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Before interacting with our protocol, please make sure to review all relevant documentation to make sure you understand how it works.
Wooy has an informative website as well as an application, which provides access to the protocol. However, both products simply provide an interface and do not control the protocol directly in any way.
Protocol Dependency Risk
Wooy interacts with several other protocols (such as AAVE, Compound, Maker and CurveI) in order to generate yield over our users deposits. Wooy also constantly interacts with different blockchains (mainly Ethereum and Polygon networks). Therefore, there is always a risk that these other integrated protocols and blockchains may fail. This is naturally outside of Wooy’s control.
To mitigate this risk, we make sure that Wooy is only integrated with highly reputable and well secured protocols which are audited by the most important audit firms in the industry.
Smart Contract Exploit Risk
As with any other Ethereum-based product, there is always the chance of a bug or exploit occurring in the smart contracts that run our protocol. Depending on what the issues is, a nefarious person may be able to intercept some or all of the funds that go from the Wooy protocol to DeFi protocols and viceversa.
Last modified 1yr ago