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WOO launches innovation hub


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As part of efforts to drive the growth of Bitcoin ecosystem, popular cryptocurrency ecosystem, WOO has launched an innovation hub. In a Tuesday blog post, WOO shared details about the newly unveiled hub. With this initiative, WOO will award grants to expand the reach and potential of its token across emerging crypto sectors, including AI and Bitcoin Layer-2 solutions, thereby advancing the next-generation of decentralized projects.

Don’t forget that WOO is the parent company of WOOFi protocol, a leading DEX protocol with over $13 billion cumulative trading volume and over 300 thousand monthly users. Aside that, the ecosystem also owns a global crypto centralized exchange, WOO X . The main focus of the WOO ecosystem is to provide innovation and tools to users while creating more utility for its native token.

The protocol, in its blog post, further, affirmed its dedication to ensuring an increase in the number of its aligned products in the coming weeks. To achieve that, the ecosystem has already implemented a more decentralized approach to ecosystem building and governance.

WOO unveils innovation hub during Token2049 week in Dubai

Meanwhile, WOO first announced the launch of this innovation hub at the Token2049 week in Dubai. During the annual conference, the vice president of WOO, Ben Yorke also mentioned the kinds of projects that will be eligible for the grant. They include teams working on Real world assets(RWA), Decentralized Finance (DeFi), Artificial Intelligence (AI), Bitcoin Layer-2 solutions, and Decentralized Physical Infrastructure Networks (DePIN).

The Vice President further that the expansion of the innovation hub is a testament of the ecosystem commitment to identifying and incubating potential projects that support the WOO token. He further stated that some of the resources offered by the ecosystem also create powerful flywheel effect for WOO. According to him, they include access to liquidity, market makers, users and partners.

Going further, Yorke clarified that the aim of the grant is not to take over the ownership of any project but to support potential startups by providing expertise and valuable industry connections. Also, with the initiative, the project aims to foster the growth and success of the projects while ensuring that users gain access to innovative tools and global opportunities.

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Dare Ibitoye
Dare Ibitoye
Over the years, Dare has been a committed reporter in the field of cryptocurrencies. He is also interested in researching about the innovative projects within the blockchain space. During his spare time, Dare loves to listen to music and read about technological trends in the contemporary world

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