Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.
Taking a cue from role-playing games, yield generation Boosters can be acquired by performing challenges such as cross-chain swaps, depositing into earn vaults or trading on WOOFi Pro.
The GameFi sector used inflationary emissions of a native token to generate earnings, whereas WOOFi distributes revenue based on a share of fees on the platform.
The world of DeFi, a hotbed of innovation several years ago, could probably use some fresh ideas. The WOO ecosystem, which is also known for pushing things like index-linkedhave been working along similar lines. But prior experimentation within the sector was largely by inflationary emissions of some native token or other, whereas “the WOOFi Boosters release is tied to value accrual generated by actions on the protocol,” said Ben Yorke, VP of WOO Ecosystem.
“Over the last year, we've distributed around $5 million in USDC to people who are staking on our protocol,” Yorke said in an interview. “These new boosters will dictate how much of this future revenue share is distributed, so it's actually tied to some real value.”in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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