HONG KONG, April 12, 2023/PRNewswire/ — WOOFi, one of the top 15 DEXs by 24-hour trading volume and one of the top 30 most widely used protocols in all of DeFi, takes center stage at the Web3 Festival of Hong Kong and talks about the bullish prospects for Ethereum-based Layer 2 networks as a result of the Shanghai upgrade and growing interest from investors.
Kevin Feng, Head of DeFi at WOO Network, participated in the LiquidityTech Protocol (LTP) Summit to discuss the topic “Is the future of finance decentralized?”, where he was joined by representatives from Nomura Laser Digital, Foresight Ventures, MetaWeb Ventures, Bitget, and Bluefin.
Featuring a list of industry leaders, major trading institutions, digital currency asset banks, exchanges, custodians, investment banks and regulators, the summit will address cutting-edge trends and visions for the future of the field of digital assets, from the perspective of institutional traders. For its part, the Hong Kong Web3 Festival, which is expected to attract more than 10,000 participants, will cover other topics in the Web3 space, such as blockchain, the metaverse, NFTs and fintech.
“The Shanghai upgrade will be one of the drivers [of the DeFi and Layer 2 projects]. Several high-profile projects will be launched in the coming months, such as Base, zkSync Era, Polygon zkEVM, Scroll and Linea. This will attract the attention and the capital of the users.
Bullish sentiment is also tied to growing interest in the sector due to its open source nature, rapid innovation, and relentless growth. We are also excited about the level of interest from investors in the region and are pleased that WOOFi is at the intersection of these developments,” Feng said in a statement.
Ahead of the official opening of the Hong Kong Web 3 Festival, Hong Kong Finance Secretary Paul Chan has already said that while cryptocurrency markets have been highly volatile, the time is now “right” to drive Web3 adoption. in the region.
For his part, Feng said that it has only been nine months since WOOFi became the first DEX to deploy one-click cross-chain exchanges, thanks to cutting-edge Stargate technology. He added that the DEX has monitored more than 100,000 cross-chain transactions, grown to support six chains, and saved traders countless hours that would otherwise have been wasted in the painstaking process of manually bridging.
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