Index Coop, a decentralized autonomous organization (DAO) and leading provider of on-chain index tokens, today announces that its Interest Compounding ETH (icETH) token has been listed on Matrixport, one of the world’s largest and trusted digital assets financial services ecosystems. This collaboration expands the range of interest-earning digital assets available to Matrixport’s users and enhances the overall experience for users on both platforms.
By listing icETH, Matrixport incorporates an investment product into their Earn offering, delivering transparent yield from on-chain DeFi for their users. Index Coop’s icETH token provides amplified staking yield to its holders through an automated leveraged staking strategy, utilizing Lido and Aave’s money legos (5.07% APR over the first year, averaging more than 7.5% since the Merge).
Following Ethereum’s transition to proof of stake in September 2022, icETH’s returns have seen a substantial increase, with monthly average yields ranging between 6% and 10% APR. Execution layer rewards are now directed to stakers rather than miners, leading to higher staking yields during periods of increased Ethereum network activity. In some cases, icETH has seen 24-hour yields up to 25%.
Cynthia Wu, COO of Matrixport said, “Onboarding Index Coop on the Matrixport platform underscores our ongoing commitment towards providing seamless and transparent access to innovative DeFi products and solutions. With icETH’s integration, our clients will be able to participate in an automated ETH leveraged staking strategy without leaving our secure platform.”
For Index Coop, the partnership with Matrixport represents a valuable opportunity to engage with more DeFi users across Asia.
Jordan Tonani, Head of Institutions at Index Coop, said, “Collaborating with a reputable platform like Matrixport enables us to expand our reach and bring added value to users. The integration, of icETH not only allows Matrixport users to access amplified staking yields, but also fosters growth and innovation for both Index Coop and Matrixport.”
About Index Coop
The Index Coop is a decentralized autonomous organization (DAO) and the largest provider of on-chain structured decentralized finance (DeFi) products. Our diversified and automated products provide exposure to the most productive and sustainable strategies in DeFi. We currently offer a sector, leverage and yield-generating products via ERC20 tokens that are accessible, secure and simple to use.
Matrixport is one of the world’s largest and most trusted digital assets ecosystem providing one-stop crypto financial services to meet the emerging needs of generating long term wealth in digital assets. It forges strategic collaborations with early stage Web3 innovators, helping them build, grow and scale and the company’s services include Cactus Custody™, spot OTC, fixed income, investment products, lending as well as asset management.
With USD4B in actively managed digital assets, Matrixport achieved pre-money unicorn valuation in 2021 and was named by CB Insights as the 50 most promising blockchain companies in the world in 2022. Its digital prime brokerage business, Matrixport Institutional, serves over 800 institutions across the US, Europe and Asia, offering best-in-class access, leverage, capital Introduction and custody services. Headquartered in Singapore, the company holds a Hong Kong Trust Company License and a Swiss FINMA SRO-VQF Membership.