This FAQ discusses CPT, what they are and their function.
When looking at pools and adding liquidity to pools you will see that CPT tokens are sent to your wallet.
CPT is essentially an accounting token that entitles you as the holder to a percentage stake of the pool it's associated with including its fees.
Yes you can. In fact you can create pools that include CPT so you could create pools of pools.
You could for example create a pool representing a certain class of asset of segment of the market. For example, a pool made up of UNI, SUSHI, HNY and SYMM.
Holding the CPT coin for this pool in effect gives you a stake in the DEX market rather than individual exchanges. This can be a way to spread your risk across multiple exchange projects rather than any single project. If one exchange suffered a problem causing its token price to fall, this would only represent part of that pool.
Now suppose you created another pool containing this CPT token along with CPT tokens for pools representing ecommerce projects and property projects. This further spreads the risk while creating an opportunity for traders to swap between sectors.
This could be used to trade green and non-green markets against each other, networks against each other or any other combination.
You would first liquidate some or all of your high level CPT to release the underlying CPT pool tokens to your wallet. You could then liquidate those CPT tokens to release the underlying assets back to your wallet.