Add $INDEX as a collateral asset to CREAM market

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Summary

$INDEX is the governance token of the Index Cooperative, a protocol that curates crypto indices targeted at institutions and professionals who are non-crypto natives. The Index Cooperative’s flagship product is the $DPI has over $100 million in AUM which makes it the leading DeFi index.

The Index Coop is led by a strong team of Set Protocol, DeFi Pulse and an active community.

Motivation

Currently, there are not many opportunities for $INDEX holders to utilized the $INDEX token to accrue additional value. The only option for $INDEX holders is to LP on SushiSwap which may not be attractive to most holders. Cream would benefit from accepting $INDEX since it would be the first place to accept $INDEX as collateral and it would attract long-term $INDEX holders. $INDEX hodlers will be more than happy to unlock some of the liquidity of their tokens which would lead to additional revenues for CREAM.

Also, CREAM was the first place to accept $DPI as collateral. Accepting $INDEX would be a great way to continue to develop ties between both projects.

Why HODL $INDEX?

As Lemonade Alpha so eloquently puts it -

“$INDEX as a long-dated call option on Defi: $DPI is only growing as a percentage of the tokens inside it. As $DPI makes ground as a percentage of its components, fees attributable to INDEX multiply.”

Additionally, the CoinSharesCo Gold & Cryptoasset Index (CGI) and Defipulse/Pulse, Inc.'s Flexible Leverage Index (FLI) will be launching shortly and will continue to grow the Index Coop’s AUM.

Specification

$INDEX market cap is $26 Million with 2,500 holders

There is over $2.5 million worth of liquidity for the $INDEX token -

$1.5 Million on SushiSwap - https://sushiswap.fi/pair/0xa73df646512c82550c2b3c0324c4eedee53b400c

$1 Million on UniSwap - https://info.uniswap.org/pair/0x3452a7f30a712e415a0674c0341d44ee9d9786f9

Token Address - 0x0954906da0bf32d5479e25f46056d22f08464cab

For

Accept $INDEX as collateral

Against

Do nothing

3 Likes

As a holder of $INDEX, I would love to see this proposal come through.

1 Like

nice! thanks for chiming in

We already listed DPI which is controlled by the Index DAO so we should add their native governance token as well.

Idk how much demand there is for borrowing at the moment but using it as collateral would be great. Once INDEX staking is launched I’m sure there will be a lot of demand though

2 Likes

Thanks for the support ser!

Yes, please! Add it as collateral!

1 Like