AMARush Recap: Cook Finance
In order to connect Avaxholics with Avalanche-based projects, Avaxholic honorably represents AMA Rush Campaign. This is a big chance for Avaxholics to directly interact with and understand deeper about Avalanche projects, whether top tier projects or newcomers.
“Avaxholic — together we BUIDL”. Besides updating news, we’re upgrading more about data analytics — real time data and research about projects to help investors always be confident when investing in Avalanche Ecosystem.
We’re honored to welcome our guest today @adrian_peng from Cook Finance
Mr.Adrian | Cook Finance: Hello everyone! Glad to be here to share a few details about Cook Finance!
Avaxholic: Thank you. So that everyone doesn’t have to wait, let’s start the AMA
Would you mind introducing yourself, telling us about your background and the team working on Cook Finance?
Mr.Adrian | Cook Finance: Sure
My name is Adrian, I am CEO of Cook Finance. I graduated from UC Berkeley, and had been working for several silicon valley tech companies like Oracle, C3.AI and Google for many years. I quit Google last year and found Cook Finance. Other team members behind Cook comes from:
- Top notch universities like Stanford, Carnegie Mellon, Cornell
- Top companies like Dropbox, Morgan Stanley, Gemini
The team has both extensive technical development expertise and deep understanding of finance knowledge. And we all truly believe in passive investments like index funds. Our related experiences and having a similar vision for the future of DeFi indexes aligned us to develop Cook Finance, the revolutionary DeFi Index & strategy execution platform.
So excited to hear that
Let’s get into the first question
1. What are your business model? How does the project generate profit and revenue?
Mr.Adrian | Cook Finance: At current moment, Cook Finance doesn’t charge any fee in order to acquire new users. But in the near future, the team will implement a transaction-based platform fee structure. The fee amount will depend on the complexity of indexes and strategies. And this will become the main revenue stream of the project.
Avaxholic: well, that’s so impressive
I just wonder
What will the fee be?
oh okay, i depend on the complexity of indexes and strategies.
Mr.Adrian | Cook Finance: Yes, the number is still not determined yet, but it would be around 0.004% per transaction. If a index & strategy has 4 transactions, then the fee will be around 0.2%.
Avaxholic: SO, let move to deeper questions to learn about your project
2. Who is your biggest rival? In the future, does your project have a plan to beat your rival or cooperate with them?
Mr.Adrian | Cook Finance:
There are fewer competitors in index space compared to other DeFi categories. We are the first index & strategy execution platform ever launched on Avalanche. The biggest player in the space is Tokenset which is launched on Ethereum & Polygon.
Although we are competitors, as you notice we are in different chains, and we believe there is a big enough market in this category for multiple projects to co-exist, grow and even collaborate.
Avaxholic: Wow, Cook Finance is unique on Avalanche
Let’s get to the 3rd question
3. What makes your project more innovative and useful platform than other competing platforms?
Mr.Adrian | Cook Finance: That’s a great question
Cook Finance differentiate it from competitors in multiple aspects:
- Cook Finance index & strategy utilizes a warehouse receipt concept to protect it from being classified as security. This enables Cook Finance to have much higher chance to collaborate traditional financial institutions, helping them to participate in DeFi.
- Cook Finance supports yield bearing indexes which provides an easy way for average joe to participate in DeFi and catch the upside of DeFi farming while greatly reducing the downside by risk diversification
- Cook Finance supports issuance with a single token feature which allows investors to invest in indexes with just one button click.
- Cook Finance integrates with fiat on-ramp solutions to enable mass adoptions.
Avaxholic: Excellent work
All our members will now understand the scale of how big Cook will be and what you guys are focusing on
Let move on the next question
4. From an investor’s perspective, we really care about why the COOK token has devalued so much?
Mr.Adrian | Cook Finance: This is a question that many investors have concerns. To be fully transparent here, Cook Finance launched at th time when all the crypto investors hype about DeFi. And the demand for COOK token at IDO was extremely high while the supply was very limited. This leads to an unreasonably high token price at the beginning, and along with private sale allocation getting unlocked, the supply increases over time which leads to selling pressures. If you check other DeFi projects launched at the same time, you will find many of them has the same trajectory. The good news is that private sale allocation is close to fully vested and the team proves themselves to continue delivering products and create values for users. We believe eventually COOK price will reflect the value Cook Finance provided.
Your answer makes us feel secure and trust the project more
Last question for you today
5. How do you plan to spread awareness about your project in different countries to gain more users?
Mr.Adrian | Cook Finance: Marketing is a crucial part of a crypto project. Several top-tier influencers has already cover our product including:
- Altcoin Daily https://twitter.com/AltcoinDailyio/status/1468362684240318466
We are going to raise more awareness of our product with multiple approaches in different countries to gain more users:
- Influencers: sponsor influencers across the crypto space then broader financial areas
- Education: establish centers in each major city that will become education hub on ramps
- Partnerships: work with protocols, DeFi partners, CeFi institutions to create a vibrant and compliant index ecosystem.
- Conferences: establish presence at Consensys, Token2049, and major conferences to raise awareness
- Communities: setup ambassador program to get community engaged
Avaxholic: Great answer
Thank you @adrian_peng
It’s been amazing to have you here with us and to hear how much Cook Finace has progressed and worked.
Mr.Adrian | Cook Finance: Thank you @harvey9201 for hosting AMA and thanks everyone for your time to join AMA! Don’t forget to check out our DAPP https://app.cook.finance/overview and feel free to ask any extra questions you have at https://t.me/cook_english
FOLLOW US AND JOIN OUR COMMUNITY WILL BE THE BIGGEST SUPPORT FOR US. THANK YOU FOR READING THIS ARTICLE.
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