COOK
Abstract
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.
Executive Summary
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 Overview
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.
An investor invests crypto assets accepted by a particular fund in exchange for ERC20 tokens, representing partial ownership of the fund. The ERC-20 token, or ckToken, is unique to each fund and can be exchanged among investors or redeemed for its underlying assets within the fund. The concept of a ckToken is similar to a share in the stock market, especially with financial products such as exchange traded funds (ETFs). Thus, a ckToken equates to a percentage of ownership in an investment fund with a value proportional to the investment fund’s value. For each investment fund, its ERC-20 tokens become fungible assets that can then be traded among investors, providing convenience and reducing transaction fees
A fund manager initializes a fund by defining an overall strategy and fee structure, accepting assets and access limits to each of the whitelisted DeFi protocols. Cook Protocol allows fund managers to describe investment strategies to attract suitable investors. Funds are then pooled from investors into a smart contract so that the fund manager can allocate passively by following a specific index or actively by managing multiple financial product streams
For each investment fund, the fund manager is granted with the proper permissions according to the given smart contract, which allows the manager to allocate funds to the whitelisted DeFi protocols, such as Compound, 0x, and Synthetix. The amount of funds allocated to each DeFi protocol cannot exceed a pre-determined limit and can only be revised through fund-level governance. In return for providing asset management services, the fund manager is compensated via a fee-based model, wherein investors take all gains and losses while paying a fixed fee to the fund manager. While each transaction within the fund market is transparent, the actual investment strategy can remain opaque to the outside world to spur innovation.
By default, fund managers will pay 2% when they claim the management fees. Fund managers do not need to pay platform fees if they decide to withdraw their management fees in COOK tokens; 100% of the platform fees are then redistributed to COOK token holders who actively contribute to our ecosystem. The platform fees are subject to change as per the community governance in the future.
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
Apart from governance, COOK tokens can be used to pay platform fees on Cook Protocol. When investors decide to invest in a popular fund, they will need to pay COOK tokens in advance. When a fund manager initializes funds, they will also need to stake a certain amount of COOK tokens. In addition, when a fund manager decides to claim management fees, they need to pay 2% of the management fees as platform fees.
COOK token holders can potentially share the direct and indirect benefits derived from the platform fees. For instance, the token holders can collectively decide to adjust the platform fees and distribute them to token holders or use them to buy back COOK token in the open markets
Disclaimers
Licenses and approvals are not assured in all jurisdictions
Cook Protocol aims to operate in full compliance with applicable laws and regulations and use its best endeavors to obtain the necessary licenses and approvals. The initiatives described in this whitepaper are not guaranteed for development and roll-out. As such, in certain jurisdictions, or at all, the initiatives described in this whitepaper may not be available. This could require the restructuring and/or unavailability of such initiatives in all or in certain respects
No advice
This whitepaper does not constitute any investment advice, financial advice, trading advice or recommendation by Cook Protocol team.
Not a sale of security
This whitepaper does not constitute a prospectus or financial service offering document and is not an offer to sell or solicitation of an offer to buy any security, investment products, regulated products or financial instruments in any jurisdiction. COOK tokens are not being structured or sold as securities. Owners of COOK tokens control the governance of Cook Protocol but are not entitled to any rights in the company that develops Cook Protocol, including any equity or intellectual property associated with Cook Protocol.
Product updates
The Cook Protocol and COOK tokens, as envisaged in this whitepaper, are under development and are being constantly updated, including but not limited to key governance and technical features. If and when the Cook Protocol and COOK tokens, are completed, they may differ from the description set out in this whitepaper. No warranty is given as to the achievement of any plans, future projections or prospects in this document. To the fullest extent possible, all liability for any loss or damage of whatsoever kind which may arise from any person acting on any information and opinions contained in this whitepaper or any information which is made available in connection with any further enquiries, notwithstanding any negligence, default or lack of care, is disclaimed.
Third-party data
This whitepaper contains data and references obtained from third party sources. Whilst the management believes that these data are accurate and reliable, they have not been subject to independent audit, verification, or analysis by any professional legal, accounting, engineering, or financial advisors. There is no assurance as to the accuracy, reliability or completeness of the data.
Restricted transmission
This whitepaper must not be taken or transmitted to any jurisdiction where distribution or dissemination of this whitepaper is prohibited or restricted. The views and opinions expressed in this whitepaper are those of Cook Protocol team and do not reflect the official policy or position of any government, quasi-government, authority or public body (including but not limited to any regulatory body) in any jurisdiction. This whitepaper has not been reviewed by any regulatory authority
Risk statements
Purchasing COOK tokens involves substantial risk and may lead to a loss of a substantial or entire amount of the money involved. Prior to purchasing COOK tokens, you should carefully assess and take into account the risks, including those listed in any other documentation.
