This new launch will open up a new world of DeFi indexes on the Avalanche chain
SINGAPORE, Nov. 30, 2021 (GLOBE NEWSWIRE) — Cook Finance (www.cook.finance) today announced the launch of the first ever DeFi Index platform on Avalanche. Users on the Avalanche chain will now be able to easily select from a variety of DeFi indexes, several of which will include the most popular AVAX ecosystem tokens.
With the launch of Cook on Avalanche, there will be three brand new AVAX focused indexes that users can select on the platform. The first is an AVAX Ecosystem Index that will comprise of the most popular Avalanche tokens including WAVAX, TIME, JOE, QI, YAK, PNG and PEFI. The second is an AVAX Mega Cap Yield Farming Index that will include WBTC.e and WETH.e. with a yield farming component through Yield Yak. The third is an AVAX Stablecoin Yield Farming Index that will be made up of USDT.e, USDC.e DAI.e and MIM with a yield farming component through Yield Yak.
“Avalanche has experienced tremendous growth over the past month and we’re so excited to give the Avalanche community access to the first ever DeFi Index platform. We see this launch as providing an easy way for new users who want to get into DeFi indexes but were held back by high gas fees on ETH,” says Adrian Peng, CEO of Cook Finance. “As we build out new community proposed features to make DeFi indexes even easier to access, we hope that launches like this help build the overall DeFi index ecosystem.”
Additionally Cook Finance will include a new feature in the launch on Avalanche called “Issue with Single Token” which makes issuing into any index as simple as swapping a single token such as AVAX, USDT or WETH for all the underlying assets automatically. This feature will provide users one of the fastest ways to issue into any DeFi index on the Cook platform.
With this new feature and the fact that Avalanche is one of the fastest growing Layer 1s with many efficiency benefits including lower gas fees and quicker time-to-finality, Cook sees this new launch as a tremendous opportunity to dramatically expand the reach of DeFi indexes.
About Cook Finance
Cook Finance is a transparent and flexible DeFi Index platform. This two sided platform is suited to a diverse range of users to make it easy to select from a menu of indexes across multiple chains. At the same time on the other side of the platform, index creators can utilize tools to create virtually any imaginable strategy and easily offer it up to the Cook community.
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Adrian Peng, Cook Finance