Index Coop’s DeFi Pulse Index (DPI) and Metaverse Index (MVI) products are now available on the Polygon network which provides gas savings when compared with the Ethereum mainnet.
Here’s a brief overview of what you need to know to purchase DPI and MVI on Polygon.
What are the DPI and MVI products?
DPI is a capitalization-weighted index that tracks the performance of top decentralized financial assets across the market. $DPI’s AUM is $190.4m, at the time of writing. MVI is a basket of tokens, designed to capture the trend of entertainment, sports and business shifting to a virtual environment. $MVI’s AUM is $40.5m, at the time of writing.
How can you buy DPI and MVI on Polygon?
- Get your funds on the Polygon network
You can bridge your tokens from Ethereum to Polygon, or use an on-ramp provider to buy a token using your fiat money. Polygon’s web wallet usage guide also have more information about how to deposit and withdraw funds. Pro tip: Get $50 in free ETH when you make your first purchase of $DPI or $MVI above $500 by using the Dharma wallet.
- Make sure you have the $MATIC token
$MATIC is used to pay the transaction fee on the Polygon network (don’t worry, the fees are very nominal). You can do this by swapping certain tokens for $MATIC, or by using a faucet which gives you a small amount of $MATIC for free to get you started. - Swap your assets for $DPI / $MVI
You can use decentralized exchanges like Sushiswap, Quickswap, etc. to swap your existing tokens with $DPI or $MVI. At the time of writing, MVI-WETH pair on Sushiswap and DPI-WETH pair on Quickswap have sufficient liquidity for average-sized trades. Pro tip: Use an aggregator like Matcha or Zapper to get the best swap ratio, across various decentralized exchanges.
If you get stuck anywhere or have any questions, you can send a message on the #help channel of Index Coop’s Discord server.
The Index Coop team is actively working to roll out more products on the Polygon network, stay tuned for updates!
About Index Coop
Index Coop is a community-led, decentralized organization whose goal is to create, maintain and drive the adoption of the world’s best crypto index products. Its products are built on Set Protocol’s battle-tested V2 infrastructure and the product methodologies are sourced from industry experts. It is focused on enabling the creation and adoption of on-chain crypto index products for retail investors, institutions, and investment professionals.
About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.
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Disclaimer: This content is for informational purposes only, and should not be construed as legal, tax, investment, financial, or other advice.
