Wootrade was established in June 2019 by Kronos Research, one of the largest cryptocurrency trading companies. In the short term, the goal was to provide liquidity to Wootrade and create an ecosystem where employees of both companies would not have inherent advantages over one another.
What is Woo Network (WOO)?
WOO is a native platform token that connects liquidity providers and seekers within a mutually beneficial economic system. According to statements, investors on the platform receive better prices due to high-volume orders being executed more quickly than if done individually.
Investors are encouraged to match short positions across multiple regions while including long positions to diversify their portfolio beyond a single area or country. The platform, utilizing WOO tokens, incentivizes liquidity providers to compete on prices and spreads for investors rather than focusing solely on volume, which can sometimes be misleading or manipulative when driven by large market participants, such as HFT firms with substantial capital.
The use cases for the Woo token are listed as follows:
- Staking: Users can stake WOO on Wootrade’s exchange through the staking program.
- Collateral: WOO can be used as trading collateral.
- Mining: WOO can be earned by providing high-quality order flow as a node on the platform.
- Payment: WOO can be used to pay reduced fees in margin and asset management.
- Discount: WOO grants users fee discounts on Kronos Research’s asset management products.
Additionally, in 2018, Mark and Jack founded their company with only two employees. By the end of that year, they had expanded to a team of 60 researchers across three cities, all working enthusiastically on new ideas for Kronos Research.
Where to Buy WOO Coin?
WOO Coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. WOO Coin trades on Binance in pairs like WOO/BTC, WOO/USDT, WOO/BNB, and WOO/BUSD.
To purchase WOO (WOO), one must first register on the Binance exchange. Once registration is complete, funds—either cryptocurrency or fiat—should be transferred to the Binance account wallet. After the transfer, you can buy WOO Coin using one of the three trading pairs mentioned above. For purchases in the WOO/USDT pair, go to its interface and enter the desired amount in the limit section. After specifying the amount, the purchase is completed by placing a Buy WOO order.
