Etherеum

Index Coop Starts Pre-Sale of High Yield ETH Index to Incentivize Depositors

Index Coop, a decentralized platform that develops easy-to-use tokens, has recently announced the launch of the High Yield ETH Index. The platform took to its official X account to disclose that the company has posted the pre-sale for hyETH on its forum. It brought to the front that the firm intends to provide benefits to the initial pre-sale depositors. For this, it will utilize PRTs and will offer a revenue share to the depositors.

A High Yield ETH Index is coming 📢

Launch the High Yield ETH Index (hyETH) Pre-sale has been posted on our forum🗳️

hyETH will be the first to use PRTs to incentivize early pre-sale depositors with a revenue sharehttps://t.co/f6GTjaGF1I pic.twitter.com/QPpbFfcMvL

— Index Coop 🦉 (@indexcoop) March 29, 2024

Index Coop Launches Pre-Sale for High Yield ETH Index for Depositors

The hyETH reportedly aims at the yield opportunities concerning at a nearly 4.00% increased rate in comparison with the staking rate. The company disclosed that the purpose of the project is to track the biggest ETH-related high-yield opportunities on Ethereum. It focuses on the opportunities that meet the least TVL and APY criteria that DeFi Llama’s statistics verify.

The index takes into account the eligible strategies correspondingly as well as rebalances every month. In this way, it incorporates the most pertinent strategies. Index Coop also revealed the attributes that the respective strategies should contain. One of them says that the DeFi Llama Yield Rankings listed strategies will be eligible. Additionally, they should be accessible on Ethereum.

The minimum TVL for the eligible strategies is up to 5,000 ETH tokens. Apart from that, they require a monthly APY of almost 400 bp greater than the dsETH’s backward-looking APR. The strategies need to have no locking mechanisms. The minimum maturation period for fixed-term strategies must be 3 months after the rebalance date.

The Platform Imposes No Penalty on Pre-Launch Withdrawal

The company emphasized that hyETH offers significantly higher Annual Percentage Yield (APY) along with improved diversification in comparison to its current competitors. The pre-sale is scheduled to commence on the 10th of the upcoming month and will run until May 10th. Notably, each of the pre-sale, pre-launch, and post-launch phases spans a duration of 30 days. It’s important to note that there are no penalties for withdrawing funds during the pre-launch phase. The company’s announcement underscores its commitment to providing investors with a lucrative opportunity for high-yield returns and diversified investment options in the cryptocurrency market.

Source

Click to rate this post!
[Total: 0 Average: 0]
Show More

Leave a Reply

Your email address will not be published. Required fields are marked *