Index Cooperative, the decentralized autonomous organization (DAO) behind tokens like the DeFi Pulse Index, has teamed up with Bankless to launch the BED index, a new crypto token.
The BED index, which was first proposed in February, has an even split of bitcoin, ether, and decentralized finance (DeFi), which will be represented by Index Coop’s DeFi Pulse Index (DPI).
BED and other crypto indexes, according to Index Coop, provide a simple and transparent approach for crypto newbies to have diversified exposure to diverse assets.
DAOs are gaining traction as decentralization becomes a greater trend in crypto. They are groups of people and entities on the internet who come together to operate an organization without a leader. They are, in essence, businesses for a decentralized world.
The BED index, for example, is a standard finance product — an index – for the non-traditional crypto markets.
The BED index’s methodology was established by Bankless DAO, and it will be responsible for monthly rebalancing as needed.
The BED index will be represented by an ERC-20 token that is fully collateralized and available for purchase on Uniswap v3, Index Coop, and TokenSets.