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 or zero cost. WOO Token is used in the network’s CeFi and DeFi products for staking and fee discounts.
Presently, a diverse set of products and services interfacing retail, institutions, CeFi, and DeFi, have been built: _ [WOO X](https://x.woo.org/en/trade) is a zero-fee trading platform providing professional and institutional traders with the best-in-class liquidity and execution. It features fully customizable modules for workspace customization. _ [WOOFi](https://fi.woo.org/) – a decentralized exchange deployed across select DeFi protocols and applications to provide users with enhanced on-chain liquidity and execution. Currently offering swaps, WOO staking and yield-generating pools on BNB Chain and Avalanche. \* WOO Network offers liquidity as a service for institutional clients such as exchanges to upgrade their orderbooks to a depth deeper than top exchanges and tighten their bid/ask spread.
How Many WOO Tokens Are There in Circulation?
WOO launched on October 30, 2020, with 3 billion WOO tokens created at genesis. 10% of the tokens were sold in private and public sales, 20% are allocated to the team and 5% are for advisors.
50% of tokens are earmarked to support the WOO ecosystem, with the following purposes: _ 25% WOO ecosystem rewards, allocated to incentivize network usage _ 10% Insurance fund, to back user assets on the network _ 10% Ecosystem partners, to reward partners for supporting activities _ 5% WOO Ventures, to invest in early-stage projects with benefits going to token holders
300 million WOO tokens are allocated for the WOO DAO treasury, and are now in an on-chain multi-sig wallet.
Who Are the Founders of WOO Network?
WOO Network was incubated in 2019 by [Kronos Research](https://kronosresearch.com/), 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.