CIP #9 - Avalanche Index Stable Coin Index

Cook Improvement Proposal #9
CIP #: 9
Title: Avalanche stable coin index
Status: Proposed
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)
Created: 11/12/21

Executive Summary
To implement a yield bearing stable coin index on Avalanche.

Problem Statement
Currently there is no yield bearing stable coin index on the Cook Platform on Avalanche.

Proposed Solution
Overview
To implement a yield bearing stable coin index on Avalanche

Rationale
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.

Specification
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.

6 Likes

I agree that having group of different stable coins yield farming assets will be much better for defi users and many investors might appreciate it. I think we should implement improvements like this. It also will have positive influence on perception of Cook.

7 Likes

thank you hope to see more discussion here, I thought this is great idea to implement a yield bearing stable coin index on Avalanche

6 Likes

fully support it, great idea :+1:

5 Likes

USDT.e, USDC.e DAI.e ok but MIM I am not sure, maybe BUSD if possible?

5 Likes

with stable coin yield farming COOK can attract many whales

4 Likes

Cook team please implement this yield bearing stable coin index on Avalanche

3 Likes

Avalanche stable coin index is definitely good idea

2 Likes

I trusted you more than once with new ideas and it always worked. So this time I do the same. I’m in. :slight_smile:

3 Likes

I will vote yes to this proposal.

3 Likes

we need more members like you

2 Likes

I just voted an hour ago…
Good vibe

It’s a good thing we can be part of this project.

1 Like

Nice project indeed. I love what cook is doing, carrying everyone along.

1 Like

Good to know, we need more people to vote. Let’s vote guys

I have voted already, from the hour Cook announces it.

Implementation of yield bearing stable coin index on Avalanche will be a good one.

It’s music to me. I like the recent developments. Cook will be unstoppable if we continue like this

Yeah it’s a nice project
One of the best alt coin a true defi asset

Yah already on it
One of the best projects so far
Stakes are great