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About WOO Network
Disclosures
WOO Network risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading WOO Network. All crypto assets are risky, there are general risks in investing in WOO Network. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
WOO Network’s price performance
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WOO Network FAQ
WOO Network is a cryptocurrency liquidity provider that offers deep liquidity at lower to zero costs and the least slippage. WOO is the name and ticker symbol of WOO Network's native utility and governance token.
Through API integration, WOO Network provides deep liquidity to institutional clients, such as cryptocurrency exchanges. To provide decentralized token swaps on WOOFi, WOO Network uses Synthetic Proactive Market Making (sPMM) liquidity pool.
CertiK, a leading blockchain security ranking platform, has audited all of WOOFi's products, including WOOFi Swap, Stake, and Earn. Additionally, WOOFi Swap is audited by the smart contract firm Verilog.
WOO Network takes regulatory compliance very seriously. According to their Q2 2022 report, WOO Network has obtained Virtual Asset Service Provider (VASP) licenses and registration in Poland, Taiwan, a few EU member states, and other regions with favorable crypto asset regulations.
Easily buy WOO tokens on the OKX cryptocurrency platform. OKX’s spot trading terminal includes the WOO/USDT trading pair.
You can also swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for WOO with zero fees and no price slippage by using OKX Convert.
Dive deeper into WOO Network
WOO Network is a deep liquidity network that enables retail, institutional, and professional traders to execute large orders with the least slippage and near-zero fees. WOO is the name and ticker symbol of WOO Network's native utility and governance token.
WOO Network's ecosystem comprises 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 (DEX) 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, 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 supported in more than 100 countries and is regulatory compliant. Finally, WOO Ventures, the investing division of WOO Network, gives WOO token owners 50 percent of all investment returns.
WOO Network has several use cases across its 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 percent of the tokens in their private and public sales. 10 percent was allocated to supporters, 20 percent to the Wootrade team, and 5 percent to advisors. These allocations have a linear vesting schedule of up to 3.5 years, which impacts WOO's price charts.
50 percent of the WOO supply was reserved to support the WOO project in activities like distributing ecosystem rewards (25 percent), providing insurance (10 percent), rewarding partners (10 percent), and supporting early-stage projects (5 percent). The remaining 5 percent was earmarked for liquidity management.
Every month, 50 percent 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.
Disclaimer
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