CIP #:4 - Batch Issuance Trigger

Cook Improvement Proposal #4

CIP #: 4

Title: Batch Issuance Trigger

Status: Proposed

Discussion link: Batch Issuance Trigger

Created: 11/1/2021

Executive Summary

Batch issuance is a good feature for people with smaller amounts of capital since it saves everyone gas fees for those who are looking to self-issue index tokens at around the same time.

Problem Statement

There is no place to trigger batch issue on the Cook DAPP UI. Even though the batch issue function is public, the only way to trigger it is on etherscan or through a programming function to call. Also, there is no incentive for a user to trigger it, which might cause no one willing to trigger the batch issue with pooled tokens from users.

Proposed Solution

Overview

Add a button on the UI so everyone can self-trigger batch issuance. 1% of the total issue tokens will be used to reimburse the person who triggers batch issuance to recover gas fees.

Rationale

With a button on the UI, users can easily trigger batch issue, so everyone can easily trigger it to transform the pooled issued tokens into the index token. Using 1% of the pooled issued tokens as incentive to the person who triggers it is quite reasonable, since normally the gas fee to issue an index token can be up to a few hundred dollars, it is quite expensive for small issuance amounts.

Specification

To request Cook add a button on the cook platform UI for triggering batch issuance. Make 1% of the pooled token as an incentive to the person who triggered the batch issue. The 1% should be tunable and later be determined to change by governance.

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