WOO Network (WOO) Introduction

What is WOO Network (WOO)?

Kronos Research established WOO Network, a deep liquidity network for traders, exchanges, institutions, and DeFi platforms. The network's infrastructure uses blockchain technology to give traders, exchanges, institutions, and DeFi platforms access to more market liquidity and quicker trading execution at free or very low cost. It makes best-in-class liquidity, trading execution, and yield-generating tactics that are far less expensive than others or even free. Their services include Wootrade, a liquidity pool for institutional clients, DeFi-related products such as WOOFi and WOO DEX, and WOO Network's centralized exchange (CEX) WOO X.

- The WOO Network offers both centralized and decentralized exchanges as a part of its liquidity network.

- WOO X offers low-cost trading, customizable workspaces, and deep liquidity (the CEX).

- WOOFi utilizes a Synthetic Proactive Market Making approach to bridge CeFi pricing into DeFi and provide best price execution for on-chain users as well as institutional yield opportunities.

- WOO DEX built on top of Orderly Network leverages the superior speed and throughput of NEAR to provide traders with best-in-class liquidity, advanced trading tools, a fully visible orderbook and a customisable UI.

Users of the trading platform can trade, earn and stake WOO, the project's native token. WOO may be purchased on Bitget with a credit or debit card, or it can be exchanged for other cryptocurrencies.

How does WOO Network work?

Institutional clients can update their order books to a depth that is comparable with top exchanges and reduce their bid-ask spread by using WOO Network (WOO). It is a zero-fee or even negative-fee trading platform that offers the best-in-class liquidity and execution to institutional and professional traders. One of the most popular options for active traders is WOO X because of its fully adjustable workspace modules.

Additionally, market makers from other platforms, such as dYdX, may use WOO Network as a venue. The zero-fee idea and appealing taker order conditions enable low-cost hedging. Due to the exponential growth of well-known platforms like dYdX, volumes have been steadily rising, and by the middle of September 2021, the 24-hour trading volume had topped $2.5 billion.

What are the key features of the WOO Network?

For institutional and professional traders seeking a big liquidity pool, narrow bid-ask spreads, and fee-free or fee-negative trading, WOO Network is the best option.

The following are some distinctive qualities that set WOO Network apart:

1. Depth of the institutional order book: Institutional clients use WOO's cutting-edge order matching engine to achieve the best rates for their trades.

2. Narrow bid-ask spreads: Traders are guaranteed to receive the best rates for their trades thanks to WOO's substantial liquidity pool and sophisticated order matching engine.

3. Trading with zero or even negative fees: WOO Network doesn't impose any trading fees to users who stake 1800 WOO and gives rebates to users who stake 25,000 WOO or more on WOO X..

4. A workstation with complete customization: WOO X, a fully customizable workspace module from WOO Network, enables traders to customize their trading experiences to meet their unique demands.

5. More complex order kinds: Iceberg orders are one of the sophisticated order types available on WOO Network, which enables traders to obtain the best prices for their trades.

What are WOO X and WOOFi?

The main offering of Centralized Finance (CeFi) trade services by WOO Network is WOO X. The exchange offers deep liquidity, flexible workspaces, and minimal trading fees. WOO X is a potent tool for traders looking to profit from the expanding CeFi sector. WOO X is the ideal platform for individuals trying to get the most out of their CeFi trading because of its minimal costs and high liquidity. Furthermore, the fact that it lets traders customize their workspace helps them to adjust their experience to suit their particular requirements. WOO X is the ideal platform for your CeFi trading needs, regardless of whether you're a seasoned veteran or just getting started.

Source: WOO X

WOOFi is a decentralized exchange featuring best price execution, lowest swap fee, cross-chain swaps and single-sided staking. WOOFi leverages its unique sPMM liquidity to bridge CeFi pricing into DeFi, enabling on-chain users to trade in size, at CEX rates, all while keeping complete custody of their assets.

Swapping: Users can swap popular blue-chip assets from BNB Chain, Polygon, Avalanche and Fantom with a super low 0.025% fee. In addition, by integrating with Stargate Finance and Layerzero’s underlying technology, any WOOFi user can now seamlessly swap assets cross-chain with guaranteed execution in as little as 30 seconds.

Earning: WOOFi provides a hassle and headache-free DeFi earning experience by sourcing the most competitive APYs for assets across the multi-chain ecosystem and listing them in one easy-to-access location. WOOFi also features exclusive Supercharger vaults which allow any user to deposit single-sided assets, earn alongside professional market makers, and reap rewards with no impermanent loss.

Staking: WOOFi is the best place for users looking to get more from their WOO, by allowing anyone to stake the WOO token across four separate networks and earn competitive APYs in the process.

WOO token Introduction

The WOO token, which serves as the foundation for all DeFi and CeFi products and services, is the native token of the WOO Network. The maximum quantity is 3 billion tokens, and after monthly token burns, that number continuously declines until half of the maximum supply has been consumed. Future governance utilities for the WOO token are expected to give token holders voting rights over the network's evolution, depending on how much and how long they have staked their tokens.

WOO token is a utility token that can be used on many blockchains with the use of bridges like BNB Chain, Ethereum, Avalanche, Polygon, Solana, Arbitrum, Fantom, and NEAR. It is incorporated into several well-known DEXes on different chains, including Bancor, SushiSwap, Uniswap, PancakeSwap, QuickSwap, and SpookySwap.

The WOO token is a crucial component of the WOO Network ecosystem and is required for anyone wishing to utilize the network's extensive offering of goods and services. Among its principal use cases are:

- Governance: Owners of the WOO token can vote on important choices affecting the direction of the WOO Network. Making judgments about which new goods and services to create as well as how to distribute the network's resources fall under this category.

- Staking: The WOO token can be staked to receive benefits from the many goods and services the WOO Network has to offer.

- Payment: All goods and services provided by the WOO Network are paid for using the WOO token.

- Bridge: The WOO token acts as a link across various blockchains, enabling users to utilize the same token while benefiting from all of the greatest aspects of each blockchain.

WOO Tokenomics

WOO token has a cap set at 3,000,000,000 tokens;

- 38.64% of tokens are circulating

- 28.26% of tokens are ecosystem tokens for mining/ staking rewards;

- 1.05% of the tokens are allocated to seed investors;

- 10.04% is set aside for a vesting wallet

- 7.53% is for unallocated team, advisors and equity investors;

- 10.07% is reserved as an insurance fund.

- 4.97% is to be used by WOO Ventures

The full breakdown of the WOO’s tokenomics can be found here.

Staking WOO Tokens

The WOOFi "stake" page allows community members to stake their WOO tokens in exchange for a yield from WOOFi’s super low 0.025% swap fee. In return for staking WOO in the WOOFi staking contract, users receive xWOO as the LP token. xWOO tokens can be used to redeem the staked WOO after the unstaking time.

Source: WOOFi

How can I buy WOO tokens on Bitget?

You can purchase WOO on Bitget by trading or exchanging it with other cryptocurrencies on Bitget platform: Trade WOO Token now!

Disclaimer: This article is for educational purposes only and is not intended as investment advice. Qualified professionals should be consulted prior to making financial decisions.

Why This Crypto Bear Market is DifferentCrypto is Going Mainstream: Learn How to Launch it in Your Own Product
    No data