Bankless Bullish On The $INDEX Token | 1/11 Newsletter
Inside this week’s newsletter, Bankless upgrades rating of the $INDEX token.
January 11, 2023
To get analysis & updates from Index Coop delivered to your inbox, subscribe to the Index Insights newsletter.
Bankless Bullish On The $INDEX Token
At Index Coop, we believe everyone should have the opportunity to benefit from the power and potential of cryptocurrency.
Whether it’s an upcoming product release or integration with a service like Dexible, we take pride in creating simple solutions that provide sustainable value.
Inside this week’s newsletter:
- Bankless upgrades rating of the $INDEX token
- How to dollar cost average into Index Coop products
- Deprecation of several Index Coop products is now complete
— The Index Coop team
Bankless Upgrades $INDEX to ✅Overweight
We’re pleased to share that Bankless has upgraded their rating of $INDEX from neutral to overweight.
This new rating reflected Bankless’ confidence that $INDEX will outperform the broader market over the next six months.
The upgraded rating is due in part to the expectation that Ethereum’s Shanghai network upgrade will lead to significant inflows into liquid staking protocols, as it will de-risk staking by enabling withdrawals. This will benefit certain Index Coop products, as we double down on staking products in 2023.
We already offer icETH, which has $14.1M in TVL and tokenizes a recursive-leverage strategy using stETH and Aave. And in a matter of weeks, we’ll be launching dsETH, a liquid-staking derivatives index token.
Check out Bankless’s January 2023 Token Ratings
Dollar Cost Average into Index Products with Dexible
Until now, there hasn’t been a simple and gas-efficient way to dollar cost average (DCA) into Index Coop products. That’s changed thanks to Dexible.
Dexible is a decentralized exchange (DEX) aggregator and execution management system (EMS) optimizing trade life-cycle support in DeFi.
Dexible’s noncustodial and audited platform helps by deploying capital efficiently. It has algorithmic trading strategies baked in and provides different order types.
For those who want to DCA, TWAP (Time Weighted Average Price) orders take the average price over some number of hours and purchase small fills at or below the average price intermittently until a stated amount of time expires. Because of the conditions, partial fills are likely.
TWAP is like dollar cost averaging over a set time (hours, days).
Start DCAing icETH or DPI today
Update: End of Support for Deprecated Products
On December 27th, our engineering team finished the final step in the deprecation of several products, including the Bankless DeFi Innovation Index (GMI), Market Neutral Yield ETH (MNYe), Web3 Data Economy Index (DATA), and the suite of Polygon FLIs (ETH2x-FLI-P, BTC2x-FLI-P, Matic2x-FLI-P, iETH-FLI-P, iBTC-FLI-P, iMatic-FLI-P).
Those holding legacy products can redeem them via https://legacyproducts.indexcoop.com/.
If you have any questions or need assistance, please visit us in Discord.
Details About Product Deprecation
To get analysis & updates from Index Coop delivered to your inbox, subscribe to the Index Insights newsletter.
Disclaimer: This content is for informational purposes only and is not legal, tax, investment, financial, or other advice. You should not take, or refrain from taking, any action based on any information contained herein, or any other information that we make available at any time, including blog posts, data, articles, links to third-party content, discord content, news feeds, tutorials, tweets, and videos. Before you make any financial, legal, technical, or other decisions, you should seek independent professional advice from a licensed and qualified individual in the area for which such advice would be appropriate. This information is not intended to be comprehensive or address all aspects of Index or its products. There is additional documentation on Index’s website about the functioning of Index Coop, and its ecosystem and community.
You shall not purchase or otherwise acquire our restricted token products if you are: a citizen, resident (tax or otherwise), and/or green card holder, incorporated in, owned or controlled by a person or entity in, located in, or have a registered office or principal place of business in the U.S. (defined as a U.S. person), or if you are a person in any jurisdiction in which such offer, sale, and/or purchase of any of our token products is unlawful, prohibited, or unauthorized (together with U.S. persons, a “Restricted Person”). The term “Restricted Person” includes, but is not limited to, any natural person residing in, or any firm, company, partnership, trust, corporation, entity, government, state or agency of a state, or any other incorporated or unincorporated body or association, association or partnership (whether or not having separate legal personality) that is established and/or lawfully existing under the laws of, a jurisdiction in which such offer, sale, and/or purchase of any of our token products is unlawful, prohibited, or unauthorized).
