In another reputable announcement, we are pleased to share with BTSE users that a strategic partnership has been built with Wootrade. Created by Kronos Research, one of the leading quantitative trading firms, Wootrade is a trading platform designed to give an edge to liquidity and spreads compared to the majority of exchanges without fees.
Wootrade Partnership
Founded in 2019, Wootrade was created with the vision of offering a top-of-the-line trading platform experience by making liquidity as optimal as possible. Last year, Wootrade created an API to help connect exchanges and other trading platforms to their system. They operate in the form of a “trading infrastructure” which is otherwise known as an Alternative Trading System (ATS).
Wootrade aggregates liquidity and offers sufficient trading depth for B2B clients with zero fees. Wootrade helps exchanges, professional traders, and institutions gain the greatest competitive advantage in the cryptocurrency retail market. In January of 2021, over $1.1 billion of institutional trading volume was conducted on the network.
Founded in 2018 and powered by a custom-built from-the-ground-up matching engine, BTSE brings institutional-grade trading technology to the world of cryptocurrency. The platform acts as a bridge between the existing financial system and the digital money of tomorrow. BTSE is capable of handling over a million order requests per second and stores 99.9% of customer funds in cold storage. Built by traders for traders, BTSE Exchange offers a suite of financial services that extend the capabilities of digital assets including asset management, exchange, OTC, lending, a debit card, white labeling, and DeFi products.
Benefits of Wootrade and BTSE
BTSE will take advantage of Wootrade’s liquidity pool to tighten spreads and give better execution prices for users. Additionally, to give Wootrade’s native token (WOO) more exposure, BTSE will add it to its spot trading list.
The Wootrade Network is designed to handle crypto liquidity regardless of the size of the trade. As Wootrade provides a gateway to its network of liquidity, exchanges can automate backend-related operations such as internal market making. In short, clients can have a custodian for their liquidity, allowing the exchange to focus primarily on end-user enhancement such as security, new features, and community building, without the need to maintain internal order books and market makers..
Wootrade is able to accomplish high-quality liquidity through a number of factors:
- Liquidity Flow Providers (LFP): this provides the places where assets are drawn from that can provide liquidity. This is like drawing water from a water source. Examples of LFPs are commonly exchanged but also include wallets and trading systems. The importance of LFPs is to execute prices at the most reasonable rate.
- Market Makers (MMs): these help match a buyer with a seller. While LFPs try to exchange for the most appropriate deal, MMs just want to strike a deal in order for buys and sells to be generated – thus providing liquidity.
- Zealous Rhino Staking program: Trading institutions, high-frequency traders (HFTs), and professional traders can connect directly to the network, bringing high volumes with reduced fees, provided they stake significant quantities of WOO tokens.
All of these ensure that a user gets the quote for trade as close to market value as possible.
BTSE is happy to be part of this integration.
As a result of this, BTSE will be joining the Wootrade Network which allows BTSE to take advantage of this liquidity system and staking. BTSE in return will be able to offer better market pricing.
Summary
BTSE and Wootrade together will be able to provide a better system for liquidity that benefits crypto as a whole. Using the Wootrade Network allows BTSE to connect to LFPs and MMs which can create better market prices that will benefit BTSE users. The WOO token will be made available on the BTSE platform, ensuring our users can also take advantage of Wootrade directly in addition to their work behind the scenes.
We are genuinely excited to have this strategic partnership with Wootrade and to always give our users the best experience possible.
Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at feedback@btse.com or on Twitter @BTSE_Official.
Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.
