WOO X Transitions from Inflationary Staking Model to On-Chain Staking App, Empowering Users with Greater Flexibility and Enhanced DeFi Opportunities

By moving away from an inflationary model, WOO is not only creating sustainable WOO token utility but also providing more opportunities for our users to engage with DeFi and earn yield with fewer barriers.

Crypto trading platform WOO X, known for its innovative trading solutions, is transitioning from its inflationary staking model to WOO Stake's native on-chain staking application. This shift aims to enhance user experience and provide greater flexibility within the ecosystem.

With a focus on reducing inflation and increasing WOO token utility, the transition will involve several key aspects. Firstly, tiered fee discounts will be introduced, where users can obtain these benefits simply by holding WOO in their spot wallet, without any additional staking or lockups. This is set to roll out in Q1 2025.

Moreover, users will gain direct access to on-chain staking through WOO Stake, enabling them to earn yield in addition to other benefits offered by WOO X. Notably, users can connect their self-custody wallets to enjoy staking benefits without relying on centralized custody.

As part of this move, WOO X will be phasing out WOO-denominated incentives for market makers, reducing the token inflation to an estimated 3% in 2025. This sets the stage for long-term sustainability and a more efficient, rewarding ecosystem for WOO X users.

"By moving away from an inflationary model, WOO is not only creating sustainable WOO token utility but also providing more opportunities for our users to engage with DeFi and earn yield with fewer barriers," said Ben Yorke, VP of Ecosystem at WOO.

"This is just the beginning of new initiatives from WOO apps to pass along more forms of direct value accrual to the WOO token."

To learn more about WOO X, download the app or visit the WOO X website. For any queries, please contact [email protected]

About WOO X

WOO X is a global centralized crypto futures and spot trading platform that offers best-in-class liquidity and price execution. With a daily volume exceeding $1.5 billion, WOO X is home to hundreds of thousands of traders worldwide.

WOO X traders benefit from radical transparency through the industry-first live Proof of Reserves & Liabilities dashboard and the company's mission to maintain the trust of its growing community of traders.