WOO was founded by a group of Wall Street veterans and Carnegie Mellon University alumnus. Co-founder Jack Tan now leads WOO X, while other products, including WOOFi, are pursuing a more decentralized governance structure.

WOO launched on October 30, 2020, with 3 billion WOO tokens created at genesis. Since then, around 24% of the supply has been burned, leaving a new max supply of 2.23 billion. Of these, around 81% have entered circulation, with ~8% vesting to team, investors, and advisors, and ~11% reserved for future team and advisors. More information is available on the [WOO token page](https://woo.org/token).

The WOO Token plays a pivotal role in the WOO ecosystem, and is utilized for staking, fee discounts, and other benefits. WOO Ecosystem products connect traders, exchanges, and institutions with access to the best-in-class liquidity and trading execution at lower or zero cost. [WOO X](https://woo.org/) is a high performance centralized trading platform, delivering superior liquidity, execution and advanced trading tools on hundreds of spot and perpetual futures instruments. [WOOFi](https://fi.woo.org/), a decentralized application offering swaps, perps, WOO staking, and yield-generating pools, positions as being “the easiest way to DeFi.” WOOFi is deployed on 10+ mainstream networks including Arbitrum, Avalanche, Optimism, zkSync, and more. WOOFi is regularly a Top 10 DEX by volume, making WOO one of the only tokens that has strong adoption and utility in both CeFi and DeFi. The WOO mission is to provide the best liquidity on the best terms. Products compete not just on price execution but also on integrity, user experience, innovative tools, and global opportunities.