TechFlow news — According to its official website, WOO has released its Q3 2024 summary, highlighting significant milestones achieved across the WOO ecosystem:
WOO X launched its largest product release since entering the futures market, with its Social Trading Platform gaining widespread traction within the first few weeks of launch.
The total amount of WOO tokens staked on WOOFi surpassed that on WOO X for the first time. By the end of Q3, the total staked WOO on WOOFi reached 315 million, a 14.2% increase from Q2. Stakers earned approximately $1.14 million in real yield, distributed in USDC. Additionally, during the initial phase of WOOFi’s new Stake Surge campaign, participants received OP tokens worth around $107,000.
Since the launch of its CounterTrading feature, the total assets under management in active strategies have reached $3 million, generating a total net profit of $600,000 for copy traders.
The WOO ecosystem enhanced transparency by aligning token supply adjustments with event-based metrics (the remaining 300 million tokens are locked and will be released upon achieving specific conditions: implementation of a decentralized, token-based voting mechanism to govern token usage, and reaching several key market capitalization milestones on a fully diluted basis). The network also achieved nearly a 20% reduction in latency, improved crypto asset custody via Fireblocks, and streamlined KYC support through third-party provider Sumsub.
The WOO Innovation Hub has successfully partnered with twelve projects across diverse sectors, driving innovation and expanding the ecosystem.
