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Cooking (⏲️, ⏲️)
Cooking is the secondary value accrual strategy of URAMAKI. When users cook $MAKI tokens, they are actually selling their ingredients in order to buy a recipe from the protocol. Cooking actions are a cross between a fixed income product, a futures contract, and an option. The protocol quotes the Chef with terms for a trade at a future date. These terms include a predefined amount of $MAKI, the Chef will cook, and the time when vesting is complete. The bond becomes redeemable as it vests. I.e. in a 5-day term, after 2 days into the term 40% of the rewards can be claimed.
Cooking is an active, short-term strategy. The price discovery mechanism of the secondary recipe market renders recipes discounts more or less unpredictable. Therefore cooking is considered a more active investment strategy that has to be monitored constantly in order to be more profitable as compared to staking.
Allowing users to purchase recipes through cooking, allows URAMAKI to accumulate its own liquidity. We call our own liquidity POL. More POL ensures there is always locked exit liquidity in our trading pools to facilitate market operations and protect token holders. Since URAMAKI becomes its own market, on top of additional certainty for URAMAKI investors, the protocol accrues more and more revenue from LP rewards bolstering our kitchen.