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icETH On L2 Is Proving Popular| 4/5 Newsletter
icETH On L2 Is Proving Popular| 4/5 Newsletter
Learn earning sustainable on-chain yield with rhino.fi.
4/5/2023
Index Coop
Content
Welcome to our latest newsletter! As we approach the Shanghai upgrade, we’ll review the progress we’ve made in 2023 and unveil some exciting upcoming developments we can't wait to share with you.
In this issue, you'll find:
icETH's success on L2 multichain DeFi aggregator, rhino.fi
The Shanghai upgrade and its implications for Index Coop products
An inside look at Index Coop’s first quarter of 2023
— The Index Coop team
Sustainable On-Chain Yield with rhino.fi & Index Coop
As we near the Shanghai upgrade, icETH is proving to be popular on L2 multichain DeFi aggregator, rhino.fi. The platform is now the #9 holder of the product that boats a TVL of over $20 million.
Last week, Index Coop growth contributor Crews sat down with Euclid from Euclid to discuss the rise of L2s and sustainable sources of yield in DeFi.
The Shanghai Upgrade & Index Coop Products
The Shanghai upgrade is a set of modifications to the Ethereum protocol that, for the first time, allows users to unstake or withdraw their staked ether (ETH). The Shanghai upgrade consists of four Ethereum Improvement Proposals (EIPs), with EIP-4895 being the most prominent.
EIP-4895 enables users to withdraw or "unstake" their ETH, which supports Ethereum's proof-of-stake "Beacon Chain." Although approximately $33 billion worth of staked ETH could be withdrawn and sold after the upgrade, a Shanghai-triggered ETH sell-off is unlikely.
Instead, a successful upgrade is expected to encourage more ETH staking, enhancing the network's stability and growth. The Shanghai upgrade and a second hard fork called Capella will impact Index Coop and its products by reducing risk and improving safety, especially for icETH.
Read More About The Shanghai Upgrade
Index Coop Q1 2023 Update
The Index Coop is dedicated to making DeFi simple, secure, and accessible by creating a diverse array of crypto indexes and structured product tokens, offering exposure to various sectors of the crypto market.
The Q1 2023 report aims to promote transparency and accountability, ensuring that token holders remain well-informed and actively engaged in the Coop's success.
This report provides an update on the Coop's performance, covering financial metrics, product development, protocol upgrades, community engagement, and partnership updates.
Our aim is to enable token holders to ask questions, provide feedback, and participate in the Coop's decision-making process, addressing both past and upcoming initiatives.
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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).