KINGSTOWN, Saint Vincent and the Grenadines, June 13, 2024 (GLOBE NEWSWIRE) -- WOOFi, the omnichain decentralized finance platform featuring swaps, has achieved a milestone by securing 8th position on DeFi Llama perps rankings with a $419 million 24-hour trading volume, underscoring its exponential growth and significant presence in the decentralized finance (DeFi) space.
Note: WOOFi Pro is not yet tracked on DeFi Llama, but our claim can be verified using the WOOFi Pro Dune dashboard.
Source: https://woostats.io/
WOOFi showcased robust trading activity, with an impressive 24-hour perpetuals volume reaching $405 million and a spot volume of $29 million on 11/06/24. This places WOOFi ahead of well-established DeFi perps protocols GMX and ApeX, both of which averaged half of WOOFi's volumes for the day.
This ascent to the 8th position solidifies WOOFi's standing as a fast-emerging competitor in the on-chain derivatives scene, now having close to 5% market share of all DeFi perps volumes.
"One of the factors to WOOFi's success is its flagship offering, WOOFi Pro, which has emerged as the preferred platform for traders seeking optimal venues to farm Orderly Network Merits. This success is propelled by WOOFi Pro's competitive fee structure, further enhanced by the ability to reduce fees through staking WOO tokens. Notably, several East Asia countries have emerged as the top countries for WOOFi Pro traders, reflecting the platform's growing influence in East Asia," said George Heath, Marketing Lead at WOOFi.
Since January 1st, WOOFi Pro has experienced remarkable growth across several key metrics. The platform's gross income surged from $28,000 to $2.66 million, a 95-fold increase. The average daily active users (DAU) over 28 days saw a 26-fold rise, escalating from 48 to 1,235. Cumulative user numbers expanded 12 times, reaching 67,000 from an initial 5,618. The cumulative trading volume increased 219-fold, from $114 million to $25 billion. The 28-day average trading volume went up from $3.1 million to $310 million, representing a 100-fold escalation
"Our most exciting features aren't even live yet, so we are still very far from seeing the true potential of what WOOFi Pro can achieve," Heath noted.
For more information, please visit WOOFi
Contact: media@woo.network
About WOOFi
WOOFi is a leading DEX with over $14B cumulative trading volume and 250k+ monthly active users. It supports 11 blockchains and boasts a diverse range of products that include earn vaults, simple swaps, cross-chain swaps, and perpetual futures. The native token of WOOFi is WOO and it can be staked to share 80% of all protocol fees.
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