Cook Improvement Proposal #9
CIP #: 9
Title: Avalanche stable coin index
Discussion link: https://gov.cook.finance/t/cook-is-going-to-be-launching-on-avalanche-it-would-be-nice-to-have-additional-indexes/ (https://gov.cook.finance/t/avalanche-chain-and-index)
To implement a yield bearing stable coin index on Avalanche.
Currently there is no yield bearing stable coin index on the Cook Platform on Avalanche.
To implement a yield bearing stable coin index on Avalanche
Stable coin yield farming is always attractive to DeFi users, however, only getting the interest rate on single stable coin isn’t ideal. It’s better to have a group of different stable coin yield farming assets to gain more consistent APY.
Ask the Cook core team to implement a yield bearing stable coin index on Avalanche. The components should include USDT.e, USDC.e DAI.e and MIM. Then put those on yield yak for yield farming. The allocation should consider both TVL and APY on yield yak and the market cap.