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WOO Network (WOO) Token Review

WOO is the native token of the WOO ecosystem, an Ethereum-powered network that offers enhanced market liquidity and affordable trading solutions for traders, exchanges, and DeFi platforms.

About WOO Network (WOO)

In 2019, the WOO network was introduced to address high fees and low liquidity challenges in crypto exchanges. It provided liquidity services for trading platforms to tighten bid/ask spreads and enhance order book depth. Retail traders got access to the same benefits through its products -  WOOFi and WOO X. In the same year, the WOO network went public, introducing features that bridged the gap between decentralized and centralized finance. It offered access to deep market liquidity with faster trade execution at zero or low fees and introduced dark pool trading, allowing institutions, investors, and high-volume traders to operate discreetly.

In 2020, WOO Network released their native token WOO. Coin holders use it for paying transaction fees, voting on project revenue-sharing, and buying bandwidth or data on the WOO Network's decentralized social platform for unrestricted internet access.

The WOO Network (WOO) Token Use Cases

1. Ecosystem interaction - WOO token holders can easily access exclusive benefits, discounts, rebates, and investment opportunities within the network.
2. Governance - WOO holders can help develop the network by voting on structures, revenue sharing, listings, and staking mechanisms.
3. Borrowing and Lending - Using the WOO token through yield farming or as collateral, holders can access DeFi services and apps within the network. It enables users to engage in lending on several protocols, such as KINE Finance and Unit Protocol.
4. Stake to earn rewards - Staking WOO on WOOFi allows users to earn returns (in WOO or USDC) from swap and earn fees. The network has no minimum staking amount and offers a variable APY based on trading frequency, staking duration, and overall participation, rather than fixed yields. Also, stakers receive 80% of WOOFi fee revenue weekly.

Economic Value

The WOO token has a circulating supply of over 1.81 billion out of a total supply of 2.23 billion, with a live market cap of $743,565,895. In a monthly buyback and burn initiative, 50% of income from the network's services is used to purchase and burn WOO tokens from the secondary market, effectively reducing the circulating supply. Initially capped at 3 billion tokens, the maximum token supply was reduced by 25% to 2.2 billion through a series of token burns. This process will continue until half of the maximum supply is permanently removed from circulation.

The current annual supply inflation rate for WOO tokens is 51.57%, leading to an increase of over 616 million coins in the past year. The initial distribution of WOO tokens included allocations as follows: Private and Public Sales (10%), Team (20%), Advisors (5%), WOO Ecosystem Rewards (25%), Insurance Fund (10%), Ecosystem Partners (10%), WOO Ventures (5%), Seed (10%), and Liquidity Management (5%).

WOO token holders can stake their coins on WOOFi to earn rewards, participate in platform development through voting on structures and revenue sharing and engage in the versatile DeFi and NFT ecosystem. WOO was priced at $0.01 per token at WOO Network’s launch. The current coin price is $0.41 and, with its value influenced by market dynamics and perception.

Challenges

WOO DAO was created to improve governance, community engagement, and DeFi presence in regional markets. But, blurred lines of responsibilities emerged as the network's operations stayed centralized. It could impact the coin's long-term viability, which depends on the platform's performance and success.