset bridging or wrapping. THORSwap is committed to delivering a top-notch decentralized, permissionless, self-custodial cross-chain trading experience, all executed within a single transaction.
The Ultimate Liquidity Aggregator
THORSwap aims to merge the best liquidity sources in the crypto sphere to provide a smooth cross-chain exchange experience. WOOFi offers access to considerable liquidity through the WOO Network’s decentralized exchange.
Through internal quality assurance, WOOFi was found to be a formidable competitor, often emerging as the leading liquidity source for Avalanche’s native Bitcoin to stablecoins like $USDC and $USDT. As a super-aggregator of diverse liquidity sources, THORSwap continues to improve and provide users with enhanced options for optimal pricing, superior routing, and minimal slippage — only the best quote is prioritized.
Upon the completion of THORChain’s integration of BNB Smart Chain, WOOFi is expected to be incorporated as a BEP20 liquidity source.
Advantages for the $THOR Community
Like many liquidity sources, WOOFi charges an exchange fee on every swap. However, with this integration, THORSwap has become a whitelisted WOOFi broker — earning 0.5bps from each trade routed to WOOFi via the broker’s application, resulting in a new source of protocol revenue.
Put simply, this arrangement implies:
- WOOFi applies a 2.5bps (0.025%) fee on all swaps.
- THORSwap receives a 0.5bps (0.005%) rebate from WOOFi.
- 75% of this rebate is distributed to $vTHOR holders, increasing #RealYield.
Technological Advantages for SwapKit API Partners It is certain that access to WOOFi liquidity is now incorporated into SwapKit — THORSwap’s comprehensive suite of cross-chain services. Consequently, all SwapKit partners can tap into aggregated Ethereum Mainnet and Avalanche C-Chain Liquidity with THORChain native swaps, DEX aggregation, yield, analytical tools, and more.