What is WOO coin? What can WOO coins do? How to store WOO coins?

As the native cryptocurrency of the WOO Network, WOO coins unlock discounted trading fees, staking rewards, governance rights, and functionality within the DEX ecosystem.

Nov 04, 2024 at 04:09 am

What is WOO coin?

WOO coin is the native cryptocurrency of the WOO Network, a decentralized exchange (DEX) that offers fast, secure, and low-cost trading for a wide range of digital assets. WOO coin is used to power the WOO Network ecosystem and provides holders with various benefits, including:

1. Reduced trading fees: WOO coin holders receive discounts on trading fees on the WOO Network. The more WOO coins a user holds, the greater the discount they receive.
2. Staking rewards: WOO coin holders can stake their tokens to earn rewards. Staking contributes to the security of the network and helps to validate transactions.
3. Governance rights: WOO coin holders have voting rights on the WOO Network. They can participate in governance decisions that affect the future development of the platform.

What can WOO coins do?

WOO coins can be used for:

1. Trading on the WOO Network: WOO coins can be used to trade spot, futures, and perpetual contracts on the WOO Network.
2. Providing liquidity: WOO coin holders can provide liquidity to the WOO Network. This helps to increase the liquidity of the market and earns rewards for providers.
3. Staking: WOO coins can be staked to earn rewards and contribute to the security of the network.
4. Governance: WOO coin holders can participate in governance decisions that affect the future development of the platform.

How to store WOO coins?

WOO coins can be stored in a variety of wallets, including:

1. Hardware wallets: Ledger Nano X, Trezor Model T
2. Software wallets: MetaMask, Trust Wallet
3. Exchange wallets: Binance, KuCoin, FTX