Crypto Exchange Woo X Partners with Wintermute as Liquidity Provider
Crypto exchange platform Woo X has formed a partnership with Wintermute, a leading crypto market maker and liquidity provider. Wintermute will serve as the designated liquidity provider for the exchange, further enhancing its trading capabilities.
Proactive Efforts to Onboard Top-Tier Liquidity Providers
This collaboration between Woo X and Wintermute is part of a proactive strategy to attract high-quality liquidity providers. Wintermute, based in London and Singapore, is one of several market makers working with the crypto platform.
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!
In addition to Wintermute, Woo X also receives support from other liquidity providers such as Selini Capital and Black Code Group. Selini Capital, for example, consistently contributes a significant portion of maker volume on Perpetual Protocol.
“It’s a strong signal to professional traders that we are serious about making WOO X an essential venue for trading.”
“The v2 is already processing over $100 million in daily volume, placing it at rank eight on DefiLlama for all DEXs. Being able to add additional LPs [liquidity providers] of the caliber of Wintermute could be a source of even better pricing for the exchange.”
Woo X is actively working towards onboarding more industry-leading market makers and implementing competitive market maker incentives to reduce reliance on any single liquidity provider. This approach marks a departure from its initial launch in 2019 when it relied on a single market maker model. Currently, designated market makers provide liquidity for the majority of futures volumes.
Hot Take: Woo X Strengthens Market Position through Partnership with Wintermute
The partnership between Woo X and Wintermute serves as a testament to Woo X’s commitment to becoming a prominent trading venue. By collaborating with Wintermute, a renowned liquidity provider, Woo X aims to enhance its trading services and offer better pricing to its users. This strategic move positions Woo X as a reliable and competitive crypto exchange platform in the market.
