About
The Money Market Index ($icSMMT) is an index token of the top stablecoins distributed across variable-rate, peer-to-peer, and fixed-rate lending positions on Ethereum mainnet. Within the index, USDC, DAI, and USDT are deposited into the most battle-tested money market protocols: Morpho, Notional, Aave v2, and Compound. The composition is defined by a methodology that sets equal weights for each stablecoin and determines which protocols to deposit to based on historical rate data.
The objective of the Money Market Index is to enable token holders to access sustainable stablecoin yields through a single token by building on the most battle-tested money market protocols.
Stablecoins that pass the inclusion criteria are equally weighted within the index, resulting in a balanced composition of USDC, DAI, and USDT at launch. Distribution across protocols is determined by comparing Base APYs using a 180 DMA for all protocols that meet the inclusion criteria; this measurement excludes incentives or non-stablecoin rewards in order to determine “real yield” per position. Each stablecoin is then split evenly between the two highest-yielding positions across two distinct protocols.
The Money Market Index will be rebalanced on a quarterly basis or every three months in line with Notional fCash maturities. Analysis will be performed before each rebalance to determine if new stablecoins or money market protocols are eligible for inclusion according to the methodology.
Streaming fee: 0.15%
Mint fee: 0%
Redeem fee: 0%
The following risks may apply to this digital asset: full or partial loss of digital assets due to technical hacks, exploits, or failures that may occur at the protocol or smart contract level of a product’s infrastructure; restrictions placed on the digital assets by regulatory authorities in the end users region; loss of digital assets or loss of access to the digital assets due to decisions made by centralized providers of the underlying assets; full or partial loss of digital assets through standard product operations which can be hampered by unexpected market conditions; full or partial loss of digital assets due to changes to underlying product assets made by the originating protocols; full or partial loss of digital assets due to volatility, correlation, value at risk, and contagion risks; underperformance of digital assets due to deviation from intended methodology; full or partial loss of digital assets due to the volatility of underlying tokens.
