Some significant changes today:
We are introducing a pure $WOO buyback model and sunsetting WOO Stake. Staking has been ineffective at creating demand and the goal is to remove $WOO from the market, modeled on the success of bluechip DeFi protocols. https://t.co/9EoA2SZMwO
2 more Perp Anything markets are LIVE
$AI πΆ - Artificial Inu (@artificiallyinu)
$STONK π - StonkFun (@LaunchOnSF)
Long or short both across 500+ Orderly-powered DEXs
Friday night in Asia so wanted to drop a @_WOOFi update:
We deployed the new oracle (see quoted post) and switched over to it yesterday, observing results before adding more onchain RWAs. So far so good, it seems to be performing well.
Main improvement was faster stale pricing protection which is the major source of negative PnL from aggressive bots - the more that's improved, the more we can tighten up quoting and the more we earn, which is good for $WOO buybacks.
We caught up with the major BNB Chain wallets/aggregators to make sure the new oracle was supported. They were quick, as always.
We also spent time talking to exchanges about the visual refresh, got the new icon on Bithumb and Bybit, hopefully a few more big ones soon.
Our next major R&D initiative is around bundling quotes which could make quoting assets even cheaper, potentially allowing us to deploy the PropAMM on Ethereum mainnet where a ton of untapped flow is.
Should know more here in a few weeks.
Anyways, I had Claude slop up an explainer video just in case some of you weren't familiar with how @_WOOFi functions. It wasn't my best work, but for a one-shot it does the trick. Enjoy your weekend if you get one
Just a quick announcement:
WOOFi is NOT affected by the security incidents related to PHP, Railway, or Node.js.
All operations are normal and our team continues to monitor security updates as we build.
Today, we began speaking to data sites, exchanges, and other apps about the upcoming $WOO token visual changes.
$WOO is powering WOOFi, our onchain swap and earn protocol for RWAs and Crypto assets.
The real world is coming onchain.
2/ Why change?
We've distributed ~$10m in rewards to stakers since 2021, but most value leaks out through direct USDC rewards (~37%) or is later sold, dampening the impact of the program.
Everyone wants the same thing - deflationary tokenomics, fewer tokens on the market.
Some significant changes today:
We are introducing a pure $WOO buyback model and sunsetting WOO Stake. Staking has been ineffective at creating demand and the goal is to remove $WOO from the market, modeled on the success of bluechip DeFi protocols. https://t.co/9EoA2SZMwO
Our @_WOOFi PropAMM volumes the past 7 days
HyperEVM is growing fast
Hope to add a ton of RWA assets soon
That will push the RWA chains - BNB Chain, Robinhood, and Base up a lot over the next few months
Getting ready for a big DeFi resurgence - so much growth to capture
$WOO
What WOOFi did this week:
β«οΈ Improved Swap pricing on HyperEVM
β«οΈ Deployed and tested a new oracle on BNB Chain, which will be the backbone of our bStock liquidity
β«οΈ Preparing a new volume tracking API for an updated dashboard
RWAs are coming and WOOFi has the liquidity