OpenTrade is thrilled to announce WOO X’s RWA Earn Vault upgrade, now leveraging OpenTrade’s product deployment on Avalanche.

WOO X, a leading centralised trading platform, currently offers users real world asset-backed yield products with daily interest accruals and instant redemptions, powered by OpenTrade’s technology platform, robust bankruptcy remote legal framework, and off-chain infrastructure.

As traditional finance increasingly enters the crypto space, our upgraded RWA flexible term vault on Avalanche is a significant advancement for WOO X. By offering opportunities backed by real-world assets like tokenised Treasury Bills, we position ourselves at the forefront of a trillion-dollar market projected by 2030. — Willy Chuang, COO of WOO X

By deploying the RWA Earn Vaults on the Avalanche network, WOO X is able to enhance liquidity and lower transaction costs in response to the growing retail demand for predictable and secure yield solutions.

WOO X and OpenTrade’s initiative underscores Avalanche’s dedication to revolutionising digital finance. This development empowers users to access innovative financial products and services, taking advantage of the efficiencies and reduced costs enabled by our blockchain technology. — Eric Kang, BD Manager at Avalanche

The upgraded RWA flexible term vault on Avalanche exemplifies how OpenTrade enables companies like WOO X to offer seamless access to low-risk yields backed by U.S. Treasury Bills, enhancing liquidity and showcasing the utility of RWA solutions in the evolving digital finance landscape. — David Sutter, CEO of OpenTrade

To support the launch, WOO X has announced a rewards campaign for Avalanche RWA Earn Vaults, set to go live October 21, 2024. The rewards campaign will enable WOO X users to access significantly higher returns on USDC without the volatility of crypto-based strategies and with considerably less risk.

Rewards will be offered in phases to users across all tiers for a limited period of time, ending January 19, 2025:

To learn more about the campaign, click here.

About OpenTrade

OpenTrade is an institutional-grade platform for on-chain and real world asset-backed lending and stablecoin yield products. Backed by investors including a16z Crypto and Circle, the OpenTrade platform has been built to allow any company to power their own stablecoin yield products for their users, who can trust in OpenTrade’s enterprise-grade technology systems, and the security guarantees of our time-tested legal protections and bank-grade asset management operations. Learn more at https://www.opentrade.io/.

About WOO X

WOO X is a global centralised 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 WOO X’s 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 Avalanche

Avalanche is a high-performance blockchain platform designed for builders who need to scale. Engineered with a revolutionary three-part Layer 1 (L1) architecture, Avalanche is anchored by its Avalanche Consensus Mechanism, ensuring near-instant finality for transactions. The platform also features an open-source Layer 0 (L0) framework, enabling the seamless creation of interoperable Layer 1 blockchain with high throughput on both public and private networks.

Supported by a global community of developers and validators, Avalanche offers a fast, low-cost environment for building the next generation of decentralised applications (dApps). With its unique blend of speed, flexibility, and scalability, Avalanche is the preferred choice for innovators pushing the boundaries of blockchain technology.