The Hoo Phenomenon: Revolutionizing Crypto with Ancient Roots
Have you ever wondered how ancient practices could influence modern-day cryptography? Let’s dive into the fascinating story of Hoo, a crypto exchange that melds tradition with innovation.
A Legacy from the Qin and Han Dynasties
The term “Hoo” originates from a time when it was a token used by Chinese emperors to grant military power. Shaped like a tiger and made of copper, it consisted of two halves — one kept by the emperor, the other by a general. When these halves matched, they symbolized authority to deploy troops.
In contemporary terms, we see this concept mirrored in cryptocurrency wallets. Think of your wallet address as one half and your private key as the other — you need both to access your assets.
The Emergence of HOO Token
Founded initially in 2017 as a cryptocurrency wallet, Hoo rapidly gained reputation. By June 2019, Hoo had acquired two startup exchanges in China — Chaince and OAX — to expand its services to include wallets, custody solutions, and mining activities. The platform subsequently introduced “Hoo Power,” allowing users to digitalize asset rights like Gain Right and Refund Right into tradable tokens.
Unveiling the Native Token: HOO
The native token of this ecosystem is HOO, an Ethereum-based decentralized digital asset. Not only can it be used to offset trading fees up to 50%, but also 20% of platform transaction fee revenue goes towards buying back and burning HOO tokens regularly. Holding large amounts grants access to supernode programs for further benefits.
Product Suite at a Glance
- Hoo Exchange: A leading trading platform listing 69 coins with free token swaps available via Quick Swap.
- Hoo Financing: Offers financing for various mainstream cryptocurrencies including BTC, ETH, EOS, USDT among others.
- HD Wallet: An on-chain wallet supporting multichain management through mnemonics.
- Hoo Custody: Provides secure wallet services for businesses such as exchanges and game operators.
The Evolutionary Path
Post-merger with OAX and Chaince, real-name users at Hoo exceeded 300k with daily active users around 10k — a solid foundation propelling growth momentum forward.
Accelerating Innovation through HOO Lab
Hoo Lab aims at discovering and accelerating blockchain projects globally by investing in innovative ideas like ALGO Fundraising or Nervos CKB Investment ensuring mutual growth between projects and its user base.
Enhancing User Opportunities via Innovative Financing Solutions
Through demand financing or regular plans with robust returns that keep assets liquid or locked depending on user preference — Hoo Financing continually adds value for its users’ assets.
Meet the Minds Behind HOO
- Ruixi Wang (Founder & CEO): An early Bitcoin adopter who transformed his journey from being a miner owner after facing setbacks into founding several notable ventures before establishing Hoocom in Hong Kong.
- Chaohua Deng (COO): Active on Bitcointalk since 2013; played crucial roles at multiple exchanges before joining Hoocom post its acquisition spree.
- Xiaohai Chen (CMO): With academic roots in finance from Denver University followed by professional stints including PricewaterhouseCoopers joined Hoocom bringing vast financial expertise post OAX acquisition.
Leveraging their profound industry experience makes this core team exemplary leaders driving innovation within Hoocom’s ecosystem while ensuring safety-efficient operational integrity benefitting worldwide users alike!
How do you think ancient practices could further influence modern tech advancements? Share your thoughts below!