Hoo is a one-stop cryptocurrency exchange that offers services including crypto trading, financing, wallet, and custody, etc., aiming to discover the investment opportunities of digital assets for active users.^[1]

The Origin of Hoo

Hoo (Chinese pinyin: Hufu) originated from the Spring and Autumn Warring States and prevailed in the Qin and Han Dynasties.^[2]

It was a token used by the ancient Chinese emperors to grant the military power. Hoo is a tiger-shaped token made of copper which is divided into left and right halves. The right half is kept to the emperor and the left half is sent to the hand of the general. When the left and the right half match each other, the one who has it would have the power to deploy forces and dispatch troops.^[3]

Hoo is the origin of cryptography to some degree. The cryptography today inherited the spirit of Hoo. For example, for a crypto wallet, the wallet address is similar to the left half of Hoo and the private key is the right half of it. You can have the access to your assets only if the two matches.^[3]

HOO History

Hoo Token was founded in 2017 as a cryptocurrency wallet. It quickly grew into a well-reputed wallet in the field in just two years. In June 2019, the HOO announced its acquisition to Chaince and OAX, two start-up exchanges in China, and fully upgraded to a blockchain assets service platform whose business expanded to crypto exchanges, wallets, custody, and the mining industry.^[1]

Hoo officially launched its initiative “Hoo Power” In September 2019. After several trial fundraisings which were huge, HOO was welcomed by the users. Hoo Power is a program that digitalizes the assets rights of Hoo users, such as Gain Right, Refund Right and Buy Back Right, etc.^[3]

The “Digitalization of Assets Rights” at Hoo Power is to digitalize the rights of user cryptocurrency assets and turn them into tradable tokens which can be circulated and transferred in the secondary market. Users who hold digitalized right tokens (ticker name starting with a T) will be able to exercise their rights in a certain period of time with “1 token + 1 digitalized right token”.^[2]

Overview

HOO is the native token of the whole ecosystem of Hoo Exchange, ticker HOO, which is a decentralized blockchain digital assets based on Ethereum. HOO is also a world’s leading blockchain assets service platform, aiming to provide safe and reliable assets management and blockchain services to users worldwide.^[3]

HOO, as the native token of HooSwap ecosystem, will be applied to several scenarios, such as using HOO to offset the trading fees with a discount of up to 50%. A certain percentage of 20% of the platform transaction fee revenue will be used to buy back HOO and burn them regularly.^[2]

Large amounts of holders of HOO can participate in the platform's supernode program and enjoy the corresponding benefits and power while growing with the platform. In the future, the native token rights will correspond to the platform VIP rights, and the holders of HOO will enjoy the VIP benefits of the platform's whole ecological products and other scenarios.^[1]

HOO (Hoo Token) has a total supply of 1 billion, of which 100 million will be produced through the HooPool mining pool, including airdrop, liquidity mining, lossless mining, trading, etc. HooPool, as a supporting component of HooSwap, will support the market-making "USDT-HOO LP" produced by HooSwap for mining, thereby helping to improve the liquidity of HooSwap, and enhance the user experience.^[3]

HOO Products

1. Hoo Exchange: Being one of the key features at Hoo.com, Hoo Exchange aims to become the world’s leading cryptocurrency trading platform. As of writing, the exchange has listed 69 coins with 80 trading markets. Users are also able to swap their tokens for free with a “Quick Swap” feature on the website and in the APP.
2. Hoo Financing: Hoo supports the financing of various mainstream digital currencies such as BTC, ETH, EOS, and USDT as well as other tokens, including current and regular financial management methods. Collateral Loaning is a loan service for digital currency launched by Hoo, aiming to help users with their capital problems in time. The borrower gets the loan by staking the blockchain assets he holds, with daily interests as low as 0.005%. Coins that can be used for staking include BTC, ETH, EOS, HC, USDT, BCH, LTC, etc.
3. HD Wallet: HD Wallet is the on-chain wallet of Hoo. Users control their private keys and are able to manage multi-chain wallets with one set of mnemonics. The HD Wallet now supports Bitcoin, Ethereum, EOS, Ho, and BTC Lightening Network and the integration with Dapps and Lapps
4. Hoo Custody: Hoo Custody includes commercial wallet services and large asset trusting services. Hoo Custody provides mature and reliable wallet service solutions to help companies such as exchanges, OTC platforms, wallet service providers, game operators, and other companies to deposit, transfer, query, and redeem products, which improves development efficiency and reduces operational risk.^[2]

