We’re back with another weekly P-Rep Profile. Just joining the P-Rep election race a month ago, Cobo, a leading crypto wallet helping users grow their digital assets, is here to tell ICONists a little more about themselves and their ambitions for the ICON network.
1. Tell us about your team
Cobo aims to be a one-stop shop for everything related to digital assets. As a company, we emphasize long-term security, reliability, and convenience. Our key products and services also reflect that vision. We offer a secure mobile wallet (Cobo Wallet), high-end cold hardware wallet for advanced users (Cobo Vault), and custodial services for institutional investors (Cobo Custody).
Cobo Wallet is our flagship mobile wallet and we are proud to be the first to support pooled staking. Our wallet aims to make it easy for people to grow and manage their crypto. We offer native staking for dozens of PoS projects, an integrated DApp store, and full support of Lightning Network.
2. Why would you like to become an ICON P-Rep?
As the first mobile wallet in the world to support Proof-of-Stake (PoS) and masternode rewards, Cobo has already been running nodes for various PoS projects. ICON Network is one of the largest blockchain networks in the world. We believe that supporting ICX and native ICX staking in our wallet will bring a lot of value to our 1,000,000 registered users.
3. Why should the voters vote for YOU?
The most important problem of PoS mining for users is how to ensure the security of their principal, e.g the principal won’t be attacked, their hot wallets won’t lose assets, and assets will be secure when they are in charge of private keys. So for Cobo, we have adopted a very typical solution of HSM encryption and put most of the assets on the cold-end. Our future cold-end hardware wallet will also support staking.
The second point is that users care about liquidity risks. Because PoS cryptocurrencies are generally locked-in for a long time, some users may not be able to use this asset when they need it when there are sharp price fluctuations. Liquidity risks may outweigh the PoS returns. To combat that, Cobo will provide a series of derivative services to meet users’ liquidity needs so they can improve their asset liquidity.
To sum up, there are two main reasons to vote for us. The first is that we will ensure the security of users’ principal, and second to improve the liquidity of their assets. Additionally, we will further reduce operating, server, and commission costs, so that users can maximize benefits.
4. What do you like about ICON? What sets it apart from other blockchain platforms?
ICON’s token economy design does not regard itself as the protagonist but retreats to the back. Bitcoin, Ethereum, NEO, and all kinds of blockchain nodes can participate in the ICON network, but also have the right to vote and decide. We all work together to maintain the ICON community.
5. How do you envision a decentralized ICON network? Why is decentralization important?
A decentralized ICON network would let everyone in the ICON network easily interact with DApps, smart contracts, and wallet addresses, increasing acceptance and availability among the people, thus promoting the development of the ICON ecosystem.
As to Cobo, we’re trying our best to ensure further decentralization. We first want to lower the threshold of staking, so that more people can participate in and enrich the staking ecosystem.
Secondly, Cobo Wallet provides very simple Cloud wallet staking options and a more complex HD wallet staking mode, where users control the private keys and stakes by themselves. We provide a one-stop staking solution to blockchain users of different levels of expertise. They can share their opinion about the blockchain by participating in voting and community governance through our HD wallet.
Get to know Cobo in more detail by reading their full proposal on icon.community. If you’re a P-Rep candidate and would like to be featured next, send us your answers to the above questions via email at email@example.com.