Place/Date: - November 24th, 2020 at 6:45 pm UTC · 3 min read
Contact: BitMax.io, Source: BitMax.io
BitMax.io (BTMX.com), an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of Wootrade’s WOO token under the trading pair of WOO/USDT on November 24th at 10:00 a.m. EST.
Backed by Kronos Research, Wootrade is a layer one trading infrastructure with a graphical interface that can integrate with any exchange, trading desk, wallet, dApp, or other trading-related platform. The native token, WOO, can be used as the access to the network through staking or as the payment or collateral for advanced trading and investment products.
The Wootrade network was conceived and incubated by the founders of Kronos Research, one of the largest quantitative firms in the industry. With deep liquidity provided by Kronos’s roster of institutional traders and market makers, Wootrade is designed to be a solution to the lack of platforms capable of handling daily trade volume in excess of $2 billion.
BitMax.io will also join the Wootrade’s B2B Zealous Rhinos staking program. This strategic integration will allow BitMax to enjoy reduced, zero, or even negative fees on trades by staking WOO.
Unlike other proprietary trading platforms, Wootrade is designed to be a platform agnostic network that connects liquidity from multiple exchanges and institutions. Wootrade is able to leverage these integrations to provide potentially the tightest spreads and best depth for traders using the network. Wootrade clients, like exchanges and DeFi platforms, are also able to enjoy zero-fee trading.
As follow-up to the launch on BitMax, Wootrade will introduce several new network features in early 2021. Woo X, a trading GUI for professionals, is planned for Q1’21 to make advanced trading methods more accessible. The first quarter of 2021 will also see the launch of retail staking, providing further utility for the WOO token. Wootrade Futures and Margin Trading are planned for Q2’21.
Shane Molidor, Global Head of Business Development at BitMax.io, said:
“We’re excited to list WOO on BitMax.io; it will be beneficial for both BitMax.io users and users of the Wootrade network. Wootrade offers a new, efficient way to manage strategies that will resonate with traders. This listing collaboration gives BitMax.io users access to Wootrade through the WOO token, and at the same time, provides Wootrade users additional method to further invest in the platform.”
Launched in August 2018, BitMax.io is a leading digital asset trading platform with a broad range of financial products and services for both retail and institutional clients, with robust design ranging from innovative volatility products to margin trading, derivatives trading, staking products, and other investment solutions.
Wootrade is the combined effort of the top quantitative traders and technologists in crypto and allows for superior execution through intelligent risk management and order routing. Their solutions resolve liquidity issues faced by both centralized and decentralized trading venues while allowing for community based governance.