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What is COOL

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1. What is cool?

Cryptocurrency is a type of virtual currency that is based on blockchain technology. Here are its main features and principles:

  1. Medium of exchange and unit of account:

  2. Cryptocurrency can be used as a medium of exchange and unit of account; for example, Bitcoin has been accepted by some companies as a means of payment and for transactions.

  3. Blockchain technology:

  4. Cryptocurrency uses blockchain technology to ensure the uniqueness and security of each coin. A blockchain is a distributed ledger that records all transactions, preventing tampering.

  5. Mining:

  6. Cryptocurrency is generated through "mining," which requires electricity and computational resources. This process not only creates new coins but also validates transactions on the network to ensure security.

  7. Globally accepted and easy to store:

  8. Cryptocurrency can be traded and paid for globally at any time, without geographical restrictions or the need to convert to local currency.

  9. Low transaction costs and privacy protection:

  10. The transaction costs of cryptocurrency are relatively low and are not time-bound. Transactions are anonymous, with personal privacy protected through encryption technology.

  11. Limited issuance and protection against inflation risk:

  12. Cryptocurrency usually has a maximum issuance limit; for example, the total supply of Bitcoin is capped at 21 million coins, preventing inflation.

  13. Irrecoverable loss:

  14. If cryptocurrency is lost or stolen, it is difficult to retrieve, which is one of its risks.

In summary, cryptocurrency is a virtual currency based on blockchain technology, characterised by global accessibility, low transaction costs, and privacy protection, but it also has risks, such as price volatility and irretrievable loss.

2. Who founded cool?

The cryptocurrency COOL (Coolman's Universe) was created by artist Danny Casale. It is associated with the Coolman Coffeedan brand and is a MEME coin inspired by the fictional cool coin within the Coolman's universe.

3. Which venture capitalists invested in cool?

Here are some venture capital firms that have invested in cryptocurrency:

  1. a16z (Andreessen Horowitz): a16z is one of the most influential venture capital firms in Silicon Valley, particularly renowned in the blockchain and cryptocurrency space. They have invested in multiple cryptocurrency projects, including Coinbase and OpenSea.

  2. Lightspeed: The partner Jeremy Liu at Lightspeed invested early in cryptocurrency projects like Blockchain.com.

  3. Hack VC: Hack VC is a venture capital firm focusing on investments in cryptocurrency infrastructure, investing in projects like io.net, Initia, and AltLayer.

  4. Polychain Capital: Polychain Capital is a venture capital firm focused on cryptocurrency investments and has partnerships with firms like Hack VC.

  5. Dragonfly Capital: Dragonfly Capital is a crypto venture fund co-founded by Alexander Pack and Bo Feng, investing in projects like Basis and various cryptocurrency exchanges.

These venture capital firms invest in various sectors within cryptocurrency, including infrastructure, exchanges, NFTs, and DeFi.

4. How does cool operate?

How CoolWallet operates with cryptocurrency

CoolWallet is a hardware wallet (cold wallet) used for offline storage of cryptocurrency private keys, providing a secure storage and trading experience. Here are the key points of CoolWallet's operation with cryptocurrency:

  1. Secure storage: CoolWallet is a hardware device that stores cryptocurrency private keys offline, preventing hacker attacks and online risks.

  2. Trading experience: CoolWallet is integrated with Orderly Futures, providing users the ability to trade perpetual contracts directly in a decentralised wallet, ensuring security and control.

  3. Perpetual contract trading: CoolWallet supports multi-chain perpetual contract trading with leverage up to 50 times and offers secure deposit and withdrawal features.

  4. Enhanced liquidity: Through Orderly's shared liquidity model, CoolWallet provides ample liquidity and tighter bid-ask spreads.

  5. User-friendly interface: CoolWallet provides an intuitive trading interface powered by Orderly SDK, simplifying the process for users who use complex tools.

In summary, CoolWallet offers a secure and convenient way to store and trade cryptocurrency, particularly through perpetual contract trading.

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