Binance Labs Invests $12M in WOO Network
Binance’s venture capital arm Binance Labs has invested $12 million in WOO Network project as part of a Series A+ funding round.
WOO Network is a liquidity platform that connects users with exchanges, wallets, DeFi services and other projects. Its ecosystem includes WOO X Centralized Trading Platform, WOOFi Decentralized Exchange and WOO Trade Institutional Client Solution.
After launching WOOFi Swap service, WOO Network started providing liquidity to the Binance Smart Chain ecosystem last year. It uses institutional approaches to market making to improve pricing and reduce slippage.
It is worth mentioning that the platform also interacts with dYdX, Matcha, ParaSwap, 1inch, DODO and other projects.
WOO Network raised $30 million in November in a Series A funding round with the participation of Three Arrows Capital, Crypto.com Capital, Avalanche Foundation and other investors.
