WOO Network is a highly liquid network developed by Kronos Research. It connects traders, brokers (exchanges), institutions and DeFi platforms with democratized access to the best level of liquidity, trade execution and income generation strategies at low or even zero cost.
In this article, we will discuss:
What is WOO Network (WOO)?
WOO Network is a deep liquidity network that connects traders, exchanges, institutions and DeFi platforms with democratized access to best-in-class liquidity and trade execution at lowest or zero cost. WOO Token is used on the network's CeFi and DeFi products for wagering discounts and fees. Currently, a diverse set of retail, institutional, CeFi and DeFi interface products and services have been built:
WOO CHEAP is a zero-fee trading platform that offers professional and institutional traders best-in-class liquidity and execution. It features fully customizable modules for workspace customization.
wootrade is a gateway for institutional clients such as exchanges to access the liquidity of the WOO network to update their order books to a greater depth than top exchanges and tighten their bid/ask spread.
WOOFi is a suite of DeFi products that aims to expand the liquidity network from the WOO Network to DeFi and help DeFi users get the best prices, the tightest bid and ask spreads and opportunities when trading.
How does WOO Network (WOO) work?
WOO Network works with Kronos Research to aggregate and integrate liquidity using quantitative trading and hedging strategies. Liquidity is aggregated from several industry-leading centralized and institutional trading platforms, and more recently through DeFi networks such as Ethereum, BNB Chain, Polygon and Avalanche. Clients connect directly to the network via the API or through the GUI (interface) of WOO X and WOOFi. Others connect indirectly through DeFi platforms like 1inch, 0x or Paraswap.
Market makers on other platforms such as dYdX can also use the WOO Network as an exposure protection site. The zero-fee model and favorable conditions for order takers are ideal for low-cost hedging. Volumes have been growing steadily and as of mid-September 2021, 24-hour trading volume reached $2,5 billion, driven by the exponential growth of popular platforms such as dYdX.
WOO CHEAP
WOO X is the flagship CeFi product built on top of the WOO network. WOO X is powered by industry market leaders, global liquidity pools and quantitative trading strategies. WOO X features first-to-market trading with zero fees, deep liquidity and fully customizable workspaces to provide the best trading experience for professional and institutional traders.
Trade with Zero Fee
Non-API manual traders can reduce their maker and taker fees to zero once they reach tier 1 with 1.800 WOO chips staked on WOO X. Players on WOO X can even enjoy free withdrawals daily (all networks) and increase referral discounts.
Wootrade's liquidity solution: Democratizing access to the best liquidity pool
Wootrade disrupts the liquidity monopoly by democratizing access to deep liquidity. Exchanges can access the WOO network via API integration and immediately update the depth of their order books and tighten their bid/ask spread, which allows for more direct competition with major exchanges. In addition, Wootrade allows partner exchanges to protect themselves on WOO X, without having to protect themselves on other exchanges with high commissions and slips. Features such as full cross-margin, competitive interest rates, and automatic margin rebalancing are also provided.
The difference Wootrade liquidity as a service makes is easily visible. For example, our partner exchanges have been able to offer traders hundreds of thousands of USDT performed with minimal slippage. Today, if an order is placed on partner exchanges like Gate.io, Ascendex, Hoo, and MXC, liquidity can be drawn from Wootrade's liquidity pool.
In essence, Wootrade is providing a base tier liquidity solution that exchanges critically need. Instead of worrying about liquidity, these exchanges can now focus their resources on security, acquiring customers and developing even more innovative products and services. Ultimately, value accrues to the WOO token because when a customer exchanges onboard, he must pay fees or stake in WOO tokens, as outlined in the Zelosous Rhinos program.
WOOFi
WOOFi is a BSC-based Automated Market Maker that uses the Synthetic Proactive Market Making (sPMM) model for pricing. Most typical AMMs use the simpler and more classic Constant Product Market Maker (CPMM). The WOO network helps decentralized exchanges and market makers by bridging the gap between CeFi and DeFi with a combination of liquidity pools, on-chain price feed and hedging strategies.
This toolkit has been consistently driven by on-chain market making strategies with an average daily aggregate volume of $300M. These trading strategies span multiple blockchain and scale solutions, including DEXes such as DODO, dYdX, 0x and Paraswap. In turn, this approach allowed the WOO network to internalize the order flow in the chain.
Due to its success in providing on-chain liquidity, the WOO Network has created an open-source, multi-channel DeFi platform called WOOFi, which offers the best trade execution and lowest swap rate, opportunities for sustainable cryptocurrency returns, and a high efficiency for the provision of liquidity in the chain. It consists of three key modules:
swap
Users can swap between token pairs in WOOFi's liquidity pools. The sPMM model has more similarities with the order book of traditional brokers than with AMMs like the Uniswap on Ethereum (ETH). sPMM relies on WOO Network's market data oracles to scan the order book prices of centralized brokers such as Binance and calculate a suitable trading price. Liquidity comes from single pools rather than using the traditional two-asset liquidity pool (LP) system. WOOFi manages and rebalances these assets by offering incentives to investors who provide assets with low liquidity.
Earn
A DeFi performance optimizer provides the hassle-free experience of winning DeFi with set-and-forget vaults. Strategies are constantly looking for safe yet lucrative income opportunities and deploying vaults for users to simply deposit and earn.
Stake
Allow users to wager WOO tokens to capture WOOFi Swap and Earn rate and increase their income in WOO tokens.
WOO Ventures
WOO Ventures is the investment division of WOO Network, which seeks strategic partnerships with projects and ecosystems. 50% of the returns from all investments are distributed back to the holders of the WOO token.
WOO token
WOO launched on October 30, 2020, with 3 billion WOO tokens created in genesis. 10% of the tokens were sold in private and public sales, 20% goes to staff and 5% goes to advisors. WOO Token is a utility token deeply embedded within the WOO Network's CeFi and DeFi products and services with various staking, discounting, yield and governance services and services.
Currently, 50% of the revenue generated by the WOO Network services contributes to the monthly buyback and burn through the purchase of WOO tokens outside the secondary market to permanently remove them from the circulating supply. Additionally, this buyback is then combined with a monthly burn from the Ecosystem Reward Pool to the WOO token, which lowers the maximum supply and lowers its Fully Diluted Value (FDV).
Where to buy WOO token?
WOO cryptocurrency can be traded on the following exchanges:
- Binance
- OK
- bybit
WOO Network (WOO) Price Forecast
WOO Network price is predicted to reach a maximum level of $0.4754 throughout 2022. According to our crypto price prediction index, in 2023, WOO Network (WOO) price may reach a maximum level of $0.915, with the average trading price of $0.680. According to our crypto price prediction index, in 2025 WOO should cross an average price level of $1.103.
The minimum expected value of the WOO Network price at the end of the current year should be $1.018. Furthermore, WOO can reach a maximum price level of $1.124. The price of WOO Network is predicted to reach the lowest possible level of $0.976 in 2030. According to our crypto price prediction index, the price of WOO could reach a maximum possible level of $1.800, with the predicted average price of $1.356.
Conclusion
WOO Network is a convenient option for those looking for the security of a CEX and access to a DeFi platform with options for tokens not listed on other exchanges. The focus on liquidity is essential for users of blockchain who want to avoid slippage at all costs. Overall, this project is one of the rare options that combine the services and features of CEX and DEX.
