{"id":7052,"date":"2021-03-18T17:07:49","date_gmt":"2021-03-18T15:07:49","guid":{"rendered":"https:\/\/esatoshi.club\/?p=7052"},"modified":"2021-03-26T13:27:44","modified_gmt":"2021-03-26T11:27:44","slug":"satoshi-club-x-cook-protocol-march-17th","status":"publish","type":"post","link":"https:\/\/satoshi-club.esipick.com\/index.php\/2021\/03\/18\/satoshi-club-x-cook-protocol-march-17th\/","title":{"rendered":"Satoshi Club x Cook Protocol, March 17th"},"content":{"rendered":"\n<p>Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Cook Protocol. The AMA took place on March 17th, 2021 and our guest was @kp_cook.<\/p>\n\n\n\n<p>The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will try to summarize some of the most interesting points for you.<\/p>\n\n\n\n<h2><strong>Part 1 \u2014 introduction&nbsp;and&nbsp;questions from the Telegram&amp;Bitcointalk&nbsp;community<\/strong><\/h2>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>Hello Satoshi Club! We are happy to\nannounce our AMA session with Cook Protocol!&nbsp;&nbsp;&nbsp;\nWelcome to Satoshi Club&#x1f600;<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Hello, dear Satoshi Clubbers!<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Hi&nbsp;\neveryone! This is Kun from cook protocol! Happy to be here<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Welcome to Satoshi Club @kp_cook!&#x1f60a;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Thank you!<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>Hello! Welcome here! What\nwill we cook today?&#x1f600;<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Thanks for joining!&nbsp; Therefore, we expect from you interesting facts\nabout Cook Protocol.&#x1f609; To begin with, please tell us a few words about yourselves\nand how did you get to be involved in crypto &amp; Cook Protocol?<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Sure. So I am the strategy lead of Cook\nProtocol. I have done 8 years of technical product management before joining\ncook protocol<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>When did you start with Cook Protocol?&#x1f600;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>I got involved in crypto in 2017 more\nlike an investor. Then I started to dig deeper into crypto and totally fell in\nlove with the industry. At the time I did not find any good solution to help\nmanage my crypto asset<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>Yes, it&#8217;s not always easy<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>then you are a real crypto fan&#x1f601;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>I totally am &#x1f603; To\nanswer your question and continue my story. Then a group of friends and also\ncrypto investors came together to brainstorm and to create an asset management\ntool to help retail investors like us to better manage their assets. It\u2019s\nabout 2020 when we decided to launch Cook Protocol. I joined Cook Protocol\naround May\/June ish last year<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>What is your role in the project? And\nalso tell us a little about the team. How many people? perform what functions?&#x1f60a;<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>Sure, you choose right time &#x1f600;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Sure. I am more on the\nbusiness\/marketing side. But you know it\u2019s startup. So the founding team really\nhas no clear definition of roles. We all need to do a little bit of everything,\nBD, marketing, technical, product management to name a few. Our\ncore team is mainly located in Silicon Valley and has pretty good backgrounds.\nI graduate from Stanford University. The others graduate from UC Berkeley,\nCarnegie Mellon. Several engineers from Google, YouTube and Dropbox<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>Really experienced team&#x1f44d;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>We have expanded pretty quickly in the\nlast few months. We are bout 15 people now. No longer Silicon Valley only.\nGlobally distributed in Europe, Asia, Middle East, America. About 8 countries<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>You have a great team of like-minded\npeople !!&#x1f44d; Thank you very much for sharing! Ready to jump on to\ncommunity questions, or would you like to add something? &#x1f60a;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>We have quite some engineers on the team\nand then also teams working on the BD and marketing on the English speaking\ncommunity. Since our core team, although all based in the Bay Area now, is from\nChina originally, we have marketing\/Bd team in China as well<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>By the way, what markets besides Asian\nare you also targeting?