Avalanche is adding another new feature to its ecosystem. This time, they are working with Cook Finance to bring asset management tools to AVAX users. Individuals can use these tools, too. However, these tools are for money managers.
About Cook Finance
Cook Finance is a DeFi asset management platform. Their tools allow professional money managers to use Cook’s indices or create their own. Institutional investors need trading tools and benchmarks. Cook provides both with their index and features like trading with leverage.
Cook Finance now has 5 blockchains they work with. Besides Avalanche, they work with:
- Ethereum
- BSC
- OEC (formerly OKEx Chain)
- and HECO
Most investors don’t want to isolate themselves to only one chain. That’s especially true of institutions that go where the returns are regardless of the chain. With the five chains Cook works with, they can dominate cross-chain and cross-asset management.
And Avalanche hopes to get more than their share of this activity too. Now that investors can work on their chain as well as the two largest for DeFi: ETH and BSC, Avalanche hopes to attract more assets to their platform. They expect (probably rightly) that some of those ETH and BSC assets can make their way over to Avalanche.
AVAX and COOK Price Activity
At publication time, $AVAX trades at $123 with a circulating supply of 223.8 million. Their market cap is $27.5 billion, currently the #11 highest value cryptocurrency.
$COOK is trading 8% higher at $0.00733 on the news. They have a circulating supply of 531.9 million at a market cap of $3.9 million. Their total supply is 10 billion, thanks to our friends at Coingecko.
