HooSwap upgrade with adding new scenarios for empowering HOO

On November 9, Hoo Exchange released its latest announcement that the fast launch token service of HooSwap was upgraded. Projects that apply to go live on HooSwap receive a 20% discount on testing fees when using HOO.

It is understood that HooSwap is an innovative product launched by Hoo  Exchange against UniSwap, and is the first Swap built by a centralized exchange in the industry based on AMM (Automated Market Maker). Previously, the Hoo Exchange launched a “double exemption policy” for HooSwap. Only need 10 USDT equivalent go-live tokens + a small test fee, project owners can go live on HooSwap for  free by “one click”.

According to the latest announcement, the current test fee on the Ethereum chain is 500 USDT, and the test fee on other chains is 100 USDT and a 20% discount on testing fees will be offered when using HOO. This service upgrade does not include the following types of projects: those with a rebase mechanism or a destruction mechanism during the transfer process; Tokens that only allow transfers between a few specific accounts; Tokens whose assets will be frozen immediately after the transfer; Main net or other public chain projects and other non-compliant tokens, etc.

Since the outbreak of DeFi, Hoo, which is user-centric and pursues innovative development, has followed the market hotspots and quickly launched the innovative HooSwap product based on AMM as a way to achieve synergy between CEX and DEX, said the person in charge of Hoo. This synergy means that Hool is not only a centralized exchange with global development, but also bridges the barriers between CEX and DEX and promotes the integration of both. This upgrade is also an increased effort to support innovative projects, and users can benefit from the upgrade.

Explore more high-quality projects
HOO ecology continues to be empowered

The person in charge also said that in addition to bringing users a better product experience, Hoo is more interested in discovering more quality projects through HooSwap, so as to start cooperation and layout with quality projects on the ecological level.

The projects that go live through HooSwap can share the traffic of Hoo Exchange, and of course there is no shortage of potential projects with development potential. For projects with high quality performance, HooSwap will provide more display space and development opportunities for quality projects on HooSwap through HOO ecological resources, and even have the opportunity to gain access to the HooSwap spot trading area.

Likewise, HooSwap is a great way for users to find an opportunity to invest in quality projects in advance, and a good option for higher returns.

Avoid the possibility of counterfeit currency
Transactions are more secure

According to the official website of Hoo, there are currently 155 projects supported on HooSwap. Most mainstream assets and popular assets on the market can be found in HooSwap trading pairs, and users can directly trade on HooSwap.

Compared with the “counterfeit currency” DEX platform on the market, the trading pairs on HooSwap are all supported by the Hoo Wallet. Therefore, they must deposit and withdraw through the Hoo platform to enter HooSwap, avoiding the possibility of counterfeit currency. Users on HooSwap trading are even more reassuring.

Support cross-chain services 
Exempt high gas fees

In terms of cross-chain technology, Hoo is a leader in the industry, supporting users to switch assets on multiple mainstream public chains such as HSC, BSC, ETH, OMIN, EOS, TRC, and HECO. For example, for a certain project, to expand its liquidity, it will be deployed on multiple chains such as BSC and HECO. So it is impossible for users to transfer directly from BSC to HECO. HooSwap’s multi-chain conversion function provided by Hoo’s mature cross-chain technology allows project assets to be directly launched to HooSwap through the Hoo platform, eliminating the cumbersome operation and high Gas fees caused by cross-chain. 

Some professionals say that HooSwap, an innovative product created by Hoo to keep up with market demand, grasps the user experience in the details, and discovers high-quality projects in cutting-edge exploration. The launch of using HOO to enjoy a 20% discount on the payment of test fees is also a measure to empower the HOO ecosystem and continue to support innovative projects, and  HOO will also gain greater value growth space in the future.