Wootrade AMA Recap
CryptoDiffer team
Hello, everyone!😁
We are glad to meet here
Jack Tan (Co-Founder at WooTrade)
Co-Founder at Wootrade, Jack Tan
Hello
My pleasure!
CryptoDiffer team
Q1. Can you introduce yourself to our community ?
Co-Founder at Wootrade, Jack Tan
Sure, first thing everyone should know is that we are a team that cares obsessively about user experience
Every product and service we make comes from serving the most important needs of our communities while delivering solutions with ultimate dedication to creating truly enjoyable interactions
As the challenges of revolutionizing trading and investing requires deep financial and technology experience, our team is made up of talented individuals with much relevant experience
My co-founder Mark was at Citadel Securities when his team earned 2Bn usd back in 2008 and 2009. He later when onto build and run one of the largest dark pools in the US and Europe
I on the other hand started trading tech stocks at age 14 and went on to have a career in sales and trading on wall street while buying and selling domain names as a hobby.
Our CTO has built options a variety of highly scalable trading systems from options to futures
I guess we all left traditional finance as innovation was much slower than in the blockchain space and to us, the future of money will live on blockchain. Instead of passively waiting for this change in a bank, why not lead it with a passionate team?
https://woo.network/team
can check the initial core team profile there. we are much bigger now but we have not put the full team profiles up
as for location, we are based in Taipei and Shanghai mostly
CryptoDiffer team
Q2: Can you briefly tell us what is WooTrade in 3-5 sentences?
Co-Founder at Wootrade, Jack Tan
Yeah so why should people care about wootrade? If you care about having zero trading fees and open access to the world’s best trading teams, these would be great reasons 😇
Wootrade currently is a large liquidity pool that serves trading platforms (exchanges, dexs, wallets) and professional traders
Exchanges link to our platform to instantly boost their liquidity, which enables them to attract new demanding users and retain existing ones. we don’t just aggregate liquidity! we provide better than the combined orderbooks and provide it at zero fee while always often achieving superior execution prices for clients
More active traders and our institutional clients on our platform can then trade with the lowest spread, against zero trade fees.
We are currently aimed at B2B clients (exchanges, OTC desks, institutions, professional trading teams). However, in the nearby future we will release a more retail-friendly platform
CryptoDiffer team
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
Co-Founder at Wootrade, Jack Tan
After a year and a half, we’ve got an excellent product that multiple exchanges depend on and volume is growing exponentially
We’ve also recently closed a round of financing and you can see this Cointelegraph article covering us: https://cointelegraph.com/news/institutional-crypto-platform-wootrade-raises-10m-in-investment-round
At this moment we’re focused on our IEO with a few partner exchanges, which is scheduled to happen towards the end of the month
And in the next moment after that, we will launch a revolutionary trading platform where active & professional traders will LOVE
Next year we hope to launch more retail focused products and services which will be something that the crypto industry has not witnessed before but will have a high chance of mass adoption and massively better user experience/design
Btw, our timeline can be found in our litepaper on our website: https://woo.network/token
All of our announcements will be made for IEO, product launches, staking programs will be made in our telegram group: T.me/wootrade
CryptoDiffer team
Awesome, a lot of updates to come out!
Thank you for great answers!
I think it is time to start community questions round!
Cryptodiffer Community
What unique exchange features do you think can help both experienced traders and newbies be “better” at crypto trading?
Co-Founder at Wootrade, Jack Tan
We will be launching a demo on the 25th of this month in Shanghai so many of the features will be on show. can’t tell you all the features which set it apart but for a few of the main points are:
1) ZERO Fee for token stakers so you keep ALL your profits
2) Superior liquidity and execution quality compared to the largest exchanges
3) Build your own trading environment – completely flexible and and lightweight interface
4) Algos to help you trade better
5) Make telegram bots directly in the trading platform
6) Obsessive focus on improving the user experience by allowing live feedback with screenshots to the team
Cryptodiffer Community
In terms of becoming a successful project or company, what is the biggest challenge you currently face?
Co-Founder at Wootrade, Jack Tan
We face a similar set of challenges that all startups and to some extent all teams face. finding and hiring the right talent, setting and scaling the right culture and innovating to find product market fit then disrupt it again and again
Cryptodiffer Community
Wootrade features advanced alpha-based market-making abilities, is wootrade for use by exchanges and big traders with huge volume only ? How can the retail trader benefit from investing or holding woo tokens ?
Co-Founder at Wootrade, Jack Tan
Wootrade definitely isn’t just for exchanges and big traders only but this is initial market for us because these are the people we know best and can understand clearly what they need.
As for volume requirements, we don’t incentivize anyone to trade more than they naturally want because we do NOT compete on volume. Different from others, we view liquidity > volume. Users should care much more about execution quality which is tied to liquidity and not care about volume as volume doesn’t help traders at all.
Users will also be able to participate in our staking programs, IEO opportunities and governance functions by fully utilizing our tokens. Details soon!
Co-Founder at Wootrade, Jack Tan
Great questions! Pleasure to be here with you!
For those interested in WooTrade do not hesitate to visit T.me/wootrade
Cryptodiffer TEAM
Awesome!
Thank you. Appreciate your time, great answers.
Thank you everyone who took part today.
