Kronos research created the WOO network in the year 2019. It is a trading enterprise for institutions and traders in the world of cryptocurrency exchange. It enables trading at a reduced cost as it is a deep liquidity network. Previously, WOO network aimed to offer deep liquidity to several exchange platforms as well as decentralised and centralised finance platforms. With the help of numerous trading techniques and the aggregation of algorithms, the research provides cheap liquidity.

In October 2020, the WOO network launched its network on Ethereum as a blockchain. It is running on many bridges like Arbitrum blockchain, BSC blockchain and polygon blockchain etc. Several investors like PSP Soteria Ventures, QCP Capital, Gate Capital, Three Arrows Capital, etc., began collaborating with the Woo network after investing a lot in various blockchains.

What is WOO token?

The main product of the WOO network is the WOO token. The WOO network is the network via which all the tasks have been performed over numerous platforms. The WOO tokens are circulated at a maximum amount of 3 billion. They are bought and decomposed every month as per the deflationary model. The amount received from selling the WOO coins is utilised to buy the tokens back from the open market. The distribution framework of the tokens is as follows:

  • 10% if the 3 billion WOO tokens are sold in private and public sales.
  • Equity investors who wish to have seed capital are given the other 10% of WOO tokens.
  • 20% out of the remaining 80% tokens are given to the Wootrade team.
  • Investors who had been invested in WOO for more than
  • 5 years were assigned.
  • For offering incentives such as rewards for network usage, 25% of the Wootrade tokens were set aside.
  • For the insurance fund, 10% of the WOO tokens were assigned.
  • Another 10% WOO tokens were set aside for bestowing rewards to the ecosystem partners.
  • For the WOO ventures, another 5% of WOO tokens were assigned.
  • The last 5% of WOO coins were kept for liquidity management.

    • What are the other breakthroughs in WOO network?

    After the launch of the WOO network, Kronos research debuted three other crypto applications in the cryptocurrency exchange ecosystem. The WOO network gained ample experience from companies like Deutsche Bank, Allston, BNP, Virtu, Citadel etc at a technical and monetary level. The other advancements made by Kronos Research are listed below:

    WOOFI

    As one of the breakthrough inventions by the WOO network, WOOFI is solely focused on decentralised finance (DerFi) platforms. It aims to aid the decentralised finance platforms in receiving the best prices with minimal fees. Furthermore, it also helps them to obtain the effective ad at an enormous amount. The main features of this network are swapping, staking and earning.

    WOO Ventures

    Being the latest innovation of the WOO network, WOO Ventures was created to establish strategic partnerships with ecosystems and projects. By using token swaps, it allocates numerous investments. Under this, among the WOO coin holders, 50% of the returns are again distributed.
    As new advancements are taking place in the WOO network, it is slowly enveloping the crypto market day by day. Several crypto investors opt for WOO network to achieve positive outcomes. To save a lot and spend less money on crypto for investors, the WOO network has developed a wide array of algorithms.

    WOO X

    WOO X is a trading platform which offers a trading fee structure with zero expenses and a minimal cost level. It garnered quite a lot of popularity at the beginning. It is considered one of the best liquid cryptocurrency exchanges for institutions and traders globally. It also offers a customisable trading pattern. With its many advanced trading tools, people can buy and sell crypto instantly.
    To wrap it up, WOO network is the most convenient and secure way for trading between several decentralised and centralised finance platforms. Moreover, you can purchase the WOO coins from one of the best cryptocurrency exchanges in India such as WazirX.

    Author's Bio: 

    Rea Setia is an passionate writer. She loves to share business tips and her experience about industry.