I have been a WOO token holder for a long time. As an independent structure, the exchange began its work in 2019. WOO Network’s regular partners are Binance, MEXC, Gate.io, AscendEx, etc. The exchange holds trading tournaments with cash prizes, offers earnings on staking and a referral program.
WOO X Exchange
WOO X is a centralized crypto exchange with spot and futures markets for active traders and institutional clients. The platform aggregates liquidity from other centralized and decentralized trading platforms.
WOO X supports 100 spot and 40 futures pairs. KYC is required for unlimited trading and withdrawals.
The platform is one of the key products of the WOO Network ecosystem. The network was launched by quantitative trading company Kronos Research in 2019. The daily trading volume of the market maker is $5-10 billion.
In addition to WOO X, the WOO Network ecosystem includes the decentralized exchange WOOFi, infrastructure for institutional clients and WOO DAO.
WOO Token
WOO is a native token of the WOO Network ecosystem for staking, reducing trading fees, and paying rewards through the Trade-to-Earn system. At the time of publication, the price of 1 WOO is $0.1956.
The issue of the token is 3 billion WOO. The project burns part of the tokens every month. The goal is 1.5 billion WOO in circulation. The network has already burned over 16 million WOOs.
WOO Staking
Not so long ago, WOO X introduced the $WOO native token staking feature. The WOO token has received additional utility through staking, and exchange users have several advantages:
- WOO token staking rewards. The current APY is 4.83%.
- Commission discounts for spot, margin and futures trading.
- The ability to withdraw a deposit from the exchange for free.
The referral program provides a percentage of the staked funds of referrals. At the same time, staking on WOO X can be considered as a good tool to reduce traders’ costs and earn money. In addition, the $WOO token itself has been demonstrating positive price dynamics over the past 3 months.
Conditions and restrictions:
- You can withdraw tokens from staking 7 days after blocking. If you want to pick up the steak earlier, then you need to pay a 5% penalty.
- To get not only APY, but also a bonus in the form of a zero commission, you need to stake at least $1800 WOO, which is ~$350 at the current rate.
- Referral rewards are only given if the referrals have staked manually, without using the API.
WOO staking has a base annual return of 4.8%. The final profitability depends on the activity of the trader on the platform and increases as he completes various challenges.
Prize pool for WOO staking and trading
To encourage staking, WOO X adds a $6,800 WOO raffle to the standard benefits of the service. It will last from 2 to 9 March.
- 100 random users will receive 50 $WOO. To qualify for them, you need:
or stake 50 WOO tokens;
or make a trading volume of $500. - 1 random user will receive 1800 $WOO. The probability of getting a super prize does not depend on the staked amount.
The conditions for participation in the draw are as follows:
- You need to create an account on the exchange by clicking on this link and pass KYC to get access to the staking service.
- Registered users can also participate if they created an account using the referral link from our previous posts.
- Then stake on the site from $50 WOO or make a trading volume of $500.
Participants who meet these requirements automatically enter the drawing and can claim one of the prizes. You do not need to fill out a form or otherwise confirm participation.
Important: user activity is tracked automatically, linked to a referral link, so only those who registered an account using this link get into the draw. If you have created an account without a referral code, you will not be able to claim the prize pool.
Conclusion
WOO X is a crypto exchange that uses aggregated liquidity for spot and futures trading. WOO X does not disclose the list of partner exchanges that provide liquidity.
By staking the WOO token, users can reduce trading fees to zero and receive rebates for trades. The site has a fully customizable workspace interface.
Disclaimer: This news is not investment advice. Assess the risks yourself before making any investment decisions.
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