On October 27th, WOO Network (WOO) was listed on HotsCoin. WOO Network (WOO) is a project that connects traders, exchanges, institutions, and DeFi platforms, aiming to address the primary issue in the world of cryptocurrencies—decentralized liquidity by providing zero-cost or low-cost liquidity and trade execution. It is currently available for trading on HotsCoin.
Basic Information
HotsCoin has observed that WOO Network was originally incubated by the major cryptocurrency quantitative trading company, Kronos Research, with the goal of reducing market inefficiencies and chaos in the crypto market. The ultimate objective of the project is to standardize liquidity. WOO Network channels substantial liquidity through its market maker, Kronos Research, and API integrations, internalizing order flow from other cryptocurrency exchanges. Its main products include WOO X, a zero-fee cryptocurrency trading platform, which also serves as a liquidity aggregator for digital assets. Additionally, HotsCoin has noted that WOOFi is the DeFi segment of WOO Network, assisting decentralized exchanges by providing on-chain liquidity. Furthermore, WOO Network operates its official investment arm, WOO Ventures.
Key Data
Circulating Supply: 1,754,825,408.34 WOO
Total Supply: 2,250,658,857.902 WOO
Circulating Market Cap: $362,106,081.484
Fully Diluted Market Cap: $464,420,708.7
HotsCoin has acknowledged some milestones of WOO Network:
- On January 4, 2022, WOO Network successfully raised $12 million in strategic financing.
- On November 9, 2021, WOO Network completed a $30 million Series A funding round.
WOO Token Utility
WOO (WOO) tokens are utility tokens deeply integrated into WOO Network's CeFi and DeFi products, offering various benefits such as fee discounts, earnings, referral bonuses, and other specific product advantages.
Current WOO Utility
Trading Advantages: Users can stake WOO tokens to unlock the "zero-fee zone" and gain fee discounts, referral bonuses, free withdrawals, and other benefits on WOO X, including contract and API trading.
Income Sharing: WOO tokens can be staked on WOOFi, allowing users to earn income from trading and exchange fees in USDC or WOO forms. 80% of WOOFi fee income is distributed to stakers every week.
Earning with WOOFi: DeFi users can stake WOO on WOOFi to capture value from trading fees and more.
HotsCoin has recognized WOO token's institutional advantages: Trading institutions generating substantial trading volumes on WOO X can stake WOO tokens according to their trading volume and requirements to gain increased API trading rate limits and reduced fees.
HotsCoin has noted the staking rewards of WOO tokens: Stakers on WOO X currently receive basic rewards, along with rewards from platform activities. Integrations with DeFi applications may offer additional opportunities to earn WOO token rewards.
HotsCoin has acknowledged the launchpad for WOO tokens: Users staking on WOO X will receive allocations for exciting new projects, with more details to be revealed soon.
Community
WOO Network has established a global network of traders and investors, supporting multiple languages, regions, and social platforms.
Future WOO Utility (2023)
HotsCoin has observed that the utility of WOO tokens will expand as WOO Network's liquidity, exchanges, and DeFi services grow. The following are the future utilities:
Social Trading Access: WOO stakers can gain access to social trading features on WOO X, simulating highly professional trading strategies from top-performing traders.
Institutional Earnings Strategies Access and Discounts: Users staking WOO will be able to unlock institutional-level earning products.
Buying WOO
You can purchase WOO tokens on Hotscoin exchange:
Conclusion
WOO Network (WOO) is a versatile crypto project aiming to address liquidity issues in the market and provide various advantages to the crypto community. The project combines CeFi and DeFi elements, offering holders various benefits, including fee discounts, earnings sharing, referral bonuses, and more. The future utility of WOO tokens is set to expand as WOO Network grows, providing more opportunities for investors and traders.
HotsCoin will continue to monitor the project's ecosystem. Please note that investing carries risks, and the above report is for reference only and does not constitute investment advice. (Report written in October 2023).
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