Difference between revisions of "Indexed Finance (NDX)"

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Revision as of 08:54, 23 January 2022

Basics

"A new index pool protocol designed to replicate the performance of mainstream index funds."

Audits & Exploits

Bugs/Exploits

"Today Indexed suffered its first hack since its deployment in December, and it was a pretty devastating one. About $16m worth of assets were stolen from the indices DEFI5 and CC10 by 0xba5ed1488be60ba2facc6b66c6d6f0befba22ebe."

"The Indexed Finance community has carried out an impressive investigation, and it seems “ZetaZeroes” should now be feeling quite concerned."

Governance

Admin Keys

  • From their docs (6-2021):

"In order to ensure the security of the project while distribution is underway, the team will retain the ability to create and vote on governance proposals while our tokens are vesting. This will ensure that we are able to respond if security incidents occur prior to the completion of the initial distribution, but all successful proposals will still be subject to the two day time lock. Additionally, the voting period on the governor contract is temporarily set to a value which corresponds to about 12 hours in blocks; after January 7, 2021, anyone can call a function on the governor to set the voting period to its permanent value, which is closer to 3 days."

"Their governance community votes on the specific weighting with their underlying NDX token."

DAO

Treasury

History

Token

Launch

Token Allocation

  • From their docs (6-2021):

"The initial supply of 10,000,000 NDX will be distributed as follows:

  1. 30% will be made available to the NDX treasury over the course of 9 months, beginning March 1, 2021.
  2. 25% will be distributed through liquidity mining to users who stake CC10/DEFI5 index tokens or their Uniswap Ether pair LP tokens (ending March 8th 2021).
  3. 20% will go to the founders, investors and future team members, subject to vesting periods.
  4. 14% will be distributed via the treasury in a manner to be determined by governance.
  5. 6% will be distributed through liquidity mining to users who stake index tokens or Uniswap Ether pair LP tokens as part of the Sigma program.
  6. 5% will be used to reward keepers who update the Uniswap oracle and trigger periodic updates on the pool controller.

After June 1, 2021 the ability to mint new NDX tokens will be available to the governance organization."

Utility

Other Details

Stablecoin

Coin Distribution

Technology

How it works

"Unlike traditional index funds, these indices are not static portfolios which simply hold assets until quarterly rebalance days. Index pools are multi-asset AMMs that track particular market sectors, represented as lists of tokens managed by NDX governance. As AMMs, they can generate revenue beyond the growth of their underlying assets, and they can rebalance through swaps which generate fees rather than through large orders on external markets."

Fees

Upgrades

Staking

Liquidity Mining

Scaling

Interoperability

Different Implementations

Other Details

Oracle Method

Privacy Method

Compliance

Their Projects

"Whatever your angle on the emerging DeFi economy, Indexed Finance has either already launched or is planning on launching a creative ETF-like product for you. Their most popular offering is their DEFI Top 5 Index, which contains a balance of UNI, AAVE, COMP, SNX, and CRV and holds a market cap north of $17MM.

More recently, they capitalized on the NFT hype to launch the NFTP index of platform tokens, to offer users exposure to tokens like $ENJ and $MANA that are likely to rise or fall with popular interest in NFTs.

They also created a special product inspired by a suggestion from the Twitter account representing whale address 0xb1…484, a person or persons who actively manage over 6000 ETH. In response they created a special 484 $ERROR token to track the address’s major holdings, currently mostly weighted towards $SUSHI, $BDP, and $ALPHA. Funny enough, this may create recursive effects as 0xb1…484 started investing money directly into their self-same portfolio."

Roadmap

  • Can be found [Insert link here].

"Their goal for Q2 is to capture $100MM in TVL, with plans to accomplish this by upgrading their protocol, launch Uniswap v3 position managers, and earn interest on their NDX tokens."

Usage

"Has already released a fun offering of diverse, cost-efficient ETF products which have attracted upwards of $70MM."

Projects that use or built on it

Competition

Pros and Cons

Pros

Cons

Team, Funding, Partners

Team

Funding

Partners

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