The Blockchain Arena Has Continued To Grow Since The Emergence Of Bitcoin, And Digital Currency Exchanges Have Played An Important Role In This Growth, But Until A Few Years Ago, There Were Not Many Options For Exchanging Digital Currencies In The Market. 

The extensive exchange Binance was established in July 2017, and at that time, it was separated from Uniswap or other automated market makers(AMM). There was no news.

Accordingly, it seems that the emergence of the Wu network (Woo Network) was also to fill this gap.

The Wu network is built on the Ethereum blockchain and uses its native token Ba for all its transactionsERC20 standards which have made this network benefit from speed, efficiency, and security.

In this article, we intend to examine the nature and way of working of this network and its history and features, So stay with us until the end of this article.

What is WOO Network?

Wu is a deep and abundant liquidity network that connects traders, exchanges, institutions, and DeFi platforms. Through this network, users can access market liquidity and execution of transactions and strategies for profit in a decentralized way and with little or even free cost.

In 2019, Algorithmic Trading IncKronos Research(Kronos Research) presented the idea of ​​the Wu network. For a long time, this company was the leading market maker among all significant exchanges, and its daily trading volume was around 5-10 billion dollars.

Relying on the experience gained in the digital currency market over the years, the Kronos team noticed a significant shortcoming. This shortcoming was insufficient liquidity that many centralized and decentralized digital currency exchanges faced.

Wu Network stepped into such a space and now offers products that give users more liquidity at a lower or even zero cost. Binance Labs organized The Woo Network delivers services on the centralized Woo X (WOO X) and the decentralized WooFi (WOOFi) exchange and its staking platform. This network has another forum, Woo Trade (WOO Trade), for institutional customers.

Businesses can integrate the liquidity of the Woo network into their services through an application programming interface (API). Binance Labs organized Woo Network’s A+ round of funding, and $12 million was raised in January 2022.

History of Woo network

In 2018, Jack Tan and Mark Pimentel founded a company with only two employees. By the end of that year, they had expanded their company to the extent that their employees reached sixty people in three different cities. The company’s employees enthusiastically worked on the ideas that became the foundation of Kronos Research.

Jack Tan has a long history in trading and is one of the few successful traders in the world of digital currencies. He graduated from Carnegie Mellon University, started his professional career at BNP Paribas, and then went to Deutsche Bank. Kronos Research, which he co-founded with Pimentel, does an average of $30 billion monthly.

Mark Pimentel, the other founder of Kronos Research, is the CEO of this company along with Jack ten Semet. He started his professional career in the trading department of Citadel Investment Group. In 2007 alone, Pimentel achieved 892 million dollars in revenue for this company. After that year, he was promoted to the Knight Capital electronic market development group management.

Investors

Woo Trade has collected 10 million dollars of capital in three fundraising rounds. Its last fundraising round was held on September 15, 2020. Defiance Capital and GBV Capital are the latest institutional investors to participate in the financing of WooTrade.

Business Partners

Woo Trade has managed to attract the opinions of many companies for cooperation, But because this platform is new, the number of these companies is still few. In the latest collaboration, the WuTrade platform has partnered with 1Inch to provide more liquidity and facilitate its users.

How does the Wu network work?

Wu Network works with Kronos Research to aggregate and pool liquidity using algorithmic trading and hedging strategies. Liquidity is collected from several leading institutional and centralized trading platforms and, more recently, DeFi networks such as Ethereum, Binance Blockchain, Polygon, and Ollench. Clients connect to the network directly through the application programming interface (API) or graphical user interface (GUI) in Vox and Wi-Fi. Some users connect indirectly through DeFi platforms such as 1inch, Zero X, or Paraswap.

The zero-fee model and the favorable terms of the orders have provided an ideal method for the risk-free hedging strategy. Market makers based on other platforms, such as dYdX, can also use the Wu network for hedging investments. The volume of transactions in the Wu network has continued to grow, So in mid-September 2021, the importance of 24-hour transactions reached 2.5 billion dollars. The exponential growth of popular platforms like DVDX also played a significant role in this success.

