INDEX is an Ethereum token that governs Index Cooperative, a protocol for creating custom crypto indexes and structured products. INDEX can be used to vote on the future of the protocol and can be earned by providing liquidity to Index Cooperative products. Note: Coinbase only supports INDEX on the Ethereum blockchain (ERC-20).
What Is Index Cooperative (INDEX)?
The Index Coop (INDEX) is an Asset Management and Decentralized Network project that aims to provide crypto index products. As stated on the website, these products are fully collateralized and built on the V2 infrastructure of Set Protocol. V2 infrastructure protocol supports the platform’s methods for developing and rebalancing index products. In simpler words, Index Coop aims to build simple and powerful index products to help every user access crypto trading themes.
Index Coop aims to build future-proof tools that support the users to navigate through a new set of opportunities. Users can comfortably trade in index tokens for a long period of time without having to worry about research and rebalancing. Anybody across the globe can access these products irrespective of wealth, region, gender, or any other attribute.
Index Cooperative flagship product, the DeFi Pulse Index (DPI), is an index of DeFi governance tokens. The DeFi Pulse Index is a digital asset index that tracks the performance of tokens in the Decentralized Finance space. The DeFi Pulse Index is designed to keep track of Decentralized Finance initiatives that have a high level of usage and demonstrate a commitment to continuous maintenance and development.
INDEX is the governance token of the platform and is used to vote on proposals at the Index Coop. These proposals can cover a wide range of topics, including which products to introduce and which working groups to support. The token is also utilized to reward partners and contributors. Moreover, INDEX is an ERC-20 token deployed on the Ethereum blockchain. The token’s maximum supply is capped at 10,000,000 tokens. 70% of tokens were initially reserved for the community while 30% were dedicated to the Set Protocol and DeFi Pulse teams.
In addition, Index Coop seeks to provide an incentive program that rewards participants in the community. The INDEX token is an essential part of the Index Cooperative and is used as the currency by users of the Index Coop. Members are responsible for adding indices, controlling the treasury, and voting on key system parameters.
