Binance has made a strategic investment of 12 million dollars in liquidity platform WOO Network.
The venture capital arm of leading crypto-asset trading platform Binance has made a $12 million strategic investment in WOO Network, a liquidity platform that connects users to exchanges, institutions and decentralized finance (DeFi) networks. Peter Huo, Investment Director of Binance Labs, made the following statements in his press release on the subject:
The platform also started providing liquidity to Binance Smart Chain last year, following the WOOFi Swap it launched to improve pricing and reduce slippage. Other DeFi protocols where Woo provides liquidity include some leading projects such as DYDX, Matcha, ParaSwap, 1inch and DODO.
The platform was launched last November by Three Arrows Capital, Crypto, the leading players in the crypto ecosystem. com Capital had received $30 million in investments from names such as Avalanche and BitTorrent.