Cook Finance
  • Welcome to COOK Finance
  • OUR MECHANICS
    • POT
    • $COOK
    • Cookbook
    • Ladle
    • Gas
  • OUR DAPP
    • The kitchen
    • Grocery
  • Economic
    • Bank
    • FSIS
  • Disclaimer
    • Disclaimer
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  1. OUR MECHANICS

$COOK

Native utility token of Cook.

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Last updated 1 month ago

$COOK is the native ERC-20 token of COOK Finance.

You use your $COOK to buy pot or buy in-game perks assets.

Where can you buy $COOK?

There are three main ways to buy $COOK token:

  • Bonding: Acquire $COOK at a discount by bonding with either LP tokens or listed token.

  • Market: Using the Decentralized Exchange (DEX):

  • Reward: Get the produced $COOK from your pot

$COOK Supply

$COOK has an initial supply of 775 000 tokens.

Distribution:

  • Private sale: 250000

  • Public sale: 250000

  • LP: 100000

  • Vested Team: 100000 (Vested for 6 months)

  • Marketing: 75000

  • Reward pool: 225000

Why did we not mint the Reward pool tokens? Well we decided for the sake of the protocol health to use a burn/mint mechanism instead. So no need for a reward pool.

The burn/mint mechanism is a better control over the supply.

When a user mints a new Pot/Cookbook/Ladle we burn 80% of the tokens, hence increasing the excess reserve of the treasury.

Having extra excess reserve allows the FSIS to mint new fresh $COOK when a Pot is claimed.

$COOK supply does not have a hard cap. Its supply increases when:

  • $COOK is minted and distributed to the cauldrons owners.

  • $COOK is minted for the bonder. This happens whenever someone purchases a bond.

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