Wootrade Network (WOO) API and Price Oracle

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Wootrade Network

For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
Blockchain network where the asset is deployed
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
Volume 24h
Trades 24h
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Token information

What is Wootrade Network (WOO)?

Wootrade Network (WOO) is a decentralized liquidity network that aims to bridge traditional finance and digital assets. It allows users to access deep liquidity pools and trade across multiple platforms. The network was founded in 2020 by Taiwanese entrepreneur Jack Tan. Wootrade was derived from "Woot!" and "trade," representing the excitement of trading. Key facts include its focus on high-frequency trading, partnerships with major exchanges, and its native token, WOO.

How does Wootrade Network work?

Wootrade Network is a decentralized cryptocurrency trading platform that aims to provide efficient and secure trading services. The underlying technology behind Wootrade Network is built on a layer 2 protocol called Substrate, which is developed by Parity Technologies and is based on the Polkadot ecosystem.

Wootrade Network utilizes a blockchain oracle to provide accurate and reliable price data for trading and liquidity services. A blockchain oracle is an external information provider that supplies verified data from outside the blockchain to smart contracts.

The functioning of Wootrade Network is designed to offer high-speed, low-cost, and scalable trading services. The network uses a combination of on-chain and off-chain mechanisms to achieve this.

On the blockchain layer, Wootrade employs a network of validators who verify and validate transactions. These validators ensure the integrity of the network and maintain consensus among participants.

Off-chain, Wootrade integrates market-making strategies with advanced trading algorithms to provide liquidity and optimize trading outcomes. This enables users to execute trades at competitive prices and with minimal slippage.

Wootrade Network also uses its native token, WOO, to incentivize market participants and provide additional benefits such as access to exclusive features and potential fee discounts.

Overall, Wootrade Network leverages its underlying Substrate technology, blockchain oracles, and liquidity optimization mechanisms to offer a seamless and efficient trading experience for cryptocurrency traders.

What are the benefits of Wootrade Network?

Wootrade Network offers several benefits that differentiate it from its direct competitors. One key advantage of Wootrade Network is its robust liquidity and deep order book. This provides traders with access to competitive prices and reduces slippage when buying or selling assets. Additionally, the platform offers high trading volumes, allowing for large trades to be executed quickly and efficiently.

Another notable benefit of Wootrade Network is its advanced trading infrastructure. The platform employs cutting-edge technology to enable low-latency trading, ensuring fast and reliable order execution. This can be particularly advantageous for high-frequency traders and institutional investors who require fast and seamless trading experiences.

In terms of security, Wootrade Network stands out for its emphasis on protecting user funds. The platform employs industry-leading security measures, including multi-signature wallets and cold storage, to safeguard users' assets from potential attacks. This commitment to security helps to instill confidence in traders and investors who value the safety of their funds.

Compared to its direct competitors, Wootrade Network also offers a user-friendly interface and intuitive trading tools. The platform is designed to cater to both experienced traders and beginners, providing a seamless and enjoyable trading experience for all users.

It is important to note that the information provided in this answer is based on publicly available information and is subject to change. Traders and investors are encouraged to conduct their own research and consider multiple factors before making any decisions.

What is Wootrade Network used for?

Wootrade Network is a decentralized trading platform that aims to provide a seamless and efficient trading experience for both retail and institutional traders in the crypto market. It offers various services and features that cater to different user needs.

One common use case of Wootrade Network is for liquidity provision. Liquidity providers can deposit their assets on the platform, enabling them to be utilized for trading purposes. By doing so, they contribute to the overall liquidity of the network and can earn rewards in return. This benefits both the liquidity providers in terms of generating passive income and the traders by ensuring ample liquidity for trading.

Another important use case of Wootrade Network is for professional traders and institutional investors. The platform provides advanced trading tools and features such as order types, leverage options, and derivatives trading. This allows experienced traders to execute complex trading strategies and manage risk effectively.

To elaborate on a specific case, a large institutional investor can utilize Wootrade Network for executing large trading orders without significantly impacting the market. The platform's deep liquidity and low slippage ensure that the investor can buy or sell a substantial amount of assets without causing excessive price fluctuations. This is particularly beneficial for institutional investors who need to execute large trades while minimizing market impact and achieving the best possible execution price.

