Overview

This proposal outlines a plan to develop an index basket protocol on Injective, enabling users to create and manage diversified token baskets, including NFTs, as a single tradable asset. Through an intuitive user interface, users can create their own baskets or gain exposure to baskets created by other users. Leveraging Injective’s DeFi-first infrastructure, the application will allow users to mint bank tokens representing holdings in specific baskets of assets, trade those tokens, and redeem them for the underlying constituents.

Key Features

• Users can flexibly create baskets with their preferred assets, including NFTs, to achieve diversified exposure or track specific themes.
• Upon depositing assets, users receive corresponding tokens representing their proportional ownership of the basket.
• An admin, with transparent disclosure of privileges, can manage asset ratios and rebalance baskets that they have created for optimal performance. This includes the complete ability to modify the constituents of the basket, ensuring flexibility for dynamic market conditions.
• The protocol will be built using CosmWasm, leveraging Injective's robust smart contract capabilities for security and efficiency.

Hackathon MVP

• Develop the foundational contracts for basket creation, bank token minting, redemption, and administrative functions.
• Implement mechanisms for incorporating NFTs into baskets, addressing valuation and ownership challenges.
• Build a user-friendly interface for basket creation, management, and trading.

Resources

Mentor

Achilleas Kalantzis, Integrations Engineer

Discord Username: achilleaskalantzis