Nội dung bài viết
Overview
WOO Network is a company that provides both centralized and decentralized services. Its main product is WOO X, a fee-free cryptocurrency trading platform that also serves as a liquidity aggregator for digital assets. WOOFi is the DeFi branch of the WOO Network and supports decentralized exchanges by providing liquidity on-chain. WOO Network aims to become a major player in the CeDefi bridge (between centralized and decentralized finance).
WOO Network was initially incubated by Kronos Research, a large quantitative trading company with 110 employees worldwide operating in market making, high-frequency trading (HFT), and arbitrage. Kronos Research observes an average of $5 billion in daily trading volume on global exchanges and is one of the largest algorithmic trading firms in the world.
It currently serves as the sole market maker on the WOO X trading platform. Kronos Research is also a designated market maker for Binance, Huobi, and OKEX, and is a leading market maker for the decentralized exchange dYdX.
Info: $WOO token is the thread that weaves WOO X + WOOFi together into a cohesive whole, enabling a growth flywheel running in perfect unison.
@_WOOFi: Stake for real yields, buybacks from fees
@_WOO_X: Stake for benefits, utility for social trading + more to come
Backers & Team
Investors
In early January 2022, Binance Labs led a $12 million series A+ investment round in WOO Network. The investment will support the rapid expansion of WOO Network through talent attraction, research and development, as well as the development of new decentralized products.
Total funding raised: $57.82 million
Team
WOO Network was incubated by Kronos Research, a multi-strategy trading company specializing in market making, arbitrage, CTA, and HFT, with an average of $5-10 billion in daily trading volume on global cryptocurrency exchanges. The leadership team includes the co-founders of Kronos Research, Jack and Mark, who turned a two-person team in 2018 into a global quantitative trading powerhouse with over 100 employees in 12 cities.
Tokenomics
Allocation
In the first half of 2023, WOO Network will introduce a series of improvements to the WOO token. The first part will focus on addressing existing issues while making the token distribution more transparent.
WOO Network will burn over 705 million WOO tokens, about 24% of the maximum supply, when WOO Ventures, WOO DAO, and the insurance fund are broken.
All dead token burns will stop, while a large part of the remaining ecosystem tokens will be placed in time-locked vesting contracts to provide more transparency and clarity on token supply.
WOO Token Use Case
With WOO Tokens, the use cases for this token are as follows:
- 50% of transaction fees across the WOO Network service networks will be repurchased and burned on the secondary market every month, increasing the scarcity of WOO tokens.
- Staking:
- Staking to receive reduced transaction fees, unlock feeless trading features on WOO X.
- For institutions: When they generate large trading volumes on WOO X, they can stake WOO tokens based on their trading volumes and trading requirements to increase API limits and simultaneously reduce fees.
- Yield:
- WOO stakers will receive WOO tokens.
- WOO tokens will be staked on WOOFi to receive rewards from transaction fees.
- Discount: Using WOO Tokens will receive reduced transaction fees, encouraging buying WOO tokens.
- Governance: WOO Network aims to become a completely decentralized exchange. Therefore, WOO Tokens are planned to become governance tokens to earn voting rights over time and the amount of WOO staked.
- DeFi Liquidity Provision and Yield farming: WOO is embedded in various DEX exchanges to provide profits through yield farming.
- Borrowing & Lending: WOO can be used as collateral for borrowing and lending on Sushi Kashi, Rari Capital.
Catalyst
Users, dex volumes, cex are all growing strongly.
The project’s marketing has just started with WOOFI tw.
Binance receives vesting but has not sold yet (conspiracy theory)
Video details: https://youtu.be/nOtaodCwkmY
ONCHAIN
WOO was withdrawn from many exchanges in the 0.1-0.15 range in late November – December 2022.
Whales WOO watchlist: https://app.depocket.com/dashboard?w=ee4dca7f-3c33-4550-b2f3-9c5b6a12ce66
Chart
The price is currently sideways with a range of 0.1-0.3 on a weekly basis.
The daily frame starts with a gradually decreasing sideways range around 0.2 + Volume => signs of supply tightening => ACCUMULATION
Potential and Risks
- Compared to similar exchanges: WOO currently has a decent price trend, average market cap, user volume growth during downtrend, and similar coins such as BGB, OKB, DYDX, etc. Prices is holding good during downtrend and may have growth in uptrend. However, there are also risks that need to be considered, such as market volatility, regulatory changes, and technical issues.
- Market and political risks: The conflict between China and Taiwan could affect the WOO project, as WOO’s headquarters are located in Taiwan. The nearest support areas are 0.18-0.2, 0.14-0.16, and 0.1-0.11.
- Video details: https://youtu.be/nOtaodCwkmY.
