CRYPTO NEWS & DATA SPACE

CRYPTO NEWS & DATA SPACE

Woo Network Integrates LayerZero Labs

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Woo Network Integrates LayerZero Labs to let users swap native tokens from chain to chain in one click.

WOOFi has long been a trend-setter for active liquidity on chain — aiming for efficiency when others were showing off their bloated TVLs. WOOFi uses an sPMM algorithm and WOO Network’s market pricing data to give users the best price execution, alongside the lowest fees out of any DEX. On Jun 13, 2022,WOOFi hit a record 24hr volume of over $24 million, garnering even more traction despite the struggling market conditions, all with just a fraction of the TVL of competing AMM swaps. And now announcing Woo Network Integrates LayerZero Labs.

Building a multi-chain app

WOOFi aims to build the application layer with unified multi-chain experiences that allow users to easily access various blockchains.

This problem is technical on many levels, as having the ability to swap doesn’t mean the liquidity exists on all chains to facilitate this. WOOFi is perfectly suited for cross-chain as:

  • WOOFi targets major assets, such as BTC, USDC, and ETH, which are found nearly everywhere in the cryptocurrency ecosystem.
  • WOOFi is network agnostic and facilitates users on all-chains
  • WOOFi specializes in capital efficiency, reducing the amount of capital required

WOOFi cross-chain swap beta release

With WOOFi’s revolutionary cross-chain swap, you can easily swap assets across BSC, Avalanche, and Fantom with one single click in the same WOOFi swap user interface. All you have to do is select the destination chain and assets you want to swap for. WOOFi will show you the route of this transaction and fees at each step. A cross-chain swap will typically take 30 seconds to a few minutes depending on how fast the confirmation of the bridge and destination chain is.

This beta release leverages Stargate’s composability and liquidity to bridge assets and connect WOOFi swap pools on different chains.

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About LayerZero Labs

LayerZero is a user application (UA) configurable on-chain endpoint that runs a ULN. They relies on two parties to transfer messages between on-chain endpoints. The Oracle and the Relayer.

Website  | Twitter

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About WOO Network

WOO Network connects traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at zero or low cost.

  • WOO X is a front-end trading platform that fully sources its liquidity from WOO Network. Provides professional traders with superior trading execution via deep liquidity and lower to zero-fee trading.
  • WOOTrade – WOO Network’s liquidity can be directly integrated via API across partner exchanges and institutions to immediately upgrade their order books to a depth deeper than top exchanges and tighten their bid/ask spread.
  • WOOFi is a decentralized exchange platform providing the best possible swap prices and reduced slippage at lower fees.

Website  | Twitter

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SOURCE

https://medium.com/woonetwork/woofi-launches-cross-chain-swaps-between-avalanche-fantom-and-bsc-bc5080672e60

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