<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>So we are targeting China since we are\nnative in Chinese and understand the Chinese culture. But then I actually lived way more time\noutside of China. Grew up in Argentina and then came to states for uni. So\nwe are global citizens and target a lot of regions as well. The main focus is\nthe English speaking community, mainly Europe\/America and then the Chinese\nspeaking community in China. Done with my answer<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Thanks &#x1f60a;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Yes, I am ready. Finished with the\nintroduction!. We are a global project<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Thank you very much for the great intro.&#x1f44f;<\/p>\n\n\n\n<p><strong><em>Q1 from Telegram user @Pratze<\/em><\/strong><\/p>\n\n\n\n<p><em>Cook Protocol will getting closer to\nhave an IDO on the cross-chain platform Poolz. and you already announce that\nyou are opening the whitelisting for IDO. so how do we possible to become of\none of your whitelist? what is the requirement ? beside IDO, is there any other\nway to get your token?<\/em><\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Thank you for the question. So\nthe whitelisting rule for Poolz is listed on the medium article. bear\nwith me one sec. trying to find the link<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>Take your time &#x1f642;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong><a href=\"https:\/\/twitter.com\/cook_finance\/status\/1371546909219852293\">https:\/\/twitter.com\/cook_finance\/status\/1371546909219852293<\/a><\/p>\n\n\n\n<p>this tweet actually has the details<\/p>\n\n\n\n<p><a href=\"https:\/\/cook-protocol.medium.com\/cook-protocol-opens-whitelisting-for-poolz-ido-participation-b09d27e059d0\">https:\/\/cook-protocol.medium.com\/cook-protocol-opens-whitelisting-for-poolz-ido-participation-b09d27e059d0<\/a><\/p>\n\n\n\n<p>here you go. the rules and requirements are explained\nhere, copying from the medium article<\/p>\n\n\n\n<p>1. Follow Poolz on Twitter<\/p>\n\n\n\n<p>2. Follow Cook Protocol on Twitter<\/p>\n\n\n\n<p>3. Retweet the pinned tweet with a quote\nand tag 2 friends on the Poolz &amp; COOK protocol Twitter account<\/p>\n\n\n\n<p>Make sure to include cashtags $POOLZ and\n$COOK.<\/p>\n\n\n\n<p>Link to pinned tweet: add link<\/p>\n\n\n\n<p>4. Join Cook Protocol\u2019s Telegram group\nand Cook Protocol\u2019s Announcement Channel<\/p>\n\n\n\n<p>5. Fill the whitelist form here<\/p>\n\n\n\n<p>6. COOk IDO staking page link<\/p>\n\n\n\n<p>we will also do IDOs on other platforms&nbsp;\nwhich are to be announced shortly<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>How many people already filled thx form?&#x1f609;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>quite a bit I bet. Actually I don&#8217;t have\naccess to the data. Poolz people are managing the form. but from the reaction of our community,\nwe can tell quite a bit<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>Oh, got it! &#x1f44d; Sure, they will\nmanage everything in the best way!<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>we will be glad if you can share with us\nwhenever possible.<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>other than IDOs. you can also get our tokens by doing\nsome tasks or participate in programs that will be announced in our community.\nso join our telegram to stay tuned<\/p>\n\n\n\n<p><a href=\"https:\/\/t.me\/cook_english\">https:\/\/t.me\/cook_english<\/a><\/p>\n\n\n\n<p>yeah, totally. will announce as soon as it is ready. Join\nSatoshi Clubbers&#x1f680;&#x1f680;<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>Thank you for your answers! Ready to\nproceed?<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Yes. Let\u2019s proceed!<\/p>\n\n\n\n<p><strong><em>Q2 from Telegram User&nbsp; @Xusuo <\/em><\/strong><\/p>\n\n\n\n<p><em>Could you please tell us what problem\nthat people usually get from investment that Cook Protocol aims to solve? and\nwhat is the potential risk that Cook Protocol have for now and how do you plan\nto solve that problem?<\/em><\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Great question! So what we found out is, although DeFi\nis pretty hot, it\u2019s very hard for retail investors to benefit from it because\nof several reasons. A lot of DeFi concepts are very technical and difficult to\ngrasp if one does not have technical background<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>That&#8217;s true &#x1f602; Also,\nthe gas fees are outrageously high on Ethereum, which make it very unfriendly\nto retail investors. In addition, we also feel that a lot of the current products\ndo not have a very intuitive UI and user-centric UX<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>we understand you very well&#x1f601;&#x1f648;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Also, a huge portion of global audience\ndoes not speak English at all, so they cannot understand the latest and\ngreatest in DeFi. Or use some of the products actually<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>I really liked the interface. It is\nquite intuitive and uncomplicated for the user!