CIP #14 - Avalanche Ecosystem Yield Bearing Index Update

Cook Improvement Proposal #14
CIP #: 14
Title: Avalanche Ecosystem Yield Bearing Index Update
Status: Proposed
Discussion link: https://gov.cook.finance/t/avalanche-ecosystem-yield-bearing-index-update/
Created:1/31/22

Executive Summary
Remove wMEMO from YB-AEI

Problem Statement
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.

Proposed Solution
Overview
Create a new yield bearing Avalanche Ecosystem index on Avalanche without wMEMO. Delist old YB-AEI

Rationale
Responding to community requests and to make sure index compositions are kept at the highest quality

Specification
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.

2 Likes

Yes sure, a new optimized avalanche ecosystem index without wMEMO will be better for us.

nice. keep maintaining the index. wMEMO’s performance is not good enough. high-quality index only. if it can give a better profit percentage, then I would love to support it.

I respect the Cook team for dealing with the community requests and making sure we get the highest quality benefit.
I support the proposal