Wootrade - Everything you need to know about WOO Token

While Cryptocurrencies have been growing rapidly since their creation 10 years ago, they still face many difficulties today including low liquidity among various liquidity pools and an increasing number of manipulative traits.

Wootrade has created a revolutionary new platform for trading cryptocurrency that solves liquidity, cost, and adverse selection issues. And today's article is going to take you through every piece of information you need to know about the native token of Wootrade Exchange - WOO Token.

What is Wootrade?

Wootrade was founded by Kronos Research in June 2019, one of the largest cryptocurrency trading firms. They will be seeding liquidity to Wootrade in the short term and creating an ecosystem where employees within both companies won't have any innate advantages over others.

The exchange is a dark pool trading platform that offers significantly above-average liquidity as well as tighter spreads than the major exchanges. Users of this innovative cryptocurrency exchange are offered zero (or even negative) fees and have access to high volumes of trade opportunities with tight spread; it's truly an innovation in crypto markets. They offer simple or advanced layouts for trading purposes.

Wootrade is currently in the top 41st centralized trading exchanges according to Coinmarketcap on 13th August 2021. The 24h trading volume is $202 million dollars and the weekly visit is 43087, which is quite low for a centralized exchange. This is partly due to only 43 coins available for trading on the platform.

What is Wootrade Token (WOO)?

WOO is a native platform token that unites liquidity providers and seekers into a mutually beneficial economic system, where traders receive better prices due to high volume orders executed faster than they would on their own.

Traders are incentivized by matching short positions across multiple regions at once, while also involving longs diversifying one's portfolio away from believing in just one singular region or country alone. By leveraging WOO tokens, the platform incentivizes liquidity providers to compete on prices and spreads for traders, rather than placing importance on volume which can sometimes be fake or manipulative by large market participants like HFT firms with high amounts of capital at their disposal.

Detailed information about WOO Token

WOO Token Metrics

• Name: Wootrade Token.
• Ticker: WOO.
• Contract: 0x4691937a7508860f876c9c0a2a617e7d9e945d4b
• Decimal: 18.
• Blockchain: Ethereum.
• Token Standard: ERC-20.
• Token type: Utility Token, Exchange Token.
• Total Supply: 2,992,061,172 WOO.
• Circulating Supply: 483,913,220 WOO.

WOO Token Allocation

The total supply of WOO is 3,000,000,000 tokens and distribution is as below:

• Ecosystem (Rewards): 50% as 1,500,000,000 tokens.
• Team: 20% as 600,000,000 tokens.
• Token Sale: 20% as 600,000,000 tokens.
• Advisors: 5% as 150,000,000 tokens.
• Liquidity Management: 5% as 150,000,000 tokens..

WOO Token Use Case

This coin can be used for the following main purposes:

• Staking: The staking program on Wootrade exchange is not available yet. However, users can stake WOO on these platforms.

• Collateral: WOO may be used as trading collateral.
• Mining: Earn WOO for bringing quality order flow to the platform as a node.
• Payment: Paying less in margin and wealth management fees with woo.
• Discount: WOO entitles users to receive fee discounts on Kronos Research asset management products.

How to buy WOO Token

You can buy WOO token on Coin98 Exchange by swapping other tokens for WOO following these simple steps with: exchange.coin98.com

Step 1: Connect Coin98 Extension Wallet.

Step 2: Select Uniswap.

Step 3: Choose coins/tokens for trading:

• Search WOO.
• If the result does not come up, you can paste the contract of WOO into the search box: 0x4691937a7508860f876c9c0a2a617e7d9e945d4b

Step 4: Adjust the amount you want to Swap.

Step 5: Adjust the gas fee, then click Approve.

Alternatively, you can apply the same steps for Coin98 Wallet to swap for WOO tokens.

How to mine WOO Token

WOO is a utility token so it can not be mined.

How to store WOO

You can store the WOO token on Coin98 Wallet with these steps below:

Step 1: Open Coin98 Wallet & click Receive on the home screen.

Step 2: Search WOO Token.

Step 3: Click on the correct result, copy the wallet address and send WOO to this address.

Roadmaps and Updates

Team, Investors, and Partners

Team

In 2018, Mark and Jack started their company with just 2 employees. But by the end of that year, they had grown to a staff of 60 researchers across 3 cities who were eagerly working on new ideas for Kronos Research.

• Jack Tan - Co-Founder: Jack has been trading for 30 years and is one of the most successful quantitative traders in digital assets. Kronos Research, which he co-founded with a partner, trades $30 billion per month on average. Jack started his career at BNP Paribas then Deutsche Bank after graduating from Carnegie Mellon University.
• Mark Pimentel - Co-Founder: Mark co-founded Kronos Research and acts as the company’s Co-CEO. Mark started his career in Citadel Investment Group's High-Frequency Trading unit where he was able to make $892M for the firm in 2007 before eventually being promoted to lead Knight Capital's electronic market development group.

Investors

Wootrade has raised a total of $10 million in funding over 3 rounds. The latest round was on Sep 15, 2020, from Seed investors Defiance Capital and GBV Capital as the most recent investors.

Partners

Wootrade has been able to establish a few partnerships, but they're still new. They recently partnered with 1INCH which will provide more liquidity and make trading even easier for customers. 

Otherwise, you can find Wootrade’s partners in various applications below:

Is WOO a good investment?

This article has provided some of the main ideas related to the WOO token and its implications. Still, it is important to note that there are a few key points that investors should take into account before making investment decisions:

• Wootrade is one of the few exchanges that offer a fee-free trading experience, but many have found their features are limited. This can make it difficult for them to attract new users and investors who are looking for options to maximize profits such as lending, borrowing, staking, etc.
• WOO Token use cases are still limited compared to other exchange coins such as BNB or HT due to the project being new. Therefore, we need to monitor the development of the project before making investment decisions.
• In general, other exchanges have made big changes to build their own ecosystems to optimize the use of native tokens, such as Binance or Huobi that have their own blockchains. However, the ecosystem of Wootrade is still quite sketchy at the moment.

Conclusion

I hope you have gained all of the important information about WOO including its features and highlights throughout this topic.

If you have any questions about WOO or want to know more about WOO token, please feel free to leave a comment below for further discussions about Crypto.

Learn more:  What is Udder Chaos (MILK)? All about MILK Token