WOO Network is a deep liquidity network connecting traders, exchanges, institutions and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at lower to zero cost. WOO Network’s products help to solve the pain points of shallow liquidity, high fees, and poor trading environments in the cryptocurrency market across CeFi and DeFi by offering deeper trading depth.

Both institutional clients (such as exchanges and trading institutions) and retail traders can access the network’s liquidity at lower or zero fees through:

  • WOO X, a trading platform featuring first-to-market zero-fee trading, deep liquidity and fully customizable workspaces to provide the ultimate trading experience for professional and institutional traders. WOO X offers the most competitive fee structure in the industry across maker and taker orders, and traders can unlock full zero maker and taker fees when staking the required amount of WOO tokens on WOO X.
  • Wootrade, a gateway for institutional clients such as exchanges to access WOO Network’s liquidity, upgrading their order books to a depth greater than top exchanges and tightening their bid/ask spread.

What makes WOO Network’s set of products unique?

Besides offering an exchange, WOO Network’s products are positioned as a trading infrastructure enabler for various participants in the cryptocurrency market (exchanges, trading institutions, OTC desks, professional traders and retail traders), providing access to deep liquidity at lower to zero cost.

WOO Network collaborates with other exchanges via Wootrade to deepen their platform’s liquidity and tighten their order book spreads. Presently, exchanges including Gate.io, KuCoin, Ascendex, Hoo and MEXC have connected to WOO Network’s liquidity and are experiencing immense fee savings without having to rely heavily on internal market-making teams or expensive market makers to bootstrap liquidity for their order books.

Hoo.com is a prominent example of how Wootrade helps to improve the liquidity standard of exchanges. Immediately upon successful integration in Q1 2020, the difference was dramatic. Till today, the liquidity difference that WOO Network provides to Hoo is apparent across 19 major pairs like BTC, ETH, LTC, XRP and DOGE — allowing Hoo to increase its liquidity standard to a level comparable to top exchanges by offering hundreds of thousands of USD worth of orders with a tight bid/ask spread.

What is the WOO token? What is its function?

The WOO token is a utility token deeply embedded within WOO Network’s CeFi and DeFi products and services, with various staking and discount utilities. Manual non-API traders can reduce their maker and taker fees down to zero with 1,800 WOO tokens staked on WOO X.

Currently, 50% of revenue generated across all of WOO Network’s products contribute to the monthly deflationary buyback and burn program.

Who is the team behind WOO Network?

WOO Network was founded in 2019 by Kronos Research, a multi-strategy trading firm that specializes in market making, arbitrage, CTA and high-frequency trading (HFT), averaging around 5–10 billion USD of daily trading volume on global cryptocurrency exchanges.

WOO Network was founded by co-CEOs Jack Tan and Mark Pimentel.

Mark Pimentel co-founded Kronos Research and acts as co-CEO. After completing his bachelor’s and master’s in Computer Engineering at Carnegie Mellon University, Mark started his career in Citadel Investment Group’s High Frequency Trading unit in 2006, which made $892M in 2007 and $1.15B in 2008. Next, Mark went on to lead Knight Capital’s electronic market development group, now part of Virtu, where Mark’s team operated the largest dark pool in the United States and Europe at the time.

Jack Tan is the co-founder and co-CEO of Kronos Research, a multi-strategy trading firm that specializes in market making, arbitrage, CTA and high-frequency trading (HFT), averaging around $5-10 billion of daily trading volume on global cryptocurrency exchanges. The firm is over 100 strong across 12 cities and regularly trades $5-10b daily across various global cryptocurrency exchanges. Jack started trading equities at age 14 and worked at BNP Paribas and Deutsche Bank for more than a decade after graduating from Carnegie Mellon University.

WOO Network resources and sites