- Cook Finance launches its decentralized cross-chain asset management platform.
- Cook said it gives investors an easy way to expand their crypto holdings
In a press release, Cook Finance announced the Ethereum mainnet launch of its decentralized cross-chain asset management platform. Cook Finance is a cross-chain decentralized asset management platform.
According to the Cook Finance team, the protocol enables asset managers to create and issue their crypto index funds. Also, it gives investors an easy way to expand their crypto holdings.
The launch comes amid new investors flowing into the crypto market, looking for openings in DeFi. More so, Cook claims to bring DeFi and crypto tokens to the public. By doing so, it will make the onboarding process easier and more convenient.
However, to be able to browse and trade different funds, users need to connect to a user’s Meta Mask wallet. With this, they can view their asset holdings and track fund performance from an easy-to-use dashboard.
Adrian Peng, co-founder, and CEO of Cook Finance expressed his excitement as follow,
With Cook, we wanted to give users an easy, automated way to gain exposure to different sectors of the crypto market without having to buy each asset individually.
We’re still in the early stages of DeFi, but crypto adoption is now at an inflection point as retail investors enter the market at an unprecedented pace. We’re providing these new investors with a trustless and decentralized way to diversify their holdings.
Adrian Peng added.
Furthermore, Cook said that its asset-backed index funds are rebalanced regularly to maximize potential ROI while decreasing risk. Aside from this, Cook claims to be on-chain compatible. Therefore, it ensures investors have access to many cryptos across many blockchain ecosystems.
Let’s note that currently, Cook’s platform supports the Ethereum network and ERC-20 assets. But the team said it would soon support Binance Smart Chain (BSC) and Huobi ECO Chain (HECO).
In addition, Cook’s team said that the upcoming integration with BSC and HECO would add many new index funds. This includes DeFi-focused funds invested in DeFi projects like Pancakeswap, Venus, and MDex.
The Cook team also addressed asset managers. The team said it would let fund managers create and launch actively managed index funds on the Cook marketplace. This will happen when the feature goes live in Q3 2021. What is more, the feature will enable fund managers to reach many investors quickly.
For more info, users can access the Cook DApp platform by visiting: https://app.cook.finance/overview