• English

Q&A session with WOO | Transcript

Published 29 July 2022
Q&A session with WOO | Transcript


Q: What is the history of the WOO project? What was your motivation for the WOO token creation, and how did you use that motivation to eventually succeed on the project?

A: The WOO project was created by professional traders who are very familiar with the problems in the market. They have always said that they aim to trade with low fees and deep liquidity. At that time, they had the idea of ​​their own trading network. Instead of connecting to each individual exchange, they connected the exchanges to their platform, which is how WOO, the centralized liquidity aggregator, was born. And the motivation has always been to unite the market and provide traders with the best conditions for trading. Large funds and trading institutions quickly focused attention on the token.

Q: Since we know that there are many platforms in today’s market that provide liquidity and perform well, could you elaborate on the most important benefits of your project that you think will make the WOO Network team a market leader?

A: In simple terms, it can be described as follows: when you trade on WOO, you trade on ten global exchanges. If you are a staker of WOO tokens, you do it fee-free! This model works since WOO Network acts as a broker for other exchanges, they receive more orders per book, and we earn on this stream. The advantage here is that this is not a competitive business, but collaboration as we are all doing one big thing, improving the state of the market and trying to always cooperate with other projects. Win-win.

Q: I read about the products of your project on your site, and it’s hard for me to understand them. Can you explain what WOO X, Wootrade, and WOOFI are?

A: The WOO Network currently consists of four main parts.

1) “Liquidity as a service” for the integration of the order book with other trading platforms, wallets, and the WhiteBIT team.

2) WOO X is a centralized exchange that supports WOO staking for passive income and discounts. It is slightly different from the exchanges we are familiar with because now it suits more knowledgeable traders through an interface that is close to scalping terminals. The platform is new, and we expect many nice features soon.

3) WOOFi is a decentralized swap, where you can quickly and conveniently exchange a small number of assets without identity verification. Its main feature is cross-chain. You can exchange, for example, USDC on the Ethereum network for WOO with, say, Avalanche in one click. There is also WOO staking and pools for farming other coins;

4) WOO DEX is the order book DEX on the NEAR blockchain. It’s still a testnet.

Therefore, users can choose the platform that best suits their strategy.

Q: How can one become a WOO DAO member? What rights and privileges can WOO owners use for project management?

A: We see WOO DAO as a logical extension of the company. The DAO wallet contains 300 million WOO, which participants can direct to supply liquidity to other DeFi platforms for profit, offers and rewards in the ecosystem, the development of new products for WOO, even meetups and other important needs of the community. The most active participants earn tokens through grants and bounties. Anyone can become a member of the DAO on our discord. To vote for proposals, you need to hold 1800 WOO on WOO X or WOOFi staking.

Q: Do you have tutorial videos to learn more about WOO X, maybe a YouTube channel, or something like that? Can you share it with us on social media, or website, so one can learn more about WOO X?

A: Unfortunately, there are no videos yet, but the DAO has a grant for their creation since we are looking for talents who will be interested in doing this through Dework. The most detailed information can be found in the database. And it is best to follow the latest news on our Telegram channel or in the chat.

Q: You have already created many innovative products. What will happen next, and what interesting new products will appear? Can you describe your roadmap?

A: Now, we are moving towards simplifying the WOO X interface, providing more fiat gateways, including hryvnia (UAH), automated trading strategies, social trading, and interest groups. We will also develop a cross-chain in DeFi and DAO. Moreover, we want to create interesting and useful educational materials about decentralization.

Q: Can you tell us more about the WOO Network Ecosystem Partner Program and how these partners can contribute to building the WOO Ecosystem? What partners is WOO Network looking for?

A: We are looking for people interested in cryptocurrency, regardless of age or level of knowledge. We have a friendly international community. We always discuss new trends and initiatives in the market and are searching for people who are willing to engage in community development, translations, hold meetings and promotions. They can even arrange a partnership with another project, as well as, in general, help others learn about WOO. All program participants earn our tokens and are the first to receive important insights into the project and the market. They have the opportunity to join the team in the future. One can find the details about it in our Telegram.

Q: What are the global expansion plans? Are you focused on the current market, or are you focused on development, customer and user acquisition and partnerships?

A: It’s hard to say. Our product will always be a priority for us. I can add to this the importance of the lawyersʼ work. Their task is to legally open our products in key markets, even the most complex ones, to competently perform fiat integrations and simplify user verification. With users, partnerships, and marketing, the DAO helps a lot, we delegate important issues and donʼt concentrate everything in the hands of one team. We will be glad to see you in DAO!