CAPITALB AMA Recapitulation- Ooki Protocol

5 min readDec 14, 2021

Guest : Paris From Ooki Dao

AMA Host : Sabith CEO -Founder of CapitalB

Introduction

Hello Everyone This is Paris from the OOKI DAO, I handle mostly operation, marketing and a bit of product/everything for the DAO. Could not be more excited to be launching our new token shortly and for all our upcoming features!

Questions From Community

Q) What is the main idea behind OOKI PROTOCOL and why you felt defi needed it ?Also list out the usecases.

Answer : Paris | Ooki:
Sure,

The main idea behind Ooki is a true gateway to DeFI, we aim to be a place where users can preform almost all actions they would want to do all within one app. Ultimately we aim to compete with CEX counterparts.

Users of Ooki can

- Trade in a fully decentralized way up to 15x leverage on ooki.com/trade

- Lend to earn crypto while they sleep as interest on ooki.com/lend

- Borrow against their existing crypto with solid rates on ooki.com/borrow

- Stake OOKI tokens to earn a % of all fees generated by the OOKI procotol at ooki.com/stake

These are just a few of the current features, we have much more to offer such as NFT’s a shop and many exciting upcoming features such as Ooki PRO which will include limit orders!

Done

Q2) Your borrowing platform has some really unique features stress a bit on it especially partial liquidation explaining in detail the working of the same?

Answer : Paris | Ooki:
Ooki is a friendly protocol from the bottom up, especially when it comes to the user experience of trading and borrowing, a feature that seperates Ooki from a CEX think Binance/FTX/Bitmex is partial liquidations.

There’s no reason for traders to be fully liquidated if their position goes under margin maintenance. Instead, traders are liquidated such that margin maintenance is brought from 15% to 25%. This reduces slippage, protects lenders, and allows traders to maintain their exposure.

It is a much more forgiving mechanism and protects user during a period of market volatility.

Done

Q3) You have a shop feature in place as well so right now what all continents are you covering and how does the shopping feature benefit the OOKI ecosystem?

Answer : Our Shop was just recently launched at shop.ooki.com

We wanted to do something unique for our community and offer more than just DeFI products, with some material ones as well :)

The shop covers all continents, and will be exclusive in nature after these first few pieces are sold out. We plan to make some unique exciting collaborations, the first already released being OOKI x Jerboa.

The shop is a way to give back to the community members and them looking fresh of course ;)

Here are a few items from the shop available now at

https://shop.ooki.com/collections/ooki-x-jerboa-athens

Done

4) Can users submit market limit orders and stop orders on Ooki? & Can users add any token or trading pair and use it for leverage trading with permissionless listings?

Answer : Paris | Ooki:
Right now, all orders on Ooki are market orders. But in the not so distant future we will have Ooki PRO Soon(TM).

Ooki pro will allow users to have limit orders and stop orders!

Permissionless listings is another feature that our devs have been grinding away on, it will allow users to add any of their favorite assets to Long/Short Trade on Ooki. It is a unique feature that the OOKI DAO aims to be the first to truly offer in DeFI 🙂

done

Q5) Your token will start trading on 18th December so can you share in the contract address, recommended slippage , listing Dex/Cex ?

Answer ; Paris | Ooki:
To clarify, our token swap + migration will be on the 18th, users can migrate on our in-app portal at -

https://ooki.com/token-migration

Contract: 0x0de05f6447ab4d22c8827449ee4ba2d5c288379b

If you are on a CEX trading BZRX/OOKI (Binance/Gate.io)

The swap will happen automagically for you 🙂

If you would like to learn more about the OOKI token, checkout our in app page!

https://ooki.com/dashboard/our-token

Done

Live Community Questions & A

Q1) Ambassadors play a very important role in every project, Do you have an ambassador program? If yes, how can I be one ?

Answer : Not yet, but we plan to roll out more social features, do come join our community at https://t.me/ookitrade

Q2) Is your platform a global or is there any restriction to certain regions?

Answer : Global of course 🙂

Q3) How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Vietnam, Indonesia, Thailand, Korea,.. so they can better understand your project?

Answer : We have our landing page at hello.ooki.com translated to Korean/Japanese.

We plan to support more languges and in-app translations soon!

Q4) Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? can you share it with us?have a YouTube channel or something? can you share it with us?