Index Cooperative, the decentralized autonomous group (DAO) behind tokens just like the DeFi Pulse Index, has partnered with one other DAO, Bankless, to launch a brand new crypto token referred to as the BED index.
First proposed in February, the BED index comprises a fair cut up of bitcoin, ether and decentralized finance (DeFi), which might be represented by Index Coop’s DeFi Pulse Index (DPI).
In accordance with Index Coop, BED and different crypto indexes supply a simple method for crypto newcomers to get diversified publicity to numerous property in a method that’s easy and clear.
As decentralization turns into an even bigger theme in crypto, DAOs are gaining momentum. They’re collections of individuals and entities on the web who band collectively to run a leaderless group. They’re basically firms for a decentralized world.
And within the case of the BED index, what they’re providing is a conventional finance product – an index – for the nontraditional crypto markets.
Bankless DAO devised the methodology for the BED index, and might be accountable for month-to-month rebalancing as wanted.
The BED index might be represented by a completely collateralized ERC-20 token and might be out there for buy on Uniswap v3, Index Coop and TokenSets.