gtcETH - Earn ETH Staking Rewards and Fund Public Goods | 3/15 Newsletter
Learn about the win-win for you and for public goods on Ethereum.
March 15, 2023
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gtcETH - Earn ETH Staking Rewards and Fund Public Goods
The U.S. banking industry experienced unforeseen and alarming developments over the last week.
While the price fluctuations of USDC and other leading stablecoins have subsided following a brief depeg, crypto stakeholders remain wary of the potential long-term implications of the bank closures.
It is worth noting that the Index Coop products performed as intended, and our DAO has no funds deposited in any banks.
While we monitor these developments, we remain focused on our products. Read on for more about:
- The benefits of gtcETH?
- A proposal for a diversified stablecoin yield product
- The three new tokens we’ve added to MVI
— The Index Coop team
Earn ETH Staking Rewards and Fund Public Goods
The great thing about gtcETH is that it’s a win-win for you and for public goods on Ethereum.
First, you save time from sorting and sifting through the next funding round of Gitcoin Grants. Your purchase is helping support deserving projects consistently.
Second, you incur no loss of working capital. Your contribution to Gitcoin comes from the ETH staking yield earned by gtcETH. So all you need to do to earn yield and fund public goods simultaneously is buy gtcETH and chill.
Proposal: $MMI - A Diversified Stablecoin-Denominated Yield Product
Last week, the Index Coop Product team proposed launching the Money Market Index ($MMI), a stablecoin-denominated yield product that provides diversified exposure to the top money market yields in DeFi.
$MMI will be built on Index Protocol with integrations to Morpho-Aave, Morpho-Compound, and Notional. Market research shows potential demand from DAO Treasuries, Wallet Providers, Agile Funds, and On-chain Retail users.
$MMI will have an annualized streaming fee of 0.15%, with any protocol incentives going to Index Coop. The stablecoins that pass inclusion criteria will be equally weighted within the index, rebalancing every three months.
Say Hello To MVI’s Newest Tokens: $ENS, $IMX, and $GALA
The Metaverse Index (MVI) has added three new tokens to reflect the Metaverse and Gaming activities trend in virtual economies powered by blockchain technology and NFTs.
The new tokens are Ethereum Name Service (ENS), ImmutableX (IMX), and Gala Games (GALA). ENS is a decentralized naming system built on Ethereum, while ImmutableX is a Layer-2 scaling solution for Ethereum, and Gala Games is a blockchain-based gaming platform that aims to create a decentralized gaming ecosystem.
The changes to MVI aim to provide a more reliable and stable index composition that more accurately captures the emerging ecosystem of the metaverse and web3 gaming.
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