Decentralized Crypto Exchange WOOFi Uses Gaming Style NFTs to Boost DeFi
WOOFi, a decentralized cryptocurrency exchange, is incorporating elements from role-playing games into decentralized finance using non-fungible tokens (NFTs) to increase yields for customers staking tokens on the platform. These "Boosters" can be obtained by performing tasks such as cross-chain swaps, depositing into earn vaults, or trading on WOOFi Pro, and are used to enhance the yield from WOO tokens, which are staked to earn a share of the DEX's fees. The WOO ecosystem is targeting an audience familiar with gaming and exploring the use of utility NFTs. The release of WOOFi Boosters is linked to value accrual generated by actions on the protocol. Over the past year, approximately $5 million in USDC has been distributed to those staking on the protocol, with these new boosters determining future revenue share distribution.
