The[ Index Coop](https://indexcoop.com/about-us#learn-more) was launched as a decentralized autonomous organization (DAO) by Set Labs on the 6th of October 2020. They evolved throughout the years into a large community of product holders, INDEX investors and supporters.

We are walking about cutting edge of decentralized finance, leveraging the decentralized network for contributors, and simple, accessible and secure on-chain structured DeFi products. 

Index Coop always been an innovator in the crypto space, from DPI to Metaverse indices! The DeFi Pulse Index is the flagship, a capitalization-weighted index that tracks the performance of some of the largest protocols in the decentralized finance space. 


![image.png](https://images.hive.blog/DQmXxHs8LpYmh3w8kLhUUP1W4ZLSt7wUWTa84qdS5ZY5Qjv/image.png)


The Index Coop is delighted to unveil a new, innovative incentive: Product Revenue Tokens (PRTs). PRTs offer depositors an opportunity to share in the product revenue and are part of our [redesigned product development process](https://gov.indexcoop.com/t/revamping-the-product-development-process/4715). The first token to go through the new product launch process will be the High Yield ETH Index token (hyETH).

The pre-sale process enables customers and early adopters to demonstrate tangible demand for a proposed product by depositing funds into the token before launch. Users who deposit wstETH during the pre-launch will be eligible to receive PRTs that receive a share of revenue from the hyETH product.

PRTs represents a sophisticated new way of sharing the revenue from Index Coop products, and will entitle holders to a share of the current and revenue from the High Yield ETH Index. 


![image.png](https://images.hive.blog/DQmTFvSCXaMPwzZdLCbvKJHJGu7j6piydupSVtyEpQjiMPm/image.png)


The Index Coop High Yield ETH Index (hyETH) is designed to track the performance of the largest high-yield opportunities for ETH on Ethereum mainnet that meet minimum APY and TVL criteria. The index weights all eligible strategies equally and rebalances monthly to include the most relevant strategies.

There are five strategies that compose the hyETH index, with the average APY at 31%. I am thrilled to see the Across wETH strategy included as the only cross-chain liquidity in the pool, and the two massive TVL strategies from Pendle. Each of the five was a 20% weight, subject to the monthly rebalances.

- Pendle eETH PT (40% APY and $300 M TVL)
- Pendle rsETH PT (37.32% APY and $154 M TVL)
- Instadapp ETH V2 (8.41% APY and $97 M TVL)
- Pendle rswETH PT (57.85 % APY and $55 M TVL)
- Across wETH (12.51% APY and $53 M TVL)

Historically, product revenue has been sent to the Index Coop Treasury, but PRTs will change the classic dynamics. The product fees will now be distributed to a staking contract where PRT holders can claim a share of revenue.

The PRT holders must stake their PRTs to receive revenue. They will not only receive an effective fee rebate on their hyETH, but they also receive upside in the product’s success. PRTs are claims on future fees generated by hyETH, add is still early to forecast their value.

PRTs encourage early deposits into new products by rewarding holders with product revenue, and they also create an incentive for PRT holders to help grow and distribute the product once the product is formally launched.

PRTs will be made available once hyETH has been formally launched and live for 30 days. To remain eligible for PRT rewards, presale participants must maintain their position throughout the 30 day presale, the 30 day pre-launch period, and the 30 day post-launch period.


![image.png](https://images.hive.blog/DQmYyoKC9oZaLt89Uk78qjCRARif633rnLWVZEwZGDvQzfE/image.png)


Let's cover the financial aspects, and PTRs details! Eligible persons may participate in presales by visiting the Index Coop app and depositing to available pre-launch products.

The presale deposits must be made in wstETH to qualify for PRTs, and early withdrawals are enabled but will result in forfeiture of accumulated rewards. All the PRTs received in exchange for presale participation will be freely tradeable.

If a presale meets or exceeds this threshold in the allotted time, Index Coop will launch the Product. If it does not meet the agreed-upon threshold, the product will not be launched, and depositors may withdraw their funds. 

Every 24 hours, a snapshot captures the balance of hyETH held per address. A fixed number of PRTs will be assigned to each address in proportion to their balance of hyETH. If you withdraw from hyETH for any reason before the post-launch period is complete, you will not earn any PRTs on withdrawn capital. If a presale is unsuccessful, no PRTs will be distributed as the product will not be launched.

![ "d44cf74d1433b7ddb36a34b979a70b2a0ced4fc8d26419893e1a647b8665967d.jpg"](https://cdn.publish0x.com/prod/fs/cachedimages/1220401932-d44cf74d1433b7ddb36a34b979a70b2a0ced4fc8d26419893e1a647b8665967d.webp)

I love Index Coop and their products since 2021, and constantly voting on snapshots. I wile to think I am part of something bigger, helping the crypto space evolve through decentralized governance.

I can label myself as an Index Coop OG, with a decent bag of $INDEX and history with the project. I've been quite active between February 2021 and the same month of 2023, when my journey moved into interoperability and cross-chain exploration. My Coop hoodie is still one the best swag items I have, and a memorabilia of the good old days.


![image.png](https://images.hive.blog/DQmdyzcyMVdxdXfAkj9YGVA4YoexAkDz6oLakREAVcweh6W/image.png)


Another priceless Index-related item is my Ophelia NFT! Index Coop adopted an Great Horned Owl, and created hoot-est NFT. The next one will be considerable amount of High Yield ETH Index token (hyETH)! 

Ophelia was raised by a human instead of her fellow owls, meaning she has a low survival chance in the wild. The Southeastern Raptor Center provided a physical Certificate of Adoption for Ophelia, that the Coop have digitized and minted as an NFT. Given the Ethereum’s transition from proof-of-work to proof-of-stake via The Merge, this was the first environmentally-friendly NFT.


![image.png](https://images.hive.blog/DQmQr3xVYj3UYWsiBC7dzYPSKhaq6AnEynb9C4MuiqPyQpS/image.png)