VICTORIA, Seychelles, April 10, 2024 (GLOBE NEWSWIRE) -- WOO X, a global crypto futures and spot trading platform offering best-in-class liquidity and transparency, is pleased to announce the launch of three Index Perpetual Contracts - the GMCI 30, GMCI L2, and GMCI Memes - in partnership with Wintermute and GMCI.
WOO X became the first centralized crypto exchange to launch L2 and Memes indices, this initiative marks a significant step forward in offering traders innovative trading solutions. GMCI L2 index monitors leading Layer 2 blockchain technologies, highlighting their pivotal role in enhancing scalability and efficiency across primary blockchain platforms. Meanwhile, the GMCI Meme index highlights top meme coins based on market capitalization, reflecting crypto culture and community engagement.
Moreover, the addition of the GMCI 30 Index on WOO X offers an efficient method for hedging, granting users diversified market exposure and reducing the specific volatility tied to individual crypto assets. GMCI 30 Index covers the top 30 crypto assets including ETH, BTC, SOL, and BNB, offering a panoramic view of the market’s major players and setting a benchmark for quality and performance in the digital asset world.
Willy Chuang, COO of WOO X, highlighted the importance of this launch, stating, "Introducing these Index Perpetual Contracts is not just about offering new trading instruments; it's about enriching the trading ecosystem with diversified, strategic products for our users. Our collaboration with Wintermute and GMCI is a testament to our dedication to pushing the boundaries of what's possible in the crypto market."
Wintermute's role as the liquidity provider for the GMCI 30 Index Perpetual Contracts is pivotal in ensuring the reliability and stability of market access. By leveraging their extensive expertise in algorithmic and high-frequency trading, Wintermute guarantees deep liquidity, facilitating seamless experiences for all traders.
Evgeny Gaevoy, CEO of Wintermute said: "We have been working closely with the GMCI team to bring a suite of index products to the crypto asset market. We have long believed these products have been sorely missed in crypto, as they are widely adopted across equities markets globally. We’re excited to partner with WOO X to provide deep liquidity for the GMCI index perpetual contracts and look forward to helping to launch more innovative indices in partnership with GMCI and WOO X."
Maarten Botman, CEO of GMCI said: "We’re excited to see WOO X launching the first Index Perp Contracts on three of our indices, marking a groundbreaking moment for GMCI, WOO X, and the digital assets industry at large. This collaboration underscores our commitment to innovation, offering investors enhanced access and robust investment opportunities in the ever-evolving digital landscape."
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About WOO X
WOO X is a global centralized crypto futures and spot trading platform offering the best-in-class liquidity and price execution. WOO X has an average daily volume exceeding $600 million and is home to hundreds of thousands of traders worldwide. WOO X traders benefit from radical transparency through our industry-first live Proof of Reserves & liabilities dashboard and the company's mission to maintain the trust of its growing community of traders.
About Wintermute
Wintermute is a leading global algorithmic trading firm and one of the largest players in digital asset markets. With billions in average daily trading volume, Wintermute offers OTC trading and provides liquidity across 60+ centralized and decentralized exchanges. Wintermute is an active player in the ecosystem, invests in early-stage Web3 projects, and supports traditional financial institutions moving into crypto.
About GMCI
GMCI is an index provider incorporated in the Netherlands, as a Joint Venture between Wintermute and The Block (theblock.co), and is building unique indices with a tested methodology. GMCI indices will be designed and managed by experts from both industry-leading crypto-native and TradFi institutions. GMCI’s flagship index is the GMCI 30.
Disclaimer
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