Copyright © 2021 by Verilog. All rights reserved. October 17, 2021 by Verilog Audit This report presents our engineering engagement with Wootrade on their first DeFi protocol WOOFI Swap. Unlike popular Automated Market Making (AMM) or Proactive Market Making (PMM), WOOFI Swap’s Sythethetic Proactive Market Making (sPMM) is a brand new market making algorithm that can successfully solve the slippage issue in Decentralized Exchange (DEX) by simulating market making processes in Centralized Exchange (CEX). Table of Content [TOC]