Mar 30 | 3 min read
Hi, there! It’s an exciting week at Index Coop: DPI, our flagship DeFi Pulse Index offering, and INDEX, our governance token, are now supported on Gemini, the largest cryptocurrency exchange and custodian. We’ll also introduce some ways you can make DPI more productive. Since it is built on Ethereum, DPI acts as a DeFi money lego that unlocks new and innovative ways to allocate capital and earn yield. And we’ll introduce you to Maker (MKR), the governance token for the MakerDAO, an O.G. in the DeFi space, and an asset in the DeFi Pulse Index. The Index Coop team
We are thrilled to announce that the DeFi Pulse Index (DPI) and INDEX token are now both supported by Gemini. Gemini is a next-generation cryptocurrency exchange and custodian that allows customers to buy, sell, store and earn digital assets. Being listed on Gemini means you will be able to easily gain exposure to both DPI and INDEX. Trading begins soon, opening first on the API/FIX and ActiveTrader applications for USD trading pairs. They will then be available for trade on the Gemini mobile app and website. Also included in Gemini's announcement are three protocols featured in our Bankless DeFi Innovation Index (GMI): Maple Finance (MPL), Frax Finance (FRAX, FXS), and Ribbon Finance (RBN).
The DeFi Pulse Index (DPI) is a digital asset index designed to track tokens’ performance within the decentralized finance industry. DPI focuses on projects that have significant usage and show a commitment to ongoing maintenance and development. But what can you do with DPI besides ‘buy and hold’? Because DPI is built on Ethereum, it acts as DeFi money lego that unlocks new and innovative ways to allocate capital and earn yield. DeFi also allows users the opportunity to take advantage of a myriad of services not found in traditional finance. If you’re interested in learning more about liquidity provisioning, yield farming, or additional ways of gaining yield on your DPI, be sure to check our full guide.
The DeFi Pulse Index (DPI) features exposure to a total of fourteen underlying blue-chip protocols, including MKR, the governance token for MakerDAO. MakerDao is an open-source project built on the Ethereum blockchain that allows users to generate Dai by leveraging assets approved by MakerDao Governance. Dai is a decentralized and collateral-backed stablecoin soft-pegged to the USD. This means that the price of Dai loosely follows the price of the USD. This is achieved through a system of smart contracts on the Ethereum blockchain. Stablecoins are an important part of the DeFi ecosystem and MakerDao is at the forefront of this essential infrastructure. Unlike other stablecoins, Dai is truly decentralized as it is maintained through a DAO and collateralized through the MakerDAO protocol.
Disclaimer: This content is for informational purposes only and should not be construed as legal, tax, investment, financial, or other advice.
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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