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Enter the Index Coop’s PRT explainer competition
Enter the Index Coop’s PRT explainer competition
Winner will receive 100 hyETH PRTs
4/10/2024
Index Coop
Content
This week the Index Coop launched a presale for a High Yield ETH Index. Depositors who deposit capital to the token will be rewarded with a new incentive, Product Revenue Tokens (PRTs). The PRTs will entitle holders to a share of the current and revenue from the High Yield ETH Index, if it meets its presale threshold and launches.
You can learn more about PRTs here.
As part of the hyETH presale and the launch of PRTs, we’re also hosting an explainer competition. Users who create winning PRT explainer posts on X will be rewarded with PRTs and INDEX tokens
Read on to learn more about the Index Coop’s hyETH PRT explainer competition:
How many PRTs and INDEX tokens do the winners receive?
There will be a prize for 1st, 2nd, and 3rd place.
1st: 100 INDEX tokens
and
100 PRTs
2nd: 70 INDEX tokens
and
70 PRTs
3rd: 30 INDEX tokens
and
30 PRTs
What kinds of explainers are eligible?
PRTs represented a sophisticated new way of sharing the revenue from Index Coop products. We’ve done our best to explain how they work here and here, but we’re hoping the community can help us make these complex tokens even more understandable. Memes, animation, illustration, or prose, we’re open to all formats.
Where should I publish my explainer?
You can post your explainer on Mirror, Medium, Substack, or X. Pretty much any publishing platform or medium is eligible.
How can I submit my explainer?
Make sure to:
Post a link to your explainer on X
tag @indexcoop
Add the hashtag #hyETHPRTs somewhere in the post
Who will judge the explainer submissions?
The submissions will be reviewed by Index Coop DAO contributors and a short list will be presented to the Index Insiders—a gated community of supporters who hold >$1,000 of $INDEX and/or Index Coop products—to be voted on.
Submissions will be judged on how well they articulate the PRT concept as well as their flair, humor, creativity, and originality. Engagement and impressions they generate are also important.
What is the deadline for submitting an explainer?
The submission window closes on Wednesday April 24th.
When will the winners be announced?
The winners will be announced on Friday April 26th.
How will the PRTs be disbursed to the winners?
Index Coop will reach out to the competition winners, to privately receive their address details, so we can send them the hyETH PRTs once they are available.
I have questions, where can I ask them?
Jump into the Index Coop Discord, look for the create-ticket channel, then click ‘Create Ticket’. A contributor will get back to you asap.
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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).