By
Godfrey Benjamin
April 29th, 2024
The announcement comes on the back of one of the watershed moments in the history of WOO X: this January, the platform managed to raise $9 million to boost exchange liquidity.
WOO X, the crypto futures and spot trading platform has announced the launch of three Index Perpetual Contracts. Jointly developed with Wintermute and GMCI, GMCI 30, GMCI L2, and GMCI Memes Index Perpetual Contracts come to light as the first to have centralized exchanges embrace L2 and Memes indices.
The Genesis of a New Trading Era
WOO X has announced the new trading tools today. The GMCI L2 index will become very useful for the layer-2 blockchain technologies in pointing out their significance in ramping up scalability and efficiency contribution to main blockchain platforms. The GMCI Meme Index captures the essence of meme culture with the top meme coins by market capitalization.
Moreover, with the advent of the GMCI 30 Index, an efficient hedging mechanism for traders to give a panoramic view of all the major players in the market and ensure benchmark quality and performance is done in the realm of digital assets. This diversified market exposure mitigates the volatility typically associated with individual crypto assets and further includes top cryptocurrencies, like ETH, BTC, SOL, and BNB.
A Collaborative Triumph
This is not an ordinary launch for expanding the spectrum of trading with new instruments; this is a very determined attempt to enrich the ecosystem of trading with products that are both strategic and diversified. Willy Chuang, COO of WOO X, emphasised this development as the most important to date, speaking to the spirit of collaboration between WOO and projects like Wintermute and GMCI in evolving their offerings and pushing the envelope on the crypto market.
The role of the liquidity provider is very reliable in this contract, and market access stability; Wintermute is perfectly positioned. With their strong experience in algorithmic and high-frequency trading, they offer deep liquidity to attract and make trading smooth and frictionless. Evgeny Gaevoy, CEO of Wintermute, expressed excitement about bringing a suite of index products to the crypto asset market and stressed that such products are scarce in the crypto market.
The collaboration is an industry-speaking partnership, said GMCI CEO Maarten Botman. “This collaboration underscores our commitment to innovation, offering investors enhanced access and robust investment opportunities in the ever-evolving digital landscape,” he said.
A Continuation of Strategic Expansion
The announcement comes on the back of one of the watershed moments in the history of WOO X: this January, the platform managed to raise $9 million to boost exchange liquidity. Joining the market makers like Wintermute and Amber was the purpose of the round aimed to improve liquidity, especially in BTC and ETH perpetual futures markets. This was one of the parts of a greater strategy of transitioning from a single liquidity provider model to a diverse ecosystem that will enhance robustness and appeal to many sorts of traders in the trading platform.
All put together, the WOO X launch of Index Perpetual Contracts through collaboration with Wintermute and GMCI can be one of the greatest leaps in the crypto trading landscape.