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gtcETH - Earn ETH Staking Rewards and Fund Public Goods | 3/15 Newsletter
gtcETH - Earn ETH Staking Rewards and Fund Public Goods | 3/15 Newsletter
Learn about the win-win for you and for public goods on Ethereum.
3/15/2023
Index Coop
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gtcETH - Earn ETH Staking Rewards and Fund Public Goods
The U.S. banking industry experienced unforeseen and alarming developments over the last week.
While the price fluctuations of USDC and other leading stablecoins have subsided following a brief depeg, crypto stakeholders remain wary of the potential long-term implications of the bank closures.
It is worth noting that the Index Coop products performed as intended, and our DAO has no funds deposited in any banks.
While we monitor these developments, we remain focused on our products. Read on for more about:
The benefits of gtcETH?
A proposal for a diversified stablecoin yield product
The three new tokens we’ve added to MVI
— The Index Coop team
Earn ETH Staking Rewards and Fund Public Goods
The great thing about gtcETH is that it’s a win-win for you and for public goods on Ethereum.
First, you save time from sorting and sifting through the next funding round of Gitcoin Grants. Your purchase is helping support deserving projects consistently.
Second, you incur no loss of working capital. Your contribution to Gitcoin comes from the ETH staking yield earned by gtcETH. So all you need to do to earn yield and fund public goods simultaneously is buy gtcETH and chill.
Proposal: $MMI - A Diversified Stablecoin-Denominated Yield Product
Last week, the Index Coop Product team proposed launching the Money Market Index ($MMI), a stablecoin-denominated yield product that provides diversified exposure to the top money market yields in DeFi.
$MMI will be built on Index Protocol with integrations to Morpho-Aave, Morpho-Compound, and Notional. Market research shows potential demand from DAO Treasuries, Wallet Providers, Agile Funds, and On-chain Retail users.
$MMI will have an annualized streaming fee of 0.15%, with any protocol incentives going to Index Coop. The stablecoins that pass inclusion criteria will be equally weighted within the index, rebalancing every three months.
Say Hello To MVI’s Newest Tokens: $ENS, $IMX, and $GALA
The Metaverse Index (MVI) has added three new tokens to reflect the Metaverse and Gaming activities trend in virtual economies powered by blockchain technology and NFTs.
The new tokens are Ethereum Name Service (ENS), ImmutableX (IMX), and Gala Games (GALA). ENS is a decentralized naming system built on Ethereum, while ImmutableX is a Layer-2 scaling solution for Ethereum, and Gala Games is a blockchain-based gaming platform that aims to create a decentralized gaming ecosystem.
The changes to MVI aim to provide a more reliable and stable index composition that more accurately captures the emerging ecosystem of the metaverse and web3 gaming.
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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).