When looking for crypto exchange platforms, one of the things that holders and traders look for is minimum trading fees. At the same time, an equally important factor that needs to be considered when investing in these kinds of digital assets is liquidity since it determines how they can be converted into cash easily without losing money in the process.
One crypto exchange site that offers the best of both worlds is WOO Network exchange. Founded by Kronos Research back in 2019, it’s now one of the most successful sites in existence, recording an average $5-10 billion trading volume every day. Eager to learn more about this network? Here’s everything you need to know:
What is WOO Network exchange?
Woo Network offers both a decentralised and centralised exchange but what makes it different from other platforms in the market is that it’s part of a deep liquidity network. This means that not only will you be able to trade crypto assets with ease but you’ll also be exposed to the best liquidity possible as well as yield generation. The best part is that these features come with little to no fees at all.
The idea behind making this network came up when Kronos Research noticed that several crypto exchanges fell short in offering liquidity. And if it was available on an exchange site, chances are, it’s unaffordable.
The way it provides liquidity to its users is through various trading and hedging strategies. It is then collected from leading DeFi platforms and centralised trading platforms.
If users want to connect to the network directly, they can easily do so by using an application programming interface (API) or the GUI of either WOO X or WOOFi, the network’s centralised and decentralised exchanges.
Different products of WOO Network exchange
The deep liquidity of WOO Network exchange allows it to become useful in various ways which is why it offers various products including:
WOO X is the network’s centralised exchange platform where users can trade their assets for only a low fee, regardless of the amount of the transaction. Aside from that, it also provides the network with liquidity through Kronos Research.
The site offers full customization so users can personalise the interface to their liking. If you’re a beginner, you can easily get overwhelmed by the different elements on the screen which is why it’s helpful to have the power to customise the widgets. This way, you can design the interface the way you like making you more efficient in your crypto trading.
Other widgets are also useful for experienced traders including charting tools that help in technical analysis.
Thanks to the usefulness of the Binance Smart Chain, Kronos Research was able to develop WOOFi, a BSC-based Automated Market Marker (AMM). AMMs are used to determine the prices of assets accurately. It’s a protocol used by decentralised exchanges that uses pricing algorithms instead of traditional order books.
WOOFi offers three main features. These are:
One of the main uses of the liquidity pools found in WOOFi is to swap between token pairs. This is done through the Synthetic Proactive Market Making model of the exchange which resembles order books from traditional trading platforms.
This particular model works hand in hand with market data oracles to check and scan prices from other centralised exchanges. This way, it can compare these prices and calculate a more accurate trading price.
Among the best ways you can earn income passively is through the network’s liquidity pools. In WOOFi, you can use liquidity pool tokens from other decentralised exchanges to start yield farming or in other words, make more crypto with already existing coins.
Before users can start swapping and earning in the network, they first need to stake their tokens. By doing this, they’re contributing to the revenue they can generate when doing these two activities.
Aside from the exchanges and liquidity pools, WOO Network exchange also has an investment arm that aims to make arrangements with other projects and ecosystems. WOO token holders will then receive 50% of the returns from all successful investments made by the network.
What is WOO Token?
WOO Token is the utility coin of the WOO Network and it’s what merges all of its DeFi and CeFi services and products. It can also exist on multiple blockchain networks by using bridges such as Avalanche, Ethereum, Polygon and more.
A total of 3 billion of these tokens were made and each month, it decreases through token burns. This will continue until 50% of the max supply of 3 billion is burned.
Holding WOO grants its users access to various benefits in the WOO X centralised exchange including staking discounts, trading rebates and most importantly, zero-fee transactions. Aside from these WOO X benefits, here are some of WOO token’s use cases:
Staking plays a huge role in the network itself as it can grant you lower trading fees that can go as low as 0 in the WOO X decentralised exchange. Moreover, if you have several WOO tokens to spare, you can stake them in the network to reduce fees further as well as increase your trading limits.
If you have some WOO tokens to spare, you can use them as collateral when you lend them in crypto loans. This way, you can ensure that not only will you regain your tokens but you’ll also gain interest.
One of the most important uses of WOO tokens is in the on-chain governance. Those who are holding at least 1,800 WOO tokens in their wallets can participate in the decentralised governance which is a system that allows users to suggest changes in the network.
Should you use WOO Network exchange?
If you’re looking for a reliable exchange platform but find different transaction fees a burden, then you should check out WOO Network exchange. Aside from providing zero fees, it also provides liquidity to its users, helping them generate profit as they trade within the platform. Moreover, the platform’s utility token, WOO, provides various use cases such as being used in governance, lending and staking, all of which are beneficial to the user.