Why WOOldn’t You #FOMOintoWOO?
To celebrate the launch of Woo X Beta, we had some fun with our Wootrade referral codes to attract new users to the platform.
At Fomocraft, we not only advise and market for top-tier crypto startups all around the world, we also oversee the management of the Fomocraft Ventures investment portfolio. And that, in no small part to our early investment into $WOO tokens, has ended up taking up more and more of our time. With our cost basis in the extremely low single digits, we thought what could we do to celebrate the soft launch of Woo X?
Our decision was to give away some USDT… and precious Woo Beta X referral codes!
So last week we held a referral giveaway for $WOO X Open Beta with one of our portcos, Wootrade. The rules were the following:
✅ Retweet & Tag 2 friends.
✅ Tell us why you love Wootrade.
✅ Follow @FOMOcraft, @KhunJoe5, @shanghaipreneur, and @wootraderS.
✅ Use hashtag #FOMOintoWOO.
We wanted this to be a fun little event that would encourage you guys to familiarize yourself with what we feel is one of the most important trends in the crypto space — the #CeDeFi trend. #CeDeFi is the intersection of DeFi and centralized custodians and other processes that streamline the whole crypto process for noobs.
CeDeFi is the Future
You may have heard of centralized finance (CeFi) or decentralized finance (DeFi), but what exactly is CeDeFi?
DeFi is a Web3 idea that users can become their own banks using decentralized protocols to swap and save digital assets. Good examples of DeFi projects, which exhibit varying degrees of decentralization, are Aave, Uniswap, Compound and Synthetix.
CeFi is a Web2 idea that derives from the fintech tradition of building platforms to provided access to novel digital asset strategies. The main difference is that user access is presented in a traditional login/password format and the burden of custody is placed on the platform.
These are, of course, extreme oversimplifications.
The combination of the two creates a user-friendly (so as to attract newcomers to crypto) and strategy-forward paradigm (usually involving advanced methods of liquidity management to generate yield for the users).
In other words, it’s the future of fintech. Or at least that’s what we believe at Fomocraft. And our portfolio reflects that. The meat of our selections addresses this exact issue.
We’ll dive more into our #CeDeFi thesis in another Medium post, but now, without further ado, let’s dive into our promotion winners!
Announcing the #FOMOintoWOO Winners
Woo X has been in private beta as we are for the $WOO X Open Beta! We thought it was a great opportunity to interact with you, reward you for your loyalty and preview our new product!
We had announced that ten community members could earn up to a $500 reward to share during this competition. However, after selecting the winners, we decided that only five participants truly earned their prizes. Two main reasons lead us to take this decision. Firstly, either the contest requirements were not respected or a bot account posted the reply and secondly the quality of the answers wasn’t good enough. For that reason, the $500 cash prize will be shared by the winners!
Without further ado, here is the list of the lucky winners (we loved your replies!):
@CryptoMalan highlights the $WOO community.
We agree, the Woo TG community is very active. Admins, like the handsome and very charismatic Ben Yorke, are super useful and knowledgeable too.
@Mohammad_Shala discusses the strength of the team.
Yep, transparency is key.
We recognized @CryptoSwager7’s response as one of the best. The Wootrade liquidity solution is top notch!
‘A one-stop solution to trading hassle’ — we like your swagger CryptoSwag!
The @weneer_eth account barely qualified. We liked their politeness!
Love the positive vibes, Weneer. :)
To finish it off, let’s look at the tweet from @PunsaraBalasoo1 that highlights perhaps the most important feature of the Woo X platform — Zero Fees!
We agree Punsara, it is a unique offering.
Congratulations to all of you! You deserve your prize ;)
Introducing the WOO X Open Beta
In case you haven’t yet heard of the feature product behind the fast-moving $WOO token, WOO X is a fee-less exchange for very active traders!
In traditional exchanges, traders have to pay fees to attract liquidity. WOOtrade has deep liquidity because it aggregates the orders from four top notch crypto exchanges — HOBF. That acronym stands for Huobi, Okex, Binance, FTX. So, basically, just for holding a smattering of $WOO tokens, you can trade the incredibly deep orderbooks of these top-notch exchanges FOR FREE and with the convenience of one login account.
For example, a trader that trades $1,000,000 in volume per day would save $183,500 in fees with the platform. Ten million-dollar traders would save $1,095,000 in fees!
The WOO X platform will enable traders to access complex features to execute their best strategies and keep everything they earn!
What is Wootrade?
Wootrade is the only platform to offer ZERO trading fees, DEEP liquidity, and a customizable GUI. The $WOO token unlocks access to zero-fee trading. $WOO can also be used to acquire exclusive benefits, investment opportunities, discounts and rebates on the Wootrade network.
How Did Fomocraft get FOMO’ed into WOO?
It all started back in 2018 when Nicholas Krapels, one of the principals at Fomocraft, met the Kronos Research team in Taipei at a conference. At that time, they introduced the KRON token that promised to bring the benefits of highly successful quant trading strategies to even the lowliest token holders. Having absolutely no ability to trade profitably himself but aware of the prowess of Kronos’ team to trade volume well, he was in.
But then the bear market hit. The KRON token evolved. The genesis for the Wootrade platform was fostered in the bear. When the bull finally awakened, Kronos felt the time was right to launch their baby dream into the marketplace. After discussions with the team, Fomocraft loved the project and admired the work done by the team. They saw visions of Thorchain in the vision to accumulate useful liquidity all in one place and so they helped the $WOO team to close out their pre-launch process. That’s how Fomocraft became early investors in WOOtrade. In fact, it was the very first investment the founding duo made together.
So far the returns have been very good (to say the least!). And we expect them to get even better as Woo X gets fully unleashed on the crypto community.
