Cook Protocol Completes Token Distribution to 6,700 Holders After DuckStarter IDO
April 5, 2021
Cook Protocol, a cross-chain DeFi asset management protocol, has completed its initial decentralized exchange offering on DuckStarter and has successfully distributed the COOK token on three blockchains.
Cook Protocol is a decentralized platform for performing cross-chain asset management. The protocol allows anyone to create strategies for earning yield, which can be used passively by the Cook community. Fund managers have complete freedom in creating strategies and deploying them on multiple blockchains. Strategies can range from simple yield farming aggregation to advanced index funds and derivative-based trading systems.
Key to the success of Cook Protocol is COOK, a governance token that allows the community to modify important parameters of the protocol. Token holders can choose the strategies they wish to see, decide how much of the platform’s revenue should be used for rewards and decide the direction of Cook Protocol’s development.
Cook Protocol’s token is now fully released to the community on three blockchains. These include Ethereum, Binance Smart Chain (BSC) and Huobi ECO Chain (HECO).
Co-founder and CEO of Cook Protocol, Kun Peng, said,
“We had a successful TGE. Within 24 hours of the TGE, Ethereum, BSC and HECO networks recorded over 6,700 COOK holders, and the trading volume spiked above $30 million. This shows the strong belief of the community in the COOK token and Cook Protocol.”
The COOK token saw multiple distribution events on major IDO platforms, including Poolz, BSCPad and WeStarter and the IEO platform on Gate.io. More than 20,000 people participated in the IDOs and IEO. The latest IDO on DuckStarter marked the token generation event, which distributed COOK across three inter-connected blockchains. In addition to the COOK token, Cook Protocol has also released an exclusive NFT on OpenSea, developed in partnership with Bondly.
Notable investors in Cook Protocol include the OKEx Block Dream Fund, a venture fund built by the OKEx exchange to invest in the best projects in DeFi and cryptocurrency. Cook Protocol is working on a deployment on OKExChain as part of its vision of interoperable blockchains. DuckDAO, the community-led incubator that built the DuckStarter platform, has also invested in Cook Protocol.
About Cook Protocol
Cook Protocol is a decentralized cross-chain asset management platform enabling investors and professional asset managers to unlock the potential of DeFi innovations. The platform looks to tap into the rapidly growing crypto asset management market, which is currently valued at hundreds of billions of dollars. On the Cook Protocol platform, investors can select any of the wide range of investment options offered by fund managers. It provides investors with a sleek and straightforward interface and fund managers with powerful trading tools so they can maximize profits.
Co-founder and CEO of Cook Finance, Kun Peng
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