If you’re an investor, you might have heard of Robinhood, the free and casual trading app that has revolutionized the investing world. You might also have heard that Robinhood supports crypto. However, Robinhood crypto traders aren’t able to do much else than buy, hold or sell a handful of supported cryptocurrencies. This can be limiting if you’re looking to venture into popular altcoins or transfer your crypto holdings across wallets. For traders looking to up their game, one up-and-coming platform that supports all this and more is WOO Network and their native WOO tokens.
From high liquidity to feeless trading, WOO Network is a trading platform with a full suite of features that caters to market makers and retail traders. Backing this massive project is WOO tokens — utility tokens that allows holders to support WOO Network’s ambitious goal of zero-fee trading at the best execution prices globally. Curious about the future potential of WOO Network as a platform? Read on as this guide covers everything you need to know about WOO Network and WOO tokens.
What Is WOO Network?
WOO Network is a deep liquidity network where CeFi meets Decentralized Finance (DeFi) takes the decentralized concept of blockchain and applies it to the world of finance. Build.... With WOO Network, traders, institutions, exchanges and DeFi platforms are granted democratized access to the best-in-class liquidity and trading execution at low cost.
WOO Network was incubated in 2019 by Kronos Research, a trading firm that specializes in providing deep liquidity to big exchange platforms. After years of experience in this field, Kronos Research launched WOO Network with a full suite of features to service all kinds of crypto stakeholders. This includes advanced order types to help manage risk, and zero trading fees. With upcoming features like social trading and leveraged futures trading, WOO Network certainly has plenty of room to grow as a platform for both beginning and advanced traders.
What Are the Benefits of Holding WOO Tokens?
Wondering how you can support WOO Network? Buy WOO tokens and benefit from the extensive utility on WOO Network. In addition to taking advantage of WOO Network’s future growth as an all-in-one platform, investors can also benefit by holding onto WOO tokens. These rewards include:
- Zero trading fees, free withdrawals and higher referral rebates with enough staked tokens. While all traders enjoy 0% maker fees, WOO tokens can be staked so taker fees are reduced to 0%.
- Increased API trading rate limit for institutional investors.
- WOO token airdrops to be distributed to stakers.
- Rewards for WOO liquidity provision and yield farming across DEXs.
- WOO tokens can be used as collateral for borrowing and lending on platforms like Sushi Kashi.
- Staking on WOOFi in the future
In case this isn’t enough, there are also plans in the works that will grant WOO token holders discounts for professional asset management services, and voting power for proposals as WOO Network becomes progressively decentralized.
WOO Token Details
The total supply of 3 billion WOO tokens will be distributed according to the general breakdown shown above. If you’re at all alarmed by this huge number and worried about inflation, rest assured that WOO token achieves a deflationary tokenomics model through the buyback-and-burn program. Each month, half of WOO Network’s revenue income will be used to buy back WOO tokens on the open market. While the buyback is performed on an ongoing basis, the token burn takes place the tenth day of each month, and is published on their Twitter feed.
To support the WOO ecosystem, 1.5 billion tokens are allocated to rewarding continued staking and holding of WOO. From backing user assets on WOO Network to distribution through periodic airdrops, you’ll find there are plenty of reasons to stick around as the user base rallies around WOO Network’s many incentives and features. More WOO token allocation details can be found in the image above.
Are WOO Tokens a Good Investment?
With growing media attention, the already robust cryptocurrency market is becoming increasingly attractive. Thus, the explosive potential of exchange utility tokens like WOO is definitely worth considering. As more users join WOO Network and take advantage of its low fees and advanced order types, liquidity will increase. This will incentivize even more institutions to join up, thereby increasing trade executions. Much as exchanges like FTX and dYdX have experienced exponential growth, thanks to their influx of traders, we believe there’s potential for WOO to enjoy a similar increase in the coming years. Add to this formula the ever-expanding list of features implemented by WOO Network and you have a token that crypto traders and investors will be bullish for in the long run.
How to Invest in WOO Tokens: Stake, Study and Share
Want to start investing in WOO? Make sure you check out the Bybit Launchpool from November 10 at 0:00 UTC to November 30 at 23:59 UTC.
After signing up with Bybit and completing KYC Level 1, you can begin staking BIT or WOO tokens. This will grant you the opportunity to earn even more WOO tokens, BIT and futures bonuses with our two staking pools. To promote more flexibility in your staking activities, you can freely stake and unstake your assets anytime during the event. Each pool has a maximum of 600,000 WOO and 160,000 BIT. As for daily yield, it’s calculated according to the number of BIT and WOO tokens you’ve staked, relative to those staked in total over the 21-day campaign period. This is then scaled in proportion to the daily prize pool. After two days, your individual yield will be deposited in your ByFi account. As an additional reward, longer-term investors whose staked value reaches the stated bonus thresholds over seven consecutive days will receive a futures bonus of either 10 or 100 USDT.
In addition to earning WOO tokens via staking, you’ll also stand to win more WOO tokens by studying and being a WOO token know-it-all. Watch our quick video about the WOO Network, and answer all the questions correctly to gain a share in the 50,000 WOO prize pool that’s equally divided among all questionnaire participants.
Lastly, you can earn WOO tokens by sharing about this campaign event across social media. To do so, submit your search link and screenshot to us to earn a share in our 30,000 WOO prize pool.
Ready to get invested in WOO and WOO Network? Just click the link below to get started.