Cook Finance Enables Liquidity Mining
Liquidity mining is a critical part of the entire DeFi ecosystem. It is the process of adding liquidity to liquidity pools of various crypto tokens to generate revenue off of one’s crypto holdings.
As an asset management platform, we want to enable the best features to create more opportunities for our users. In line with this, we are now enabling Liquidity Mining on Cook Finance along with a variety of fund selection options.
Users on our platform can deposit their COOK-WETH LP tokens for UNISWAP, COOK-WETH for MDEX, or COOK-WBNB for Pancakeswap, into the liquidity mining pool on Cook Finance.
Once deposited, the liquidity providers simply need to wait for the rewards to be credited into their account. The vesting period for liquidity mining rewards is 30 days. If the liquidity providers desire to withdraw their vesting rewards early, then the 50% of the remaining vesting rewards will be slashed. The rewards earned by each liquidity provider will be proportional to the share of tokens staked by them in the liquidity pool.
Liquidity mining on the app will have four sections to display the details.
1. Your Total Staked: This will display the total staked amount by the user.
2. Available to Harvest: The rewards users earn from their staked tokens will be displayed here.
3. Vesting reward: Once a user harvests their rewards, the tokens will go under a vesting period and are displayed under this section.
4. Vested reward: Tokens that complete their vesting period will be sent to this section and users will be able to claim these tokens.
In addition, the amount of COOK token rewards given per block are dynamically adjusted based on the project needs and market condition.
We have made the UI of our liquidity mining section fairly simple to allow all users to easily understand the process and use their COOK tokens to earn easy rewards.
In the near future, we plan to add many more features that will bring better opportunities for users in the crypto space. To make sure you don’t miss out on these updates and new features, stay tuned.
About Cook Protocol
Cook Protocol establishes a transparent and flexible asset management platform suited to diverse investors and asset management service providers alike. Investors can monitor a manager’s fund allocations without worrying about fund security or foul play. At the same time, fund managers can leverage Cook Protocol to gain access to investors and carry out virtually any investment strategy without having to opensource the strategy.