Zero-fee perps — the future of futures
WOO X takes its next major step for empowering individuals with the addition of perpetual swaps — even available with zero fees.
Perpetual swaps are one of the most commonly traded derivative products in crypto, with volumes vastly exceeding spot volumes on most major exchanges. Perpetual swaps, or perps, are futures contracts that never expire, making them ideal for the 24/7 world of cryptocurrency.
However, traders are still plagued by high fees, complicated rules, and fragmented liquidity as they try to avoid scam wicks and mass liquidations. So how did WOO X manage to build a product that improves the perps model and delivers more value to traders?
Bringing the WOO innovation
WOO Network never settles for just copying what’s already on the market. All of our products are designed with traders in mind, built in intelligent and novel ways that greatly reduce the friction in your trading experience. Let’s take a look at how we accomplished this with futures on WOO X:
A seamless trading experience between spot and perps: First and foremost, we want traders to have access to all their active positions at one time in one place. Traders can access charts and order-entry modules for spot and perps all from the same window, a hallmark of WOO X’s customizable interface. Cross-margin collateral means that any eligible asset can be used as collateral, giving traders fewer restrictions when trading with leverage. For risk management, traders can use Vaults and Subaccount features to isolate assets from being used as collateral.
The initial launch of WOO futures will include 20 mainstream assets, with more being added over time.
Of course, it wouldn’t be WOO X without the zero-fee trading experience. WOO X Futures will use the same staking tiers and fee structure as spot trading, meaning that users who stake 1800 WOO will be entitled to zero maker and taker fees when manually trading perps. The one exception is that Trade-2-Earn rebates aren’t eligible on perps trading, although this may be changed in the future.
Trade with size
WOO Network established its reputation as a source of deep, aggregated liquidity. Unlike spot markets, perps can’t be aggregated easily, as each source will have unique parameters, such as funding rates. WOO Network tackled this by integrating various sources into a liquidity pool that can be accessed directly from WOO X or as a liquidity source for institutional clients such as exchanges.
Early perps markets were plagued by inefficiencies that led to a trader’s worst nightmare — liquidations. WOO Network understands that for traders to become long-term users, they need to be able to protect and grow their assets. To solve this, WOO Network built an intelligent liquidation engine that takes multiple steps to reduce users’ exposure when a trade goes wrong. Closing pending orders and liquidating in small portions means that users are less likely to find all their collateral has been sold to cover losses.
Sounds too good to be true? Try it for yourself!
Zero-fee futures is no longer a pipe dream — simply stake 1800 WOO on WOO X and lock in zero-fee trading for life. Whether you’re a low time frame scalper, a high time frame investor, or anything in between, you’ll never have to worry about out-trading the trading fees, or falling victim to slippage. Easily manage your risk with our all-in-one spot and futures experience, so you can hedge your bets without micromanaging a flurry of tabs and accounts. Paired with an improved smart liquidation engine, WOO X is bringing its ‘keep more of what you earn’ ethos to perpetual swaps.
*Due to regulatory and compliance constraints, futures will be unavailable in Germany at the current stage. WOO X is continuously working to offer services in more regions.
Stay tuned for all WOO Network’s exciting developments!
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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.