Introduction

The Web3 world moves fast, and it can be hard to keep up. This is why we have services dedicated to keeping enthusiasts in the know. There are many decentralized applications (Dapps) in the crypto space. Although they are necessary for the space’s growth, there is a need for community-based services to help new and experienced traders navigate it. As they say, knowledge is power.

These services tend to be websites, but the project we are talking about today is doing more than that. Cobak is a crypto platform that does all we spoke about, but they have grown past just a platform with information.

A lack of information has kept several people from making heads or tails of the crypto world, this is the issue Cobak addresses. The project highlights the importance of community and the power of crypto.

What is Cobak?

Cobak is a community-oriented crypto platform that shares curated crypto information with its over 300,000%20of%2060%2C000%2C%20and%20cumulative%20app%2Ddownload%20of%20300%2C000.) user base. Essentially, Cobak feeds crypto traders and enthusiasts with the crypto information they need.

Cobak offers its users a blend of crypto news and public opinion. Users can do their research through news articles and community conversations. Another thing that sets the crypto community project apart is its mobile application, which most users use to access the platform.

With the app, users can see everything they need, and the great design of the app makes the process easier and more enjoyable. There is also a website where users can get information on laptops and desktops.

Cobak does not stop here; it also has a wallet and launchpad. The Cobak wallet has been a staple feature since it launched, but other functions came later. The wallet is compatible with ERC20 tokens, but who’s to say it can not hold more tokens soon enough?

History of Cobak

Cobak started as a simple dream to have a place where people who liked crypto could talk about it. It all began in 2018, and of course, there are other services where people spoke about crypto beforehand, like X (formerly Twitter). However, crypto is not the primary focus of apps like this. With Cobak, this was going to change.

Cobak launched in South Korea as a crypto discussion platform. Still, as time passed, they saw that there was more they could do, so they switched focus to making a system that allowed crypto enthusiasts to connect to blockchain tech easily. This meant putting crypto updates at users’ fingertips, and they have everything from a list of altcoins and their performance to a list of futures.

The Cobak team took things forward by adding a utility token and a governance token on which the platform runs. Cobak has come a long way from humble beginnings; it has come this far with a great leadership team steering it. The CEO is Kim Kyeong-ik, and with the stellar team working with him, Cobak has grown to be a high-flying crypto project in Asia and the world.

How Does Cobak Work?

Cobak is a community-focused project powered by the drones of people who come to the platform. They trust Cobak to provide them with the crypto information they need. Most Cobak users interact with the platform through its mobile application. The app can be downloaded on Android’s Google Play and Apple’s Play Store. However, Cobak still has a website users can use on the go or their desktop devices.

Cobak provides users with crypto news, giving them an edge. Now, they do not have to go into the vastness of the Internet to source information; Cobak brings everything to their screens.

The platform also has information about tokens and their performance, which Cobak users can quickly check before they take action on a token. Cobak also has a list of exchanges that users can link to once they decide on a token. With just one click on Cobak, users will be sent to a CEX or DEX of their choosing.

Another side to Cobak’s performance is its tokens. Cobak has a utility and governance token that work together to power the platform. These tokens are tradable and have considerable value. The utility token is used to reward users of the platform, and the governance token is used to represent a stake in Cobak’s governance. We will dive deeper into the mechanics of Cobak’s tokens in a different section of the article.

The Main Features of Cobak

With all that has been said about Cobak, it is safe to assume that it is one of the best crypto community platforms to come out of the Republic of Korea and soon to be the world. The project has garnered a lot of commendations thanks to its features. The features make the lives of crypto enthusiasts easy and experienced, and newer crypto fans swear by them. Some of these features are:

Market

Cobak is the one-stop shop for all things crypto, it even has a list of crypto markets for users to browse through. Cobak users are presented with a list of coins, exchanges, and futures. On the coin front, users can see a list of all registered crypto tokens, they can see how much each token is worth in KRW, BTC, ETH, and more. When they click on a token they can see its recent performance and are given a list of exchanges to take action on on the token.

With its exchanges page, Cobak gives its users a long list of exchanges to peruse. When users click on an exchange, they are given insight into it and can also see the list of tokens it supports. And then there are the futures. Cobak gives users insight into the futures market. Cobak users get to see the players in the futures markets, their current prices, outstanding contracts, and 24-hour volume.

Community Engagement

Cobak is first a community hub before anything. This is what it started with, and even as other features are added, the team still highlights the community-building aspect of the platform. In an attempt to build on this, Cobak has some features that serve this goal.

