WOO Innovation Hub Partners with Yei Finance to Elevate Blockchain Lending and Borrowing
July 05 2024 - 8:00PM
WOO, an ecosystem of aligned products, including the WOOFi protocol
and WOO X, a top global crypto centralized exchange, is pleased to
announce a new strategic partnership with Yei Finance, the largest
money market on the Sei network. This collaboration under the WOO
Innovation Hub aims to advance blockchain lending and borrowing
solutions, enhancing user experience and capital efficiency.
The partnership between the WOO Innovation Hub
and Yei Finance seeks to leverage each other’s strengths to drive
innovation in blockchain financial services. This mutually
beneficial collaboration will enrich the WOO Innovation Hub's
ecosystem, incorporating Yei Finance’s advanced protocols and
dynamic systems.
Abby Huang, WOO Innovation Hub Lead,
stated: "We are excited to welcome Yei Finance to the WOO
Innovation Hub. Yei Finance's growth and commitment to improving
blockchain efficiency align well with our objectives. We believe
this partnership will contribute to developing more user-friendly
financial solutions. WOO will be working closely with Yei Finance
on key market penetrations, bringing innovative products and
exclusive incentives to both Yei and WOO users."
Yei Finance has quickly established itself on
the Sei network, achieving significant growth shortly after its
launch. Built on robust foundational elements, Yei Finance offers
essential features catering to developers' and traders' use cases.
Yei's mission focuses on expanding asset support and ensuring
depositor security while its innovative platform facilitates highly
customizable operations.
Yei Finance's offerings include a reward system
that incentivizes users for various activities, enhancing platform
engagement and loyalty. Yei ensures robust asset protection through
stringent security measures, with future developments promising
additional advanced features.
Contact
us: ecosystem@woo.network
About WOOFi
WOOFi is a leading DEX with over $42B cumulative
trading volume and 250k+ monthly active users. It supports 11
blockchains and boasts a diverse range of products that include
earn vaults, simple swaps, cross-chain swaps, and perpetual
futures. The native token of WOOFi is WOO and it can be staked to
share 80% of all protocol fees.
About Yei FinanceYei, the largest money market
on Sei v2, reached $45M in TVL within four weeks of its launch on
June 5th. This growth is driven by attractive SEI rewards for
lenders. Built on Aave v3's codebase, Yei v1 prioritizes asset
security and capital efficiency on the Sei network. Yei v2 will
introduce innovative features that enable users to independently
create multiple pools with highly customizable logic, including
tailored interest rate models, loan-to-value (LTV) ratios, and
types of collateral.
DisclaimerThe content above is neither a
recommendation for investment and trading strategies nor does it
constitute an investment 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.
WOO X does NOT endorse, guarantee or provide advice for any
products or services of its business partners. This cooperation
shall in no event be interpreted as an assurance or guarantee for
the listing of any tokens, whether presently existing or to be
generated in the future, on WOO X or any associated exchange
platforms, nor does it imply any commitment from WOO X to list any
tokens on its platforms or others. The decision to list any tokens
is governed by and subject to a series of separate criteria and
procedures, independent of this cooperation or business
partnership.
This cooperation is not an indication of guaranteed success or
profitability for either WOOFi, WOO X or any of its business
partners. All business risks related to the cooperation are borne
by the respective parties involved.