In the dynamic world of decentralized finance (DeFi), strategic partnerships are pivotal for innovation and growth. Among these collaborations, the alliance between WOOFi and 1inch Network stands out as a testament to the power of synergy in the blockchain space. Since December 2021, WOOFi, a multi-chain DEX renowned for its synthetic proactive market making (sPMM) model, has joined forces with 1inch, a leader in DEX aggregation. This partnership has not only enhanced the DeFi trading experience by offering competitive prices and deep liquidity but has also marked significant milestones, including over 200,000 cross-chain swaps. As we delve deeper into this collaboration, it's clear that both WOOFi and 1inch have set a new standard for what partnerships in the DeFi ecosystem can achieve.
In this series, we explore the fruitful alliances 1inch has forged with various projects, shining a light on the mutual benefits derived from these collaborations. WOOFi, a pioneering multi-chain DEX leveraging the synthetic proactive market making (sPMM) model, has been in partnership with the 1inch Network since December 2021. This collaboration has been a resounding success for both entities, setting a benchmark in the DeFi sector.
By mirroring the liquidity of WOO Network's centralized exchange, WOO X, WOOFi stands out by offering DeFi traders highly competitive prices with minimal Total Value Locked (TVL). This unique proposition is further bolstered by WOOFi's execution of over 200,000 cross-chain swaps, utilizing the cutting-edge Stargate technology. Today, WOOFi ranks among the top 5 most utilized DeFi protocols, as per Dappradar's analytics.
For over a year, WOOFi has served as a crucial liquidity provider for 1inch, significantly enhancing the trading experience for 1inch users by offering deeper liquidity and more advantageous swap rates. This symbiotic relationship has not only benefited 1inch but has also propelled WOOFi's growth and market presence.
Kevin Feng, the Head of DeFi at WOO Network, expressed his enthusiasm about the partnership, stating, "When people think of an aggregator, 1inch immediately comes to mind." He further elaborated on the value of this collaboration, highlighting how it has granted wider access to the CeFi-grade pricing of their sPMM v2 liquidity. "1inch's order flow has been instrumental in achieving several of WOOFi's key milestones, most notably surpassing $4B in total trading volume," Feng added. He expressed gratitude for the partnership's role in WOOFi's growth and looked forward to its continued contribution as WOOFi expands to new chains, supports more assets, and strives to offer the ultimate DeFi trading experience.
Stay tuned as we continue to unveil more about 1inch's partnerships, showcasing how strategic collaborations in the blockchain and DeFi sectors are paving the way for innovation, growth, and the democratization of finance. Through these alliances, 1inch not only cements its position as a leading DEX aggregator but also fosters a more interconnected and efficient DeFi ecosystem.
