KINGSTOWN, Saint Vincent and the Grenadines, Oct. 07, 2024 (GLOBE NEWSWIRE) -- WOOFi, the omnichain decentralized exchange platform renowned for its swaps and earn vaults, is excited to announce the launch of the Avalanche BOOST Campaign, an initiative designed to reward WOOFi users with 10,000 sAVAX incentives over the next 12 weeks.
Starting on October 7, participants will have the chance to earn bonus sAVAX rewards through WOOFi Earn and the Cross-chain Carousel campaign, offering two ways to maximize their returns.
8,000 sAVAX to be Distributed Through WOOFi Earn
Out of the total incentive pool, 80% will be allocated via WOOFi Earn. Over 12 weeks, users can deposit assets in any of WOOFi's three Avalanche Earn vaults - AVAX, USDC, and BTC.b. Once funds are deposited, sAVAX rewards will start accruing in real-time, and users can claim their rewards at any time.
2,000 sAVAX to be Distributed via Cross-Chain Carousel
For those looking for more dynamic opportunities, extra sAVAX rewards will be available through WOOFi's Cross-chain Carousel campaign. Each week, a different Avalanche protocol will be spotlighted, giving participants the chance to cross-chain swap assets into the featured token of the week. Each week's pool will offer $5,000 in sAVAX, to be proportionately split based on the trading volume of participants.
"We are excited to collaborate with Avalanche to bring this BOOST campaign to WOOFi users. Avalanche's high-speed and low-cost blockchain, known for its scalability and eco-friendliness, aligns perfectly with our mission to provide a seamless and rewarding experience for our community. By participating in this program, our users will not only benefit from the robust earning opportunities on WOOFi but also get to explore Avalanche's innovative multi-chain ecosystem. This initiative truly reflects our commitment to delivering next-level opportunities in the DeFi space," said Ben Yorke, VP of the WOO Ecosystem.
"WOOFi joining the Boost program is a huge step toward a more inclusive DeFi ecosystem on Avalanche,” said Matthew Schmenk, Sr. BD Associate at Ava Labs. "By consolidating DeFi primitives within a single platform, WOOFi enhances liquidity and opens opportunities for a wider range of participants. This aligns with our vision for a decentralized and accessible financial future.”
How to Participate
To take part in the Avalanche BOOST campaign, users can:
1. WOOFi Earn: Deposit assets into any of the three Earn vaults (AVAX, USDC, or BTC.b) on Avalanche to start accruing sAVAX rewards. Rewards can be claimed at any time.
2. Cross-Chain Carousel: Cross-chain swap assets into the featured token of the week. The more volume traded, the higher the potential reward in sAVAX.
For more information, please visit WOOFi
Contact: media@woo.network
About WOOFi
WOOFi is a leading decentralized exchange (DEX) with over $42 billion in cumulative trading volume and more than 250,000 monthly active users. Supporting 11 blockchains, WOOFi offers a diverse range of products, including earn vaults, simple swaps, cross-chain swaps, and perpetual futures. The native token of WOOFi, $WOO, can be staked to share 80% of all protocol fees.
Disclaimer
The content above is for informational purposes only and does not constitute an investment offer, solicitation, or recommendation. Anyone who makes or changes their investment decision based on the content shall undertake the result or loss independently. Cryptocurrencies involve significant risk and may not be suitable for all investors. Please consult a qualified professional before making any investment or financial decisions related to cryptocurrencies.
The collaboration between WOOFi, Avalanche, AVA lab and its ecosystem does not indicate in any way that WOOFi provides or will provide financial services. WOOFi 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 any financial return, whether presently existing or to be generated in the future, on WOOFi or any associated platforms. The decision to airdrop any tokens is governed by and subject to a series of separate criteria and procedures, independent of this cooperation or business partnership.
This new offering is not an indication of guaranteed success or profitability for either WOOFi, Avalanche, or any of its business partners. All business risks related to the cooperation are borne by the respective parties involved.