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Index Coop - DeFi Pulse, FLI and Governance

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Written by   424
1 month ago

Index Coop

I told you back in February that Index Coop is my latest discovery and the project shows innovation and stability. The community-led decentralized organization made a name by creating top crypto indices such as DeFi Pulse and FLI (Flexible Leverage Index).

Index Cooperative is powered and governed by the INDEX token and constantly works to create and maintain 100% collateralized crypto indices. The INDEX token is an ERC-20 token deployed on the Ethereum blockchain with a capped maximum supply of 10,000,000 tokens, which will grant holders the privilege to participate, propose and vote on government of the organization. 

The vision of Index Coop is to create a strong and bright community that will challenge the status quo in legacy finance by creating a model will based on fairness and trust. All the indices are built on Set Protocol V2 infrastructure, sourced by DeFi experts.  The Index Coop and DeFi Pulse partnership constanlty thrives to improve the products, and deliver the best DeFi solutions.

DeFi Pulse

DeFi Pulse Index is the Index flagship product, a Decentralized Finance index of the 11 most popular Ethereum DeFi tokens, ordered based on the share size in the pool.

DeFi Pulse was launched in September 2020 having the main purpose on breaking the knowledge barrier for crypto investors, and it contains AAVE, Synthetix (SNX), Uniswap (UNI), Yearn Finance, Compound (COMP), Maker (MKR), REN, Sushi, Loopring (LRC), Kyber Network and Balancer.

The DeFi Pulse Dashboard on Index Coop contains all the details regarding the current stage of DPI Liquidity Program, and is the place where staking can be approved and rewards can be claimed.

Flexible Leverage Index (FLI)

The Flexible Leverage Index (FLI) was lunched by The Index Coop last month, in collaboration with Pulse Inc. The FLI is structured as an ERC-20 token that enables investors to automate a target leveraged exposure with all the advantages of decentralization. The FLI set-up is reducing the risk and costs of collagenized debt. FLI rebalances the leverage position for investors and doesn't need constant monitoring, which make FLI perfectly balanced ... as all things should be! The Leverage risk is reduced automatically within the index by keeping stable target ratios and absorbing major volatility spikes. FLI steaming fee, annualized at 1.95%, is the lowest on the market and protects against deposit and withdrawal. FLI tokens can be bought from Uniswap and for non-US residents from TokenSets.

Being active in Governance

I was amazed by the low fee I had to pay to move 20 INDEX tokens in my Metamask, only $19.03. This is low, considering that the average fee is above $50. No matter the value of the INDEX tokens, I will hold them! I want to be part of the project and to be actively involved on the evolution.

My assets can be easily check on Index Coop and the user friendly but full of information dashboard is another reason why I like Index Coop. I can see the value of my assets, the changes and overall token stats on the same page.

The Decision Gate 1 was the first vote I participated, a vote required to signal the intent to further research of BCH2x-FLI feasibility. The vote on the new set will bring life a Bitcoin Flexible Leverage Index, using the same methodology as the  ETH2x-FLI Index.

The DeFi lending protocols reached billions in TVL and the opportunity and interest for new products is also on the rise. Wrapped Bitcoin (wBTC) is the 4th most supplied asset on Compound which creates the opportunity for a Flexible Leverage Index based on Bitcoin (BTC). This innovating idea will certainly be successful, therefore my vote "FOR" is understandable.

The second vote I participated, was through the RabbitHole, where COMP-43 was available on the Boardroom. The Boardroom is the integrated platform that improves distributed decision making for stakeholder owned crypto networks. I installed the Bright app, which was part of the task criteria, and voted.

Completing the quest on RabbitHole also gave me 50 experience points. My vote was recorded and the task was completed. I noticed that only 14 rewards have been claimed, which is a low level of attendance.  I enjoy being part of something bigger and being involved in voting and governance is enjoyable, as I am directly involved on the future of the organization. 

Resources:

Flexible Leverage Index (FLI) by Index Coop

Index Coop : My 2021 discovery!

Medium : https://medium.com/indexcoop 

Index Coop : https://www.indexcoop.com/

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