A Cook Improvement Proposal (CIP) is a document based proposal to create new functionality on the Cook platform or modify existing parts of the Cook platform. The CIP proposal process largely follows the same process as Ethereum's Improvement Proposal (EIP).
In the COOK Governance Process 1.0, a CIP can be created for the following three scenarios:
The community can propose to create a new recipe (index) and use COOK tokens to pass/reject the proposal
The community can propose to update current recipes (indexes) and use COOK tokens to pass/reject the proposal
The community can propose to create a new liquidity mining program and use COOK tokens to pass/reject the proposal
In the near future, we will upgrade our governance model to incorporate more sophisticated scenarios to CIPs, such as treasury management and meta-governance proposals (governance of tokens included in COOK indexes).
In the longer term future, CIPs will also be used to propose upgrades and changes to Cook Protocol smart contract and Cook platform.
This is a high level overview of a CIP lifecycle:
Community discussion - For the community to discuss on the Cook Protocol Forum
Proposal creation - Using the CIP template and submitting on the Cook Protocol Forum
Q&A - Hold a Q&A session for new CIPs with community members
Vote Schedule - Schedule a day to take a snapshot vote of the proposed CIPs
Vote Snapshot - Snapshot vote taken for proposed CIPs
Execution - All vote approved CIPs will be executed