Index Coop
Index Coop is a Cayman Islands DAO building onchain DeFi structured products — leverage tokens, yield tokens, and Smart Loops — that automate lending-market-based strategies for crypto users seeking cheaper, hands-off leveraged ETH and BTC exposure.
- Company typePrivate
- Founded2022
- HeadquartersGrand Cayman, Cayman Islands
- Headcount1–10
- GTM typeB2C
- OfferingSoftware
What Index Coop does
Index Coop is a Cayman Islands-domiciled decentralized autonomous organization (DAO) that builds and maintains onchain structured DeFi products — primarily leveraged tokens, yield tokens, and a newer "Smart Loops" category — for crypto-native users seeking automated exposure to ETH, BTC, and liquid-staking yields. Its core technology is the Index Protocol, an EVM-based modular smart-contract architecture forked from Set Protocol v2, with composable modules (DebtIssuanceModuleV2, TradeModule, StreamingFeeModule, AirdropModule, Aave v3 Leverage Module, Auction Rebalance Module, Compound Leverage Module, Morpho integration) and adapters to external venues (Uniswap, Curve, 0x, Synthetix, Balancer, Aerodrome).
The company monetizes through a hybrid fee model: an annual streaming fee (typically 0.75%) paid continuously block-by-block, mint and redeem fees (e.g., 0.10%/0.10% on Smart Loops, 0.25% redeem on icETH), and pass-through borrow costs from onchain lending markets used to finance leverage. Distribution is fully self-serve via app.indexcoop.com and Uniswap secondary markets across Ethereum, Base, and Arbitrum, with marketing driven by content, Discord governance, and a 6,000+ subscriber newsletter. Strategic infrastructure partners include Morpho, Lido, Aave, Compound, Gauntlet, and Aerodrome, with risk-management oversight on newer yield products. Notable operational metrics cited are $16.1M total exposure, $250B+ cumulative rebalance volume, 1,014 days without liquidation, 10,000+ users, and 8+ audits from OpenZeppelin, ABDK, and Isosiro. The company is private, employs 1-10 people, and has raised approximately $9.95M across two 2021 seed rounds (led by 1kx and co-led by Blockchain.com, Sequoia, and White Star Capital); token distribution is restricted for U.S. Persons.
Index Coop firmographics
Firmographics- Name
- Index Coop
- Legal name
- Index Cooperative
- Website
- https://indexcoop.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Index Coop is a Cayman Islands DAO building onchain DeFi structured products — leverage tokens, yield tokens, and Smart Loops — that automate lending-market-based strategies for crypto users seeking cheaper, hands-off leveraged ETH and BTC exposure.
- Ownership category
- akta.pro rank
Index Coop industry classification
Industry- Product category
- Decentralized Finance (DeFi) Structured Products
- NAICS
- Open-End Investment Funds (525910), Other Financial Vehicles (525990)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- DeFi Asset Management & On-Chain Index Protocols (FSADAMAK)
- akta.pro secondary industries
- Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield) (FSAPAEAG), Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG)
Keywords
Where Index Coop is headquartered
LocationHeadquarters
- HQ city
- Grand Cayman
- HQ country
- Cayman Islands
Markets served
Index Coop business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Others
Revenue model
- Streaming Fees: Annual fees paid continuously block-by-block. Typical streaming fees range from 0.75% to higher percentages depending on product complexity.
- Mint and Redeem Fees: One-time fees charged when users mint new tokens or redeem existing tokens. Smart Loop products have 0.10% mint and redeem fees.
- Borrow Costs (passed through): Interest paid to borrow funds from onchain markets when using leverage products. These costs are passed through to users and represent compensation for capital deployed.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Streaming Fee - 0.75% annual |
| Hybrid | Pay-as-you-go | Smart Loop wstETH15x - 0.75% streaming, 0.10% mint, 0.10% redeem |
| Hybrid | Pay-as-you-go | icETH - 0.75% streaming, no mint, 0.25% redeem |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
Index Coop product offering
Product offeringCore offering
Index Coop creates and maintains onchain structured DeFi products, including leverage tokens, yield-bearing tokens (such as interest-compounding ETH), and Smart Loop strategies that automate complex DeFi actions like leveraged liquid staking. These products are issued as ERC-20 tokens and give crypto investors one-click exposure to automated, rebalanced strategies on Ethereum and Layer 2 networks.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Cost of carry reduced to 10.02% vs 63.34% for traditional perps on 3x BTC long
- +2 more outcomes
Companies that use Index Coop
Customer profileSegments2 records
Ideal customer profiles1 record
Index Coop technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
Feature6 records
Index Coop partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core.
- MorphocoreLending protocol used for Smart Loop strategies. wstETH15x deposits stETH to Morpho and borrows ETH against it as part of recursive looping strategy.
- LidocoreLiquid staking protocol providing stETH which serves as underlying collateral for icETH and wstETH15x Smart Loops.
