On 12th October, we had a wonderful Live AMA with Audrey Yang & Ran COO of Wootrade. Here’s our recap.
Intro
Certainly, so I am Ran. I have over 14 years of experience in global asset management. I have seeded top quantitative funds since 2014, but I am now the proud COO of Wootrade. The other co-founders are Jack and Mark. We met when we were students at Carnegie Mellon University.
You can find more about them on our webpage: https://woo.network/team
Jack and Mark also co-founded Kronos research, Kronos is a leading quantitative research firm, that incubated Wootrade. Long story short about why they incubated Wootrade: they were getting fed up with the current trading platforms out there and having to make multiple accounts just to get more liquidity or trade tokens that aren’t listed widely
“To describe it as easily as possible, and skip all the crypto jargon. It’s like a large liquidity pool that serves trading platforms and large traders. Exchanges link to our platform for the deepest liquidity there is. This will instantly boost their liquidity, which enables them to attract new users and retain existing ones. Not only do we aggregate liquidity, but we also have internal liquidity providers (market makers) and make use of deep pools! That’s how we can offer this game-changing liquidity. Big active traders on our platform can then trade with the lowest spread, against zero trade fees. In the future, we will also serve retail traders. The key thing to remember is that Wootrade is not only about volume. It’s also about execution quality”
AMA begin
Q1: Wootrade doesn’t charge any trading fees on its platform,
Then where does Wootrade gets its funds and revenue?
How does Wootrade manage and distribute those revenues for its platform developments?
It sounds weird we can offer zero fees on trading. However, we do have a sustainable business model. When users generate revenue from staking into listed products, we could take an asset management fee on profits. On the trading side, we do charge margin fees like all platforms even though there are no trading commissions if tokens are staked. We also get rebates from market-makers such as Kronos Research. Wootrade could route its orders to the big exchanges OR could route to the alpha-based true market-makers, it really depends on who will give Wootrade the best price but typically market-makers offer better prices than exchanges. In this way, Wootrade earns from the market-makers and uses those revenues to incentivize other flow providers to route orders here and eventually take trading fees to zero globally. We may also have a flat monthly service fee for a premium app but those details aren’t fully hashed out yet.
Q2: What is the actual uniqueness of your Project ? what do you think that what quality will give it a good stand to this project in the market?
There is no other project out there that can provide what we are already providing. You have some projects like Orion Protocol that merely aggregate liquidity, but in terms of volume, we will beat them anytime. We aggregate liquidity, but also boost liquidity with our internal liquidity providers and dark pools. Most importantly, we understand it’s not only about volume but also execution quality.
Q3: What is your plans in place for global expansion, is #WOO focusing on the only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this
We do have global expansion plans. We’re already well-established in the Chinese market, also in Vietnam, we’re gaining traction. But we also EU, SK, Japan markets on our site. Plus of course Malaysia! Working hard on new partnerships of course. Already have many, only a few we can disclose at the moment.
Q4: What is your motivation for making WOO tokens, and what will we see in the future? How can token holders benefit from WOO tokens?
Excellent! So why should people hold WOO tokens? Please read our webpage for our tokenomics. The page also contains our litepaper. https://woo.network/token
You will see both our B2B clients as retail have plenty of reasons to stake WOO :)
Q5: What do you think the role of community in WooTrade ecosystem? What’re your plans to keep build positive community and what do you expect support from Shin Chan community?
This may sound corny, but we really do recognize the importance of our community. Maybe because we already have accomplished so much, that we can fully focus on community building. We need all the input we can get. Every person in this world knows something we don’t know. That’s why we want to work with partners for the long-term (please check our page https://medium.com/wootrade/wootrades-ecosystem-partner-program-844a1f805f1c). Please read the page and see if you can help us :) also our TG members, we want to reward those who can help us improve our content. Perhaps there’s an ugly type in a new news article? alert us and we will reward. Still need to come with fixed rewards for this though, but we’re working on it. How can the Shin Chan community help? You already did by tuning in tonight and asking excellent questions. But please, do follow us on TG (https://t.me/wootrade) and Twitter https://twitter.com/wootraderS
and spread the word about how Wootrade will disrupt the markets and empower the individual with ZERO trading fees, and the lowest spreads out there!
Q6: Which project would Wootrade regard as its competitors in the industry? Alternatively, if there ain’t any, what major stumbling blocks do you need to overcome in other to attract more market share?
No competitor can match our project at the moment. So we’re in a comfortable position. Stumbling blocks: retailers still need to be educated. But on B2B side no stumbling blocks, there are 100s of exchanges facing with low volumes, they are incredibly eager to link to our platform. It will boost its liquidity instantly.
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