Overall, Wootrade Network serves as a comprehensive trading platform that caters to the needs of various types of traders, from retail investors to institutional players, providing them with enhanced liquidity and advanced trading tools.

What is DIA's Wootrade Network API?

DIA's Wootrade Network API is part of DIA's comprehensive suite of APIs and oracles designed to provide real-time price feeds for various assets in the blockchain ecosystem. DIA's price feeds are constructed using raw data obtained from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges, ensuring accuracy and reliability.

While DIA does offer free API endpoints for developers to test, the true power lies in the customizability and flexibility of their custom feeds. These custom feeds can be tailored according to specific requirements, such as the choice of data sources, methodologies, and update mechanisms. To request a custom feed, users can get in touch with DIA via Discord or Telegram.

The price information provided by DIA's APIs has numerous use cases across the blockchain ecosystem. In the realm of DeFi, the data can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoin creation, synthetic asset issuance, and money markets, among others. For NFTfi applications, the API can enable peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

It's worth noting that DIA's API endpoints are made public purely for informational purposes. Developers can access the free price feed API endpoint for any asset on the asset's detail page in the DIA App. However, the true value lies in the ability to create tailor-made API feeds, designed to meet specific requirements and preferences.

Overall, DIA's Wootrade Network API offers developers and users a powerful tool to access accurate and customizable price feeds, enabling a wide range of applications within the blockchain ecosystem.

What is DIA's Wootrade Network price oracle?

DIA's Wootrade Network price oracle is a smart contract that provides real-time price feeds of cryptocurrencies. DIA stands out because it can deploy price oracles in more than 35 layer 1 and layer 2 networks, making it one of the most versatile options in the market. These price feeds are constructed by aggregating raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, ensuring accurate and reliable information.

While DIA offers (free) demo oracles for developers to test, these are solely for testing purposes and cannot be integrated into production applications. However, users can request custom configurations for dedicated price feed oracles. These custom oracles can be tailored based on sources, methodologies, update mechanisms, and more. To request a custom feed, users can reach out to DIA via Discord or Telegram.

DIA's custom oracles offer significant flexibility and utility for users as they can be customized to specific needs. They can be utilized in various ways within the blockchain ecosystem, such as derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and even NFT-related applications like peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and fractionalization.

In the blockchain space, an oracle is an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles play a crucial role in connecting blockchains with real-world data to enable the execution of smart contracts based on that data.

To summarize, DIA's Wootrade Network price oracles offer real-time price feeds from a wide range of layer 1 and layer 2 networks. While DIA provides demo oracles for testing, its strength lies in the ability to create custom configurations tailored to individual needs. These custom oracles have applications in various aspects of DeFi and NFTfi, making them a valuable tool for users in the blockchain ecosystem.

Why use DIA's WOO API & price oracle?

DIA's WOO API and WOO Price Oracle offer a range of benefits for users in the blockchain ecosystem. One key advantage of leveraging DIA's technology is the high level of customizability available. With DIA's API and Price Oracle, users can tailor each oracle and API endpoint to suit the specific needs of their decentralized applications. This includes configuring data sources, applying data cleaning filters, determining pricing methodologies, and setting update mechanisms and frequency. By customizing these parameters, users can ensure the robustness and resilience of their data and oracles, even in unique market conditions.

Transparency is another major benefit of using DIA's API and Oracle feeds. The platform provides full and granular transparency throughout the entire data journey. Users can track and monitor the progress of their oracle and API feeds using DIA's various tracking and monitoring tools. This transparency helps build trust and confidence in the accuracy and reliability of the data provided.

In conclusion, by using DIA's WOO API and WOO Price Oracle, users can access accurate and reliable price data for cryptocurrencies and NFTs. The customizability options allow for tailored solutions that remain robust and resilient in different market conditions. The transparency provided by DIA's platform instills trust and confidence and ensures the integrity of the data and oracle feeds.

Why use DIA data feeds and oracles?

DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.