<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>So how we intend to solve the problem is\nto build a cross-chain asset management platform that is user-friendly. There\nare three points I will elaborate<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Are there any features that you are most\nproud of?<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Yes, we are right now almost at the end\nof development of an index product, which basically encompasses all the top 10\nmajor cryptocurrencies. So people can buy the index fund, which is like buying the\nunderlying tokens. But at the same time, we are working on yield-optimized\nindex, which means that while you can the index, the tokens that you bought\nwill be used to do yield farming or lending to maximize returns on your capital<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Looking forward to hearing more&#x1f680;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>So the three points that I have are\ncross-chain, usability and high capital efficiency<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>And they are really important in assets\nmanagement!<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>High capital efficiency, I sort of\ntouched the point on the answer above: the fact that your capital will be used\nin multiple places to maximize your earnings. For cross-chain, we are actively\ndeveloping on Ethereum and Huobi Eco chain<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>Just two or it&#8217;s for the beginning?<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>Just the beginning. Focus now. So we\nannounced yesterday that we got investment from OKEx<\/p>\n\n\n\n<figure class=\"wp-block-embed-twitter wp-block-embed is-type-rich is-provider-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">We are thrilled to announce that @BlockDreamFund, an investment institution under @OKEx, strategically invests in <a href=\"https:\/\/twitter.com\/cook_finance?ref_src=twsrc%5Etfw\">@cook_finance<\/a>. <br><br>The funding will be used to accelerate product development and establish <a href=\"https:\/\/twitter.com\/hashtag\/CookProtocol?src=hash&amp;ref_src=twsrc%5Etfw\">#CookProtocol<\/a> as the industry leader\ud83d\ude80<a href=\"https:\/\/twitter.com\/hashtag\/dream?src=hash&amp;ref_src=twsrc%5Etfw\">#dream<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/COOK?src=hash&amp;ref_src=twsrc%5Etfw\">#COOK<\/a><a href=\"https:\/\/t.co\/dPsoufpfsc\">https:\/\/t.co\/dPsoufpfsc<\/a><\/p>&mdash; Cook Finance (@cook_finance) <a href=\"https:\/\/twitter.com\/cook_finance\/status\/1371859254672465921?ref_src=twsrc%5Etfw\">March 16, 2021<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>so OKExchain is a place that we are\ntargeting as well, we will become first mover in their DeFi ecosystem, while we\nare more like a early mover in Huobi Eco<\/p>\n\n\n\n<p>So Ethereum, due to its high gas fees, a\nlot of the operations cannot be carried out. It\u2019s like 5000 dollars to set up a\nfund, which is like crazy!!<\/p>\n\n\n\n<p>So we intend to do only index fund at the\nbeginning<\/p>\n\n\n\n<p>On Ethereum to minimize gas fees<\/p>\n\n\n\n<p><strong>\u041c\u0430<\/strong><strong>ry\nSatoshi CLUB: <\/strong>It&#8217;s unbelievable &#x1f926;<\/p>\n\n\n\n<p><strong>K\nP: <\/strong>And then on Huobi Eco chain, we will do\nindex fund but also more advanced actively managed fund because of the\nsignificantly lower gas fees<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>I read that you are also concerned about\nthe IP protection<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>yes, we are concerned about IP protection for fund\nmanagers<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>they just started to form their\necosystem &#x1f609;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>yes. so that&#8217;s why their investment strategies can\nbe private while what they did in term of asset allocations are publicly\navailable. and then we will also have some presence in BSC. Polkadot\nis an interesting place however, their parachain is just getting ready and the\nDeFi ecosystem is not very mature yet .the other three chains I mentioned, Huobi Eco,\nBSC and OKExchain, they are all EVM compatible<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Oh, BSC is hot now&#x1f525;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>it&#8217;s relatively easy for us to migrate. but\nPolkadot might need quite some extra work. so that&#8217;s why we are\nhaving it more in the back burner<\/p>\n\n\n\n<p>plus we are like at the top stack of the\nDeFi lego<\/p>\n\n\n\n<p>so the underlying protocols, like lending\nand DEX need to be ready, for us to come into play .we need to interact\nwith them. so this is the cross-chain part. for the usability\npart. we will have a super user-friendly and intuitive UI\/UX. we have UX\nadvisors from top notch companies that have designed products used by a lot of\nconsumers. they are really expert in user experience, top notch company\nlike Amazon, at the backend we will do all the complexed technical heavy lifting\nwork to connect with all these protocols, but on the frontend,\nit will be very straight-forward UI\/UX for people who are not very technical to\ninteract with<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>thank you very much for such\na detailed answer! Ready to proceed?