Institutions Can Now Access Crypto Strategies Via The Safe Apps Ecosystem

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.

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Two products which we think might interest Safe users are:

1. cdETI: an ETH Trend Indicator token which the Index Coop launched in October with CoinDesk Indices. cdETI aims to provide holders with exposure to ETH during bull markets, but avoid prolonged drawdowns of bear markets by allocating to USDC - hopefully delivering better returns, with less volatility, than simply holding ETH. Institutions which allocate to crypto and use systematic strategies, and which like tokens which abstract away buy, sell and compounding events, may find cdETI interesting. Read the cdETI product page to learn more or contact institutions@indexcoop.com.
   
   
2. dsETH: a basket of ETH liquid staking tokens which provides diversified access to ETH liquid staking returns via a simple, robust methodology. Institutions desiring diversified access to these ETH staking yields, where the token manages all the rebalance and compounding events internally may find dsETH interesting. See the dsETH webpage to learn more and read on to learn how 1kx bought dsETH via Safe.
   

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.

How to purchase dsETH via Safe

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.

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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.

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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:

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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 institutions@indexcoop.com to learn more.