We are back with exciting updates to the Okto app that will enhance your user experience and provide more DeFi opportunities. In this week’s updates, the users will benefit from Okto’s partnership with WooFi to expand DeFi earning opportunities.

Okto offers simple and easy Staking services where you can earn passive income by locking your tokens via the Okto app. Okto has extended earning opportunities for its users by integrating with WooFi.

What is WooFi?

WooFi is a decentralized app that allows you to earn crypto rewards using its hassle-free earning opportunities. It offers "set-and-forget" yield-generating strategies, where you can simply deposit into a vault and let the automated strategies generate returns for you.

What is Vault?

WooFi uses automated strategies to generate yields for its users. Users deposit their cryptos into a vault available on different blockchains such as BSC, Avalanche, and Fantom. The rewards generated due to these vault strategies end up getting reinvested into the vault, generating higher returns.

Benefits of WooFi integration to Okto Users

Ease of Access

The benefits of WooFi will now be available within the Okto app. It will make it easier for users to access all earning opportunities from a single app.

Low Fees

WooFi charges the lowest fees across DeFi yield apps, making it a lucrative choice for users. This allows users to maximize their returns without losing a major chunk of their returns in fees.

Automated Compounding

WooFi vaults have automated the process of compounding the interests which are earned through staking and reinvesting them at an optimal frequency. This provides even higher returns to users.

Starting with BNB, WooFi’s integration will provide access to many new earning opportunities for Okto users. They can invest in these tokens directly and start earning returns up to 18% APY.

And, the best part about the above earning opportunities? They do not have a lock-in period, meaning users can withdraw their tokens any time they wish.

Learn more about 'How to Stake Tokens' and get started with your DeFi journey right away!

So, update the Okto app now and take control of your funds while exploring more DeFi opportunities.