The option project is not like the venture capital firm Will Index Coop, led by Sequoia Capital India, to replace ETFs?

Tracking “smart money” has always been a great way to invest. The real challenge is deciding who is smart, understands and synchronizes their work. Spending a lot of time learning big business plans one by one is not suitable for most small and medium-sized entrepreneurs.

Encrypted indexes are a good choice.

On December 8, Index Coop, a contracted cryptocurrency index, announced it had made investments of $ 2.25 million, along with Sequoia Capital India, Blockchain Ventures and White Star Capital. Simon Judd, chair of Index Coop's business development working group, said the new funding would increase full-time staff and ensure the contract remains stable.

Index Coop achieved a net worth of $ 7.75 million in July of this year, and Galaxy Digital and 1kx took the investment. Financial firm Phil DiIorio and others were involved. At the time, the funds were mainly used to hire more engineers, expand ETF-like products to other networks, and strengthen the long-term financial security of the contract. .

Index Coop operates like a financial services company like Vanguard or Merrill Lynch. Create a cryptocurrency basket with a mix of Bitcoin, Ethereum, and other cryptocurrencies that people can invest in. However, Index Coop operates as a DAO close to the asset management organization. The rating scale was also determined by a vote of DAO members using INDEX tokens (smacks of belief in the intelligence of the group).Lemonade Alpha, an anonymous leader on the project, said that when it comes to Index Coop, DAO is a collection of DeFi experts, developers and entrepreneurs. . Every individual or organization, whether it's Set Labs, DeFi Pulse, or an affiliate venture capitalist today, has the power to manage the power of many variables. Index Coop DAO has over 6,000 members on their Discord servers, but the core of their daily operations (paid by DAO) is around 100.

Index Coop has also developed DeFi quality products including DeFi Pulse Index (DPI), Metaverse Index (MVI), ETH2x-FLI and BTC2x-FLI (Consumer Electronics), Bankless BED Index (BED) and the Data Economy index. . (information). Retailers and trading companies can expect to receive a lot of exposure in the crypto industry.

In an interview with Decrypt, Director of Index Coop BD, “Our goal is to make the world a safer, more profitable place to invest. It's easier when people follow the but and the basket of cryptocurrencies and start. to get in touch with this investment space. But that's it. "

Index Coop's assets under management once exceeded $ 500 million, but after recent economic reform they have fallen to $ 419 million.The most popular is the ETH 2x Flexible Leverage Index (including Ether Compound and Solid State USDC) with a market value of almost $ 190 million.

Evolution of the Coop Index and product updates

On October 7, 2020, Setting Up the Code, a regulator, announced the creation of the Cooperative Index, the index of the cryptocurrency community, and announced the INDEX management token. . Set Protocol reveals that Index Coop's first management instrument was the DeFi Pulse Index (DPI), previously integrated by Set Protocol and the DeFi real-time data monitoring platform DeFi Pulse, with $ 2 million in funding. closed assets and 1,300 holders per person. also explains the modalities of the management of INDEX tokens: 70% of the tokens will be distributed to communities. initial distribution of INDEX for former holders of DPI, it also offers a first liquid drainage for the DPI / ETH Uniswap pools. INDEX holders can participate in important community decisions such as adding the index, allocating community funds, adjusting governance and other costs, and improving the index.

On March 23, 2021, Index Coop announced the publication of its products on the Flexible Leverage Index (FLI), the first product being the ETH 2x Leverage Index compound. To improve the efficiency and experience of the DeFi process, Index Coop has partnered with DeFi Pulse to develop simple Leverage Index (FLI) compliant products based on standards and equipment. The next asset is ETH with a comparison of 2. Users can purchase metrics from Uniswap and TokenSets.

Index Coop released the Metaverse Index (MVI) on April 9, an NFT analytics indicator that tracks large tokens and trades in the NFT and Virtual Metaverse marketplace. As of August 5, the value of MVI exceeded $ 10 million, and the top five of the top 18 cryptocurrencies are AXS, ILV, ENJ, MANA, and SAND, accounting for over 64% of the total.

On June 15, Index Coop approved the BED index application requested by Bankless. The BED index tracks the top three crypto investment portfolios, including Bitcoin 33.3%, Ethereum 33.3%, and DeFi (DPI) 33.3%, and bounces on the first Friday of each month. . The benchmark exchange rate is 0.25%, of which 0.125% without a bank and 0.125% in Index Coop.

On July 21, Index Coop announced that all products are based on Ethereum's second product, zkSync L2. DPI, MVI, ETH2x-FLI, and BTC2x-FLI were the first tokens to use the new name token.

Index Coop announced on August 21 a DPI / ETH mining wallet based on Uniswap V3, operations will last until September 4 and the price will be 2,000 INDEX tokens.

On September 24, Index Coop released the index data token DATA to track the performance of 7 tokens: LINK, RENFIL, GRT, BAT, LPT, OCEAN and NMR. Algorithmic trader Wintermute donated $ 1 million in income to the SushiSwap liquidity pool and over $ 100,000 of OTC funds to DATA tokens. Index Coop will also start investing in a mining platform on SushiSwap.