WOO Network is a platform that provides decentralized finance (DeFi) and centralized finance (CEFI) exchange services within its deep liquidity protocol. The WOO Network is designed to enable users including investors, institutions, and high-volume traders to operate out of the public eye, which is known as dark pool trading.

It also utilizes blockchain technology to provide users access to deep market liquidity with zero trading fees and quicker trade execution. The WOO token is the native currency of the WOO network and this enables users the opportunity to swap, stake and trade the WOO token on the WOO network.

History of WOO Network

The WOO Network was founded by Kronos Research, a cryptocurrency high-frequency trading firm established in 2018. Jack Tan and Mark Pimentel, co-founders of Kronos Research also started WOO Network in 2019 to solve a key problem within the cryptocurrency exchange space; insufficient liquidity and high trading fees. This was primarily what the WOO Network was bound to solve.

Kronos Research launched WOO Network which operates across various products with deep liquidity and zero trading fees. It has since its launch accessed a series of funding with the most recent in January 2022 for $ 12 million.

The WOO Network Ecosystem

The blockchain network called WOO Network makes it possible to create decentralized applications (dApps) and smart contracts. The application, gateway, and core layers make up the key components of its three-layer architecture. Dapps are created and implemented at the application layer. Services like messaging, storage, and account management are offered by the gateway or middleware layer. Security and consensus are the responsibilities of the Core layer.

The following are some distinct features of the WOO Network Ecosystem:

• Large Institutional trade volume: Corporate investors use WOO’s cutting-edge order-matching engine to achieve the best rates for their trades.
• Narrow valuation margin: Traders are guaranteed to receive the best rates for their trades thanks to WOO’s substantial liquidity pool and sophisticated order-matching engine.
• Trading with zero fees: WOO Network does not impose any trading fees and gives rebates to users who increase the platform’s liquidity.
• Full-featured workplace: WOOFi, a fully customizable workspace module from WOO Network, enables traders to customize their trading operations to meet their unique demands.
• Sophisticated order options: Traders can obtain the best prices for their trades by using the advanced order types that WOO Network provides, such as iceberg orders.

In essence, WOO Network is a great option for institutional and professional traders seeking a big liquidity pool, narrow valuation margins, and zero-fee trading.

How Does WOO Network Work? Woo X and WooFi

To aggregate and consolidate liquidity using quantitative trading and arbitrage strategies, WOO Network collaborates with Kronos Research. A variety of top centralized and corporate trading platforms as well as DeFi networks like Ethereum, BNB Chain, Polygon, and Avalanche are used to aggregate liquidity. On WOO X and WOOFi, users have direct access to the network using the Application Programming Interface (API) or the Graphical User Interface (GUI).

WOO X

This is WOO network’s core centralized finance (CeFi) product. The first cryptocurrency exchange to implement Payment for Order Flow (PFOF), a reward scheme that compensates brokers for directing orders to other market participants for trade execution, and went live in August 2021. The PFOF model attempts to provide a more competitive payment system for market makers, while also offering a high level of accountability on trade execution.

The WOO X exchange creates its open liquidity pool through involvement from numerous market makers, notably Kronos Research, and aggregates market depth from other large exchanges to generate its deep liquidity.

Users of WOO X can add widgets, charts, and other individualized components to their trading screen to make it more unique. This allows more seasoned traders access to the data and resources they require. Additionally, TradingView offers sophisticated charting tools for building technical analysis indicators.

WOO Trade

For corporate users to execute transactions without instantly disclosing their strategy to the public, WOO network introduced Wootrade, a dark pool trading platform. Wootrade also seeks to provide larger traders, exchanges, wallets, OTC desks, and spreads that are tighter than normal.

WOOFi

A decentralized exchange (DEX) within the WOO Network called WOOFi Swap oversees transactions using a model of the synthetic Proactive Market Maker (sPMM) algorithm. This enables WOOFi Swap to function similarly to the order book paradigm used by the majority of CEXs while eliminating middlemen control. According to WOO Network, their framework was created to enable low swap costs for WOOFi Swap users while better simulating the pricing, spread, and depth of an order book on centralized exchanges.

What Is the WOO Token?

The WOO token, $WOO, which serves as the base for all WOO Network’s DeFi and CeFi products and services, is the native token of the WOO ecosystem. The maximum supply of the WOO token released is 3 billion tokens, and after monthly token burns, that number continuously declines such that half of the maximum supply has been consumed.