&#x1f60a;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>sure<\/p>\n\n\n\n<p>but one last thing. I think the second\npart of the question is about risks .I will briefly touch the point. so that we\ncan move forward<strong>. <\/strong>the biggest risk\nwe se is the high gas fees on ethereum , which render a lot of the operations unusable<\/p>\n\n\n\n<p><strong><em>Q3 from Telegram User @yellowchamp<\/em><\/strong><\/p>\n\n\n\n<p><em>In your Roadmap, I see that you will\nrelease Columbus Version Integration Testing in 2nd quarter this year and you\nwill also release Magellan Version release in Ethereum mainnet this coming 4th\nquarter of this year also. So, can you give a little spoiler about the\ndifference between Columbus and Magellan Version that you are going to release\nthis year? Why do you need two version and why do you choose to name this\nSpanish native as Cook Protocol version? By the way, can you clearly explain\nwhat version in your platform is Columbus and Magellan<\/em><\/p>\n\n\n\n<p><strong>K P:\n<\/strong>the name explanation first<\/p>\n\n\n\n<p>so we are named Cook Protocol to reference\nCaptain Cook<\/p>\n\n\n\n<p><strong>&nbsp;<\/strong>in the geographic\ndiscovery era in the 1500s and 1600s, a lot of captains will set sails to\nIndia\/Southeast Asia\/China and if they bring back spice, chinaware, silk etc,\nthey will become super rich<\/p>\n\n\n\n<p>back then the voyage is super costly<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>James Cook &#8211; Wikipedia<\/p>\n\n\n\n<p><a href=\"https:\/\/en.m.wikipedia.org\/wiki\/James_Cook\">https:\/\/en.m.wikipedia.org\/wiki\/James_Cook<\/a><\/p>\n\n\n\n<p><strong>K P:\n<\/strong>so that&#8217;s why they invented the crowdfunding in\n1500s. they got money from citizens and then go out on sails. If they come\nback. The original investors will make a huge fortune like 100X or 1000X\nreturns. this kind of crowdfunding behavior starts to get more and more\nstandardized. and then eventually evolved into Amsterdam Stock of Exchanges<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Great story!<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>which is the starting point of the modern financial\nsystem. so that&#8217;s the reason why we have this name to demonstrate our vision\nthat DeFi will go on the similar path and evolve into a big decentralized\nfinancial system<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>It makes sense &#x1f642;<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>I really like the philosophy\nof your project! &#x1f680;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>back to the point of differences, so for Columbus,\nwe are mainly focused on Ethereum and HECO. We will do some index products\nmainly. and for Magellan, we will start to open up functionality for fund\nmanagers to set up their funds. and then expand to other chains like\nOKExchain, BSC and potentially Polkadot depending on how mature their ecosystem\nbecomes. that&#8217;s it, my answer to the 3rd question<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Thanks a lot! We are all a\nbit of a pioneer in the crypto sea and everything dreams of being realized!\nReady for the next question? &#x1f60a;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>any other follow-up questions or should\nwe proceed to the following question?<\/p>\n\n\n\n<p><strong><em>Q4 from Telegram user @Derazy <\/em><\/strong><\/p>\n\n\n\n<p><em>Can you elaborate more about ckToken?\nyou mentioned a ckToken is an LP token that represents the ownership percentage\nof an investment fund. Does this mean we have to invest first to have ckToken?\nand if the ck token is traded, does this mean there will be a transfer of\nownership?<\/em><\/p>\n\n\n\n<p><strong>K P:\n<\/strong>ckToken is a LP token, it&#8217;s like your ownership of\nthe fund that you invest in. and sure, you need to invest first to get the\nLP token. so we foresee two scenarios. for funds that are very popular and have quite\nsome liquidity. then there will be trading happening, maybe even Uniswap trading\npair and then for funds that are not that popular. liquidity is not\nenough. then their LP token holders might only be able to claim the\nunderlying assets from funds<strong>. <\/strong>buying\nand selling those LP tokens might not be very straightforward<strong>. <\/strong>if you trade ckToken, it means transfer of\nownership for sure<\/p>\n\n\n\n<p>yeah, that&#8217;s my answer<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>As continuation to all previous\nquestions i want to ask &#8211; which features of Cook Protocol can ordinary users\nuse?