Cryptocurrencies are no longer a niche topic that only a dedicated few understand and are involved in. The space has outgrown cyberpunk and early adopters and has already reached millions.
At the time of writing, the total cryptocurrency market cap is less than $2 trillion as daily trading volumes often exceed $100 billion.
Interest in cryptocurrency trading is only increasing, which is also the reason for the development of several trading platforms, among which is Huo Crypto Exchange.
Hu started its journey in 2018 as a crypto wallet and offering a wide range of products including an OTC platform, Spot and Futures trading, Collateralized loans, Hu Smart Chain, Hu Custody, Hu Developed into reputed crypto exchange. Research, Who Cube Fund, Who Labs, Who Swap and WhoPool.
Exchange founder Rexie Wang outlined that some of its strengths include the team’s focus on bringing a state-of-the-art hub to facilitate trading services, as well as the platform’s reliability stemming from the fact that it runs on decentralized servers.
Who OTC
One of Hu’s features is the OTC platform, which currently supports transactions in over 100 countries globally and serves over 200,000 users. Hu users can choose between a variety of mainstream assets, including Tether (USDT), Bitcoin (BTC), and Ethereum (ETH), with free trading and zero transaction fees.
Who also offers spot trading, with over 400 trading pairs to choose from and a TPS of 10,000 per second.
In addition, Hu added futures trading, with leverage starting from 5x to 100x the relevant amount.
who urn
Who Earned is by far the most intriguing offer for HODL-ers as it offers crypto owners an opportunity to earn passively by locking their funds in a specific contract. When users lock funds in the respective contract, they start receiving interest for the number of funds locked in each contract.
Some currencies have the option of being locked in either a fixed, 30-day contract or a flexible contract, which gives users the ability to withdraw their funds without waiting for the 30-day period to expire. Locking funds in flexible contracts is another innovation as users can withdraw and use them at any time they wish.
Fixed contracts, on the other hand, have higher annual yields, reaching 12% with Tether, 9% for Ethereum, and 8.65% for Bitcoin. When crypto funds are locked, the interest rate is going to be paid within one business day after the lockup period ends, while all their principal and interest will be returned to their wallet account, which can be viewed in the wallet balance. could.
Storing money in such contracts is vital to another part of Hu’s ecosystem – collateralized loans. The loan service allows users to exchange their funds for others, with daily interest as low as 0.005%.
Together, all of Hu’s products form an entire ecosystem, which is expanding rapidly. By the end of 2022, Hu’s team expects its user base to reach more than 5 million users. A large part of the growth of the ecosystem will come from state-of-the-art mobile apps for both iOS and Android. The mobile app functionality brings crypto trading and custody to users’ smartphones.
who em pool
In addition, mobile app clients have the chance to participate in Hu’s Automated Market Maker (AMM) liquidity pool included in the latest app update. The functionality upgrades the HooSwap mechanism, allowing users to deposit crypto assets in liquidity pools and share yields by providing liquidity.
The AMM system is fully automated and relies on smart contracts, which collect the liquidity provided in the pool, while also distributing the proceeds for fund provisioning. Entering a pool is easy – users just need to put their funds into the respective pool and start earning. However, for liquidity providers to join the AMM network, they must provide both types of crypto in the pool – eg, Bitcoin (BTC) and Tether (USDT).
There is also a two-tier referral program for users who want more passive income options. In the first phase of the referral program, users receive 20% of their friends’ trading fees as a reward, while in the second phase, users receive an additional 10% trading fee if the referrals bring other users to Hu.
whoo token
For a working smart chain, Hu added the HOO governance token into circulation, ensuring community action in the development of the project. The token also acts as a gas fee-payment medium on the smart chain.
The team also encourages users to hold and use tokens through participation in whoopool mining, meaning HOO token holders can use their HOO to participate in the initial mining program of a new project, Which gives them the privilege of preempting them in the pool. Compared to other users who don’t have HOO.
In addition, HOO holders can benefit from liquidity mining and doubling of fee staking, discounted handling fees with VIP benefits, commission discounts by referring new users, as well as more than 20 types of mainstream cryptocurrencies.
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