WOO Ventures to airdrop 500,000 DODO to WOO X stakers

Until the end of 2021, WOO stakers on WOO X will enjoy an additional reward pool of 500K DODO, airdropped daily to their WOO X wallets. This initiative is part of how WOO Ventures is able to share rewards with WOO X stakers from identifying early-stage opportunities.

WOO Network
Sep 29 · 3 min read

One of the benefits of staking on WOO X is accessing token airdrops from investments by WOO Ventures. WOO Ventures spends extensive time scanning the industry for promising early-stage projects that can add value to WOO Network’s rapidly scaling ecosystem. One of the earliest projects WOO Ventures invested in was DODO, a decentralized exchange and liquidity protocol.

What is DODO?

In early 2021, DODO and WOO Network began collaborating using DODO’s PMM smart contracts and WOO Networks’ core strength of trading. Since then, these WOOFi pools have witnessed over $3.6 billion in volume on BSC, and $650 million on Polygon. This volume was traded with just a fraction of the TVL compared to other major DEXes, with the capital efficiency attributed to WOO Network’s on-chain liquidity.

How will the airdrop work?

To qualify for the daily airdrops simply:

  1. Sign up to WOO X or be an existing WOO X user
  2. Have WOO tokens staked on WOO X at the time of each random weekly snapshot (11 weekly snapshots total)

The airdrop will be distributed daily alongside your WOO staking rewards. The DODO tokens will be distributed proportionally to the amount of WOO staked by the user, compared to the total amount of WOO staked on WOO X, at the time of the weekly snapshot. Any changes in WOO staked on WOO X after this snapshot will not be taken into account until the next random weekly snapshot.

We are exploring alternative distribution methods for future WOO Ventures Airdrops, which may include rewarding using WOO holders across blockchains and being active in DeFi.

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The content above is neither a recommendation for investment and trading strategies nor does it constitute an offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.

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