<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>so the first feature we will launch is index\nfeature. ordinary users will be able to use it .on HECO and Ethereum. we will\nlaunch more features later. like the yield-optimized index and more\nactively managed funds,\nin later versions of our product release<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>So, let&#8217;s say we will use Columbus,\nright?&#x1f642;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>yes<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Share with us please your\ntokenomics btw<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>sure<\/p>\n\n\n\n<p>so we use price-based unlocking mechanism. when price\nhits certain point, certain percentage of the tokens get unlocked<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>yes .. that sounds good! &#x1f60a; Are you planning a staking program?<\/p>\n\n\n\n<p><strong>K P: &nbsp;<\/strong>yes, we will launch liquidity mining program and some other incentive program once we are listed on Uniswap<\/p>\n\n\n\n<div class=\"wp-block-file\"><a href=\"https:\/\/esatoshi.club\/wp-content\/uploads\/Tokenomics-1.pdf\">Tokenomics<\/a><a href=\"https:\/\/esatoshi.club\/wp-content\/uploads\/Tokenomics-1.pdf\" class=\"wp-block-file__button\" download>Download<\/a><\/div>\n\n\n\n<p>here is a file that explains our tokenomics\nin more details<\/p>\n\n\n\n<p>for the sake of time, I would not go into\ntoo much details<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Thanks, we will definitely dive\ndeeper in it after AMA!<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Oh &#8230; This file has an\nanswer to my question &#x1f601; thanks<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>thanks! ready for the next\nquestion? or want to add something?&#x1f60a;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>ready<\/p>\n\n\n\n<p><strong><em>Q5 from Telegram User @AugusS7<\/em><\/strong><\/p>\n\n\n\n<p><em>One of the characteristics of Cook\nFinance is that it has three different oracles, such as \u201cChainlink, Band\nProtocol, Uniswap Oracle\u201d, but could you explain why so many oracles are\nrequired? Could it be that by joining the services of the three, it is possible\nto avoid data concession problems with blockchain?<\/em><\/p>\n\n\n\n<p><strong>K P:\n<\/strong>yes. sorry my computer screen froze a little bit. I just got\nthe question. we are planning to have decentralized oracle services so that we do\nnot have single point of failure. say if one oracle malfunctions or got\nmanipulated somehow, we can still use other oracle services to determine that\nsomething abnormal happened. also we are not limited by three. three is\njust an example given in the white paper. but decentralization\nis the point that we want to illustrateto minimize over-dependency on one\nparticular oracle service<\/p>\n\n\n\n<p>done with my answer<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>great answer! &#x1f680;<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Didn&#8217;t you think about your own\noracles creation?<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>that&#8217;s the place we don&#8217;t want to put too much\nfocus on since we only have so much resources. Don&#8217;t want to spread too thin.\nWe need to focus more on creating valuable investment services for investors<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Understand &#x1f642;<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Please share with the\nSatoshi Clubbers your plans for the future, tell us what you have in the\nroadmap? &#x1f60a; please<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>sure<\/p>\n\n\n\n<p>it&#8217;s gonna be exciting time. we plan to\nlist on Uniswap pretty soon like in a few weeks .we announced Poolz\nIDO already<\/p>\n\n\n\n<p>will announce more soon and we will\nhave some quite interesting campaign launched next week<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Can you give us a hint?&#x1f600;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>it&#8217;s about NFT<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Oh, that&#8217;s my favourite &#x1f602;&#x1f602;&#x1f602;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>on the product side. we are moving pretty\naggresively<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Sure, now is the best time to move!