The more assets available to buy and sell on a market, the higher its liquidity. Traders prefer highly liquid markets because the spread between the ask price and the bid price is minimal.
Alongside the trading platform WOO X, we explain how traders can access highly liquid markets, how to avoid trading fees, and why to personalise their trading workspace.
The role of WOO X in the WOO Network
WOO X is a centralized cryptocurrency exchange with spot and futures markets for active traders and institutional clients. The platform aggregates liquidity from other centralised and decentralised trading venues.
WOO X supports 100 spot pairs and 40 futures pairs. For unlimited trading and withdrawals, KYC is required.
The platform is one of the key products of the WOO Network ecosystem. The network was launched by quantitative trading firm 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 decentralised exchange WOOFi, infrastructure for institutional clients, and <a class="tracking_link" href="https://learn.woo.org/woo-dao/governance-model" _blank"="" rel="noopener" target="_blank" style="font-weight: inherit; font-size: inherit; line-height: 25.2px; letter-spacing: 0.02em; color: rgb(23, 24, 31); transition: background-size 0.2s linear 0s, color 0.2s ease-in-out 0s; background: none !important;">WOO DAO.
WOO — the native token of the WOO Network ecosystem for staking, reducing trading fees, and paying rewards under the Trade-to-Earn system. At the time of publication, the price of 1 WOO is $0.2133.
Token supply is 3 billion WOO. The project burns a portion of tokens monthly. The goal is 1.5 billion WOO in circulation. The network has already burnt more than 16 million WOO.
How to trade with zero commissions and earn income from every trade on WOO X
The WOO X trading platform charges 0.03% for spot and futures trading on the platform. API trading fees are 0.04%. Traders who hold at least 1,800 WOO in staking pay zero commissions.
In addition, WOO X launched the Trade-to-Earn rebates system for takers who trade manually on the spot market and hold at least 25,000 WOO in staking. The platform accrues them for each trade and pays to the trader’s account daily in WOO tokens along with the main staking reward. WOO X does not pay rebates for futures trades.
How much can you earn from WOO staking
The baseline annual yield from staking WOO is 4.8%. The final yield depends on a trader’s activity on the platform and increases as they complete various challenges.
In addition, native-token holders can earn yield farming on SushiSwap, Uniswap, and PancakeSwap, and use WOO as collateral for crypto loans.
WOO X — a builder exchange for personalised trading
The platform allows traders to customise the trading interface to suit individual tasks. All blocks and widgets on the platform can be rearranged, turned on, turned off and configured according to their needs.
Traders can form several workspaces for different trading conditions.
In addition, the platform allows creating up to 10 sub-accounts and trading via API.
Conclusions
WOO X — a crypto exchange that uses aggregated liquidity for spot and futures trading. WOO X does not disclose the list of liquidity-providing partner exchanges.
Through staking the WOO token, users can reduce trading fees to zero and receive rebates on trades. The platform offers a fully customisable workspace.
Subscribe to ForkLog news on Telegram: ForkLog Feed — the full news feed, ForkLog — the most important news, infographics and opinions.