With the use of bridges like BNB Chain, Ethereum, Avalanche, Polygon, Solana, Arbitrum, Fantom, and NEAR, WOO token is a utility token that can be used on many blockchains. It is incorporated into several well-known decentralized exchanges 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. The following are the WOO token’s use cases:

• Staking: The WOO token can be staked to receive benefits from the many goods and services the WOO Network has to offer.
• Payment: All products and services provided by the WOO Network are paid for using the WOO token.
• Bridge: The WOO token acts as a link between various blockchains, enabling users to use the same token while benefiting from all of the best features of each blockchain.

Governance of the WOO Network

Owners of the WOO token can vote on important choices affecting the direction of the WOO Network. Making conclusions about which new products or services to create as well as how to distribute the network’s resources fall under this category.

Future governance features for the WOO token are expected to give token owners voting power over network development based on the quantity and length of time their tokens have been staked.

Tokenomics of the WOO Network

Woo Network has a merit-based system for allocating tokens. Through distributions from public sales, advisers, and ecosystem awards, WOO tokens have been committed to its ecosystem. The WOO Tokenomics can be summarized as follows:

• 50% Ecosystem (Rewards)
• 20% Team
• 20% Token Sale
• 5% Advisors
• 5% Liquidity Management

Benefits of the WOO Network

The WOO Network is a formidable marketing tool that can assist users in reaching a large number of potential clients. Users can grow a business network within the WOO network and cultivate ties with other organizations. Also, users can get leads and clients interested in their products or services from the WOO Network.

Likewise, users who wish to develop on the WOO network can do so because it is an open-source platform. Since the WOO network is built on the Ethereum blockchain, it supports all of Ethereum’s features, including smart contracts and decentralized applications (dapps).

Disadvantages of the WOO Network

• Stolen private wallet key - WOO Network users run the risk of the security bridge of their wallet key.
• Several users have complained that there is no real-time way to get in touch with support personnel on the WOO Network. This is an inconvenience if the issue is urgent.
• The WOO Network does not offer the feature for fiat withdrawal.

Risks Associated With Holding the WOO Token

• The volatility of the WOO token: Trading in cryptocurrencies carries significant risks, including the possibility of losing all of one’s initial investment. As a result, it may not be appropriate for all investors. The WOO token price can be greatly influenced by external variables like monetary, legal, or political developments.
• The WOO Network’s products’ regulations and the rules that apply to them may change.
• Because the WOO token is relatively new within the crypto space, any investor holding the WOO token should be a professional who should also carefully consider their investment goals and risk tolerance.

Is the WOO Token a Good Investment?

Investors who desire to lower their trading costs and gain access to discounts on the WOO X market may consider investing in the WOO token. Investing in WOO tokens provides liquidity to decentralized exchanges for those wishing to earn extra cryptocurrency incentives through yield farming.

Since WOO tokens may be used as collateral for lending and borrowing crypto assets, DeFi users might also find value in it. Likewise, those who want to take part in the future governance of the WOO Network may find the WOO token to be a good option.

The Woo Network creates a vast digital ecosystem by fusing several fantastic features. The platform’s minimal fees and adaptability are available to traders from all corners of the market. The overall value and utility of the token are further increased by the use of WOO throughout all of the exchanges.

Benefits of Holding the WOO Token

Investors can gain from the project by holding their WOO tokens in addition to benefiting from the future growth of WOO Network as an all-in-one platform, therefore traders may think about buying WOO. These rewards consist of the following:

• With just enough staked tokens, there are no trading fees, no withdrawal costs, and larger referral discounts.
• Staking WOO tokens lowers buyer fees to 0%, and all trades gain from 0% maker fees.
• Benefit from an increased institutional investor API trading rate cap.
• Stakeholders will receive WOO token airdrops.
• To provide liquidity, WOO offers awards and DEX farming.
• WOO tokens can be used as collateral for borrowing and lending.

How to Own WOO?

To own WOO, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy WOO.

News on WOO Network

WOO Network has started a real-time reporting of its assets and liabilities - the first in the cryptocurrency market in a proactive reaction to requests for openness amongst digital asset exchanges. The transparency dashboard for WOO Network, called WOO X, offers live data reporting that refreshes every 15 minutes. Also, it provides proof of assets on where tokens are stored, information on liabilities, and more transparency-related information.

WOO Network analyzed existing centralized exchanges (CEXs), notably WOO X, to check for the transparency features that users are searching for when developing the dashboard.

Useful References

For the latest updates about Woo Network, you can visit:

• The official website
• Twitter
• Telegram
• Discord
• GitHub

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