Index Coop, a decentralized index community initiated by Set Protocol, launched governance tokens, and 9% of tokens were allocated to liquid mining.
Written by: Set Protocol
The DeFi Pulse Index is now available for purchase on the automated asset management platform TokenSets!
The Set Protocol team and the DeFi Pulse team announced the launch of the DeFi Pulse Index (DPI) index on the automated asset management platform TokenSets. The DeFi Pulse Index (DPI) is built on the infrastructure of Set Protocol V2 and is composed of the top 10 most popular DeFi project tokens on Ethereum, namely LEND, YFI, COMP, SNX, MKR, REN, KNC , LRC, BAL and REPv2. It is currently available for purchase on the TokenSets platform and our partners Pillar, Zapper, Dharma and other platforms.
At the same time, Set Protocol launched Index Cooperative (“Index” or “Index Coop”), a global decentralized index creation community. With the joint contributions of community members, Index has the opportunity to become the world’s largest cryptocurrency asset management platform
Focus
- DeFi Pulse Index is composed of 10 most popular DeFi project tokens, including LEND, YFI, COMP, SNX, MKR, REN, KNC, LRC, BAL and REPv2
- You can buy DeFi Pulse Index on the TokenSets platform
- Announcing the launch of Index Cooperative (“Index” or “Index Coop”), a global decentralized index creation community
- INDEX is a governance token launched by Index Cooperative. 70% of the tokens will be allocated to the community to encourage community members to participate in the governance of the community
- INDEX allocates a part of the initial supply to holders of DeFi Pulse Index (old users), and at the same time starts DPI/ETH Uniswap liquidity mining
DeFi Pulse and Set Protocol team reached a strategic cooperation
A few months ago, the Set Protocol and DeFi Pulse teams discovered a clear pain point for users-there is currently no simple, low-cost, and open way to purchase an index composed of multiple DeFi project tokens. This causes users to face difficulties in the allocation of investment assets, and it is also difficult for users to judge what a high-quality DeFi project is worth investing in.
In order to solve this problem, we have established a rigorous method to create the DeFi Pulse Index (DPI) through close cooperation in the past few months. We believe this will be the easiest way for people to access high-quality DeFi projects.
Index Benefits
The DeFi Pulse Index (DPI) index is the simplest and low-cost way to participate in the investment of DeFi projects, and users do not need to manually purchase multiple tokens from multiple exchanges. This can help users greatly reduce the Ethereum network handling fee, because users only need to pay the Ethereum network handling fee once when purchasing Index on TokenSets or other platforms. At the same time, users can also sell their purchased Index on the same platform.
The DeFi Pulse Index is not a derivative, but an ERC20 combination token that includes 10 DeFi tokens. Therefore, it has strong integrability and can be used as collateral on platforms such as Aave or Compound, and can also be used as pledge assets for liquid mining.
How to buy Index
You can easily purchase DeFi Pulse Index through the following platforms:
- TokenSets
- Uniswap
- Pillar
- Dharma
- Monolith
- Zapper
- Frontier
- DeFi Saver
Here we will teach you how to buy DeFi Pulse Index (DPI) step by step. Copy the following link to open the dedicated page of DeFi Pulse Index in the TokenSets platform.
On this page, you can find all relevant information about the DPI index, including: price history, current index composition, etc.
After you successfully log in, you can click the Buy button, and on the pop-up purchase pop-up window, enter the quantity you want to purchase and select the asset you want to pay for. (The TokenSets platform currently supports the use of DAI, USDC, USDT and ETH to purchase DPI)
Now you can Preview Buy button and preview the details of the order. Click the Submit Buy button and confirm the transaction through the Ethereum wallet.
Congratulations, you are now a holder of the DeFi Pulse Index! You can use any wallet that supports ERC20 tokens to store DPI Sets.
The Index Cooperative
Index Coop is the first decentralized organization initiated by the community, focusing on creating and managing cryptocurrency indexes. In order to realize this vision, we hope that Index Coop can work with global financial talents, cryptocurrency experts and teams to create/manage high-quality cryptocurrency indexes, govern system parameters, and embed the agreement in more distribution channels.
The first index managed by Index Coop is the DeFi Pulse Index (DPI). This index was jointly launched by the Set Protocol and DeFi Pulse teams. There are currently USD 14 million locked assets and 1,500 sole holders.
Opportunities for decentralized index communities
In the traditional financial sector, ETFs and index products are the most traded financial products. BlackRock ($7.4T AUM) & Vanguard ($6.2T AUM) are the world’s largest asset management platforms. Currently we believe that Index Coop, as a pioneer in this field, will have the opportunity to become a leader in cryptocurrency index products.
Because the community has always been the most important factor in the development, growth, and sustainable development of cryptocurrency projects, the strength of the community will also become the key to the success of Index Coop.
If the community can work together, we believe that the Index Coop community will have the opportunity to witness the acceptance and use of decentralized financial services by the public.
The INDEX governance token
The Index Coop launched the INDEX governance token to incentivize the community to jointly govern the decentralized index community. In order to be able to sustainably grow, INDEX holders have the responsibility to participate in the following key decisions:
- Add index
- Allocate community funds
- Update management and other fee settings
- Improve index performance
Token distribution
The total supply of INDEX is 10,000,000 pieces:
- Community: 70% is allocated to the community, including initial supply allocation, liquidity mining, index management rewards, community fund pool
- Team: 30% is allocated to the Set Protocol team and the DeFi Pulse team
Liquidity mining
9% of INDEX tokens are allocated to liquid mining for a period of 60 days (started at 12:00 PM PDT on 2020/10/07). Tokens can be obtained directly through liquidity mining.
How to participate in liquidity mining:
- Purchase DeFi Pulse Index (DPI) on the TokenSets platform.
- After obtaining DPI, go to the ETH/DPI liquidity pool in Uniswap
- Add liquidity to Uniswap ETH/DPI liquidity pool and obtain Uniswap LP Token
- Go to Index Coop website
- Connect your wallet and go to the Farm page
- Stake your Uniswap LP Token and complete the Stake
- You will start accumulating INDEX immediately
