Institutions that are operating onchain today, and those considering it, are likely to be aware of Safe, previously known as Gnosis Safe. Safe is a digital asset management platform whose multi-signature infrastructure (“multisigs”) allows institutions to flexibly and securely co-manage onchain accounts. With over 17 million transactions, and 4 million accounts created in 2023 alone, Safe is the category leader in this niche of crypto. In fact, it’s hard to name competitors.
At its core, Safe acts like operational and treasury accounts for institutions operating onchain, and as Safe has enjoyed more success and network effects it has been looking to add more value to its users across its platform.
Safe's Apps ecosystem is part of this strategy and enables institutions to execute an expanding number of use cases with their assets within Safe multisigs. Want to interact with Aave, Uniswap, Compound and many others without switching between several platforms? Safe Apps enable you to do just that.
We’re also pleased to report that institutions can now also find the Index Coop app within the Apps ecosystem, via which they can access a range of tokenized crypto strategies in just a few clicks.
Two products which we think might interest Safe users are:
As an example, 1kx, one of crypto's leading VCs, recently used Safe to buy dsETH (disclosure: an investor in Index Coop and Safe). “We think Safe’s App ecosystem is pretty powerful and the Index Coop app being available there offers institutions easy access to powerful structured products in crypto. To access diversified ETH liquid staking returns, we Flash Minted dsETH in a few clicks. It was simple and easy,” said Christopher Heymann, Founding Partner at 1kx.
Note that Safe’s Apps ecosystem delivers Index Coop’s app via an iFrame.
1. Connect wallet and find the Index Coop app.
Connect the wallet associated with one or more of your multisigs in Safe, enter the Apps section, then search for Index Coop.
2. Flash Mint assets: institutions should use the ‘Flash Mint’ function which is designed for users looking to transact hundreds of thousands of dollars and more. Flash Mint actually issues new units of the product by accessing the deepest market liquidity. The Swap function is for smaller transactions, where stablecoins or ETH for example are swapped for the product in DEXs or other liquidity sources in DeFi.
Note the slippage settings to configure and the recommendation to utilize the MEV Blocker network. If you need help, enter our Discord and ask in the help-general channel.
Once you’ve completed the flow, you’ll need to Add to batch or Sign the transaction, then wait for your colleagues to sign and execute before the transaction will complete on the blockchain.
Note: ensure all signers are logged on, with the multisig open and wallets connected and ready to sign. These types of transactions are often time sensitive (<30mins) and can revert or increase the probability of slippage if not executed promptly.
3. View assets in your Safe: enter the Assets section of your multisig to view your new Index Coop product holding. Here’s an example:
As you can see, it’s incredibly easy for Safe users to now access a range of new crypto strategies without leaving the Safe web app. As the Index Coop launches more products - such as cdETI - this range of easy-to-access strategies will grow.
Contact firstname.lastname@example.org to learn more.
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.
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