Protocol

Basic Issuance Interface

For the forthcoming $ic21 product, 21.co will need to issue and redeem $ic21 tokens using the underlying components, otherwise known as “basic” issuance, in order to provide liquidity for the product. A user must be able to input the number of $ic21 tokens they expect to receive, supply proportional amounts of the underlying components, and issue new units. Additionally, the user must be able to redeem $ic21 tokens and receive the proportional amounts of the underlying components. Initially, this functionality will only be used by 21.co because they are the sole party able to access the primary market for the wrapped components in the product; $ic21 token holders will not have access to this interface. In the future, “basic” issuance and redemption may be a useful feature offered on Index Protocol

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