WOO Network is a deep liquidity network that provides democratized access to best-in-class liquidity and trading execution at low or no cost to traders, exchanges, institutions, and DeFi platforms. WOO Token is used for staking and fee reductions in the network's CeFi and DeFi products.

Currently, a wide range of goods and services have been developed that interface with retail, institutions, CeFi, and DeFi: * WOO X is a zero-fee trading platform that offers best-in-class liquidity and execution to professional and institutional traders. It has fully customisable modules for personalizing workspaces. WOOFi is a decentralized exchange that is used across various DeFi protocols and apps to improve on-chain liquidity and execution. On BNB Chain and Avalanche, they now provide swaps, WOO staking, and yield-generating pools. WOO Network provides liquidity as a service to institutional clients like as exchanges, allowing them to upgrade their orderbooks to a depth deeper than major exchanges and narrow their bid/ask spread.

History

The founding team of WOO Network includes Kronos Research co-founders Jack Tan and Mark Pimentel. Kronos Research, a bitcoin quantitative trading business launched in 2018, focuses in arbitrage and high-frequency trading (HFT). Tan and Pimentel founded WOO Network in 2019 as Wootrade. Since then, the team has created a diversified collection of goods and services that cross retail, institutions, CeFi, and DeFi offerings.

Kronos Research functions as a cornerstone liquidity provider on WOO X as a result of this strong partnership, and they rely on the platform's significant liquidity to balance their market making risks. WOO Network has raised $30 million in Series A funding from Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, and Crypto.com Capital, among others.

How does it work

WOO X is the network's flagship CeFi device. It was the first cryptocurrency exchange to implement Payment for Order Flow (PFOF), a compensation scheme that compensates brokers for moving orders to other market participants for trade execution, when it started in August 2021. Along with more transparency in trade execution, the PFOF model seeks to provide a more competitive price structure for retail traders. The WOO X exchange obtains its deep liquidity by pooling market depth from larger exchanges and establishing an open liquidity pool with numerous market makers, including Kronos Research. Wootrade is the network's dark pool trading platform, which allows institutional clients to place trades without disclosing their strategy to the public right away. Wootrade also seeks to give exchanges, wallets, OTC desks, and major traders with above-average liquidity and narrower spreads.

WOO Network also features WOOFi Swap, a decentralized exchange (DEX) that processes transactions using a synthetic Proactive Market Maker (sPMM) algorithm paradigm. This enables WOOFi Swap to avoid intermediate control while working in a manner comparable to the order book paradigm used by the majority of centralized exchanges. WOO Network claims that their model was created to better imitate the pricing, spread, and depth of an order book on CEXes while allowing WOOFi Swap customers to pay cheaper swap costs.

Total supply and circulation

Maximum supply is set to 3 billion tokens. Total supply is at the moment 2,966,574,425 and the circulating supply is 1,15 billion coins.