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🌋 Understand the NFT Explosion 🌋 | July 27th Newsletter
🌋 Understand the NFT Explosion 🌋 | July 27th Newsletter
We take a look at the growing utility of NFTs.
7/26/2022
Index Coop
Content
🌋 Understand the NFT Explosion 🌋
July 27th Newsletter
Hi, there! Whether you’ve been in crypto since way back or just getting started, there’s always something new to learn. This week, we take a look at the growing utility of NFTs. Galaxy Digital Research’s white paper dives deep into the increasing number of use cases for these financial primitives. Also, have a listen to our recent Twitter Spaces with Zerion. Learn how crypto index products can save you time and help diversify your holdings. Finally, check out this broad discussion about all things Merge. Scalara and Index Coop contributors explain why this big change to Ethereum matters.
-@thekindeagle and the Index Coop team
PRODUCT NEWS
🖼 The Growing Utility of NFTs 🖼
While DeFi provided the initial boost to the crypto ecosystem, NFT (Non-fungible token) sales have grown from $59.3m in 2020 to over $12B in 2021. NFTs are now the way that many people first interact with blockchain technology. Centralized exchanges and cutting-edge crypto protocols are building products, like the JPG NFT Index (JPG), as NFT utility expands.
In this whitepaper from Galaxy Digital Research, you’ll learn why NFTs are more than just expensive monkey or pixelated punk images.
CRYPTO EVENTS
📈 The Benefits of Structured DeFi Products 📈
Who has time to both research and accurately pick tokens that will grow and provide long-term value? Structured DeFi products provide a secure, time-effective way to gain exposure to this new asset class.
Index Coop’s @theyoungcrews joined NFT & DeFi portfolio tracker, Zerion, and a few other builders to discuss crypto structured products on Twitter Spaces. From defining what crypto structured products are to how they provide diversified exposure in a single ERC-20 token, it’s definitely worth a listen.
CRYPTO EVENTS
🎥 Why The Merge Matters 🎥
The Merge is one of the most anticipated events in cryptocurrency. Slated for late 2022, the Merge refers to the planned change from proof-of-work to proof-of-stake on Ethereum. To learn more, watch this video featuring Allan Gulley from Index Coop and Nathan Howard from Scalara. This wide-ranging discussion provides a brief overview of the Merge and the downstream effects to DeFi caused by the changing supply dynamics for ETH.
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FAQs
Streaming fees (an annual fee paid continuously block-by-block)
Mint and redeem fees
Borrow costs (interest paid to borrow funds from onchain markets when using leverage)
Index Coop yield tokens simplify earning yield in DeFi by automating complex strategies and diversifying across protocols. They are user-friendly and cost-efficient, appealing to both new and seasoned DeFi users.
Leverage tokens automate a leveraged position by utilizing onchain money markets like Aave or Morpho to borrow funds, amplifying a user's exposure to an asset without requiring manual management. The token's smart contracts autonomously handle the borrowing, lending, and rebalancing of assets, maintaining a consistent leverage ratio despite market fluctuations. This automation eliminates the complexities of collateral management and liquidation risks, while also charging low, transparent fees that avoid expensive funding rates often charged by perps.
Index Coop is a decentralized autonomous organization (DAO) that specializes in creating and maintaining onchain structured products. Index Coop aims to democratize access to the crypto market, empowering everyone to participate in the growing digital asset ecosystem with ease.
No, yield automatically compounds and accrues to the token price. The value of the tokens you hold in your wallet will simply go up over time without the need to claim or compound rewards.
Index Coop products protect you from liquidation with automated risk management that rebalances assets to maintain a target leverage ratio that avoids liquidation.
INDEX is the ERC-20 governance token on Ethereum for Index Coop. INDEX empowers its holders to participate in decision-making processes that shape the future of Index Coop.
Yes, all Index Coop products are instantly redeemable for their underlying value at all times.
Yes, all Index Coop smart contracts have been audited by leading independent security firms such as OpenZeppelin, ABDK, Isosiro, & more. There is also an active bug bounty program through ImmuneFi. Audit information is published in the docs here.
Costs and fees vary by product, but typically most products can include some combination of the following: