What is WOO Network?
Cryptocurrencies have been developing rapidly for the last ten years. The global crypto market has surpassed the one trillion dollar mark as an investment. With its adoption, cryptocurrencies face many difficulties nowadays. From choosing the best crypto platforms to adequate liquidity, there are many challenges in the crypto industry.
WOO network was created by Kronos research in June 2019. Kronos research is a leading multi strategy trading firm that works on machine modules to estimate market conditions. The Kronos network now has a 5-10 billion dollar daily trading volume. So, the idea behind the creation WOO network is to deal with Liquidity challenges by providing deep Liquidity pools.
Best in Class Liquidity Platform
WOO Network is a deep liquidity platform where centralized finance meets decentralized finance. It allows institutions, exchanges, and platforms to access best-in-class liquidity. Due to deep liquidity pools, users can enjoy smooth transactions.
In WOO Network Ecosystem, a lot of utilities are present. So, it offers a wide range of utilities to its users. It is connecting traders from both CEX and DEX platforms. So, users pay almost zero trading fees for trading execution. Additionally, it provides best-in-class liquidity to enhance the user experience.
Overall, this article will cover the WOO network’s complete ecosystem, its team, and WOO token.
The Team Behind WOO Network
Kronos Research is a leading trading platform that works on computer models. The idea behind WOO network creation was to allow enough liquidity for trades. Kronos is a multi-strategy firm specializing in arbitrage, high-frequency trading, and market-making.
In 2018, Kronos had just two members named Mark Pimentel and Jack Tan. So, these co-founders turned this platform into a quantitate powerhouse. It now has more than a hundred employees working in twelve cities. Mark was named among the top 25 influential people in Taiwan’s blockchain industry.
Expertise and experience for this platform come from top educational institutions. So, a list of these institutions is shown in the picture below.
WOO Network Defined
WOO network is a combined effort of engineers, technologists, traders, and entrepreneurs. These people belong to experienced wealth sectors and bring innovation to the system. WOO network has its own CEX and DEX trading platforms.
Kronos offers trading and research facilities to the next level. It allows world-class researchers to use advanced machine learning for trading. Researchers can utilize the AI model’s data to capitalize on the best opportunities.
These techniques are helpful to identify profitable sentiments in the market. The whole operational system is in-house built. So, it is designed to operate very quickly and with high accuracy. Hence, extensive operations run to control risk regarding trading errors.
What Makes WOO Network Unique?
Other than exchanges, WOO networks offers a list of products to various professional and institutional traders in the cryptocurrency currency market. Additionally, it provides access to deep liquidity pools for trading institutions and exchanges at a lower or almost zero cost.
Deep Liquidity Network
Via the WOOtrade platform, WOO network collaborates with other exchanges to provide a deeper liquidity network. It helps these exchanges to tighten the spread of their order book. So, many big exchanges like Kucoin, Gate.io, and MEXC are working with the WOO network to use the liquidity pools at a meager cost.
WOO Network Product Offers
1. WOO X
WOO X comes among the top five exchanges in terms of a highly liquid platform. It is the first platform in the trading market that offers zero-fee trading. WOO X has fully customizable workspaces. So, users can change the interface as they want. Resultantly, it provides a better experience for the traders. Some benefits of WOO X are given below:
WOOX offers its users to buy and sell assets with zero fees. Therefore, users can enjoy zero fees by staking the required amount of WOO X tokens on the WOO X platform. Hence, it’s one of the most liquid platforms. Other than platforms with higher fees, it allows big traders to make transactions without the fear of cost.
WOOX is the only platform that allows customizing the interface. When you open the platform, there are three options. Users can select the customize option and then modify the interface. This feature attracts many investors. A trader can buy and sell assets by using their favorite customized interface on the WOO X.
Large Liquidity Pools
WOO X has one of the highest liquidity protocols. High liquidity allows the transactions to run smoothly. Traders can buy and sell their assets at any cost. Hence, they don’t have to wait for their order to be filled.
Overall, on the WOO X platform, users enjoy a high quality of trading. The transaction runs smoothly and speedily due to the availability of market makers and takers.
WOOFI is a decentralized exchange (DEX) platform in WOO network. It offers the best possible prices for swaps. WOOFI tries to reduce slippage and offers a low fee. Hence, this expands the WOO network to decentralize finance and provide more safety. WOOFI uses a synthetic proactive market-making model to access real-time prices.
Therefore, make sure to read the acknowledgment before using WOOFI. Some benefits of WOOFi are as follows:
WOOFi platform allows its users to bridge their assets from different platforms. It allows multichain bridges from Ethereum, Binance smart chain, Polygon, and Fantom. Additionally, users can connect and import their wallets on the WOOFI platform. So, they don’t have to create a new one.
WOOFI is a decentralized platform. Therefore, traders can deposit LP tokens from other decentralized exchanges to begin farming. And, users can stake in their assets to get higher annual percentage yields. Additionally, they can get a high compound on their LP tokens. Users can get zero fees trading after staking their assets.
Users can swap between different token pairs on WOOFI. The benefit of WOOFI is its interface like centralized exchanges. It allows users to buy and sell assets using an order book. It’s better than other DEX like Uniswap, where the order book is unavailable. And its algorithm scans order book prices from CEX like Binance and analyzes a suitable trade price.
3. WOO Ventures
WOO Ventures works as an investment arm of WOO ecosystem. It seeks to form strategic organizations with projects and new ecosystems. Half of the returns from all funds are circulating back to WOO token holders. Now, let’s look at some important points of the WOO ventures.
WOO ventures work to make new partnerships. The 50% of revenue from this platform is used for native token holders. Users get this amount in the form of airdrop tokens. The first airdrop was the DODO airdrop that began on October 15th, 2021. Ventures may discover alternative dissemination methods other than airdrops to grow on a bigger scale.
WOO Ventures distributes funds using token swaps for this purpose, and the project’s native token is swapped with WOO tokens. In the beginning, ventures were seeded with 150 million WOO tokens. It enables the development of several long-term partnerships.
In WOO Venture, investments are usually organized with corresponding lock-ups and vesting timetables. The vesting and lock-up method follows strictly. The complete vesting duration is usually two to three years. So, this method brings into line both parties and helps form long-term partnerships.
WOO Network Token Details
WOO Network native token was launched in 2020 with a total supply of three billion. 10% tokens were allocated for private and public sales. Additionally, 20% of tokens are allocated to the core team. Finally, for advisors, there was a share of 5 % tokens.
WOO Token has a buyback system and a burning mechanism. Scheduled burning is happening to reduce the tokens from circulating.
How Many WOO Tokens Are There in Circulation?
From a total supply of three billion, there are 986,620,653 WOO coins in the circulating supply. As per the roadmap timeline, the team will add new coins to the circulation.
Hence, scheduled burning ensures price stability due to the high amount. Other than that, there’s a buyback mechanism in WOO network. A fixed percentage of the revenue is used to buy back WOO tokens. Hence, it helps to stabilize the price.
WOO Token Use Case
By staking WOO token, users can get many benefits from the network. It includes zero fees, airdrops, and high compound rates. Some of the use cases for WOO tokens are as below:
1. Governance – By holding more than 1800 WOO tokens on WOOFI or WOOX, users can participate in decentralized governance. They can participate in the voting of WOO DAO.
2. Zero fees – By staking WOO, traders can get low to zero trading fees on WOOX.
3. Distributing yield – Investors can also stake their WOO on WOOFI. As a result, they can earn yields from the fees.
4. Yield farming – Use your WOO tokens to enter liquidity pools and farms on other DEX like Uniswap.
5. Lending and borrowing -Users can use their WOO as security to get loans.
6. Future Social trading – In the coming days, WOO stakers will be able to learn highly expert trading tactics from top-performing brokers.
Benefits of Holding WOO Tokens
WOO network is an all-in-one platform. Due to its ecosystem, traders can enjoy all efficient transactions for both CEX and DEX. WOO token has a bright future due to the involvement of wealthy partners. Hence, there are a lot of benefits of holding WOO tokens. These include:
- Zero trading fees
- Free withdrawals and referral rebates
- 0% maker fees by staking WOO tokens
- Increased API swapping rate limit for influential investors.
- WOO token airdrops to be distributed to the WOO stakers.
- Rewards for liquidity providing and yield farming across DEXs.
There are also plans that will award WOO token holders discounts for management services.
Are WOO Tokens a Good Investment?
WOO Token was launched in 2021. Initially, they offered ten percent in private and public sales. If we look at the partnerships of WOO Networks, we will find a vast list.
With time, WOO network is advancing smoothly. It was launched at 0.004$ price. And now it’s trading above o.6$. So, with its buyback and burning mechanism, it is an excellent future investment for sure.
How and Where to Buy WOO Tokens?
Presently, WOO network is available to buy on many exchanges and the top exchange is Binance. Other CEX exchanges include Gae.io, Kucoin, ByBit Kraken, Lbank, MEXC, and many more. It is also available on DEX like Uni swap and Sushi swap. To trade it on DEX, you need to bridge your wallet with WOO network.
If you want to buy it on Binance, you can buy it directly using your Debit or Credit card. Otherwise, you can first purchase stable coins like USDT. Then you can purchase WOO with it. Users can also buy and sell WOO on their own WOO exchange platforms.
WOO Token utility is expanding over time. WOO network has focused on its partnership growth with other clients. It is seeking advice from professional institutions and working with industry giants like Binance.
WOO Network is a suitable option if you want centralized exchange security. Additionally, it’s a good choice if you want access to private tokens on the exchanges institutions and Defi protocol.
Overall, this project is one of the rare options available in the market. It’s one of its kind where users can enjoy both DEX and CEX platforms in the same place.