\nWorld should know about Cook Protocol &#x1f389;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>being audited by Slowmist on our index product\ncurrently<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>Good mooooning Cook Protocol&#x1f680;&#x1f680;&#x1f680;&#x1f601;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>will finish the frontend of our index product UI\npretty soon<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Nice choice &#x1f680;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>planning to launch index products on HECO and\nEthereum probably around the beginning of April. right after Uniswap\nlisting<\/p>\n\n\n\n<p>within 1-2 weeks gap<\/p>\n\n\n\n<p><strong>&nbsp;<\/strong>marketing is on\nfull steam<\/p>\n\n\n\n<p>for both English speaking community and in\nChina<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>A lot of events &#x1f44f;&#x1f44f;&#x1f44f;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>yeah<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>We will follow your announcements!<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>and we will do liquidity mining for sure to\nbootstrap our ecosystem and products<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Thank you for your answers! Ready for\nthe 6th and last question from this part? Really? It&#8217;s a great\nto join from the beginning!<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>yes, you can join the telegram <a href=\"https:\/\/t.me\/cook_english\">https:\/\/t.me\/cook_english<\/a> or the\nannouncement channel <a href=\"https:\/\/t.me\/cook_announcement\">https:\/\/t.me\/cook_announcement<\/a><\/p>\n\n\n\n<p>yes<\/p>\n\n\n\n<p>let&#8217;s go<\/p>\n\n\n\n<p><strong><em>Q6 from Telegram User @BeaEvolet<\/em><\/strong><\/p>\n\n\n\n<p><em>It strikes me that one of the features\nof the token is that holders can choose the rates they want, the most logical\nthing is that users will go for almost free rates, my question is how is the\nCook protocol going to be sustained ? Only with mining ?<\/em><\/p>\n\n\n\n<p><strong>K P:\n<\/strong>not entirely sure if I got the question right<\/p>\n\n\n\n<p>so the rates refer to the fees that they\npay?<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong><\/p>\n\n\n\n<p>Where you are planning to be profited from?<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>I see. the revenue model<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>where is the finance for the\ndevelopment of the project .. is it possible to understand that?<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>so first of all, fund managers will collect fees\nfrom investors for the services that they rendered. Cook Protocol will\ntake certain percentage of the fees off the management fees that fund managers\ncan collect<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Which fees will you have?<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>so we intend to become a platform, so on our\nplatform investors can send their funds to a smart contract that will be\nmanaged by professional fund managers. for them to use our platform, we will charge\nfees. for the fund managers side, since they will earn money by helping\ninvestors manage their funds, they will collect management fees. certain\npercentage of the management fees will be shared with Cook Protocol platform for\nthe usage of our platform<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Good structure &#x1f44d;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>so we provide a platform where fund managers can\nget liquidity from investors and advanced trading tools<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Everyone will be in profit&#x1f609;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>yeah, it&#8217;s a typical marketplace design, where we\ncharge the supply side not the demand side suppliers are fund\nmanagers for providing the service<\/p>\n\n\n\n<p><strong>Gold\nRocket | Satoshi Club: <\/strong>win-win!<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>demand is the investors that demand investment\nservice<\/p>\n\n\n\n<p>Yeah<\/p>\n\n\n\n<p>and usually a good marketplace always\nstarts with the supply side first and then demand side will come after<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>That&#8217;s right &#x263a;&#xfe0f;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>so that&#8217;s why we care a lot about our ecosystem of\nfund managers and will do a lot of curations to ensure quality<\/p>\n\n\n\n<p><strong>\u041c\u0430ry\nSatoshi CLUB: <\/strong>Thank you for your answers &#x1f44d;<\/p>\n\n\n\n<p><strong>K P:\n<\/strong>yeah that&#8217;s my answer<\/p>\n\n\n\n<p><strong>\u041c\u0430ry Satoshi CLUB: <\/strong>I know that our members are waiting for the live part to ask questions &#x1f642;<\/p>\n\n\n\n<h2><strong>Part 2 \u2014 live questions from the Telegram community<\/strong><\/h2>\n\n\n\n<p><em><strong>Q1 from Telegram User<\/strong><\/em><em><strong> <\/strong><\/em><em><strong>@JuanSB07<\/strong><\/em><\/p>\n\n\n\n<p><em>Cook Protocol offers ease and convenience to\nattract investors to its platform. What are the different investment options \/\nplans that you offer? Are they really provided by fund managers and are they\ntransparent?