We have aimed since our inception to make it easy for both new and experienced users to benefit from DeFi. We want to develop an infrastructure that is easy to understand and smooth to navigate. One where even new users can reap the benefits that the world of DeFi has to offer.
In alignment with this vision, we are developing and offering multiple use cases for Cook Protocol and the $COOK token.
In August 1492, Christopher Columbus set sail from Spain and landed in the American continent, which marks the beginning of the Age of Discovery and modern history. In reference to this historical event, we decided to call our first Staking Program “Voyage to the New World”. It is our “First Voyage” to the New World of DeFi.
We are therefore extremely delighted to announce the launch of two new staking pools under the “Voyage to the New World” program. This program is developed keeping in mind the preferences of new users in the crypto space. But we have also ensured that even the most experienced users can take maximum advantage of these programs.
While there are many staking pools in the DeFi world, ours seek to be more welcoming towards users with any level of technical understanding. Because that’s what crypto is supposed to be — a currency and ecosystem everyone can benefit from.
Here are the details of the staking pools for $COOK:
Pool 1: Seville
Cook Staking pool with 60 days lockup
Initial COOK rewards: 609885.37 COOK tokens per day
Mechanism: stake cook, get more cook
Full maturity period: 60 days
Start date: April 5th at 9pm PST
End date: June 28th at 9pm PST
APY: up to 1500%
Reward vesting period: 14 days
Pool 2: Lisbon
Cook Staking pool with 30 days lockup
Initial COOK rewards: 261351.54 COOK tokens per day
Mechanism: stake cook, get more cook.
Full maturity period: 30 days
Start date: April 5th at 9pm PST
End date: June 28th at 9pm PST
APY: up to 1000%
Reward vesting period: 14 days
Instructions to Stake
To participate in either of the pools to earn rewards, please follow the steps below:
Step 1: Go to COOK token page https://www.token.cook.finance/#/cookpools
Step 2: Click on “Connect Wallet” and choose the wallet you want to connect with
Step 3: Choose from the two staking pools and click on Stake button
Step 4: Enter the amount you want to stake, click Approve, and then confirm the transaction from your connected cryptocurrency wallet
Step 5: Once the transaction is confirmed, add your tokens to the pool and rest assured about the incoming rewards after the vesting period.
Instruction to Zap
In addition, for early investors who own $COOK from the Cook Token Distribution, we are giving you the option to onc-click zap $COOK so that you can easily earn $COOK rewards. In other words, instead of claiming and then staking $COOK, you can move your claimable (or unlocked) $COOK tokens to your preferred Cook Staking pool to start earning $COOK immediately to save gas fees.
Here are the steps to zap your $COOK:
Step1” Please go to https://www.token.cook.finance/#/distribution/ and connect your wallet
Step2: Click “Zap Cook Mining” button and choose the pool you want to stake with on the pop-up
Step 3: Enter the amount you want to stake, click Approve, and then confirm the transaction from your connected crypto-currency wallet. Please note that only unlocked $COOK from distribution can be used to Zap Cook Mining.
Here are some points you must note related to the staking programs:
1. The rewards for each of the pools will be distributed with a vesting schedule. You will have to “Harvest” those rewards to start the vesting schedule. The rewards will be vested over a 14-days period. For every two days, you can claim the already vested rewards.
2. If you put your tokens in a pool with lock-up, you will only be able to withdraw your tokens once the lock-up period is over. If you stake multiple times in the same pool, each staking will have its own lock-up schedule.
3. We are expecting a huge demand for the staking pools. Also the rewards will reduce by 20% for every two weeks. So, the earlier you stake, the more rewards you will earn.
We hope you have a great experience staking your $COOK tokens. If you have any queries regarding our programs, feel free to reach out to us.
