WOO Network, a crypto exchange liquidity ecosystem, announced today that its exchange WOO X has rolled out the initial launch of WOO futures, including 20 popular crypto-assets, with more being added.
The futures are in the form of perpetual swaps (perps) which are contracts that never expire, making them ideal for the 24/7 world of cryptocurrency.
Benefits of futures on WOO X
Effortless – Traders can access charts and order-entry modules for spot and perps all from WOO X’s customizable interface. Cross-margin collateral means that any eligible asset can be used as collateral, giving fewer traders restrictions when trading with leverage. For risk management, traders can use Vaults and Subaccount features to isolate assets from being used as collateral.
Free – A 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. Staking for zero fees is the same, regardless of whether you trade spot or futures
Size – 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.
Secure – 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.
WOO X’s iOS and Android apps have also been updated to include perps.
“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.”
– The WOO Network Team