Token economics based around the WOO token
The WOO Network native token, WOO, has a cap set at 3,000,000,000 tokens. The WOO token achieves a deflationary tokenomics model through the buyback and burn program. Each month, 50% of Wootrade's income will be used to buy back WOO on the open market. While the buyback is performed on an ongoing basis, the token burn happens on the 10th of each month and is published on our Twitter and Medium. Check the latest circulating and the total supply of WOO at Coingecko.
  • 10% of the tokens were sold in private and public sales. As of X, these tokens have been fully vested and distributed. Another 10% were sold to seed and equity round investors, these tokens are vesting linearly over 1.5 years between April 2021 and October 2022.
  • 20% are allocated to the Wootrade team and 5% are for advisors, both of which are vesting linearly for 3.5 years, with a portion already allocated for vesting and a large share held in reserve for future hires.
  • 50% of tokens are earmarked to support the WOO ecosystem, with the following purposes:
    • 25% WOO ecosystem rewards, allocated to incentivize network usage
    • 10% Insurance fund, to back user assets on the network
    • 10% Ecosystem partners, to reward partners for supporting activities
    • Each month, there is a burn of the Ecosystem Reward pool. The quantity of this burn is determined by:
      • A match-and-burn mechanism from the monthly buy-back and burn of 50% of WOO Network's revenue
      • A match-and-burn of rebates on taker orders for WOO X stakers (trade-to-earn)
  • The remaining 5% is for liquidity management. These tokens are mostly locked.
Linear vesting is done on a block-by-block basis on the Ethereum mainnet. For more details, check out the latest quarterly report (Q4, 2021).
Copy link