WOO Network (WOO)

Trading and Liquidity

WOO Network connects crypto exchanges, traders, and DeFi platforms to offer deep liquidity and low-cost trading. Users can trade on both centralized (WOO X) and decentralized (WOOFi) exchanges with tight bid-ask spreads and zero or low fees.

Staking and Rewards

Holding and staking WOO tokens unlocks benefits like reduced trading fees, daily fee withdrawals, increased referral rebates, and earning rewards through liquidity mining.

Governance

WOO tokens give holders voting rights to participate in decisions about the network’s future, helping shape its development and policies.

Collateral and Lending

WOO tokens can be used as collateral for borrowing and lending within the ecosystem, supporting DeFi activities.

Access to Special Features

Users gain access to exclusive services such as trading rebates (Trade-to-Earn), airdrops from WOO Ventures, and customizable trading workspaces.

These use cases make WOO Network a versatile token for traders, institutions, and DeFi users seeking better liquidity, lower costs, and governance participation.

Pros

• Low Trading Fees: WOO Network offers very low fees starting at 0.03% per trade, making it cost-effective for spot trading.
• Diverse Ecosystem: It includes multiple products like WOO X (centralized exchange) and WOOFi (decentralized finance), supporting a wide range of crypto activities.
• Wide Asset Support: Users can trade over 200 cryptocurrency pairs, including margin and futures contracts.
• Deep Liquidity: The platform provides strong liquidity, which helps with smooth and fast trading.
• Customizable Interface: Traders can tailor the trading interface to fit their needs.
• API Integration: Supports connection with trading bots for automated trading.
• Passive Income Options: Offers staking and other ways to earn passive income.

Cons

• No Fiat Support: WOO Network only accepts and withdraws cryptocurrencies, with no direct fiat deposits or withdrawals.
• Payment for Order Flow (PFOF): Some users may be concerned about the PFOF model, which could create conflicts of interest.
• Customer Support: Limited direct communication channels and slower response times.
• Platform Glitches: Some users have reported issues connecting wallets or platform loading problems, especially on WOOFi.
• Regulatory Oversight: Registered in the Cayman Islands with limited regulatory supervision, which might be a concern for some traders.

Founders of WOO Network

WOO Network was founded by Jack Tan and Mark Pimentel, who are also the co-founders of Kronos Research, a cryptocurrency quantitative trading firm. They started WOO Network in 2019 to provide deep liquidity and better trading execution for traders, exchanges, institutions, and DeFi platforms.

Institutional Investors

WOO Network has raised funds from major trading institutions and venture capital firms such as Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, and Crypto.com Capital.

Venture Capital and Crypto Funds

Other notable investors include Binance Labs, Fenbushi Capital, Amber Group, X21 Digital, Basics Capital, Caladan, and Efficient Frontier.

Market Makers and Trading Firms

Wintermute, Pulsar, Presto Labs, AlphaLab Capital, and Riverside Hedge are among the market makers and trading firms that have invested in WOO Network.

Exchanges and Research Firms

Investors also include exchanges and research firms like AscendEX, AntAlpha, MEXC Global, LBank, BitMart, 3Commas Capital, TokenInsight Research, AVATAR, and ViaBTC Capital.

These investors reflect a broad support base from across the crypto trading, liquidity, and institutional finance sectors.

Halal Status of WOO Network

• Yes, WOO Network is generally considered halal by some Islamic finance sources because it functions as a liquidity provider and trading platform without involving interest (riba) or gambling (maisir).
• However, some concerns exist due to its association with futures trading and DeFi features, which may not be fully compliant with all Islamic finance principles.
• The halal status can vary depending on individual interpretation and the specific use of the token.