<\/em><\/p>\n\n\n\n<p><strong>K P:<\/strong><strong> <\/strong><strong>So we plan to do three\nphases. At phase 1, we will mostly create investment strategies on our own.\nPhase 2 we will curate and select high quality fund managers. phase 3 we will open\nup to everyone. It will be more like free market economy at that point<\/strong><strong>&nbsp; <\/strong><em><strong><\/strong><\/em><\/p>\n\n\n\n<p><em><strong>Q<\/strong><\/em><em><strong>2<\/strong><\/em><em><strong> from\nTelegram User<\/strong><\/em><em><strong> <\/strong><\/em><em><strong>@Rmitch<\/strong><\/em><\/p>\n\n\n\n<p><em>Have you\nthought about your crypto life? Is it better than a traditional business?<\/em><\/p>\n\n\n\n<p><strong>K P:<\/strong><strong> <\/strong><strong>I would say we are still\nin the early days of crypto. I like to read history. Although I am not old\nenough to live those days, but it&#8217;s little bit like internet in the 90s. A lot\nof hype and a lot of over-promises on things that they could not do in 90s but\nthey could totally do in 2010s and a lot of massive funding. So I would say\ndefinitely it&#8217;s fun to live on the edge and upgrade fast<\/strong><em><\/em><\/p>\n\n\n\n<p><em><strong>Q<\/strong><\/em><em><strong>3<\/strong><\/em><em><strong> from\nTelegram User<\/strong><\/em><em><strong> <\/strong><\/em><em><strong>@JoanaZ<\/strong><\/em><\/p>\n\n\n\n<p><em>&#x2b55;<\/em><em>&#xfe0f;Speak\nus a little bit about security, considering that Cook Protocol was made to\nattract huge investors, do you have the enough resources to guard those funds?<\/em><\/p>\n\n\n\n<p><strong>K P:<\/strong><strong> <\/strong><strong>for fund security, we have\ndifferent measures in place. First of all, fund managers do not have withdrawal\naccess. They can only allocate funds. Also they need to whitelist the protocols\nthat they will interact ahead of time before anyone invests. After if they want\nto modify their access, they have to go through a DAO voting. In addition, we\nwill also require COOK tokens staking from fund managers, if they mal-behave,\ntheir tokens will get slashed. Lastly, we will have insurance to help mitigate\nrisks<\/strong><em><\/em><\/p>\n\n\n\n<p><em><strong>Q<\/strong><\/em><em><strong>4<\/strong><\/em><em><strong> from\nTelegram User<\/strong><\/em><em><strong> <\/strong><\/em><em><strong>@K2ice <\/strong><\/em><\/p>\n\n\n\n<p><em>Security is a difficult thing in DeFi as there\nhave been many different attacks like security, liquidity, and strategic\nattacks. How much do you prioritize security at Cook protocol and how difficult\ndo you think it will be to attack Cook protocol?<\/em><\/p>\n\n\n\n<p><strong>K P:<\/strong><strong> <\/strong><strong>this is about coding\nsecurity compared to fund security that I answered in the last question. So\nsecurity is the topmost priority for us. We have an awesome team from Google,\nYoutube and Dropbox. So we have high coding standards. We use battle-proven\nframework like OpenZeppelin. And we perform robust unit and integration\ntesting. Finally, we also do audit with the industry leading audit firms like\nCertiK and SlowMist<\/strong><em><\/em><\/p>\n\n\n\n<p><em><strong>Q<\/strong><\/em><em><strong>5<\/strong><\/em><em><strong> from\nTelegram User<\/strong><\/em><em><strong> <\/strong><\/em><em><strong>@Garrinepotter<\/strong><\/em><\/p>\n\n\n\n<p><em>The Cook Protocol\necosystem has two different levels of governance, please tell us about them<\/em><\/p>\n\n\n\n<p><strong>K P:<\/strong><strong> <\/strong><strong>one is on the Protocol\nlevel and COOK tokens will be used to manage protocol level governance. Then\nckTokens are LP tokens and fund-specific, therefore they will be used for\nfund-level governance<\/strong><em><\/em><\/p>\n\n\n\n<p><em><strong>Q<\/strong><\/em><em><strong>6<\/strong><\/em><em><strong> from\nTelegram User<\/strong><\/em><em><strong> <\/strong><\/em><em><strong>@Joshblaze<\/strong><\/em><\/p>\n\n\n\n<p><em>On what exchanges are you currently trading<\/em><\/p>\n\n\n\n<p><strong>K P:<\/strong><strong> <\/strong><strong>we are not listed yet. But\nwill be on Uniswap first and some other DEXes on HECO and BSC<\/strong><em><\/em><\/p>\n\n\n\n<p><em><strong>Q<\/strong><\/em><em><strong>7<\/strong><\/em><em><strong> from\nTelegram User<\/strong><\/em><em><strong> <\/strong><\/em><em><strong>@imrealsatoshi<\/strong><\/em><\/p>\n\n\n\n<p><em>How many tokens will you support for to asset\nmanagement?