Amun Launches PECO Index Token Providing Exposure to Top Polygon Projects
Amun, a leader in DeFi index products, has announced the launch of the Polygon Ecosystem Index (PECO) token. Available through the Amun Platform, the PECO token is an index of the top projects being built on Polygon, an Ethereum scaling platform onboarding millions to Web3 – giving users targeted exposure to the entire Polygon ecosystem, rather than just projects that live on both chains.
Created collaboratively by Amun, Polygon Foundation, and leading Polygon projects, PECO is Polygon’s first ecosystem index token.
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 only 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.
The token can be minted and burned at any time with one click on the Amun Platform and is also available through other major exchanges such as SushiSwap. To broaden investor access to the Polygon ecosystem, PECO is available on both Polygon and Ethereum. Ethereum users can buy, mint, or burn PECO tokens with a single click. Amun’s integration with the Polygon Bridge makes the process seamless to the user.
About Amun
Amun Limited is a technology company that simplifies access to crypto. Amun’s tokens are smart contracts that are easy to use and professionally built. All smart contracts are open-source for the benefit of the crypto community. The Amun team consists of an experienced mix of engineers, product managers, and marketers with the sole mission to bring innovative and useful instruments to the crypto market. Amun’s sister company, 21Shares AG, is the Swiss-based issuer of fully-collateralized, passive investment ETPs (trackers) of crypto assets. For more information, please visit https://amun.com/
