PINT to Tokenize Exposure to the Top Polkadot Initiatives
As the launch date of Parachutes approaches, there is a new initiative to create a decentralised funding index token (Defi) to track Polkadot projects and help investors diversify their holdings with one tool.
Six projects commit to join the Polkadot Index Network Token
The growing interest in Polkadot and its new parashas has caused the blockchain-native token to become a source of wild speculation in recent months, ranking in the top 10 cryptocurrencies in terms of market capitalization.
As the launch of several projects in the Parasha approaches, two organizations are taking steps to increase access to opportunities in the ecosystem through the Polkadot Index Network (PINT) token.
Chainsafe, a protocol and infrastructure company, has partnered with Stateless Money, a quote service provider, to launch this new index fund and associated symbol.
The PINT token is managed by a seven-member panel of experts, the PINT Council, and a foundation committee consisting of members from each of the projects included in the index. These two groups will oversee the composition of the index and perform certain functions, such as. B. the determination of the composition of the index.
Plans are already lining up to join this new initiative, both in the index and on the founding committee. To date, PINT has received soft pledges from major ecosystem projects such as Acala, Equilibrium, Hydradx, Litentry, Moonbeam and Plasm, which further increases the appeal of the index token.
New standard in Defi
From its inception to date, this new index represents a very unique company in the blockchain ecosystem. Staker DAO, the chain’s management protocol, has submitted its proposed Polkadot Network Index token for a vote by its community. Although Polkadot is part of the Polkadot ecosystem, it was voted into the Ethereum and Tezos blocks, which run competing ecosystems.
After the Staker DAO first called for a feasibility study on the Secure Circuit Index and stateless money in late 2020, the Staker DAO board proposal was submitted in March and accepted by the public in early April.
With this approval, it was determined that Chainsafe would be responsible for the development of the tokensubstrate pallets over the next three months. At the same time, Stateless Money will take the lead in coordinating the project.
For participants in the Polkadot ecosystem and external investors, this new initiative promises significant benefits. In terms of investor benefits, the idea of having broad and diverse exposure to Polkadot’s top projects without having to look at each one individually is very appealing.
On the other hand, Polkadot projects can take advantage of PINT by allocating a certain portion of their respective parachute tokens. This makes Parashayers eligible for support from the PINT Fund, which can help fund expensive Parashay rental projects. This service can also help Parashas manage the volatility of native tokens.
Do you see yourself using PINT as an investment tool? Let us know your comments in the section below.
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