The main features of the Wu network

The Wufai platform and its fully customizable modules for customizing the workspace have made it one of the most popular platforms for active traders. Through the Wu network, institutional clients can raise their order book to a level where they can compete with top exchanges and reduce their Bid-Ask Spread. Transaction fees on the Wu network are zero and sometimes even hostile, allowing professional and institutional traders to benefit from the most significant amount of liquidity and execution of transactions.

Some of the prominent features of Wu Network are as follows:

• Institutional Level Order Book: The advanced order matching engine ensures that the best trading prices are found for institutional clients.
• Small bid-ask spread: Wu’s deep liquidity pool and advanced order-matching engine give traders peace of mind that prices are fair.
• Zero or opposing transaction fees: The Wu network does not charge transaction fees and offers discounts to users who contribute to the platform’s liquidity.
• Fully Customizable Workspace: Wofa is a fully customizable module allowing traders to customize their workspace to suit their needs.
• Types of advanced orders: Wu network offers various progressive orders, Like large orders or the so-called IceBerg, used to find the best prices.

Wu network services and services

As a liquidity network, Wu Network provides users with a wide range of centralized financial services or CeFi (CeFi) and DeFi. This network has several centralized and decentralized exchange platforms that use the Wu network’s liquidity pool. In the following, we will examine Woo Trade, Woo X, and Wofa as the three Wu network trading platforms.

What is Woo Trade?

The WooTrade network is a non-transparent trading network that offers traders much liquidity and a small price gap. This platform is opaque in that the information of traders and transactions remains entirely private and anonymous. WooTrade does not charge its users any transaction fees and allows them to carry out heavy transactions. Also, this platform offers simple and advanced trading in two user interfaces.

WOO X platform

Vox is the flagship product of Voost Network, which provides centralized finance (CeFi) with low-fee transactions, deep liquidity, and a customized workspace. This platform allows users to customize their workspace according to their needs. Widgets, charts, and other custom components can be customized according to personal needs.

Users, professional providers such as exchanges, market makers, and institutions provide the liquidity of the Wu network. In addition, VoX has one of the most profound liquidity concentrations among active platforms in the financial industry; For this reason, users can enter and exit trading positions quickly and easily. Another point is that the deep liquidity of VoX makes the price slippage in transactions to be low or zero. The leading liquidity provider in Vox is Kronos Research, which has given double depth to the liquidity of the Vo network with its participation.

The transaction fee on the VoX platform is 0.1% as a fixed amount, which makes it one of the most cost-effective centralized exchanges in the market. Users who reach level 2 and make their trades manually can reduce the cost of placing and taking orders in their careers. Level 2 users receive periodic incentives from Vox.

Automatic WooFi Market Maker (WOOFi)

The Wofai platform is an automated market maker whose liquidity pools are located on the Binance Smart Chain (BSC) and Polygon networks and uses the Hybrid Active Market Maker Model (sPMM) for price determination. Meanwhile, most automated market makers in the digital currency market use the simple and traditional Constant Market Maker (CPMM) method.

Using the CPM method has made the price slippage in Wafa transactions minimal. Also, this method eliminates the possibility of impermanent loss for liquidity providers on the Wofai platform.

Wofai has three main functions: token exchange and earning, and staking.

• Exchange: Users can exchange tokens in Wofai liquidity pools with each other. This model uses market data oracles in the Wu network to extract order book prices from centralized exchanges such as Binance and calculate the fair trading price. Compared to the automatic market makers on Uniswap, the sPMM model is more similar to the order book of traditional exchanges.

On this platform, liquidity is in single pools, not currency pair pools, Just like in other decentralized exchanges. Wofai incentivizes liquidity providers to collections whose assets are low, thus rebalancing the collections’ holdings.

• Monetization: Users can deposit their tokens in Wofa liquidity pools and earn money. The interest rate of these deposits depends on the liquidity in the collection.
• Staking: Users can stake their tokens in pools and receive some transaction fees as rewards.

What is Woo Token (WOO)?