The regulatory status of cryptographic tokens and digital assets is currently unsettled, varies among jurisdictions and subject to significant uncertainty. It is possible that in the future, certain laws, regulations, policies or rules relating to cryptographic tokens, digital assets, blockchain technology, or blockchain applications may be implemented which may directly or indirectly affect or restrict cryptographic token holders’ right to acquire, own, hold, sell, convert, trade, or use cryptographic tokens.
The uncertainty in tax legislation relating to cryptographic tokens and digital assets may expose cryptographic token holders to tax consequences associated with the use or trading of cryptographic token.
Digital assets and related products and services carry significant risks. Potential purchasers should take into account all of the above and assess the nature of, and their own appetite for, relevant risks independently and consult their advisers before making any decisions.
Caution Regarding Forward-Looking Statements
This whitepaper contains certain forward-looking statements regarding the business we operate that are based on the belief of Cook Protocol as well as certain assumptions made by and information available to Cook Protocol. Forward-looking statements, by their nature, are subject to significant risks and uncertainties
Forward-looking statements may involve estimates and assumptions and are subject to risks, uncertainties and other factors beyond our control and prediction. Accordingly, these factors could cause actual results or outcomes that differ materially from those expressed in the forward-looking statements.
Any forward-looking statement speaks only as of the date of which such statement is made, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events.
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
Team
Adrian Peng, Chief Executive Officer: : Graduated from UC Berkeley and has four
years of experience in the blockchain space. Early investor in crypto projects such as
Ethereum, Polkadot, Filecoin. Tech lead at Google and Oracle. Leading the entire
team while overseeing the overall product roadmap.
Cage Chen, Chief Technology Officer: Top 1% graduate from Carnegie Mellon
university and Silicon Valley engineering veteran. Lead engineer at several top
Silicon Valley companies such as DropBox and C3.AI. Currently serving as tech lead
on both frontend and backend development.
Michael Bader, Chief Financial Officer: Serial entrepreneur with an MBA from
Stanford University. Over 10 years of experience in fintech and three years in
blockchain. Former VP at Bank of America. Very passionate about DeFi and how it
can revolutionize the finance sector. Currently serving as the business strategy lead.
Ace Yin, Chief Operating Officer: UPenn CS graduate. Product manager from
Youtube. Over five years of experience in technology operations. Highly familiar with
the operations in big tech companies and high-growth startups.
Matias Dominguez, Chief Marketing Officer: Graduated from Macquarie University.
Over five years of experience in marketing, community management, and growth
hacking in English and Spanish contexts. Over three years in the blockchain industry.
Antonio Wong, VP of Blockchain Development: Senior developer from Wayfair and
graduate of Cornell University. Mined first bitcoin in 2013 and has seven years of
experience in blockchain. Currently working as senior blockchain developer focused
on smart contract development.
Rahul Rodrigues, Chief Architect: Over 15 years of experience in software
development, especially in distributed systems. Former architect at several fintech
companies such as Fidelity Investments. Currently focused on smart contract
architecture design.
For more infor visite us on:
WEBSITE: https://www.cook.finance/?utm_source=bitcointalk&utm_medium=bounty&utm_campaign=bounty_phase_1
TWITTER: https://twitter.com/cook_finance
TELEGRAM: https://t.me/cook_english
LINKEDIN: https://www.linkedin.com/company/cook-finanace/
REDDIT: https://www.reddit.com/r/CookProtocol/
YOUTUBE: https://www.youtube.com/channel/UCGiAQqspfq9LE0XgFlywN7w/
GITHUB: https://github.com/CookFinance
WHITEPAPER: https://www.cook.finance/whitepaper/?utm_source=bitcointalk&utm_medium=bounty&utm_campaign=bounty_phase_1
ONEPAGER: https://www.cook.finance/one-pager-2/?utm_source=bitcointalk&utm_medium=bounty&utm_campaign=bounty_phase_1
AUTHOR
Bitcointalk Username: Thibaut Courtois
Telegram Username: https://t.me/ThibautCourtois5
Bitcointalk url: https://bitcointalk.org/index.php?action=profile;u=2852544
Wallet address (eth): 0x75D1B4077CcBA32c4997D1ac31F33B96B30D1Ad1
