Bytom X WOOTRADE | Improving Trading experience, liquidity management, user incentive mechanisms on MOV
WOOTRADE and Bytom today announced their strategic partnership, specifically on MOV protocol-a DeFi protocol created by Bytom. The two parties will cooperate to improve the on-chain trading experience, and will progressively collaborate in liquidity management and exploration of user incentive mechanisms. The partnership will also focus on global brand cooperation.
With WOOTRADE, MOV protocol can provide its customers with a greatly improved liquidity at a low to zero commission fee. This in turn will allow MOV to save operating costs.
By combining Wootrade’s trading expertise and liquidity advantage with MOV’s technological capabilities and user base, it will be able to develop innovative new user incentive mechanisms to improve the DeFi trading (Decentralized Finance) experience.
With the booming popularity in derivatives and DeFi, traditional and decentralized exchanges are focus on providing better liquidity for their customers. Improving liquidity will ultimately allow them to increase their user base and retention rate.
WOOTRADE is a digital asset liquidity pool incubated by quantitative hedge fund Kronos Research, which can provide its users with a transaction depth of 100 BTC with a spread of 0.2%. WOOTRADE’s current clients include traditional and decentralized exchanges and professional traders. WOOTRADE’s exchange clients reported a 3.5x increase in trading volume after gaining access to WOOTRADE’s liquidity.
About MOV and Bytom
MOV is a new Decentralized and interoperable DeFi Protocol. The MOV protocol is customized for cross-chain DeFi. The framework is composed of three modules: the magnetic contract (Magnet), open cross-chain gateway (open federation management framework (OFMF)), and high-speed side chain (Vapor). MOV has a series of built-in protocols, including open exchange protocols such as the magnetic exchange, reserve pool exchange, reserve pool lending and stable coins.
MOV protocol is custom-designed by Bytom. Bytom is a blockchain project that covers many technologies, including public blockchain, side chain, cross-chain, enterprise blockchain, blockchain data services and DeFi.