What is Woo Network Token? How To Buy WOO Token In India?

What is Woo Network Token?

The crypto space is comprised of centralized platforms, decentralized platforms, traders, institutions, etc. For the smooth functioning of the industry, a fine collaboration is pretty much required. Woo Network is a deep liquidity network that connects traders, exchanges, other institutions, and DeFi platforms offering the best liquidity and trading execution at a lower cost or zero cost. 

It offers both centralized and decentralized platforms with deep liquidity with low-cost and customizable workspaces. WOOFi, the DEX offers a similar marketplace as the traditional exchange’s order book called the Synthetic Proactive Market Model. The users can swap, earn, and stake WOO which is the native token of the platform. 

Who Are the Founders of Woo Network?

Woo Network was founded by a team comprising Kronos Research, with co-founders Jack Tan and Mark Pimentel. Kronos Research which was founded in 2018 is a crypto quantitative platform that specializes in arbitrage and high-frequency trading (HFT). Both Jack and Mark started Woo Network, primarily called Wootrade in 2019. 

The team prior to Woo Network has built several products and services including CeFi-DeFi offerings, the intersection of retail institutions, etc. the network has also attracted top giants like Three Arrows Capital, PSP Soteria Ventures, Gate Ventures, QCP Capital, Crypto.com, etc raising $30 million in series A funding. 

How Does Woo Network Work?

Woo Network’s services include the platform’s centralized exchange (CEX), WOO X, DeFi-related offerings under WOOFi the DEX, and Wootrade which also acts as a liquidity pool for institutional clients. 

Centralized Products

WOO X is the CeFi product that was launched in August 2021 and is the first exchange to use Payment for Order Flow (PFOF) which is a compensation model that rewards the brokers who forward orders to various other market participants to execute the trade. 

Wootrade is the network’s dark pool trading platform for institutional clients wherein they can place trades without revealing their strategy to the public. It aims to offer above-average liquidity and tighter spreads for exchanges, wallets, OTC desks, and large traders. 

Decentralized Products

WOOFI Swap, the Decentralized exchange manages the transaction using the Synthetic Proactive Market Maker algorithm model. The platform avoids intermediatory control while operating similarly to centralized exchanges. It is designed to stimulate the price, spread, and depth of an order book on CEX with lower fees. 

What Makes Woo Network Unique-Uses Cases?

• It offers the best available liquidity and execution to the traders with zero-trading cost and a fully feasible & adjustable workplace
• The institutional clients have been benefiting the most from WOO’s powerful order matching system, which provides the best rates for their transactions
• The traders get benefitted as the WOO network does not impose any trading fees and rewards customers who contribute liquidity to the platform 
• The workplace is completely configurable which enables the traders to customize their trading experience to their requirements.

Woo Network Price Analysis

Source: Tradingview

• The WOO price was trading within a descending triangle, but the recent drop in the last week slashed the prices lower
• However, the price rebounded and reached the interim highs above $0.23 which attracted the bearish action
• The price which has now began to retrace, is expected to test the lower support around $0.19 which might be quiet decisive
• A rebound may trigger an upswing to $0.21 or a drop may slash the price to the major support at $0.17

How to Buy Woo Network in India?

If you want to buy Woo Network in India, just follow the below-mentioned steps,

• Download the CoinDCX App on your Smartphone 
• Enter the details required for registration 
• Complete KYC
• After verification, fund your wallet and buy CFX