WOO X and OpenTrade Enhance RWA Earn Vaults with Flexible Withdrawals
2024年7月22日 - 6:00PM
WOO X, a leading centralized crypto futures and spot trading
platform, is excited to announce the launch of its upgraded
Real-World Assets (RWA) Earn Vaults with the introduction of
Flexible Vaults. This innovative enhancement comes in partnership
with OpenTrade and further aligns with the ongoing shift towards
digital finance.
Building on the success of the initial
RWA-backed Earn Vaults launched in April, which enabled users to
earn yield from real-world financial assets like U.S. Treasury
Bills over 7 and 28-day terms, WOO X has since upgraded the RWA
Earn Vault to allow users to accrue interest daily and move USDC in
and out of the product with no term.
"In comparison to traditional financial products
like no-penalty certificates of deposit and flexible funds, WOO X’s
Flexible Vaults offer superior benefits in terms of liquidity,"
said Willy Chuang, COO of WOO X. "Traditional
no-penalty certificates of deposit allow for penalty-free
withdrawals but often come with lower interest rates and limited
terms. Similarly, flexible funds provide broad investment
flexibility but may not match the liquidity advantages of our
Flexible Vaults. Our Flexible Vaults address these gaps by offering
faster liquidity, allowing investors to redeem their investments
instantly without any penalties or loss of accrued yield, and
providing competitive APR rates that are aligned with our initial
RWA vaults."
While these Flexible Vaults offer improved
features, the yields remain entirely backed by OpenTrade’s U.S.
Treasury Bill-backed yield product, which allows us to provide
these enhancements while still ensuring stable and predictable
returns for our users.
Key Features of the Flexible
Vaults:
- No terms and daily interest
accrual: Investors can now earn and redeem interest daily, without
the previous 7 and 30-day term requirements.
- Instant Redemption on USDC
investment and accrued interest.
- No Penalties: Early redemptions do
not incur penalties or loss of accrued yield.
- Daily Compounding: Accrued yield is
automatically reinvested as principal, allowing for daily
compounding.
"The introduction of Flexible Vaults is a
game-changer for our users, providing them with unmatched
flexibility," Chuang added. "We are committed to leveraging
blockchain technology to transform traditional financial markets
and provide sustainable investment products. Furthermore, we plan
to continue to innovate and build upon the infrastructure of the
RWA vaults to further enhance our users' experience on WOO X. This
includes exploring new offerings that could provide even more ways
for our users to maximize their investments and benefit from the
evolving digital finance landscape."
OpenTrade continues to support WOO X with its
platform designed for seamless integration of RWA-backed yield
products. The platform's bank-grade off-chain operations and robust
legal structure are pivotal in enabling WOO X to offer these
innovative investment opportunities and maintain high standards of
security and compliance. OpenTrade has seen significant adoption of
its white label RWA-backed USDC/EURC yield products among their
clients around the globe, particularly in regions like South
America, where Neobanks and exchanges have leveraged OpenTrade to
meet their a high demand for dollar savings and low-risk wealth
generation options and limited access to no access to this within
the traditional banking sector.
"Flexible Vaults represent the next step in the
evolution of RWA solutions, providing real utility value for users
who now have an ‘always on’ outlet for generating stable yield on
their USDC with the ability to move in and out with the click of a
button," said Jeff Handler, Co-founder of
OpenTrade. "We are proud to support WOO X in bringing this
groundbreaking product to market and are excited by the global
adoption we are witnessing. Users in countries that struggle to
access dollars or safe yields on dollars, especially in South
America, are finding financial empowerment through these solutions.
This product is helping people around the world gain access to
stable and secure investment opportunities previously unavailable
to them, thus enhancing financial inclusion and stability."
To learn more about WOO X, download our app or visit WOO X
Contact us: media@woo.network
About WOO X
WOO X is a global centralized crypto futures and
spot trading platform offering the best-in-class liquidity and
price execution. WOO X has an average daily volume exceeding $600
million and is home to hundreds of thousands of traders worldwide.
WOO X traders benefit from radical transparency through our
industry-first live Proof of Reserves & liabilities dashboard
and the company's mission to maintain the trust of its growing
community of professional traders.
About OpenTradeOpenTrade is an institutional
grade platform for real world asset backed lending and USDC yield
products. The OpenTrade platform provides FinTechs with a white
label solution that allows them to power USDC and EURC yield
products for their users, who can with the click of a button, and
the security guarantee of a bankruptcy remote, time-tested legal
framework.
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