Woo (WOO) is the native token of the Woot network, which acts as the unifying force of DeFi and SiFi products and services provided on the Woo network. The supply ceiling of Wu’s tokens is 3 billion units, which will gradually decrease with monthly token burning until the supply ceiling reaches 50% of the current top. Vo token is a service or utility token distributed by bridges such as BNB Chain, Ethereum, Avalanche, Polygon, Solana, Arbiturm, Fantom, and NEAR is also available on several other blockchains.

The Wu token is available on several decentralized exchanges on different chains, Including Bancor, SushiSwap, Uniswap, PancakeSwap, QuickSwap, and SpookySwap. Woo Token holders can use WooX fee-free trading, commissions, staking, discounts, WOO Ventures airdrops, and governance services on the Woo Network.

Applications of Wu Token

Next, we will take a closer look at the current and future uses of the Wu token:

1. Governance: Wofai and WooX shareholders and those who hold at least 1,800 Wu units in an on-chain wallet can participate in the network’s decentralized governance by proposing and voting in the WOO DAO.

2. Staking: Users can reduce or even zero their trading fees on WuX by staking Wu tokens. Traders with a large trading volume in WooX can reduce trading limits and costs by investing in Woo Token.

3. Profit distribution: A part of the tokens received in the early stages of Wu Ventures’ investment will be distributed among the shareholders of Wu Token in WuX. Also, users can participate in the commissions of Trade-To-Earn products by investing in the Wofai platform.

4. Providing liquidity and cultivating profit: Another use of Wu Token is to provide liquidity for liquidity pools in exchanges such as SushiSwap, UniSwap, and PancakeSwap. Vo Token offers many opportunities for its holders to generate income in various blockchains.

5. Lending and Borrowing: Vo tokens can be used as collateral to receive a loan or loan to other users on DeFi platforms.

6. Social Trading: Woo investors can learn highly advanced trading strategies from the best traders in the future.

7. Wu Token Burning: Wu Network spends 50% of the platform revenue monthly to redeem and burn Wu Tokens.

Common questions

What is Woo Network?

The Wu Network is a deep liquidity network that connects traders, exchanges, institutions, and DeFi platforms. This network acts as a bridge between centralized finance (Sifai) and decentralized finance (DiFi).

Who created the Wu network?

Kronos Research launched the Wu network. Jack Tan and Mark Pimentel, two professional traders with a long history in the financial markets, are the founders of Kronos Research.

How does the Wu network work?

Wu Network is a blockchain platform that allows users to create and manage digital assets. Using a unique consensus algorithm, this platform makes it possible to agree on the state of the blockchain without the need for a central institution.

What is the WOO Trade platform?

Wu Trade is a centralized non-transparent trading platform on the Wu Network that enables institutional users to carry out heavy trades using the deep liquidity pools of the Wu Network.

What is Woo X exchange?

Vox is a centralized exchange in the Voost network that allows users to do transactions with meager fees, plenty of liquidity, and a customized workspace.

What is WOOFi?

The Wofai platform is an automated market maker on the Binance Smart Chain (BSC) blockchain and uses the Hybrid Active Market Maker Model (sPMM) to determine prices. Users can exchange different tokens with each other on the Wofa platform and earn income by providing liquidity to Wofa pools and receive profits by investing in this platform.

What are the uses of the WOO token?

With Woo Token, you can use WooX fee-free trading, commissions (trading to generate income), staking, discounts, WOO Ventures airdrops, and governance services on the Woo network.

Conclusion

Wu Network focuses on providing liquidity to blockchain users who want to avoid price slippage. The Wu network is a suitable option for those who want to combine the security of a centralized exchange and access to the tokens of DeFi platforms. This project is one of the best options for connecting SiFi and DeFi.

At the same time, as the liquidity of the Wu network grows in the DeFi and SiFi space, the use of the Wu token also expands. The combination of the experienced team and the support of the leading companies in the digital currency industry, such as Binance, and a complete set of essential products have made the Wu Network suitable for digital currencies.

This platform plans to expand its products, capabilities, and collaborations to continue its growth. Due to the growing use of digital currencies and the increasing acceptance of this industry in traditional finance, platforms such as Wu Network, a bridge between SiFi and DeFi, can have a successful future.