“Amun” the first ever polygon ecosystem index token. The protocol’s simplicity of use and lower fees have enticed developers, resulting in a slew of new projects being launched on the platform.
Meanwhile, Amun Tokens is churning out DeFi index tokens at a breakneck pace. The platform announced the introduction of two index tokens in the Ethereum ecosystem, $DFI and $DMX, in June. Given Polygon’s recent rise in popularity in DeFi, it was only a matter of time before the Amun team released their own Polygon-based token.
That time has come, as Amun announced today the pre-sale of PECO, their newest coin. This coin appears to represent the greatest and brightest ideas currently being developed on Polygon.
Amun, PECO, & The Polygon Ecosystem
Amun, in partnership with the Polygon Foundation and leading Polygon projects, published a Medium article today unveiling PECO. According to the Medium post; the Foundation is contributing $5 million in MATIC tokens to seed the index’s launch; and many notable projects are providing seed funds for liquidity.
The coin will go live on October 19th with a 50% MATIC initial supply till the network grows further. The remaining 50% is made up of protocol tokens; see below for the initial PECO compensation at launch:
The PECO portfolio will be rebalanced regularly as the Polygon network expands and improves. PECO will be available on both Polygon and Ethereum; with early adopters receiving up to 30% bonus tokens through airdrop during the pre-sale.
Amun & DeFi Growth
Amun launched the DeFi index token $DFI earlier this year; with the goal of providing investors with exposure to; “blue chip DeFi companies.” This allowed customers to come to one token for a broad exposure to DeFi’s most popular coins without having to pay for individual swaps. Amun also released the $DMX DeFi Momentum Index, which aims to automate weights depending on price momentum measured using a relative strength index. This index aimed to find momentum riders who “didn’t get in on the last bull run.” Both indices were originally made up of eight tokens each.
Amun is accumulating a large amount of DeFi exposure at what appears to be a good time. DeFi’s growth and mostly untapped potential were highlighted in a recent Bank of America analysis; and Polygon and its succeeding platforms have been huge growth drivers in DeFi.
Source: NEWSBTC
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