Cook Improvement Proposal #14
CIP #: 14
Title: Avalanche Ecosystem Yield Bearing Index Update
Discussion link: https://gov.cook.finance/t/avalanche-ecosystem-yield-bearing-index-update/
Remove wMEMO from YB-AEI
There were some major negative discoveries about wMEMO. Many people from the community expressed the opinion that they do not want indexes that have wMEMO because of these discoveries.
Create a new yield bearing Avalanche Ecosystem index on Avalanche without wMEMO. Delist old YB-AEI
Responding to community requests and to make sure index compositions are kept at the highest quality
Implement a new yield bearing Avalanche Ecosystem index on Avalanche. The Yield bearing Avalanche Ecosystem index includes AVAX, JOE, QI, Yak and PNG and the allocation should follow their market cap. Additionally AVAX, JOE, QI, YAK and PNG should be deposited into Yield Yak for yield farming to generate additional APY.
Delist the old YB-AEI a week after listing of new YB-AEI
On the date of delisting, the old YB-AEI will be accessible only to their token holders and they will have options to keep them or the option to redeem the index back to underlying tokens.
Stop index staking rewards for the old YB-AEI and in turn open index staking for the new YB-AEI.