WOO Network started its journey in the crypto space in June 2019 under the branding of Wootrade. As a platform, WOO Network aims to bridge the gap between exchanges, traders, institutions, and DeFi platforms with best-in-class liquidity.
It was founded by the team behind Kronos Research, a leading multi-strategy quantitative trading firm averaging up to $10 billion in daily trading volume on global cryptocurrency exchanges. Kronos is also a Designated Market Maker (DMM) for top exchanges including Binance and OKEx, as well as top DeFi exchanges like dYdX. On that count, the WOO community has demonstrated credibility as it is backed by a well-established entity with a proven track record.
The WOO Network ecosystem
The WOO Network consists of the following products that form the backbone of the WOO ecosystem:
WOO X
WOO Network pitches WOO X as a zero-fee trading venue for traders with the best-in-class liquidity and trade execution. It is basically the flagship CeFi product operating on the broader WOO ecosystem. It packs together some of the deepest spot and futures markets, along with institutional-grade trading features accessible to all users.
WOO token
WOO token is the native asset in the WOO Network. It’s a utility token that glues together the various components of WOO Network’s DeFi and CeFi products and services. Through staking the WOO token, users can access improved fee tiers, free withdrawals, and other benefits. The platform has allocated 50% of its revenue generated across its ecosystem to the buyback and burning of the token.
WOOFi
One of WOO Network’s main objectives is to continue expanding its liquidity network to the DeFi space. The idea here is to make room for DeFi users to benefit from competitive pricing, tight bid-ask spreads, and yielding opportunities. Therefore, the team overseeing the project has grouped all their DeFi-related products under the umbrella term of WOOFi.
WOO Ventures
WOO Ventures is an integrated program within the WOO ecosystem that democratizes investment opportunities in early-stage crypto projects.
As these crypto projects grow with time, they bring various strategic benefits and economic incentives to the WOO Network community.
This is a mutually beneficial arrangement for new projects as well, as it could potentially bring them a dynamic user base from the WOO Network community. WOO token holders, meanwhile, can stake their tokens to get airdrops and other benefits from these early-stage projects.
Conclusion
Overall, WOO Network is indeed a pretty vast ecosystem of products that collectively promises to alleviate some of the lingering pain points crypto traders across the board regularly face.
With WOO X integration on the horizon, Mizar and WOO Network have partnered together so that you can utilize Mizar’s tools and strategies on WOO X’s Exchange! With Mizar, you’re able to connect your API keys from WOO X to our platform so that you can start automating your trading and take part in copy trading strategies without ever giving up the custody of your tokens! Since Mizar is non-custodial, the bots or strategies you use on our platform can only trade on your behalf, never having the ability to transfer your funds out of your wallet. This way you will be able to enjoy the benefits of both platforms in a simple and seamless way, with you feeling secure that your funds are safe within the possession of your accounts!
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