<\/em><\/p>\n\n\n\n<p><strong>K P:<\/strong><strong> <\/strong><strong>the specific number of\ntokens have not been determined yet, but we will initially only include the\nmajor tokens to ensure security. Later on, we plan to add smaller market cap\ntokens to add more potential returns given higher risks<\/strong><em><\/em><\/p>\n\n\n\n<p><em><strong>Q<\/strong><\/em><em><strong>8<\/strong><\/em><em><strong> from\nTelegram User<\/strong><\/em><em><strong> <\/strong><\/em><em><strong>@KhaleesiTheCryptoLady<\/strong><\/em><\/p>\n\n\n\n<p><em>What task do we need to do and which\nprograms&nbsp; we should participate for us to\nget Cook tokens? <\/em><\/p>\n\n\n\n<p><em>@kp_cook<\/em><\/p>\n\n\n\n<p><strong>K P:<\/strong><strong> <\/strong><strong>we will launch a meme\ncontest in our community pretty soon, like today or within a day. So that&#8217;s one\nexample of programs. But join our telegram to learn more\nhttps:\/\/t.me\/cook_english<\/strong><em><\/em><\/p>\n\n\n\n<p><em><strong>Q<\/strong><\/em><em><strong>9<\/strong><\/em><em><strong> from\nTelegram User<\/strong><\/em><strong><em>\n<\/em><\/strong><em><strong>@BlancaSdF<\/strong><\/em><\/p>\n\n\n\n<p><em>&#8220;IP protection: No need to open-source\ninvestment strategies&#8221;<\/em><\/p>\n\n\n\n<p><em>Can you better explain this feature? I did not\nunderstand very well what exactly this refers to<\/em><\/p>\n\n\n\n<p><strong>K P:<\/strong><strong> <\/strong><strong>so the code will be\nopen-source and everyone can read it and fork the codebase. However how the\ninvestment strategies that each individual fund manager adopts is kept private\nto themselves. Their asset allocations and transaction history will be\ntraceable on the blockchain. But the why part of their asset allocation\nphilosophy will not be published<\/strong><em><\/em><\/p>\n\n\n\n<p><em><strong>Q1<\/strong><\/em><em><strong>0<\/strong><\/em><em><strong> from\nTelegram User<\/strong><\/em><em><strong> <\/strong><\/em><em><strong>@surendra040<\/strong><\/em><\/p>\n\n\n\n<p><em>Hello!<\/em><\/p>\n\n\n\n<p><em>@kp_cook<\/em><\/p>\n\n\n\n<p><em>Cook protocol announced a recent strategic\npartnership with DUCKDAO, tell us please about background of Duckdao, is it\nsimilar to project cook protocol&nbsp; and\nwhat benefits would be gained from this partnership.<\/em><\/p>\n\n\n\n<p><strong>K P: sure. So duckDAO is a community based accelerator program for crypto projects. They are very well connected in the industry and have incubated quite some successful projects. What we gained from the partnership is their advice on marketing and overall strategies. Also, they introduced to quite some strategic partners. So far, we have announced duckDAO, Velas, Poolz strategic partnerships. They all add a lot of value to our project. And we will have many more to be announced in the upcoming few weeks.<\/strong><\/p>\n\n\n\n<h2><strong>Part&nbsp;3&nbsp;\u2013 Quiz Results<\/strong><\/h2>\n\n\n\n<p>In the final part we tested your knowledge in terms of Cook Protocol. They\u2019ve prepared 4 questions for this part. The total reward pool for quiz was 300$.<\/p>\n\n\n\n<p><strong>For more information and future AMAs, join our Social Media channels:<br><\/strong>English Telegram group:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/t.me\/Satoshi_club\" target=\"_blank\">https:\/\/t.me\/Satoshi_club<\/a><br>Russian Telegram group:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/t.me\/satoshi_club_ru\" target=\"_blank\">https:\/\/t.me\/satoshi_club_ru<\/a><\/p>\n\n\n\n<p>Spanish Telegram group:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/t.me\/satoshi_club_spanish\" target=\"_blank\">https:\/\/t.me\/satoshi_club_spanish<\/a><br>Telegram Channel:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/t.me\/satoshi_club_channel\" target=\"_blank\">https:\/\/t.me\/satoshi_club_channel<\/a><br>Twitter:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/twitter.com\/realsatoshiclub\" target=\"_blank\">https:\/\/twitter.com\/realsatoshiclub<\/a><br>Website:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/esatoshi.club\/\" target=\"_blank\">https:\/\/esatoshi.club\/<\/a><\/p>\n\n\n\n<p><strong>Our partners:<\/strong><\/p>\n\n\n\n<p>Telegram Group:   <a href=\"https:\/\/t.me\/cook_english\">https:\/\/t.me\/cook_english<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Educational task of Satoshi Club drives us to acquaint you with all new projects. We were delighted to welcome our guest from Cook Protocol. The AMA took place on March 17th, 2021 and our guest was @kp_cook. The total reward pool was 500$ and was divided into three parts. In this AMA Recap we will [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":7436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7052"}],"collection":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/comments?post=7052"}],"version-history":[{"count":3,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7052\/revisions"}],"predecessor-version":[{"id":7437,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/posts\/7052\/revisions\/7437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media\/7436"}],"wp:attachment":[{"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/media?parent=7052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/categories?post=7052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/satoshi-club.esipick.com\/index.php\/wp-json\/wp\/v2\/tags?post=7052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}