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🧊 icETH now available on L2 🧊 | May 4th Newsletter
🧊 icETH now available on L2 🧊 | May 4th Newsletter
icETH now available on L2
5/4/2022
Index Coop
Content
icETH now available on L2
May 4th Newsletter
Hi, there! You want it? You got it. icETH is expanding to zkSync to save you on transaction costs with the Argent wallet and ZigZag exchange. Index Coop contributors are packing the sunblock and flip flops we prepare for the upcoming Permissionless conference. We’re looking forward to meeting you there. Why would a DAO consider incorporating? Get the inside scoop on why and how Index is creating a legal entity to benefit contributors and expand operations.
- The Index Coop team
PRODUCT NEWS
🧊 icETH on L2 = Yield on ETH With Fewer Fees 🧊
Since launching last month, icETH has successfully added more than $20 million in assets under management. And more than one of you was asking, "wen icETH on L2?". We’re excited to announce that icETH is now available on Argent via zkSync. With Argent, you’ll be able to securely deposit fiat from Apple Pay or a credit card to buy icETH safely, and transactions can cost up to 100x less. As a true Layer 2 solution, zkSync provides near-instant transactions via the ZigZag exchange that inherit all the security of the Ethereum Layer 1. If you’ve been looking for a long-term buy, hold, and compound opportunity, icETH on L2 may be right for you.
CRYPTO EVENTS
🟣 See You at Permissionless 🟣
In less than two weeks, builders, investors, and degens will congregate in West Palm Beach, FL for what is being anointed as crypto’s "cultural event of the year". The Permissionless conference will feature leading voices in crypto during three days (May 17th-19th) of expert panel discussions. Along with serving as a Platinum sponsor, Index Coop will be on-site to bond on the beach, connect with collaborators, indulge in the nightlife, and co-host a not-to-be-missed $GMI event with Bankless. If you’ll be at Permissionless and want to connect, send us an email: newsletters@indexcoop.com.
DAO NEWS
Index Cooperative Inc.?
How does a decentralized organization sign contracts and perform actions in the real world? Index Coop and other crypto organizations like Balancer, are confronting business and legal complexities by exploring incorporation. So why would a DAO create a legal entity? First, creating one can provide limited liability protection for contributors. It also opens the door to more partnerships and off-chain activity with those that will only enter into a contract or engage with another legal entity. Plus, we need to be in compliance and proactive when it comes to tax laws. At Index Coop, we’ve voted to establish a legal entity, so follow our progress over the next couple of months as we walk down this path.
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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.
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