POT
Yield Bearning NFT that produce $COOK
Last updated
Yield Bearning NFT that produce $COOK
Last updated
Pot ERC-721 are the best friends of our Chef
They are tradable: each pot is an NFT which generates yield in $COOK meaning that you’ll be able to gift it to fellow chef or trade in on third-party markets.
They are scarce: pot supply is hardcap at 50 000 and will be controlled in order to sustain the rewards. So you better rush to get those pot when they drop.
They evolve: a pot starts at level 1 with a base reward. You’ll then be able to level it up to increase the reward (APR) of your cauldron using .
But they are fragile: If you claim your produced $COOK out of the pot, it will explode and will not produce $COOK anymore! Unless…you use
There is two main ways to acquire Pot:
On the DAap shop using $COOK
On the secondary NFT Market
The pot is the flagship product of COOK Finance. How much money a pot makes? Let’s break it down!
The returns depend on the level. The formula is simple:
DailyReturn = BaseDailyReturn * CookFactor * Level
Let’s unpack each elements!
BaseDailyReturn: 0.2 $COOK/day, this is the return of a level 1 Pot.
CookFactor: Global yield control parameter, this factor is the lever the DAO can pull to increase or decrease the yield of all Pot. Minimum value is 1. Check for more info
Level: on-chain NFT attribute that defines it’s yield.
You get it, the best way to increase the yield is to level up your Pot. Therefore increasing your Daily return.
Let’s see how the level affect your yield:
With the BaseDailyReturn and a starting price of a Pot at 40 $COOK this corresponds to an APR of 182.5% for level 1 pot.
So 0.2 $COOK/ day. Now let’s take a level 10, you have a 2.0 $COOK/day The max level is 100 for a pot.
The hardcap of pot are 50 000. The pot will be released by small batches overtime.
Pot will be revealable. Revealing your pot will give you a chance to acquire super-receipt. More info to be announced soon.