Bitcoin, one of the firstborn and powerful cryptocurrencies furthered the craze for digital assets and blockchain technology. Following the concept, several digital assets and trading platforms were introduced to the crypto universe, making investment and trading effortless. One such platform, offering spot and futures trading is WOO Network. It is a system of Centralized Finance (CeFi) and Decentralized Finance (DeFi) products developed to enable deeper liquidity for crypto market participants.
Why is the network unique in the crypto universe and how does it work? Let’s uncover the products and workings of the WOO Network in depth.
What is WOO Network?
The network was originally introduced by Kronos Research co-founders in October 2020, with around 3 Billion WOO Tokens generated at Genesis. Kronos Research is a large quantitative trading company that operates in high-frequency trading, market making, and arbitrage.
WOO network is a crypto trading platform, offering users with low fees and deep liquidity for digital asset trading. The network connects traders, institutions, exchanges, and DeFi platforms with democratized access to high-class liquidity and trading services at lower costs. WOO is the native token of the network used for staking and fee discounts in the DeFi and CeFi products. Customizable services, powerful trading tools, and support for future and spot trading boomed the value of the ultimate crypto trading platform.
One of the main purposes behind the network foundation is to mitigate market inefficiencies and disrupt crypto markets by resolving key cryptocurrency challenges mainly linked to liquidity fragmentation. Another motive is to standardize liquidity through market maker Kronos Research and internalize order flows.
WOO Network Products and Working
The WOO network crypto ecosystem is based on the Ethereum (ETH) blockchain and the WOO token is an Ethereum-based ERC-20 token. In addition to this, the platform is designed to facilitate high-performance, low-cost, and secure solutions for users and Decentralized Applications (DApps).
Proof of Authority with Verifiable Randomness (PoA VR) is the consensus mechanism used in the WOO network development. PoA mechanism offers an energy-efficient solution for generating private blockchains, emerging as an ideal option in terms of energy usage and security. Also, PoA processes transactions quicker than other available mechanisms including Proof-of-Work (PoW) and Proof-of-Stake (PoS). VR, on the other hand, is a cryptographic function that accepts a series of inputs, computes them, and generates random outputs that can be verified by anyone. Both the mechanisms combined turned the WOO network into a leader in the crypto trading world.
Addressing the products, CeFi and DeFi products enable deep liquidity for the cryptocurrency market. The network is positioned in the DeFi space using its brand WOOFi, aiming to offer DeFi protocols with a private liquidity pool. WOOFi is a staking platform and decentralized exchange (DEX) providing swaps and yield-generating pools on Avalanche and BNB chains. WOO X is the network’s CeFi flagship product, providing professional and institutional traders with execution and liquidity.
In addition, WOO network’s most of services revolve around utility tokens, offering users to reduce offset trading fees and API trading rate limits.
All About the WOO Token Purchase
WOO Token is the native token of the WOO network and was introduced in October 2020 with 3 Billion tokens generated over the genesis block. The generated tokens were sold in different sales, holding different ratios, and offering benefits to the token holders.
If you are looking to become a WOO token holder and facing issues related to buying, then you are at the right platform. A few easy steps can make you a WOO community member. Also, if you want to reduce trading fees and gain discounts, buying a WOO token is a good option.
Searching for a trading platform, creating an account, completing the verification, transferring fiat currency, and making a final purchase is a basic process to adopt.
While choosing the crypto trading platform, the buyer has to notice the reliability, security, availability of the token, and compatibility with the payment system. Also, trading fees are another major element to focus on while choosing the right platform.
To buy WOO, you can explore a number of CEXes and DEXes such as WOO X, Binance, OKX, Gate.io, Huboi Global, Bithumb, Kucoin, Kraken, etc.
Creating an account over the selected platform, accomplishing the KYC by entering the required details, and linking the bank account with the respective exchange are needed and require approximately 10 to 15 minutes.
The next step is to transfer funds to the account wallet which can be done in different ways. Credit card or debit cards, Bank deposits, and third-party payment channels like PayPal are some of the easy choices to make. Hitting the buying option will help you transfer the WOO tokens to your account at the current price.
Where to Store the WOO Tokens?
Storing the purchased token is an essential part of the buying process and offers a high level of security. Trust Wallet, MetaMask, Coinbase Wallet, Torus, and Ledger are some of the good choices to make. The wallet keeps the coin safe and accessible.
WOO Network is one of the leading crypto trading platforms featuring low fees and deep liquidity for cryptocurrency trading. Its utility token, WOO can be used to minimize the transaction fee as well as gain other staking rewards. WOO X, Binance, OKX, Gate.io, Huboi Global, Bithumb, Kucoin, and Kraken are some platforms from which the token can be purchased.
How to transfer funds between the main account and subaccounts?
Hitting the transfer button on the subaccounts and API page helps in transferring funds from the main account.
Which systems are partnered with WOO Dao?
NEAR blockchain protocol, Kronos Research trading institution, and Binance Exchange are some key partners of WOO Dao.
What is the current value of the WOO token?
WOO coin price at current is $0.2101 with a total supply of 2,250,658,858 WOO and a circulating supply of 1,756,515,806 WOO.