JP-17: Open CAI-AVAX Market

High Level:

CAI, the Colony Avalanche Index is the benchmark index for the Avalanche ecosystem consisting of AVAX and leading Avalanche applications (Currently including $JOE, $sAVAX, and $QI).

Created by Colony and Phuture, CAI is helping users gain exposure to the Avalanche eco in a single token. CAI is a key part of Avalanche and perfectly suited as a concentrated pair on the Liquidity Book

Specification:

Listing on the Avalanche LB Market Token Name: CAI Contract ID: 0x48f88a3fe843ccb0b5003e70b4192c1d7448bef0 (https://snowtrace.io/address/0x48f88a3fe843ccb0b5003e70b4192c1d7448bef0) Coingecko: https://coinmarketcap.com/currencies/colony-avalanche-index/ CMC: https://www.coingecko.com/en/coins/colony-avalanche-index

Token Summary:

-CAI is an index token providing exposure to the Avalanche eco. -The index is created using strategic requirements on token characteristics, liquidity requirements, and security to create a high-quality index. -CAI weights assets based on the circulating market cap and rebalances the strategy monthly. -CAI is highly accessible with no lockup and can be swapped currently on Trader Joe as well as minted or redeemed directly through Colony and Phuture.

Benefits to Trader Joe:

-CAI is a key part of Avalanche and $JOE is a key constituent of CAI -The Liquidity Book is a great fit for the CAI-AVAX strategy. The V1 pool is facilitated through Trader Joe with over $500k in liquidity. -CAI-AVAX is a relatively low volatility pair allowing liquidity providers to tightly concentrate and helping facilitate deep liquidity.

Summary:

CAI is a key part of the Avalanche eco. CAI is an index token offering exposure to the top tokens of Avalanche and is set to grow to account for even more tokens as liquidity across Avalanche increases.

CAI is a perfect fit for Trader Joe V2.