Cook Finance
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Q&A

What is Cook?

Cook is a multi-chain DeFi Index platform built.

Why do I need to use Cook?

Cook is an open, transparent, and secure platform, providing participants with a variety of ways to select and create various indexes on the platform which makes getting into DeFi easy for anyone.

How does the Cook work?

Index creators can set up smart contracts and configure parameters like strategies and management fees. Selectors can put cryptocurrencies into a smart contract to receive a corresponding amount of ckTokens that represent partial ownership of the index.

Is Cook safe?

Cook is very safe. Index creators only have trading access but do not have any index withdrawal access. In addition, the Cook team uses high standards for coding and regularly utilizes third party audits to ensure code quality.

What is a ckToken?

A ckToken is an LP token that represents the ownership percentage of a index. ckTokens can be redeemed for the underlying assets or traded at any time.

What is the difference between a COOK token and a ckToken?

A COOK token is a governance token used to propose and vote to make changes to the Cook Protocol, while a ckToken represents ownership of a specific index.

Who controls the Cook Protocol?

Cook is managed by a decentralized community of COOK token holders and their delegates, who propose and vote on upgrades to the protocol.

How does Governance work?

A party with at least 1% of COOK total supply can submit a governance proposal for changes to be made on the platform. At least 5% of the COOK total supply is required to vote to decide whether to pass the proposal. Passed proposals will get auto-executed within 2 days after voting.

How do I get involved in Cook Governance?

You just need to possess COOK tokens and then you can cast votes on proposals. You can also delegate your votes.
Last modified 8d ago