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Bankless Bullish On The $INDEX Token | 1/11 Newsletter
Bankless Bullish On The $INDEX Token | 1/11 Newsletter
Inside this week’s newsletter, Bankless upgrades rating of the $INDEX token.
1/11/2023
Index Coop
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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
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FAQs
Index Coop yield tokens simplify earning yield in DeFi by automating complex strategies and diversifying across protocols. They are user-friendly and cost-efficient, appealing to both new and seasoned DeFi users.
Leverage tokens automate a leveraged position by utilizing onchain money markets like Aave or Morpho to borrow funds, amplifying a user's exposure to an asset without requiring manual management. The token's smart contracts autonomously handle the borrowing, lending, and rebalancing of assets, maintaining a consistent leverage ratio despite market fluctuations. This automation eliminates the complexities of collateral management and liquidation risks, while also charging low, transparent fees that avoid expensive funding rates often charged by perps.
Index Coop is a decentralized autonomous organization (DAO) that specializes in creating and maintaining onchain structured products. Index Coop aims to democratize access to the crypto market, empowering everyone to participate in the growing digital asset ecosystem with ease.
No, yield automatically compounds and accrues to the token price. The value of the tokens you hold in your wallet will simply go up over time without the need to claim or compound rewards.
Index Coop products protect you from liquidation with automated risk management that rebalances assets to maintain a target leverage ratio that avoids liquidation.
INDEX is the ERC-20 governance token on Ethereum for Index Coop. INDEX empowers its holders to participate in decision-making processes that shape the future of Index Coop.
Yes, all Index Coop products are instantly redeemable for their underlying value at all times.
Yes, all Index Coop smart contracts have been audited by leading independent security firms such as OpenZeppelin, ABDK, Isosiro, & more. There is also an active bug bounty program through ImmuneFi. Audit information is published in the docs here.
Streaming fees (an annual fee paid continuously block-by-block), mint and redeem fees (only on leverage tokens), and borrow costs (interest paid to borrow funds from onchain markets when using leverage).