DeFi is About to Get More Tokenized Indexes

Set Protocol is doubling down on the success of the DeFi Pulse index by launching a new project – the Index Coop – focused on creating accessible crypto indexes.

Tokensets, a platform for users to purchase sophisticated trading strategies in the form of ERC20 tokens called Sets, recently deployed the DeFi Pulse Index (DPI), a basket of top DeFi assets. The token’s market cap has grown to $2.5M since its September 14th launch, making it the top Social Trading Set on the platform.

Now, Set Protocol will continue its relationship with DeFi Pulse to incubate the Index Coop, “a global cooperative to launch and maintain the worlds best crypto index vehicles,” according to a Medium post.

INDEX Token

The project features a native governance token, INDEX, 1% of which was retroactively airdropped to DPI holders. INDEX governance will include adding new indexes, managing a community treasury, updating fee configurations and enhancing indice performance, according to the post.

As new indexes are gradually rolled out, the Index Coop will funnel the 70% community allocation of INDEX through a DPI liquidity mining campaign which started today for DPI/ETH liquidity. Here’s a look at the full breakdown of the token supply.

DeFi+L

Set Protocol’s Index Coop comes just as PieDAO launches its own DeFi token basket, DeFi+L. The index includes the seven largest DeFi tokens, COMP, AAVE, UNI, LINK, MKR, SNX and YFI, which are weighed by market cap. The protocol automatically rebalances as prices fluctuate and there’s a maximum cap of 25% per token.

Despite both being slightly different in nature, we’re now seeing a strong push towards accessible indexes as a means of giving new users more passive access to different sectors in one easy to purchase asset.