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Finance

Index Coop Introduces Index for Diversified Liquid Ethereum Staking

The product includes Lido's etETH, Rocket Pool's rETH and StakeWise's sETH2

By Jamie Crawley
AccessTimeIconJan 25, 2023 at 10:46 a.m. UTC
Updated May 9, 2023 at 4:06 a.m. UTC
(Unsplash)
(Unsplash)

Decentralized autonomous organization Index Coop has released an index that offers users diversified liquid-staking assets on the Ethereum network.

The Diversified Stakes ETH Index (dsETH) is designed to make it easier for users to distribute their stake across a range of platforms to earn an aggregated return and mitigate the risk of volatility, Index announced Tuesday.

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    • At inception, the product includes Lido's etETH, Rocket Pool's rETH and StakeWise's sETH2.

    Interest in liquid-staking protocols such as these has been on the rise so far this year ahead of Ethereum's Shanghai upgrade, which is set to take place in March. The upgrade will allow ETH stakers to withdraw their tokens, which are locked on the network, thereby attracting more users looking to stake their assets.

    The aim of dsETH is to provide users with a way of earning yield on the most prominent staking services without being completely exposed to one particular protocol.

    Read more: Lido’s Total Value Locked Spiked 33% In Past Month, Becoming Largest DeFi Protocol by TVL, Says DeFiLlama

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter