Cook Protocol-Decentralized Asset Management Platform.

Introduction

This paper presents a protocol for a decentralized wealth management platform. The ultimate product is a trustless, transparent, and well-incentivized platform that provides investors with a selection of wealth management services and fund managers with access to highly liquidized funds.

Cook Protocol establishes a transparent and flexible asset management platform suited to diverse investors and asset management service providers alike. Investors can monitor a manager’s fund allocations without worrying about fund security or foul play. At the same time, fund managers can leverage Cook Protocol to gain access to investors and carry out virtually any investment strategy without having to opensource the strategy.

Cook Protocol

Cook Protocol is built on an Ethereum blockchain that establishes a generic asset management platform, providing investors with a selection of asset management vehicles from fund managers. Funds can be managed passively or actively through whitelisted DeFi protocols. For each investment fund, a unique ERC-20 token – proportional to their contribution to the fund – is issued to investors. Investors can divest the tokens any time in exchange for the equivalent underlying asset.

Mission & Vision

Cook Protocol was founded on the belief that everyone needs to have access to finance. We contend that decentralization holds the key to empowering people around the world to better manage their assets, and we are helping the world move in this direction by accelerating the transition to adopting decentralized finance.

1. Mission: Accelerate Adoption of Open and Decentralized Finance

We believe that we can accelerate the adoption of decentralized finance by:

● Providing investors with secure, transparent and high-quality asset management services

● Providing fund managers with funds and a variety of asset management tools

2. Vision: Bring Finance to the Masses

In our journey towards achieving this vision, we are:

● Democratizing secure, transparent and high-quality financial services with a lasting, positive impact

● Becoming a world-leading decentralized asset management platform

Problems

Traditional asset management markets are opaque in revenue, profit, and risk information. They are usually limited to wealthy private and institutional clients due to inherent structural inefficiencies and hefty fee structures. Blockchain-based wealth management provides a promising alternative because of the open and transparent nature of blockchain technology.

However, existing blockchain solutions are often too sophisticated and technically obscure for ordinary investors. Moreover, none of them provides the necessary investment tools for professional fund managers to flexibly carry out a variety of strategies.

Solutions

To tackle the aforementioned challenges, we are creating an Ethereum-based decentralized asset management platform to provide ordinary investors with professional asset management services. The platform offers the following benefits:

● Investors can access high-quality asset management services without professional knowledge of decentralized finance (DeFi). They only need to select the appropriate investment strategies and send cryptocurrencies to the corresponding smart contract to obtain ckTokens (fund-specific LP tokens).

● Fund managers can create funds, configure investment strategies to attract investors, and use tools on the platform to execute investment strategies.

● Smart contracts guarantee security of the funds and transparency of the underlying assets by limiting the access of fund managers.

● Decentralized Autonomous Organization and Tokenomics incentivize global investors and fund managers to interact with each other via smart contracts deployed on Cook Protocol

Features

Cook Protocol will tap into the crypto asset management market, which is currently valued at hundreds of billions of dollars and is growing exponentially. Cook Protocol allows investors to select appropriate investment choices provided by fund managers. We provide investors with a sleek and straightforward interface and fund managers with powerful trading tools.

1. Investors

● User-friendly UI: A simple, sleek interface to help users navigate through sophisticated DeFi land

● Investment variety: Index-based and actively-managed funds

● Security & transparency: Fund security and information transparency guaranteed by smart contract

2. Asset Managers

● Lower initialization fees: The elimination of hefty legal and various fees to begin fund management and receive money from investors

● Professional trading tools: Access to various blockchain-based money markets and trading tools, such as the token price predictive model

● IP protection: No need to open-source investment strategies

What is Cook (COOK) token used for?

COOK tokens are governance tokens that can accomplish a variety of updates on the protocol.

Update DeFi Whitelist

The entire community of Cook token holders can decide whether to add or remove a particular DeFi protocol to the protocol-level whitelist

Adjust Platform Fee

Cook token holders can decide to increase or decrease fees charged on the Cook Protocol platform.

Modify Governance Model

If token holders are unsatisfied with the current governance model, they can propose modifications to better serve their interests.

Change Pricing Oracle

Cook Protocol uses a price oracle to calculate the investment fund values. Token holders can vote to have the price oracle updated.

Add New Features

Cook tokens can also be used to vote on adding features at the protocol-level.

COOK Token

COOK token is a governance token that allows token holders to shape the future of COOK protocol. The token holders can submit proposals and vote to start incentive programs to grow the ecosystem, improve the governance structure, and upgrade the platform. More details about governance will be explained in the Governance section.

Token Distribution

● Mining: 60%

Part of the tokens is reserved for mining rewards.

● Community Incentive & Airdrop: 10%

Part of the tokens is used to bootstrap the ecosystem.

● Early Community: 10%

Tokens reserved for private sale to early community members willing to contribute to our ecosystem.

● Business & Media Partnership: 10%

Rewards for marketing and partnership.

● Team: 10%

Tokens allocated to the core developers and team members on a price-based release schedule after a 90-day cliff.

Token Allocation

10 billion COOK tokens will be minted at genesis. The token allocation is as follows:

● 60%: to the COOK community treasury with a six-year vesting schedule. 6,000,000,000 COOK

● 10%: to community incentive & Airdrop. 1,000,000,000 COOK

● 10%: to early community investors with a price-based and time-based unlocking schedule. 1,000,000,000 COOK

● 10%: to business and media partners. 1,000,000,000 COOK

● 10%: to team members, advisors and future employees with a price-based unlocking schedule after 90 days cliff. 1,000,000,000 COOK

Roadmap

2020 Q2 – Cook Protocol team assembled

2020 Q3 – Cook Protocol concept finalized

2020 Q4 – White Paper released

2021 Q1 – Cook Protocol architecture & UI design release

2021 Q1 – Uniswap Listing

2021 Q1 – Cook Leverage release

2021 Q2 – Cook DeFi index release

2021 Q2 – Cook Protocol integration testing

2021 Q2 – Cook Protocol third party audit

2021 Q2 – Cook Protocol 1.0 release on Ethereum mainnet

2021 Q3 – Cook Protocol Ecosystem Development

2021 Q4 – Cook Protocol 2.0 release on Ethereum mainnet

Our Team

Adrian Peng – CEO

Cage Chen – CTO

Michael Bader – CFO

Ace Yin – COO

KP Peng – VP of Business Development

Matias Dominguez – CMO

Antonio Wong – VP of Blockchain Development

Rahul Rodrigues – Chief Architect

Conclusion

Cook Protocol is open source and functions only as programmed. Cook Protocol has been designed so that no owners or administrators can engage in foul play with relation to underlying assets. Traditional higher-level assets such as exchange traded funds often trade at a discount because these assets have counterparty risks. Since the underlying assets are held in custody by a trustless, autonomous smart contract in Cook Protocol, there is no third party that can fail to live up to its contractual agreements.