Wootrade, a Taiwan-based liquidity supplier platform and crypto asset trade aimed toward establishments, has concluded a $10 million personal funding spherical led by Dragonfly Capital. 

Buyers within the spherical embrace crypto notables together with Haskey Capital, Three Arrows Capital, and DeFi Capital’s enterprise wing. The newly raised funds might be used to develop the Wootrade staff, and to help the launch of future merchandise.

The platform is at the moment in closed beta, the place roughly one dozen establishments and early traders are already driving seven-figure spot volumes for crypto property on behalf of their 65,000 shoppers.

Wootrade expects to totally launch inside six to 9 months, and claims its liquidity will surpass that of prime exchanges together with Binance.

Wootrade will quickly launch futures buying and selling and a local governance token ‘WOO’. The platform is at the moment exploring distributing the token to its customers based mostly on retroactive exercise.

Chatting with Cointelegraph, Wootrade founder Jack Tan acknowledged that Uniswap-style airdrop mannequin is interesting as a result of token issuers can “reward the individuals who ought to actually have our tokens.”

“When you’re going to be a person of the platform, we undoubtedly need you to have our token.”