This first is the platform’s community hub, rightfully named “community.” Here, users can post their thoughts about the crypto world, and other users can interact with these posts. This fosters an environment where people can come together and bond. More credible posts are put in the “featured posts” section. Cobak also has a different page for actual news, so users can use that and public opinion to get informed.

Cobak also supports users who want to become crypto influencers with its “Cobak supporters” feature. Cobak also has Cobak Live, where users can join, solve quizzes, and get rewarded. This is a great way to gamify crypto education.

Launchpad

You could argue that Cobak cares so much about the crypto communities that it made an initial DEX offering (IDO) so users can easily transition from crypto enthusiasts to crypto founders. An IDO allows new projects to get funding from early investors before they launch to the public. Cobak called this feature a launchpad.

Wallet

Another feature of Cobak is its wallet. This is one of the features that Cobak started with. They wanted users to create wallets easily and start their crypto journey. The Cobak wallet is quick and easy to make and can hold ERC20 tokens (tokens on the Ethereum blockchain).

More than that, Cobak allows users to link other wallets to have all their wallets in one decentralized location. This way, asset management is simplified, and users can use their energy to reshape the crypto landscape. So far, Cobak has created well over 500,000 wallets.

CBK Starter - Launchpad

You could argue that Cobak cares so much about the crypto communities that it made an initial DEX offering (IDO) so users can easily transition from crypto enthusiasts to crypto founders. An IDO allows new projects to get funding from early investors before they launch to the public. Cobak called this feature the CBK Starter.

The projects that will benefit from this are taken from a project pool and to get into this pool users would have to stake or participate in governance. Each project in the pool gets a ticket allocation when they perform these tasks and the more allocations they get the higher the possibility of winning project tokens.

Cobak’s Dual Token System

Most projects have one token, usually a governance token or utility token. Cobak stands out as it has both of them. Cobak’s dual token system is built elegantly and looks even better now that it has been revamped with 2024’s Cobak V2.

The two tokens in the dual token system are CC and CBK. CC is Cobak’s utility token and is an internal token, meaning it can not be traded or used outside the Cobak platform. CC is used to reward contributors to the Cobak community. If you write a good article, you are paid with CC, not just any entry can get rewarded. This is the way CC is Mined. The only other way to get CC is by trading it for CBK. One CBK is worth 1000 CC. CC can also be traded for CBK.

The other token is CBK, which is Cobak’s governance token. It is an ERC 20 token built on the Polygon blockchain. CBK represents a stake in Cobak’s governance, and holders of CBK get to vote on the platform. This is not to say that CBK can not also be traded for profit; it can, but its primary use is governance. CBK is listed on popular centralized exchanged like Gate.io.

Tokenomics

CBK was created with a total supply of 100,000,000 tokens that were then equitably shared. The largest slice of the pie was allotted to the Cobak economy, which was allotted 33% (33,000,000). This is to ensure Cobak functions adequately. The second biggest slice of the pie was put up for the private sale of CBK tokens, which adds up to 30% (30,000,000).

Next, we see that 20% (20,000,000) of the tokens were allocated to DeFi rewards. DeFi Solutions might not be at the forefront of Cobak’s services right now, but according to their white paper, there are plans to expand. Coback has also allotted 15% (15,000,000) to its team and 2% (2,000,000) to its partners.

Take Action on CBK

If you are interested in and want to use the Cobak token, you can take action on it with a trusted centralized exchange (CEX) like Gate.io. Simply visit the CEX and search for CBK. You will find the CBK page, where you will see information on the token’s performance. With that information, you can choose what action you want to take on CBK.

News on Cobak

The headlines have been talking about Cobak’s roadmap for 2024. The roadmap shows all the cool things Cobak has in store for its users. Since the beginning of the year, Cobak has been working on its checklist.

In the First quarter, Cobak stated that they would start by looking at the dual token system’s planning and design, then work on a liquidity mining program, the last thing here is to create a beta version of their testing plan.

Next quarter, they will develop the dual token system and launch the liquidity mining program. In the third quarter, they will test the beta version we discussed and then roll out their DeFi protocol. In the last quarter, Cobak will review and tweak its milestones and improve its beta version.

Is Cobak a Good Investment?

The community-centered crypto project, Cobak, has a great feature lineup that makes it loved in South Korea and beyond. It is a space that accommodates both experts and newbies. With its news page, list of tokens and exchanges, wallet, dual token system, and more, Cobak proves that crypto enthusiasts need it. But investments can be tricky. We advise that you research on your own and then make your decision.