Singapore’s leading decentralized platform which performs cross-chain asset management, Cook Protocol, announced in a Monday press release the completion of its initial Decentralized Exchange offering on DuckStarter, a leading service platform for blockchain projects.
According to the announcement, the newly released token offering dubbed COOK token have previously seen several distribution events on notable Initial Dex Offering platforms like Poolz, BSCPad, and WeStarter.
However, the newest Initial Dex Offering (IDO) on DuckStater marks a significant generation event for the COOK token. This remarkable IDO saw the token distributed on three blockchains.
In other words, the COOK token now has the backing of the following interconnected blockchains; Ethereum, Binance Smart Chain (BSC), and Huobi ECO Chain (HECO).
A Democracy For DeFi
With the company’s aim to bring accessible, transparent, and secured financial services to the masses, it is set to provide a democratized DeFi for all its users as it can be quite challenging for amateur investors.
Thus, the platform allows all its users the freedom to create usable strategies for earning yield within the Cook community.
Therefore, Fund managers and investors can easily create strategies and go further to deploy them on multiple blockchains.
“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,” the announcement reads.
Surging Rate of Token Holders Suggests Massive Faith in COOK token
Following an expression of relief and achievement, Kun Peng, the Co-Founder of Cook Protocol commented on the new development saying;
“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.” He added.
Furthermore, the company cited OKEx Block Dream Fund and DuckDAO as major investors in Cook Protocol.
The announcement further unveiled that Cook Protocol in collaboration with Bondly has also released an exclusive NFT on OpenSea.