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How to Acquire INDEX Tokens
How to Acquire INDEX Tokens
There are three main ways you can acquire $INDEX:You can purchase $INDEX from an exchangeYou can participate in liquidity mining programsOr, you can contribute to the Index Coop
6/22/2021
Index Coop
Content
How to Acquire INDEX Tokens
As a DAO, Index Coop is governed by its community members. Collectively, we use the $INDEX token to propose and vote on new products, the allocation of the treasury, and the future direction of the DAO. There are three main ways you can acquire $INDEX:
You can purchase $INDEX from an exchange
You can participate in liquidity mining programs
Or, you can contribute to the Index Coop
1. Purchase From an Exchange
If you already have an active Ethereum wallet and are familiar with buying and selling currencies on a decentralized exchange (DEX), then you can buy $INDEX that way, too. Uniswap or Sushiswap are a good decentralised exchanges to start.
First, you’ll need to connect your wallet to the exchange of your choice.
Then you can trade whatever currencies you have in your wallet directly for $INDEX.
One last note to keep in mind, you can also buy Index Coop products directly from the Index Coop or TokenSets, which route through Uniswap.
The Index Coop is working on getting $INDEX listed on more centralized exchanges, but for right now you can purchase $INDEX from hoo.com, hotbit.io, and bilaxy.com.
2. Participate in Liquidity Mining Programs
When you provide liquidity to a DEX and stake the LP tokens on a protocol for additional incentives, you are engaging in liquidity mining.
Index Coop is currently running two liquidity mining programs. The DPI/ETH and MVI/ETH pairs are generating a variable yield of 12% and 25% respectively paid out in $INDEX tokens. Keep in mind that this yield is volatile as it is subject to price fluctuations and impermanent loss, and it can also be modified in the future via governance. Once you LP the pairs on Uniswap, bring the LP tokens here to stake them for those extra $INDEX rewards.
There will likely be additional liquidity mining programs implemented in the future as Index Coop continues to develop and bring to market new products.
3. Contribute to the DAO
One of the most exciting ways to earn $INDEX tokens is to contribute to Index Coop itself. There are two primary programs for contributing to the DAO:
Treasury Rewards for Meaningful Contributions
Creating or Contributing to Working Groups
As outlined in the Rewards Distribution and Methodology forum post, meaningful contributions can include, but are not limited to:
Creating valuable content (e.g. a viral meme, Twitter or blog posts, banners/ads, etc.).
Getting integrations with other products (e.g. Compound, Maker, Aave, etc).
Having discussions in Discord, the forum, Twitter, etc. that meaningfully contribute to the community’s conversations and proposals.
Creating product specifications or methodologies.
Each month, contributors post their contributions to the Discord and receive compensation in the form of $INDEX tokens.
If you are interested in participating in the Index Coop community, you can join us on Discord and drop your question in the #help channel!
What is the Index Coop?
The Index Coop is a decentralized autonomous organization (DAO) that creates decentralized financial products that unlock prosperity for everyone. We build simple, powerful index products to provide access to a variety of crypto investment themes and make it simple, safe and affordable to invest in decentralized finance.
How to buy Index Coop products with fiat currencies:
First, you’ll need to create an Ethereum wallet like Argent, Metamask, Gemini, or Rainbow
Next, you’ll set up your new wallet and connect your bank account
Once you’ve deposited fiat currency in your wallet you can exchange it for Index Coop products like
(DPI) or the
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FAQs
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.
Streaming fees (an annual fee paid continuously block-by-block), mint and redeem fees (only on leverage tokens), and borrow costs (interest paid to borrow funds from onchain markets when using leverage).