The crypto space is comprised of centralized platforms, decentralized platforms, traders, institutions, etc. For the smooth functioning of the industry, a fine collaboration is pretty much required. Woo Network is a deep liquidity network that connects traders, exchanges, other institutions, and DeFi platforms offering the best liquidity and trading execution at a lower cost or zero cost.
It offers both centralized and decentralized platforms with deep liquidity with low-cost and customizable workspaces. WOOFi, the DEX offers a similar marketplace as the traditional exchange’s order book called the Synthetic Proactive Market Model. The users can swap, earn, and stake WOO which is the native token of the platform.
|Launch Date||March 01, 2019|
|Founder||Jack Tan & Mark Pimentel|
|Blockchain Protocol||Ethereum Blockchain|
|Market Cap||$360.63 million|
|Token Type||ERC-20 & Native token|
|Circulating Supply||1.65 billion|
|Max Supply||2.25 billion|
Woo Network was founded by a team comprising Kronos Research, with co-founders Jack Tan and Mark Pimentel. Kronos Research which was founded in 2018 is a crypto quantitative platform that specializes in arbitrage and high-frequency trading (HFT). Both Jack and Mark started Woo Network, primarily called Wootrade in 2019.
The team prior to Woo Network has built several products and services including CeFi-DeFi offerings, the intersection of retail institutions, etc. the network has also attracted top giants like Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, Crypto.com, etc raising $30 million in series A funding.
Woo Network’s services include the platform’s centralized exchange (CEX), WOO X, DeFi-related offerings under WOOFi the DEX, and Wootrade which also acts as a liquidity pool for institutional clients.
WOO X is the CeFi product that was launched in August 2021 and is the first exchange to use Payment for Order Flow (PFOF) which is a compensation model that rewards the brokers who forward orders to various other market participants to execute the trade.
Wootrade is the network’s dark pool trading platform for institutional clients wherein they can place trades without revealing their strategy to the public. It aims to offer above-average liquidity and tighter spreads for exchanges, wallets, OTC desks, and large traders.
WOOFI Swap, the Decentralized exchange manages the transaction using the Synthetic Proactive Market Maker algorithm model. The platform avoids intermediatory control while operating similarly to centralized exchanges. It is designed to stimulate the price, spread, and depth of an order book on CEX with lower fees.
|Woo Network Price Today||$0.2148|
|Price Change <Yearly>||-52.5%|
|Market Rank (as per CMC)||106|
|Market Cap||$356.49 million|
|Fully Diluted Market Cap||$485.94|
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