The Polygon Ecosystem Index PECO token is a token that gives users exposure to entire Polygon ecosystem

457
2
The Polygon Ecosystem Index PECO token is a token that gives users exposure to entire Polygon ecosystem

Amun, a leader in DeFi index products, announced this week the launch of the Polygon Ecosystem Index PECO token, as per a release shared with CryptoSlate.

Available through the Amun Platform, the PECO token is an index of the top projects built on Polygon, an Ethereum scaling platform onboarding millions to Web 3 giving users targeted exposure to the entire Polygon ecosystem, rather than just projects that live on both chains.

The product was created collaboratively by Amun, Polygon Foundation and leading Polygon projects. PECO is Polygon s first ecosystem index token.

Inside the bet on the Polygon ecosystem ecosystem is placed.

PECO s initial composition is made up of 50% MATIC, with the remaining 50% comprising Quickswap, DFYN, Adamant Finance, Aavegotchi and Qi Dao. This composition provides an alternative to holding MATIC, instead of providing a token that grows with the entire Polygon ecosystem.

PECO is rebalanced on a monthly basis to lock in gains and ensure constituent tokens are allocated accordingly by the rank of market capitalization and liquidity. The portion of MATIC in PECO is expected to be lowered over time to make room for other promising projects. PECO is free of management fees until 2023.

And to broaden investor access to the PECO ecosystem, Polygon is available on both Polygon and Ethereum. Amun s integration with the Polygon Bridge makes the process seamless to the user.

Given the growth of blockchain ecosystems beyond Ethereum, we believe index tokens that give users exposure to the top projects in an individual ecosystem are vital to onboarding users to these new platforms, explained James Wang, Head of Tokens at Amun.

Sandeep Nailwal, the co-founder of Polygon, added, Recently surpassing Ethereum in daily active addresses, Polygon's DeFi ecosystem has over $4 billion in total value locked. Launching PECO takes Polygon to the next stage of growth.

With developers and NFT projects all over the world flocking to Polygon, we re seeing constant growth in the number of innovative projects that are achieving incredible success. With PECO, investors can get in early as developers work to shape the next phase of DeFi and Web 3. Polygon is currently home to the highest number of Dapps, more than 500, outside of Ethereum including Sushiswap, Curve, Aave, Balancer, and Kyber.