Hello everyone, today I will be reviewing about DeFi asset management platform built on top of the Ethereum blockchain called the Cook Protocol. It establishes a platform that is suited to diverse investors and asset management service providers.
The Cook Protocol platform
The Cook Protocol platform allows investors to choose the appropriate investment options provided by fund managers while guaranteeing safe, transparent and high quality asset management services with long-term positive impact. Cook Protocol provides investors with a convenient and easy-to-use interface and professional investment asset management tools. Cook Protocol platform, create funds, set up investment strategies to attract investors and use the platform tools to implement these investment strategies.
It is important to note that the Cook Protocol aims to be a platform that meets the needs of a wide range of investors and fund managers, while remaining a reliable and transparent platform. To obtain information on prices, in order to determine the total value of the fund, the price of the ckToken, the valuation of assets deposited by investors, Cook Protocol uses several Oracle services, such as Chainlink, Band Protocol, Uniswap Oracle.
How Does Cook Protocol Works ?
Having chosen the appropriate option, investors need to send cryptocurrencies to the appropriate smart contract to receive the ck Tokens, which is the percentage of ownership of the investment fund. Investors receive Cook Tokens in proportion to their contribution to the fund, which they can sell or exchange for an equivalent asset at any time. Smart contracts guarantee the safety of funds and transparency of assets by limiting the access of fund managers. Each fund on the Cook Protocol platform has a corresponding smart contract and a dedicated ck Token to represent ownership.
For each investment fund, the manager is granted the appropriate permissions in accordance with the smart contract, which allows users to allocate funds to white-listed DeFi protocols such as Compound or Uniswap. The fund manager receives remuneration for managing the assets. Fund managers and investors can offer lending services for their funds, which can bring additional profits to their funds by collecting interest. The risk is zero, and the loan repayment is guaranteed thanks to the atomic transaction function of the blockchain. The Cook Protocol is managed by COOK token holders who propose and vote on changes to the protocol. That is, the COOK token is a governance token that allows its holders to determine the future of the Cook Protocol.
Benefits Of Cook Protocol :
- Composability : Each fund in the Cook Protocol platform has a corresponding smart contract and a fund-specific ck Token to represent ownership. Since each type of ck Token complies with the ERC-20 standard, ck Tokens can be composed of other ck Tokens.
- High Liquidity : . High liquidity of ERC-20 tokens allows investors to redeem ck Tokens for the underlying assets.
- Gas Saving : With Cook Protocol, users only need to pay transaction fees on a single transaction for the underlying assets, which will lower the gas costs.
- High Capital Efficiency : Cook Protocol platform has a list of smart pools and customized funds that allocate assets and optimize the yield automatically to maximize returns. In addition to multiple tokens that investors will be able to mine, they will be able to earn additional COOK tokens on selected funds.
More Information About Cook Protocol
Website: https://www.cook.finance/
WhitePaper : https://www.cook.finance/wp-content/uploads/2021/02/Whitepaper.pdf
Twitter: https://twitter.com/cook_finance
Telegram: https://t.me/cook_english
Youtube : https://www.youtube.com/channel/UCGiAQqspfq9LE0XgFlywN7w
Linkedin: https://www.linkedin.com/company/cook-finanace/
Reddit: https://www.reddit.com/r/CookProtocol/
GitHub: https://github.com/CookFinance
AUTHOR
Bitcointalk Username : mdyakeen
BitcoinTalk profile link : https://bitcointalk.org/index.php?action=profile;u=2205582
POA : https://bitcointalk.org/index.php?topic=5312950.msg56215783#msg56215783
