WOO X Secures Partnership with Algorithmic Trading Firm, Wintermute

<p>WOO
X has successfully onboarded Wintermute, an algorithmic trading firm and
liquidity provider in the digital assets realm. Wintermute, boasting $3.6
trillion in cumulative trading volumes, has joined forces with WOO X to enhance
liquidity and market efficiency, serving as a designated liquidity provider.</p><p>Strategic
Transformation: Collaboration with Top Liquidity Providers</p><p>This
strategic move marks a step in the proactive transformation of WOO X's business
model, which includes the incorporation of top-tier liquidity providers.
Wintermute, headquartered in London and Singapore, aligns seamlessly with this initiative.</p><p>Jack
Tan, Co-Founder of WOO, expressed satisfaction with the partnership, citing
Wintermute's impressive track record and reputation over the years. Tan
emphasized the alignment of values, particularly in the areas of technical
aptitude and innovation related to decentralization of infrastructure and
governance, which are core elements of WOO's mission.</p><p>"Wintermute's
commitment to creating efficient and liquid markets in digital assets aligns
with WOO X's focus on superior execution and advanced trading features. Our
expertise in providing robust liquidity complements this collaboration grounded
in our shared commitment to transparency, which is critical to building trust
in centralized crypto trading products," said Evgeny Gaevoy, the CEO and
Co-Founder of Wintermute.</p><p>Since
August, WOO X has actively pursued the onboarding of
leading market makers, introducing sustainable and competitive market maker
incentives to reduce dependence on any single liquidity provider. Originally
launching in 2019 with a single market maker model, designated market makers
now contribute liquidity for 60% to 70% of futures volumes.</p><p>In
addition to Wintermute, other notable liquidity providers, such as Selini
Capital and Black Code Group, are now supporting WOO X. Selini Capital, known
for consistently contributing 15 to 25% of all maker volume on perpetuals,
showcases notable trading capabilities.</p><p>“Transparency
and reducing counterparty risk are the utmost priorities for WOO X,” Tan noted.
“We as users are inherently distrustful of centralized financial systems, and
the only way to inspire confidence is to work with partners who share our
principles and integrity.” </p><blockquote><p lang="en" dir="ltr">We're excited to announce our partnership with <a href="https://twitter.com/wintermute_t?ref_src=twsrc%5Etfw">@wintermute_t</a> to further increase and diversify liquidity on WOO X<a href="https://t.co/YQgyvGLNEE">https://t.co/YQgyvGLNEE</a></p>— WOO X (@_WOO_X) <a href="https://twitter.com/_WOO_X/status/1734560855339966500?ref_src=twsrc%5Etfw">December 12, 2023</a></blockquote><p>WOO
X and Wintermute: A Relationship in the Crypto Realm</p><p>Wintermute,
a global algorithmic trading firm with billions in average daily trading
volume, engages in OTC trading and provides liquidity across 60+ centralized
and decentralized exchanges. The firm actively participates in the ecosystem,
investing in early-stage Web3 projects and supporting traditional financial
institutions venturing into crypto.</p><p>WOO
Network democratizes access to top-tier liquidity and trading execution while
maintaining competitive costs. The network is comprised of two platforms: WOO X and
WOOFi, the latter being a top 15 DEX by 24-hour volume. The native token, $WOO,
offers holders a unique position to engage and maximize benefits in both the
<a href="https://www.financemagnates.com/tag/defi/" target="_blank" rel="follow">DeFi</a> and <a href="https://www.financemagnates.com/tag/cefi/" target="_blank" rel="follow">CeFi </a>ecosystems. The team of 170 employees operates from 12 cities
across eight countries in <a href="https://www.financemagnates.com/tag/europe/" target="_blank" rel="follow">Europe</a> and Asia.</p>

This article was written by Tareq Sikder at www.financemagnates.com.