COOK PROTOCOL: Decentralized Asset Management Protocol

Introduction

Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, Paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc.

An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant’s database). It basically defines the conditions to which all parties using the contract agreement. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.

Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries.

For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.

Regarding financial problems, traditional assets management remains opaque, obscure and not secured at all. However, there exist some blockchain projects aiming to solve that. However, they are often too sophisticated or technically obscure. For this reason, the project I’m going to present you is Cook Protocol (https://www.cook.finance/), a completely decentralized asset management protocol.

Definition

In more detail, Cook Protocolis a decentralized, Ethereum-based asset management platform built for investors and professional asset managers to unlock a whole new universe of DeFi innovations.

Cook Protocol aims to take advantage of the crypto asset management market as it is growing exponentially and already represents many millions of dollars. Basically, with Cook Protocol investors will be able to select from different investment options provided by fund managers. The platform has a sleek and simple interface and powerful fund managers trading tools. Other noteworthy details include safe asset management services and a wide variety of asset management tools.

Goals

Relying on decentralization as a tool, Cook Protocol aims to give everyone access to finance focused on crypto assets. The idea is to accelerate progress towards the adoption of decentralized finance.

How it works

Cook Protocol is built on top of an Ethereum blockchain that establishes a generic asset management platform, providing investors with a selection of asset management vehicles from fund managers. ON the platform, fund managers can not only establish smart contracts and configure parameters such as investment strategies and management fee, but they can also deposit cryptocurrencies in a smart contract to receive a corresponding amount of tokens representing partial ownership From the bottom.

Token details

COOK tokens are governance tokens that can achieve a variety of protocol updates. The entire Cook token holder community can decide whether to add or remove a specific DeFi protocol to the protocol-level whitelist, adjust the platform fee, modify the governance model, can vote to update the pricing oracle .

Bounty program

The project gives the opportunity to earn COOK tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Thread here (BTT_Thread_CookProtocol), where you can access the link in order to see what are the conditions to become an early COOK contributor and start acquiring tokens.

For more information about the project, you can visit and read their WhitePaper available here (CookProtocol_WP). You can also stay tuned in their official Telegram Channel (CookProtocol_tg). I hope you liked the post and soon I’ll send you new ones.

Roadmap

2020 Q2 | Cook Protocol team assembled

2020 Q3 | Cook Protocol Proof of Concept

2020 Q4 | Publication of the White Paper

2021 Q1 | Launch of Cook protocol architecture and user interface design, Uniswap listing, and launch of Cook Leverage

2021 Q2 | Cook DeFi Index Release, Integration Testing, Third-Party Audit, and Cook Protocol 1.0 Release on Ethereum Mainnet

2021 Q3 | Developing the Cook Protocol ecosystem

2021 Q4 | Launch of Cook Protocol 2.0 on the Ethereum mainnet

Social Media Links

Telegram: CookProtocol_tg
Youtube: Youtube_CookProtocol
Twitter: Twitter_CookProtocol
Medium: Medium_CookProtocol

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Author Details

Email: adria.parcerisas.albes@gmail.com

Bitcointalk username: adriaparcerisas

Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482

Proof of authentication BTT: #1089 (https://bitcointalk.org/index.php?topic=5312950.msg56321382#msg56321382)

Ethereum wallet: 0x3e10d9Cb6a5af372C00563aA19FEE3122A5C0Cd4

#crypto #cryptocurrency #blockchain #DeFi #protocol #finance

Ph.D. ML and AI | Blockchain Technology and Cryptocurrency Expert

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