Cook Token (COOKTOKEN) Price, Charts & Market Data

$COOK serves multiple purposes within the Cook Protocol ecosystem:

Governance Token: $COOK is primarily a governance token, allowing holders to propose and vote on changes to the Cook Protocol. This decentralized governance structure ensures that COOK token holders and their delegates have control over the protocol's upgrades. Investment Representation: In contrast to $COOK, the Cook Protocol issues ckTokens, which are LP tokens representing ownership percentages of investment indexes. These ckTokens can be traded or redeemed for the underlying assets at any time. Participation in Governance: Holding $COOK allows users to participate in Cook Protocol's governance process. A party with at least 1% of the total COOK supply can submit governance proposals, and a minimum of 5% of the total supply is required to vote on these proposals. Approved proposals are auto-executed within two days after the voting concludes. Security and Trust: Cook Protocol prioritizes safety by ensuring index managers only have trading access and no withdrawal access. The platform adheres to high coding standards and conducts third-party audits to maintain code quality. In summary, Cook (COOK) is an innovative platform that merges decentralized governance with secure and transparent asset management, leveraging the Ethereum blockchain to broaden access to DeFi for a global user base.

Although 'COOK' was the ticker assigned at the deployment of the Cook Token's smart contract, it is also in use by another asset with a larger market presence and higher trading volume on major exchanges. To avoid confusion in the marketplace, the alternative ticker 'COOKTOKEN' has been adopted for this token. This designation ensures that assets are distinctly identified.