WOO Network is a deep liquidity network that enables retail, institutional and professional investors to execute large orders with the least slippage and at near-zero fees. WOO is the name and ticker symbol of WOO Network's native utility and governance token.
WOO Network's ecosystem consists of Wootrade, WOOFi, WOO X, and WOO Ventures. Wootrade is a base-layer liquidity solution that provides deep liquidity to institutional clients, such as exchanges, via WOO Network's API. With Wootrade, exchanges can match their order book depth with top exchanges without paying high commissions. Wootrade also offers full cross-margin, competitive interest rates and auto margin rebalancing.
WOOFi is a suite of open-source DeFi products deployed across multiple blockchains that has been audited by Certik and Verilog. A multi-chain decentralized exchange with high-quality trade execution, a DeFi yield optimizer with set-and-forget vaults, and a WOO staking pool are among them. WOOFi employs a novel market making algorithm known as Synthetic Proactive Marketing Marking (sPMM) to facilitate crypto swaps at lower fees than traditional DEXs.
WOO X is a zero-fee cryptocurrency trading platform for professional and regular traders that is supported in more than 100 countries and is regulatory compliant.
Finally, WOO Ventures, the investing division of WOO Network, gives WOO token owners 50% of all investment returns.
WOO Network has several use cases across their products. For example, WOO tokens can be used to vote on WOO Network governance proposals, earn staking yields and receive a portion of swap fees on WOOFi.
Staking WOO tokens on WOO X entitles stakers to a share of tokens from WOO Ventures investments. Moreover, WOO tokens also provide yield farming opportunities on prominent DEXs such as Bancor, SushiSwap, Uniswap, PancakeSwap, QuickSwap and SpookySwap.
WOO price and tokenomics
WOO has a hard-capped supply of 3 billion tokens. WOO network sold 10% of the tokens in their private and public sales. Likewise, 10% was allocated to investors, 20% to the Wootrade team and 5% to the advisors. These allocations have a linear vesting schedule of up to 3.5 years, which impacts WOO's price charts.
50% of the WOO supply was reserved to support the WOO project in activities like distributing ecosystem rewards (25%), providing insurance (10%), rewarding partners (10%) and investing in early-stage projects (5%). The remaining 5% was earmarked for liquidity management.
Every month, 50% of Wootrade's income is used to buy back WOO tokens to remove them from circulation. As of January 2021, 10,182,812 WOO tokens have been burned. Such periodic burns make WOO tokens deflationary, resulting in a positive impact on WOO's price.
About the founders
WOO Network was incubated by Kronos Research, a leading market maker with a $5-10 billion daily trading volume across global cryptocurrency exchanges.
The leadership team includes the co-founders of Kronos Research, Mark Pimentel (ex-Citadel) and Jack Tan (ex-Deutsche Bank). Pimentel worked in Citadel Investment Group's high-frequency trading unit, where he generated $892 million for the company in 2007.
WOO Network has 96 team members from top financial and education institutes, including Citadel, Deloitte, HSBC, MIT, CMU and Citibank, to name a few.
WOO Network has raised $52 million from investors like Fenbushi Capital, BitMart, Three Arrows Capital, AscendEX and ViaBTC Capital, among others.
