June 8, 2023
Polygon News

Amun’s PECO Index is Live to Boost Polygon Projects

PECO: A single token offering simplified and affordable exposure to leading Polygon projects.

Amun’s Polygon Ecosystem Index (PECO) token is now live on the Amun platform. The PECO token hosts the top Polygon-built projects’ index. Polygon’s first ecosystem index token, the PECO token is a joint courtesy of Amun, Polygon Foundation, and top Polygon projects.

By getting a monthly rebalancing, gains are booked in PECO tokens. This is done whilst ensuring the constituent tokens get respectively allocated per their market capitalization (MCAP) and liquidity ranks. As time passes, the MATIC tokens in PECO get reduced to facilitate other projects’ development. Up until 2023, the PECO token won’t attract any management fees.

Minting and burning the PECO token can be done simply via one click on the Amun Platform. The PECO token can also be availed via SushiSwap, etc. Investor access to the Polygon ecosystem is mindfully considered; so, the PECO token can be accessed via Polygon and also Ethereum. Simply via one click, even on Ethereum, PECO tokens can be bought, minted, or burned via Amun’s Polygon Bridge integration.

James Wang, Head of Tokens, Amun, stated:

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. We are the first company to launch crypto index products on multiple blockchains. Polygon is our first ecosystem token because of its early success in providing Ethereum users with a viable cross-chain bridging solution to achieve higher throughput, faster transactions, and lower fees.

Sandeep Nailwal, co-founder, Polygon, states:

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. While Polygon was initially developed as a side-chain to enable computation off the Ethereum mainnet, it has evolved to become the most popular interoperability and scaling platform for building Ethereum-compatible blockchains. With developers and NFT projects around 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 Web3.

Polygon Foundation’s US$5 million MATIC investment laid the foundation for the launch of PECO tokens, along with Qi DAO, Adamant Finance, and DFYN.