🪙 MNYe - A basis trading strategy tokenized 🪙 | August 3rd Newsletter
We’re launching a new product — Market Neutral Yield ($MNYe).
August 3, 2022
🪙 MNYe - A basis trading strategy tokenized 🪙
August 3rd Newsletter
Hi, there! This week, we’re excited to share that we’re launching a new product — Market Neutral Yield ($MNYe). This token automates a continuous basis trading strategy that returns a high, price-neutral yield to holders. Next, we’ll dive into how MNYe holders can earn additional yield by providing liquidity. Lastly, I spill the details of how you can help choose the topics and participate in our upcoming August Index Community Call.
-@thekindeagle and the Index Coop team
PRODUCT NEWS
📈 Sustainable Yield in Volatile Markets 📉
The Index Coop is excited to announce the launch of its first yield product on Optimism — Market Neutral Yield ETH ($MNYe). Built using Set Protocol’s integration with Perpetual Protocol on Optimism, MNYe automates a continuous basis trading strategy that returns a high, price-neutral yield to token holders. Basis trading, also known as cash-and-carry arbitrage, is an established strategy for achieving price-neutral profit by arbitraging the difference between an asset price on the spot and near-term futures markets.
PRODUCT NEWS
🪙 How to Earn Additional Yield with MNYe 🪙
Providing liquidity is one way of generating additional yield with the MNYe token. Decentralized exchanges present liquidity providers (LPs) with the opportunity to earn a portion of fee revenue. By pairing MNYe against another stable coin such as USDC, LPs can benefit from transaction fees with little chance of impermanent loss due to the stable nature of the pair.
INDEX EVENTS
☎️ Hoot! Hoot! Calling All Owls! ☎️
Join us this Thursday at 10 am Eastern/ 2 pm UTC for the August Index Coop Community Call. There’s a lot going on, so feel free to jump into our Discord and let us know what you are most interested in discussing this week. Potential topics include: 🚙 - Product roadmap 🚀 - General org updates/recent changes 🪙 - MNYe (new) product launch 💰 - Season 2 budget and quarterly financial report
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.
You shall not purchase or otherwise acquire our restricted token products if you are: a citizen, resident (tax or otherwise), and/or green card holder, incorporated in, owned or controlled by a person or entity in, located in, or have a registered office or principal place of business in the U.S. (defined as a U.S. person), or if you are a person in any jurisdiction in which such offer, sale, and/or purchase of any of our token products is unlawful, prohibited, or unauthorized (together with U.S. persons, a “Restricted Person”). The term “Restricted Person” includes, but is not limited to, any natural person residing in, or any firm, company, partnership, trust, corporation, entity, government, state or agency of a state, or any other incorporated or unincorporated body or association, association or partnership (whether or not having separate legal personality) that is established and/or lawfully existing under the laws of, a jurisdiction in which such offer, sale, and/or purchase of any of our token products is unlawful, prohibited, or unauthorized).
