Cook Protocol Enables COOK Staking on Binance Smart Chain and HECO
We are always listening to what our community tells us. Recently, we saw an increasing number of our community members showing interest in staking $COOK on the Binance Smart Chain (BSC) and Huobi Eco Chain (HECO). So, we listened and acted.
Not very long ago, we announced our new staking program dubbed “Voyage to the New World” that was tailored for both new and experienced crypto users. Enabling COOK staking on BSC and HECO is the continuation of our effort to bring a wider section of our community to stake $COOK tokens.
Before the Portuguese and Spanish explorations in the fifteenth centuries, Italian city states Genoa and Venice had started to explore maritime trade routes to the East. After the Portugueses and Spanish explorers, Dutch and English explorers followed. In reference to these historical events, we decided to use the names of the ports that these explorers departed as the names of the staking pools. We are departing from more ports like Venice, Genoa, London and Amsterdam to explore the New World of DeFi.
We are therefore extremely delighted to announce the launch of four new staking pools under the “Voyage to the New World” program. COOK staking is now enabled on Binance Smart Chain (BSC) and Huobi ECO Chain (HECO). COOK holders will now be able to stake their tokens across the three major blockchain networks, ETH, BSC and HECO.
Here are the details of the staking pools for $COOK:
BSC Pool 1: London
Cook Staking pool with 60 days lockup
Mechanism: stake cook, get more cook
Full maturity period: 60 days
Start date: April 10th at 10am PST
End date: July 3rd at 10am PST
APY: up to 1500%
Reward vesting period: 14 days
BSC Pool 2: Amsterdam
Cook Staking pool with 30 days lockup
Mechanism: stake cook, get more cook.
Full maturity period: 30 days
Start date: April 10th at 10am PST
End date: July 3rd at 10m PST
APY: up to 1000%
Reward vesting period: 14 days
HECO Pool 1: Venice
Cook Staking pool with 60 days lockup
Mechanism: stake cook, get more cook
Full maturity period: 60 days
Start date: April 10th at 10am PST
End date: July 3rd at 10am PST
APY: up to 1500%
Reward vesting period: 14 days
HECO Pool 2: Genoa
Cook Staking pool with 30 days lockup
Mechanism: stake cook, get more cook.
Full maturity period: 30 days
Start date: April 10th at 10am PST
End date: July 3rd at 10am 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, if you want to stake the Cook rewards obtained in the staking pool again, you can use the Zap function of the stake pool. In other words, for “harvested” (after 14 days of reward vesting period and converted to available to Claim / Zap) Cook, you can directly stake those reward. In this way, you can save one transaction(original : Withdraw + stake as two transactions, with Zap -> direct stake reward, one transaction)
Here are the steps to zap your fully harvested COOK reward:
Step1” Please go to https://www.token.cook.finance/#/cookpools/ and connect your wallet
Step2: Click “Zap” button in Cook Mining page and select the staking pool you want to Zap with the harvested cook reward. Please note that the harvested reward can only be zapped into the same pool.
Step 3: Enter the amount you want to stake, click Zap, and confirm the transaction status in the wallet you are connected to. Please note that you can only stake the vested Cook rewards.
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.
