Index Cooperative
Crypto Overview
Overview
Index Cooperative is a decentralized autonomous organization (DAO) that creates and maintains cryptocurrency index products. The INDEX token serves as the protocol's governance token, allowing holders to participate in decision-making regarding the creation and management of index products.
Purpose and Utility
The primary purpose of INDEX is to provide governance rights over the Index Cooperative protocol. Token holders can vote on proposals relating to the creation of new index products, protocol upgrades, and treasury management. The token also entitles holders to a share of protocol revenues generated from index product management fees.
Business Model Evaluation
The business model centers around creating and managing cryptocurrency index products, similar to traditional ETFs but in a decentralized manner. The protocol generates revenue through streaming fees on its index products. This model appears transparent and doesn't inherently involve prohibited activities like interest-based lending or gambling.
Real-World Adoption
Index Cooperative has launched several popular index products including the DeFi Pulse Index (DPI), Metaverse Index (MVI), and others. These products have attracted significant assets under management, demonstrating actual utility of the governance system.
Platform Development
The protocol maintains active development with regular updates to its index methodologies and platform functionality. The DAO structure appears to be functioning as intended, with regular governance proposals and community participation.
Token Distribution and Founder Alignment
The token distribution includes allocations to the community treasury, team members, and early contributors with vesting schedules in place. There are no apparent red flags regarding founder enrichment schemes, with transparent token economics and governance processes.
Crypto Impact
To assign a comfort level investing in Index Cooperative from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Index Cooperative.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.