WOO (WOO), established by Kronos Research co-founders Jack Tan and Mark Pimentel in 2019, originated as Wootrade. WOO aims to supply deeper liquidity to a wide range of cryptocurrency market participants, by offering a blend of centralized finance (CeFi) and decentralized finance (DeFi) services. Kronos Research, a quantitative trading firm specializing in arbitrage and high-frequency trading, founded in 2018, provides cornerstone liquidity to the WOO Network.
WOO X is a centralized exchange platform, while WOOFi is a decentralized exchange and staking platform, extending its liquidity network to DeFi platforms and facilitating best pricing, low fees, and tight bid-ask spreads. The project supports a range of services for institutional clients through WOO Trade, allowing partner exchanges to incorporate WOO Network’s liquidity via API.
WOO is the native token of the WOO Network, and was launched in October 2020. WOO can be utilized for staking, trading fee discounts, yield farming opportunities, and future participation in governance.
The token adopts a deflationary model, with 50% of the network's revenue dedicated to a monthly buyback and burn program, aimed at reducing the circulating supply and controlling the token's inflation rate, to maintain its value over time. WOO has a total supply of 2.2 billion tokens.
