Every day ... a new discovery! This is one of the forces driving me towards success in this sleepless and heatless crypto ecosystem. Sometimes I discover a new token, a new project, a new author and after reading the "introduction" I want to know more! This was the case for the Index Cooperative, a community-led, decentralized organization wishing to create, maintain and drive the global adoption of crypto indices. A Crypto Index is a selection of cryptocurrencies, grouped by market cap, which will gain value when the coin or token gains value.
Index Cooperative creates and maintains the best crypto index, which are always 100% collateralized. It is decentralized and autonomous, being governed and upgraded by INDEX holders. All the products are built on Set Protocol V2 infrastructure, sourced by DeFi experts. The long term plan is to create a community that will challenge the status quo in legacy finance. The DeFi based financial model will have the core values based on fairness and trust.
DeFi Pulse Index is the first product, a Decentralized Finance index of the 10 most popular Ethereum DeFi tokens. The index pool contains AAVE, Synthetix (SNX), Uniswap (UNI), Yearn Finance, Compound (COMP), Maker (MKR), REN, Loopring (LRC), Kyber Network and Balancer. The listing order is based on the share size of the pool.
DeFi Pulse Index was launched in September 2020 and took the DeFi ecosystem by storm by breaking the knowledge barrier for crypto investors. Users who lack the DeFi knowledge can invest in the Index and gain exposure to multiple tokens through the ownership of the DeFi Pulse Index token.
The Index Cooperative (INDEX) is the native token, granting holders the privilege to participate, propose and vote on how the organization will evolve. The proposals can influence the running of the whole organization, from smart contracts to indices and treasury.
INDEX is an ERC-20 token deployed on the Ethereum blockchain with a capped maximum supply of 10,000,000 tokens. The INDEX tokens can be obtained from exchanges or by participating in the liquidity mining program. Upon staking LP tokens, the user will earn INDEX.
INDEX purpose is to facilitate community driven ownership and governance by letting all the holders have their vote on how the business will run. The INDEX holders have a direct influence on the project's roadmap. A proposal must have over 90% of the votes to be accepted for implementation. The proposals are known as IIP (Index Improvement Proposals). Can be used for smart contract upgrades , allocation in the Index Coop treasury or addition of new products.
The Index Coop has partnered with Transak, and integrated fiat purchases of DPI with British Pounds, Euros and Indian Rupees. Transak is a global fiat-to-crypto gateway that aims to simplify the cash to crypto transactions. The current limits are set at $10,000, €10,000 and ₹1,000,000 per week.
Index Cooperative allocated 2000 INDEX for Liquidity Mining on Loopring Layer2. Since 25th of January, liquidity providers in the ETH-DPI pool will be able to earn $INDEX incentives. This move comes as a proof of loyalty towards smaller investors, which are currently scared by the absurd Ethereum fees. Loopring allows users to have minimal fee transactions with immediate confirmations
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