WOOFi enhances DeFi with low slippage, 0.025% swap fees, and deep liquidity via its sPMM model. Governed by the WOO DAO, users stake 1800 WOO tokens for voting rights on proposals. WOO tokens, with a 3 billion total supply, offer trading benefits, staking yields, and governance. Launched by WOO Network, WOOFi has backing from market leaders and venture capital, supporting its growth and development in the decentralized finance space.
Value Proposition:
WOOFi aims to enhance the DeFi experience by offering reduced slippage and competitive swap fees of 0.025%, deep liquidity through its synthetic proactive market making (sPMM) model, and cross-chain swaps across multiple networks
Governance:
The governance process of WOOFi revolves around the WOO DAO. Users who stake 1800 WOO tokens can vote on proposals within the DAO. The community generates ideas and proposals, which need a majority vote with quorum criteria to pass. Some governance aspects are still managed by WOO Network to prevent malicious actions. The project is exploring progressive decentralization, balancing token-based voting with merit-based governance.
Tokenomics:
The native token, WOO, has a total supply capped at 3 billion tokens. Distribution includes 62% to liquidity providers, 30% to shareholders (team and investors), and 5% to the community reserve. WOO tokens provide trading benefits, earning opportunities, staking yield, and governance rights. On-chain staking of WOO mints xWOO, representing a share of the staking pool. Protocol revenue is used to buy back and burn WOO tokens monthly.
Previous Funding:
WOOFi DEX was launched by WOO Network, with initial funding and resources likely provided by the network. The project has backing from leading market makers like Kronos Research, AGBuild, and Ledger Prime. Series A investors indicate venture capital funding.
