Hoo was founded back in 2018 by Rexy Wang. After over three years of development, the millennial project has become a global innovative and competitive platform to trade crypto assets. In addition to spot trading, the firm also delivers a wide range of crypto services. Hoo Smart Chain, Hoo Custody, Hoo Research, Hoo Cub Fund, Hoo Labs, HooSwaps, HooPool, are some of Hoo’s products.
Hoo Exchange founder Rexy is one of the early bitcoiners and a famous blockchain investor. He aims to continuously augment and bring more coherent features, including one-stop services like trading, custody, incubation, lending, investment, and crypto mining. Moreover, with continuous expansion and refinement of the ecology, Hoo products have developed decentralized and centralized exchanges characteristics.
Hoo brings a one-stop crypto solution
Since its establishment, Hoo has been deemed a sweeping product business matrix with better ecological services since establishment. According to Rexy, their core businesses include an Over-the-Counter platform, Spot trading, Futures trading, Collateral Loan, Hoo Earn, HooSwap, Hoo custody, etc.
Hoo Exchange is a standard platform where users can trade digital assets. The platform’s primary focus is to bring a cutting-edge hub that melds quality assets to offer international users safe trading services. According to Rexy, they use decentralized servers to enrich the platform’s reliability to secure the platform. Hoo Exchange offers OTC, Spot, Futures. Notably, the OTC business is the bridge between crypto and traditional assets.
OTC: The OTC platform supports transactions in more than 100 nations globally and serves more than 200k users. Users can trade Tether (USDT), Bitcoin (BTC), Ethereum (ETH), and other mainstream crypto assets. The users can also relish two-way free trading and zero transaction fees.
Spot: Users can also witness the most basic form of trading option. Hoo offers more than 400 trading pairs with the amplest spot user base, a high-performance pileup engine, and a TPS of 10k per second.
Futures: When it comes to Futures trading, the exchange supports 1-100x leverage on Tether. With Hoo’s self-developed million-level ultra-high-performance trading engine, the platform sustains 1 million traders. The futures trading fee is only 0.05%
HOO tokens have tremendous benefits
Last year, Hoo issued their HOO token with a total supply cap of 1 billion tokens. One hundred million tokens were disseminated to users among the total volume through HooPool. However, later the firm decided to eradicate 900 million tokens to reduce the cap to 100 million.
The hodlers of HOO can get the corresponding amount of participation in Hoo Labs, which renders revenue by determining high-quality global projects for seed investment, with super high return potential. Notably, the Labs has also cooperated with prevalent projects ICP, WOO, AVAX, etc.
HOO tokens are also obligated to meet daily cash flow needs and are available for lending more than 20 different mainstream cryptocurrencies. The hodlers of HOO can also partake in the HooPool project and receive the first token rewards for new projects by hocking single coins.
Inconceivable operational strategy
Since its establishment, the project has witnessed notable transition due to its unique operational strategy. Hoo embraces the trend towards decentralization and has launched its public chain, Hoo Smart Chain (HSC), which is set as an Ethereum side chain. The blockchain also embraces the PoSA consensus mechanism with block-out time set to 3 seconds and TPS near 500.
Although the project is a decentralized one, it embraces compliance. Hoo believes that compliance operation is the basis for the platform’s survival and evolution. Hence, the brains behind the project launched a sweeping global compliance layout since its inception. And currently, it is actively embracing regulatory systems, including the traditional licensing regulatory system, sandbox regulation, and industry self-regulation.
With such strategies, the crypto platform has successfully garnered the support and trust of millions of users globally. According to Rexy, the firm is vigorously applying for blockchain asset trading licenses in Japan, Singapore, the United Kingdom, Hong Kong, and other nations and regions.
Continuous measures towards globalization
Hoo has already enticed over 4 million users across 120 nations and regions. According to data from Similar web, the top 5 nations with most of the users are Venezuela, Russia, the United States, Brazil, and China.
To continue to expand its global footprint, Hoo established its Global Operations Center in Dubai. According to Rexy:
“This will bring great value to Hoo in its globalization layout and further strengthen Hoo’s compliance development.”
It is also worth noting that Hoo has been invited to jointly establish the Dubai Blockchain Institute with the government and others. The institute will mainly focus on promoting the ecological development of the digital ecosystem.
Moreover, in order to better aid their clients, the firm aims to strengthen the localization layout and technical service. Indeed, while landing in several regions of Asia, America, Europe, and Africa. Ultimately, the firm will stimulate the further development of blockchain technology worldwide.
Why do investors seek to invest in Hoo’s products?
Hoo is considered one of the most attractive exchanges by investors. It brings a range of products that can help investors, traders, and individuals to make passive gains from the world of crypto and blockchain. Besides, the platform has also impressed the investors with its previous growth.
Additionally, according to Rexy, by the end of 2022, they will successfully construct a network-based in Dubai with a global reach. Moreover, the team behind the project believes that their user base would surge above 5 million. Besides, the firm will continue to expand and scale with nearly 20 new partner institutions, 30 new investment projects, and a total fund size of about 100 million Tether.
Rexy also highlighted that by the end of 2023, they expect that the network in Dubai will be basically built along with radiating globally. And by then, they will have a total of 10 million registered users. Meanwhile, the firm would have 30 new partner institutions, 50 new investment projects, and a total fund size of about 500 million USDT.
Hoo has a plethora of options like staking, mining, and two level-referral programs. Such features of the firm attract more users looking to make passive gains. Apart from certain scammer issues and scam projects that one should stay careful about, the overall design of Hoo is pretty impressive. And with its unique growth strategies, the firm has a long way to walk and gain more value with the rising digital ecosystem. Hoo is ultimately promoting the development of blockchain ecology and creating a communication bridge with investors and users in various fields.