WOO WOO Network

Key Use Cases of WOO Network

• Liquidity Provision: WOO Network is designed to provide deep liquidity to both institutional and professional traders. It aggregates liquidity from various centralized and decentralized exchanges, including Ethereum, BNB Chain, Polygon, and Avalanche, to offer better trading conditions.

• Trading: Users can trade on WOO X, a centralized exchange, and WOOFi, a decentralized exchange, with features like zero-fee trading and quick execution. WOOFi also offers synthetic proactive market making (sPMM) for determining prices.

• Staking and Yield Farming: WOO tokens can be staked on WOO X and WOOFi to earn rewards, reduce trading fees, and participate in governance. Additionally, WOO can be used for yield farming and as collateral for lending and borrowing other crypto assets.

• Governance: Holders of at least 1,800 WOO tokens can participate in decentralized governance by creating proposals or voting in the WOO DAO.

• Cross-Platform Integration: WOO tokens are integrated into various DeFi platforms across multiple blockchains, offering diverse yield farming opportunities and enhancing liquidity.

• Institutional Services: WOO Trade provides dark pool trading for institutional clients, allowing them to place trades without revealing their strategies to the public.

Pros of WOO Network

• Deep Liquidity and Low Fees: WOO Network offers deep liquidity and minimal trading fees, making it an attractive option for institutional and professional traders. Users can enjoy zero trading fees by staking a certain amount of WOO tokens.
• Advanced Trading Tools: The platform provides advanced trading tools and services integrated across numerous blockchain networks, including a professional trading interface and customizable layouts.
• DeFi and CeFi Integration: WOO Network operates at the intersection of centralized finance (CeFi) and decentralized finance (DeFi), offering a dynamic approach to the crypto world. This includes access to both WOO X for CeFi and WOOFi for DeFi.
• Staking and Rewards: Holding WOO tokens allows users to participate in staking for rewards and to unlock exclusive benefits within the network.
• Multi-Blockchain Support: WOO Network supports multiple blockchain networks, including Ethereum, BNB Chain, Polygon, and Avalanche, providing users with a wide range of options for trading and swapping cryptocurrencies.

Cons of WOO Network

• Limited Payment Methods: The platform has a limited variety of payment methods for purchasing cryptocurrencies, primarily relying on third-party merchants that offer credit or debit card payments.
• No Fiat Withdrawal: WOO Network does not support fiat withdrawals, which can be a drawback for users looking to convert their cryptocurrencies into traditional currencies.
• Customer Support Limitations: The exchange does not offer real-time customer support, which can be inconvenient for users needing immediate assistance.
• Regulatory Oversight: WOO Network is registered in the Cayman Islands, which means its activities are not monitored by traditional financial regulators, potentially raising concerns about oversight and compliance.

Founders of WOO Network

The founders of WOO Network are Jack Tan and Mark Pimentel, who also co-founded Kronos Research, a quantitative trading firm with a significant presence in the cryptocurrency industry.

Investors in WOO Network

WOO Network has secured funding from various investors across different rounds. Here are some of the key investors:

• Series A Round: The major investors include 3AC (Three Arrows Capital), Gate Ventures, QCP Capital, and Crypto.com Capital.
• Other Funding Rounds: Investors such as Fenbushi Capital, GBV Capital, IOSG Ventures, Amber Group, Binance Labs, DragonFly Capital, HashKey Capital, Wintermute, and Chain Capital have also contributed to WOO Network's funding.
• Early VC Round: A $9 million funding round with a valuation of $150 million was also reported, though specific investors for this round are not detailed.

Key Investment Rounds

• Series A: $30 million raised in late 2021 with 3AC as the largest investor.
• Early VC: $9 million raised with a valuation of $150 million.
• Other Rounds: Total funding raised is approximately $51 million, with contributions from various venture capital firms and corporations.

Halal Status of WOO Network

• Halal Status: No
• Reason: The WOO Network token is used as collateral for lending activities, which may be considered non-compliant with Shariah principles. Despite some sources suggesting it might be halal, the majority of reliable sources indicate it as haram due to its involvement in lending practices.