When you beat someone's ass in something. When you comepletely give somebody or something the sauce, you ask if you are still cool.
Cam: Gets knocked the fuck out in UFC
Wade: We still cool right?
When someone gets piped so bad you have to check to make sure they are alright. Usually occurs when someone gets sauced in UFC.
Brendan: Gets knocked the fuck out in 6 seconds...
Wade: We still cool tho right?
When you lambaste a person and you want to make sure he’s still cool with you
Hey bro we still cool tho right?