The decentralized crypto asset management platform Cook Protocol has received fresh funding from the $100 million Block Dream Fund just as the operation passes significant milestones leading up to its mainnet launch.
Strategic investment to help accelerate platform’s development & launch timelines
As decentralized finance (DeFi) attracts ever greater attention amid surging total locked values and exploding trading volumes, Cook Protocol is busy cementing its place as a reliable cross-chain asset management platform following an investment from Block Dream Fund. The investment, which is part of Block Dream’s first round of allocations, reflects the Fund’s confidence in the protocol’s long-term Potential as DeFi gains momentum.
Cook Protocol aims to level the playing field for both investors and asset managers alike by leveraging DeFi innovations and making them accessible through a decentralized platform. The operation is headed up by a seasoned team that counts on experience from top tech companies including Google, YouTube, Dropbox, and educational backgrounds from leading US universities.
Block Dream Fund, which acts as the OKEx cryptocurrency exchange’s investment arm, typically allocates capital to top-tier crypto projects. The latest decision reflects their confidence in the team and project alike. This new undisclosed amount of capital follows the previous fundraising from Dach Capital, Lotus Capital, MC Capital, Crypto Dorm Fund, and several angel investors.
According to Dora, Block Dream Fund’s Founding Partner, “We’re glad to cooperate with Cook Protocol. The team members have very good backgrounds with professional insights on the combination of blockchain and DeFi. We are looking forward to seeing the project land as soon as possible to create value for the blockchain industry. Block Dream Fund focuses on the DeFi field and is willing to provide services and resources for quality projects.”
Differentiating the asset management experience
Recently, Cook Protocol has surpassed several noteworthy milestones, including the successful development of the HECO index, completion of the platform’s UI/UX design, the commencement of front-end development, and realization of Cook leverage.
Cook Protocol will deploy this fresh capital to speed up the development timeline as the operation aims to launch on the Ethereum Mainnet later this year. Moreover, the relationship with Block Dream Fund is designed to assist in business development and relationship building within the space.
Although there is already notable competition surrounding digital asset management, the Cook Protocol intends to edge out the space’s challengers with its cross-chain solution. This approach is meaningful given that the platform can switch between networks to reduce overall transaction costs. Moreover, it delivers lower fees for investors and asset managers alike, helping expand its attractive qualities for cost-mindful users that join the platform.
Beyond these benefits, a more intuitive platform experience and the inclusion of sophisticated tools like leverage and margin trading help Cook Protocol differentiate the platform’s offerings from its closest competition. While built for Ethereum right now, the platform is also exploring the use of other blockchains, including Polkadot and Huobi as well.
Der Beitrag Cook Protocol welcomes funding from OKEx’s Block Dream Fund erschien zuerst auf Crypto News Flash.