CIP #: 3
Title: Single Token Issue
Discussion link: Single Token Issue
Improve the Cook platform by making it possible to use a single token to issue an index. This will make it easier for everyone to issue into any type of index on the Cook platform.
Currently, self-issuing an index token requires the user to have all assets in their wallet, if an index is composed of many components, the user has to swap all those components before issuing.
Add a feature to issue/redeem an index token from/to single asset
such as WETH, USDT, USDC.
With the single asset issuance/redeem feature, users can issue or redeem index tokens much easier and with lower gas fees
To request Cook to implement a feature that enables issue/redeem with a single asset such as WETH, USDC, DAI, ect…
The steps in the smart contract should include:
Receive a token for issuing index from user
Swap the components based on the unit allocation in an index
Mint the index token and send it to the user