HOO Exchange

Hoo Exchange is the world’s leading cryptocurrency exchange that supports multiple cryptocurrencies. It is established on the basis of the acquisition of OAX and Chaince. After the merger of the three companies, the real name users of the Hoo Exchange exceeded 300,000, with approximately 10,000 daily active users. The three exchanges collected more than 20 mainstream public-chain projects and completed the “cold start” of Hoo Exchange.^[1]

HOO Lab

Hoo Labs aims to discover, invest and accelerate great blockchain projects globally. By selecting, investing, and supporting the project, Hoo Labs help propel the development of the project and list the coin as one of the spot trading areas so as to bring benefits to users. Currently, Hoo Labs has launched four projects, namely ALGO Fundraising, COCOS Fundraising, Nervos CKB Investment, and ALGO Refund.^[1]

HOO Financing

Users can purchase the financing plans for various coins, adding values for their assets in a convenient way.

• Demand Financing

Hoo Demand Financing supports the demand financing of multiple coins in the wallet account, with an annualized interest rate ranging from 1% to 365%. users' assets will not be locked. Withdraw or deposit at any time.

• Regular Financing

Hoo Regular Financing support the regular financing of various mainstream coins with high rate of return that is safe and stable. Your assets will be transferred to the demand financing account when the regular financing dues.^[3]

HOO Team

Core team of Hoo Exchange is composed of early Bitcoin lovers, blockchain developers, and technicians who have abundant experience in blockchain development and marketing.^[2]

Fouder & CEO - Ruixi Wang

Ruixi Wang is a Chinese crypto investor and entrepreneur, who is the founder and CEO of Hoo.com. He first came across Bitcoin in the first half of 2013 when the One Foundation announced that they received 81 BTC donation. Not long after which he started a blockchain explorer called BtcMini, aiming to help people to get to know more about Bitcoin. When the agency went bankrupt, he joined the BitFountain, a Bitcoin miner company, one of the top three miner companies at the time.^[1]

Two years later in January 2015, the founder of BitFountain ran away with 17,597 BTC. Wang bought the machines left in the company and started his new career as a miner owner. In the end of 2016, Wang fully-purchased PoW8.com, a well-known Chinese digital currency cloud mining and trading platform, with 5 million RMB.^[1]

In the middle of 2017, Wang started his own ICO platform icooo.com, which was forced to be closed when Chinese government banned ICOs in September that year. In May 2018, Wang founded Hoo Wallet that was registered in Hong Kong. In June 2018, Hoo announced its acquisition to Chaince and OAX, two start-up exchanges in China and fully upgraded to a blockchain assets service platform (hoo.com) whose business expanded to crypto exchanges, wallets, custody and mining industry.^[3]

COO - Chaohua Deng

Deng has been active on Bitcointalk since 2013. At the end of that year, he joined the marketing team of AEX exchange. In 2017, he started an ICO platform ICO365 which was also closed due to policy reasons. In 2018, Deng joined OAX exchange and worked as COO. In June 2019, he worked as COO at hoo.com after the acquisition.^[2]

CMO - Xiaohai Chen

Chen got her Master's degree in Finance at the University of Denver after she worked for five years in PricewaterhouseCoopers. She started her crypto journey in 2017 as a co-founder in OAX exchange. In June 2019, Chen worked for Hoo.com as CMO after its acquisition to OAX.Hoo Token (HOO) (Founded in 2017 ) is a one-stop cryptocurrency exchange that offers services including crypto trading, financing, wallet, and custody, etc., aiming to discover the investment opportunities of digital assets for active users.^[1]