- AavecoreLending protocol powering leverage tokens. icETH uses Aave v2 for collateralized debt positions. New products use Aave v3 Leverage Module.
- CompoundcoreLending protocol integrated through Compound Leverage Module for leverage trading functionality.
- 0x ProtocolcoreDEX aggregator API used for token swaps and flash mint capabilities in Index Protocol.
- UniswapcoreDecentralized exchange for token swaps. Uniswap v2 and v3 adapters enable trading through SetTokens.
- CurvecoreSpecialized exchange adapter for Curve stETH/ETH exchange contracts, enabling efficient swaps for stETH-based products.
- AerodromecoreBase network DEX used by wstETH15x Smart Loop for swaps during recursive looping strategy.
- GauntletcoreRisk management partner for High Yield ETH product, managing strategy risk parameters.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
Index Coop competitors and assessment
Company assessmentDirect peers
- Set Protocol: The original on-chain index protocol from which Index Coop's core architecture was forked. Both offer tokenized structured products with ERC-20 set tokens and modular manager infrastructure, making Set Protocol the most direct lineage peer.
- Yearn Finance: DeFi's flagship yield aggregator using automated vault strategies across lending markets (Aave, Compound). Like Index Coop, it packages complex leveraged/yield strategies into single ERC-20 tokens with continuous fee accrual — direct product overlap.
- Convex Finance: Yield-optimization layer over Curve with tokenized wrappers (cvxCRV) and automated compounding. Comparable to Index Coop's repricing-token model and fee-accrual mechanics; both target DeFi users seeking one-click optimized exposure.
- Beefy Finance: Multi-chain yield aggregator deploying auto-compounding vaults across 20+ chains, with a similar product-led, self-serve distribution model and modular strategy framework. Comparable on multi-chain vault product strategy.
- Pendle Finance: Tokenizes and trades future yield via PT/YT primitives, packaging yield exposure into tradable ERC-20 tokens. Strong overlap with Index Coop's Smart Loop and icETH yield-token products in mechanism and target user.
- Ribbon Finance: Structured products protocol offering automated options vaults (covered calls, puts) tokenized as ERC-20s. Direct comparison point for Index Coop's automated structured-product wrappers and target use cases.
Emerging players
- Sommelier Finance: Cosmos-based active strategy management protocol with tokenized vaults executing leveraged and yield strategies via Cellars. Comparable on automated strategy execution and modular strategy design, though Sommelier uses off-chain keepers rather than pure on-chain automation.
- Morpho: Lending optimizer protocol and core integration partner for Index Coop's Smart Loops on Base. Comparable on lending/yield infrastructure, with Morpho Blue increasingly competing for the same leveraged-yield user base.
Broad incumbents
- Lido: Largest liquid staking protocol and a core collateral provider for Index Coop's icETH and wstETH15x. While not a direct competitor on structured products, Lido is the underlying yield engine that Index Coop loops, making it a structural incumbent.
- Aave: Dominant on-chain lending protocol whose v2 and v3 markets power Index Coop's leverage engine. Comparable as a DeFi primitive but operates one layer below Index Coop's structured products and serves a much broader market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Index Coop social profiles
Digital presenceIndex Coop financial estimates
Financial estimateRevenue estimate
Valuation estimate
Index Coop leadership team
Management profileNumber of profiles
Index Coop funding detail
Funding detailFunding overview
Funding rounds2 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Index Coop M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Index Coop
What does Index Coop do?
Index Coop creates and maintains onchain structured DeFi products, including leverage tokens, yield-bearing tokens (such as interest-compounding ETH), and Smart Loop strategies that automate complex DeFi actions like leveraged liquid staking. These products are issued as ERC-20 tokens and give crypto investors one-click exposure to automated, rebalanced strategies on Ethereum and Layer 2 networks.
Is Index Coop a public or private company?
Index Coop is a private company. It is classified as venture growth investor backed and is currently operating.
When was Index Coop founded?
Index Coop was founded in 2022. It employs 1 to 10 people.
Where is Index Coop based?
Index Coop is headquartered in Grand Cayman, Cayman Islands.
How does Index Coop make money?
Three revenue lines are on record. Streaming Fees are the primary driver. The others are mint and Redeem Fees and borrow Costs (passed through).
Who are Index Coop's main competitors?
Direct peers on record are Set Protocol, Yearn Finance, Convex Finance, Beefy Finance, Pendle Finance and Ribbon Finance. Emerging players are Sommelier Finance and Morpho. Broad incumbents are Lido and Aave.
Does Index Coop have an API?
No public API is recorded for Index Coop.
What industry is Index Coop in?
Index Coop's product category is Decentralized Finance (DeFi) Structured Products. Its primary akta.pro industry code is FSADAMAK, DeFi Asset Management & On-Chain Index Protocols, with a secondary code of FSAPAEAG, Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield). Its NAICS code is 525910 and its SIC code is 6200.