icETH and dsETH on More Chains | 3/22 Newsletter
Rhino.fi and Index Coop Join Forces to Make ETH Staking More Accessible
March 22, 2023
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icETH and dsETH on More Chains
Wen Arbitrum? Wen Optimism? Wen Binance?
We get plenty of people reaching out to us that would love to see our tokens on L2 chains beyond zkSync.
Launching a token on multiple cryptocurrency chains is challenging due to technical complexities, liquidity issues, security concerns, interoperability challenges, operational costs, and regulatory compliance.
At Index Coop, we’re working on technical improvements and developing win-win partnerships to make this happen. With this collaborative approach, we can launch tokens across various chains efficiently and securely.
Read on for more about:
- icETH and dsETH now available on Arbitrum, Polygon, and BNB Chain
- icETH goes +20% APY during stablecoin volatility
- Fidelity Crypto launches, giving millions access to BTC and ETH
— The Index Coop team
Rhino.fi and Index Coop Join Forces to Make ETH Staking More Accessible
rhino.fi now offers icETH and dsETH on its platform, providing a seamless cross-chain experience without complicated bridges or network switches. As a self-custodial platform, rhino.fi ensures full privacy and control of your funds at all times.
With rhino.fi, users can stake and unstake at their convenience, enjoying reduced fees thanks to the Layer 2 implementation. The platform aims to deliver the best DeFi opportunities, enabling users to earn higher APY while minimizing risks.
With rhino.fi, you can now buy and hold Index products on Arbitrum, Polygon, and BNB Chain.
More About Index Coop Products on rhino.fi
Stablecoin Volatility Leads to +20% APY for icETH
The recent turbulence in the banking sector led to a temporary depegging of USDC and various other stablecoins, creating a less than optimal situation.
During this period of instability, icETH's APY surged past 20%, and its total value locked (TVL) approached an all-time high of $19.7 million.
Although USDC has since regained its $1 peg, icETH continues to perform well, highlighting the significance of holding a diversified portfolio of assets to better navigate market fluctuations.
Fidelity Crypto Launches, Giving Millions Access to BTC and ETH
Fidelity Crypto is now open to the public, granting millions of users access to bitcoin and ETH. Previously, the firm's retail product was only accessible through a waitlist, which has now been opened to all users.
Fidelity Digital Assets allows commission-free trading of bitcoin and ether on the platform, with a spread of no more than 1% being charged. Unlike DeFi, it is not available in all states, and withdrawals have not yet been enabled.
Fidelity has over 37.1 million retail clients and has been faster to adopt crypto than many of its US peers. It will be interesting to see if this helps spur the growth of crypto assets amongst retail consumers.
Only one question: Wen structured products?
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