What is WOO coin? Introduction to the issue price, total volume and white paper of WOO coin

WOO Coin ($WOO), introduced in 2020, serves as the utility token for WOO Network, a decentralized exchange platform powering fast and secure digital asset trading.

Nov 07, 2024 at 06:14 pm

What is WOO Coin?

WOO Coin (WOO) is a native utility token of the WOO Network, a decentralized exchange platform for digital assets. It plays a crucial role in various aspects of the network's operations.

Issue Price and Total Volume

When WOO Coin was introduced in September 2020, its initial issue price was set at $0.04 per token. The total issuance limit is capped at 3 billion WOO coins. As of July 2023, the circulating supply is approximately 1.8 billion tokens.

White Paper

The WOO Network white paper, released in December 2019, outlines the technical architecture, tokenomics, and vision for the project. Key highlights of the white paper include:

1. Network Architecture:

WOO Network employs a decentralized order book model, enabling fast and secure trading of digital assets.
It utilizes a network of professional market makers to provide liquidity and competitive pricing.

2. Tokenomics:

WOO Coin is used as a network fee for transactions, liquidity provision incentives, and network governance.
Holders of WOO Coin can earn staking rewards for participating in network security and stability.

3. Utility:

WOO Coin is required to access premium features on the WOO Network, such as block traders and fund management tools.
By holding WOO Coin, users can reduce trading fees and earn additional rewards.

4. Governance:

WOO Coin holders can participate in network governance through a decentralized autonomous organization (DAO).
They have the right to vote on proposals that shape the future of the WOO Network.

Conclusion

WOO Coin is the backbone of the WOO Network, enabling a wide range of functionalities within the decentralized exchange ecosystem. Its stable issue price, limited supply, and utility-driven tokenomics make it an essential component of the network's success. The white paper provides a comprehensive overview of WOO Network's architecture, tokenomics, and utility.

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