- WOO plans innovation hub enlargement to bolster Bitcoin’s ecosystem
- The brand new initiative will deal with tasks bringing Bitcoin Layer-2s, RWA, DeFi, AI and DePIN to the Bitcoin ecosystem.
WOO has introduced plans aimed toward utilizing its innovation hub and the WOO token to energy the subsequent development chapter for the Bitcoin (BTC) ecosystem.
WOO, which incorporates a prime CEX platform WOO X and prime DEX platform WOOFi, revealed its newest initiative at Token2049 week in Dubai.
What are WOO’s plans to bolster BTC ecosystem?
In line with a not too long ago printed announcement, WOO’s Europe-based innovation heart might be expanded to faucet into the native WOO token’s potential in driving the brand new period of decentralized tasks on Bitcoin.
We’re excited to broaden our innovation hub to vastly enhance the variety of WOO-aligned merchandise within the coming months.
Anticipate better alignment with high-potential tasks underneath verticals akin to RWA, AI, DePIN, and the rising BTC ecosystem: https://t.co/pIPc8sURJQ
— WOO (@WOO_ecosystem) April 16, 2024
WOO’s strategic plans will initially goal new development verticals akin to synthetic intelligence (AI), Bitcoin L2s, Actual World Property (RWA), Decentralized Bodily Infrastructure Networks (DePIN) and DeFi throughout the BTC ecosystem.
The venture’s objective is to ramp up WOO-aligned merchandise throughout these verticals, with growth centered on leveraging the WOO token. Initiatives will obtain grants amongst different assist, to work on these aims, Ben Yorke, VP of Ecosystem, stated in an announcement.
“Our ecosystem can present assets, akin to entry to liquidity, market makers, customers, and companions, which can create a robust flywheel impact as extra high-quality builders change into aligned with WOO,” Yorke famous.
Initiatives or groups that be part of the WOO Innovation hub might be chosen on the premise of their dedication to AI, RWA, DeFi, and BTC L2 innovation. The factors will even embody their capability and skill to combine the WOO token, Yorke added.
The Bitcoin ecosystem has attracted a variety of developer consideration in latest months, with progressive tasks seeking to faucet into the highest blockchain community’s safety and traction. Specialists have additionally opined that the burgeoning BTC L2 ecosystem might be an enormous market in coming years.
In addition to the highlighted sectors, there’s gaming and NFTs, the latter seeing nice developments because the launch of Bitcoin Ordinals.