Welcome to our latest newsletter! As we approach the Shanghai upgrade, we’ll review the progress we’ve made in 2023 and unveil some exciting upcoming developments we can't wait to share with you.
In this issue, you'll find:
— The Index Coop team
As we near the Shanghai upgrade, icETH is proving to be popular on L2 multichain DeFi aggregator, rhino.fi. The platform is now the #9 holder of the product that boats a TVL of over $20 million.
Last week, Index Coop growth contributor Crews sat down with Euclid from Euclid to discuss the rise of L2s and sustainable sources of yield in DeFi.
The Shanghai upgrade is a set of modifications to the Ethereum protocol that, for the first time, allows users to unstake or withdraw their staked ether (ETH). The Shanghai upgrade consists of four Ethereum Improvement Proposals (EIPs), with EIP-4895 being the most prominent.
EIP-4895 enables users to withdraw or "unstake" their ETH, which supports Ethereum's proof-of-stake "Beacon Chain." Although approximately $33 billion worth of staked ETH could be withdrawn and sold after the upgrade, a Shanghai-triggered ETH sell-off is unlikely.
Instead, a successful upgrade is expected to encourage more ETH staking, enhancing the network's stability and growth. The Shanghai upgrade and a second hard fork called Capella will impact Index Coop and its products by reducing risk and improving safety, especially for icETH.
The Index Coop is dedicated to making DeFi simple, secure, and accessible by creating a diverse array of crypto indexes and structured product tokens, offering exposure to various sectors of the crypto market.
The Q1 2023 report aims to promote transparency and accountability, ensuring that token holders remain well-informed and actively engaged in the Coop's success.
This report provides an update on the Coop's performance, covering financial metrics, product development, protocol upgrades, community engagement, and partnership updates.
Our aim is to enable token holders to ask questions, provide feedback, and participate in the Coop's decision-making process, addressing both past and upcoming initiatives.
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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