Find out more about CryptoCookies
There are different ways to fund your wallet to interact with CryptoCookies, this is the simplest method.
The steps are the same for Avalanche and Binance Smart Chain, but they are different blockchains so the tokens are specific to each blockchain.
For Avalanche:
Step 1. You need to buy Avalanche’s token AVAX from your crypto exchange (eg Coinbase, Binance).
Step 2. You need to send the AVAX from the exchange to your MetaMask wallet address.
Keep a small amount, say $10, worth of AVAX in your wallet for the blockchain gas fees. These gas fees are used to pay to make the blockchain work.
Step 3: Use the Swap function in the MetaMask wallet to convert the rest of your AVAX to the USDC stablecoin.
You will pay for your Cookie with USDC and then MetaMask will use your remaining (eg $10) AVAX to pay gas fees.
For Binance Smart Chain:
Step 1. You need to buy Binance’s token BNB from the Binance exchange.
Step 2. You need to send the BNB from the exchange to your MetaMask wallet address.
Keep a small amount, say $10, worth of BNB in your wallet for the blockchain gas fees. These gas fees are used to pay to make the blockchain work.
Step 3: Use the Swap function in the MetaMask wallet to convert the rest of your BNB to the BUSD stablecoin.
You will pay for your Cookie with BUSD and then MetaMask will use your remaining (eg $10) BNB to pay gas fees.
CryptoCookies is a blockchain trading platform allowing you to trade crypto options without hassle. With CryptoCookies, you can benefit from moves up or down; youcan hedge your position, leverage your view, or gain yield. The steps are simple: Choose your Cookie (how far from the market you want to be), market direction, and if you believe it will get there (or not) by the finish date. Then, the smart contract will create an option and leave the transaction up to the blockchain.
We think trading options can be fussy and over-complicated, so we've set out to change that. CryptoCookies is a blockchain trading platform enabling you to leverage, hedge and generate income without hassle. Simple to register; no account needed.
CryptoCookies are blockchain smart contracts that are fully collateralized, on-chain options. They automatically settle transactions based on our purpose-built oracles, which use prices from third-party exchanges such as Coinbase and Deribit. The contract is non-custodial; doesn’t need an account, and all transactions take place on the blockchain from your own wallet. Every buy, sell, and settlement is visible on each of the blockchains via blockchain explorers like etherscan.com. CryptoCookies have numerous benefits over on-exchange products. They do not have leverage, you will never have a position liquidated when prices move against you. The risk you take is limited; you will only lose the amount you stake for a transaction. But be sensible, and keep the amounts you transact affordable for you.
Each Cookie relates to proximity from the current market price and can help you map your view on the direction and distance of the next move. Lucky is the closest to where the market is now and more likely to be above or below at the end of your timeframe. The Fortune Cookie is a medium distance from the market, while the Jackpot is the furthest away. If you have ticked 👍 the Fortune Cookie will offer the most reward but is the least likely to be above or below at the end of your timeframe.
We have created the blockchain technology behind the Cookie Cosmos to replicate the complex world of exchange-traded options. In the Cookie Cosmos, 👍 is the equivalent of buying an option. On the other hand, 👎 is the equivalent of selling an option. Check out the different scenarios here from the people in the Cookie Cosmos https://cryptocookies/why-crypto-cookies
Yes, you can close your Cookie anytime, simply find it in the Cookie Jar and press the close button. Your wallet will prompt you to sign the close request and send it to the CryptoCookies smart contract.
Cookie prices are available 24/7 - except for 10 minutes either side of the daily deal expiry time and rollover at 8am UTC. During this time pricing will be intermittent.
The CryptoCookie smart contract is triggered to pay out or be paid depending on external price sources that our application uses. We use the Deribit index as our primary source but will fallback to backup public sources.
If you click the information icon on an expired deal in your Cookie Jar you will see the price source and value that was used to settle the deal. Our backup sources are currently CoinMarketCap, Gemini, Kraken and Coinbase.
We hope to move settlement fully on chain in future once suitable Oracles exist on each chain that can provide tamper-proof prices as at a specific point in time.
If your Cookie expires with a profit, the funds will be automatically sent to your wallet within 5-30 minutes.
Winning cookies will be paid out as soon as possible following expiry. This is normally 5-30 minutes after the expiry time.
Based on the minimum and maximum investment amount, they are currently between approximately $100 and $1000 USD depending on the published price. This will be constantly reviewed.
The blockchains we use to build the smart contracts are Ethereum mainnet, Binance Smart Chain and Avalanche. These offer a great combination of security, speed and cost. We also love that the Proof Of Stake blockchains like BSC and Avalanche are far more environmentally friendly than the Proof of Work chains like Bitcoin.
For Cookie transactions, you can use ETH, WBTC or USDC on the Ethereum networks, while on the Binance Smart Chain, you can use Binance's stablecoin BUSD, WBTC and ETH. Because blockchain transactions are irreversible, you can not transfer Cookies between blockchains.
CryptoCookies is not an exchange, so if you want to swap some ETH for USDC, for example, you can do so in your MetaMask wallet or by using a crypto exchange and sending the token to your wallet. Check this article on Medium for details of how MetaMask can do the swaps for you.
There are risks in any financial or crypto trade. In the case of CryptoCookies, when you are wrong, you lose the amount you put up for the transaction. All blockchain transactions are completely irreversible, so it cannot be undone when you do a transaction. We don’t store your assets, you do this in a wallet like MetaMask. We recommend following MetaMask’s security tips:
https://metamask.zendesk.com/hc/en-us/articles/360015489591-Basic-Safety-and-Security-Tips-for-MetaMask
Remember to keep your private keys and passwords completely secure; never give them to anyone, ever! CryptoCookies is a piece of smart contract code; we do not have customers, we will never contact you. We will never ask for your personal details, passwords or private keys.
CryptoCookies currently supports MetaMask and WalletConnect. We recommend MetaMask if you don’t have an existing wallet, as it can create a wallet for you. WalletConnect supports many different types of wallets. If you have an existing 3rd party wallet, check if it supports WalletConnect.
MetaMask
WalletConnect
When you do a Cookie transaction, you accept our terms and conditions. These include the understanding that CryptoCookies is an “as is” product, and we offer no warranties. Also, by transacting, you are confirming that you are not located, incorporated or otherwise established in a citizen or a resident of and other countries below:
Canada - Ontario.
Cuba
Guam
Iran
Iraq
Japan
Democratic People’s Republic of Korea
Panama
Puerto Rico
Samoa
Sudan
Syrian Arab Republic
United Kingdom
United States
Virgin Islands (US)
Users may set up Telegram or other groups to build a community. But remember, we will never contact you. Never give your private keys to anyone.
Security is our one of our highest priorities and we have focused on building something that is safe and dependable. CryptoCookies is audited by Hacken and you can find the report here. All smart contract code is publicly verifiable. We remind our users to be mindful of risk, cautious where they put their money and only use funds they can afford to lose.
The CryptoCookies system is completely self contained and programmed to be over-collateralized at all times. The CookieHolder contract on each chain contains ten times the maximum risk in the system. By maximum risk, we mean the highest payout if the underlying price were to go to zero or infinity (it can’t do both!). The system will stop taking new positions if a new trade were to breach these risk constraints; we call these “pre trade checks”.
By looking at the Treasury Page, you can see the worst case risk that the system has per contract address in the section called “min settlement”. In this way, the user can verify that the system is substantially over collateralized at any point.
