Whitelist Degen Index (DEGEN) (Crypto Index)

As the name implies, the DEGEN Index aims to seek out alpha via higher risk/reward emerging projects with exceptionally high growth potential, predominantly in the DeFi sector. Candidate members have strong communities and large total addressable markets, with circulating market capitalisations ranging from US$50 million to US$2 billion. If any constituent tokens fall out of these bounds, they will be replaced via periodic re-indexing by the largest market cap tokens drawn from a list of alternatives. In this way, the index will constantly evolve to capture upside from tokens during their most rapid growth phases.

Coins/Tokens in the index include:

  • Mirror (MIR)
  • THORChain (RUNE)
  • Republic (REN)
  • Reserve Rights (RSR)
  • Curve (CRV)
  • 1INCH (1INCH)
  • Ocean (OCEAN)
  • AlphatToken (ALPHA)
  • Badger (BADGER)
  • Polkastarter (POLS)

More information:
https://indexed.finance/index/degen
https://indexed.finance/category/sigma-v10x1

What current feature of Mirror would allow for rebalancing?

Mirror only needs an oracle link to its price and we’re good :+1:.
However, I’m not even sure if it’s possible to link to its price since it’s not in any centralized exchange.

My mistake, I didn’t follow the links and thought you were proposing a “new” index. I should have known where you were coming from because I was familiar with indexed. I’ve basically stopped using the Ethereum network but used to hold DeFi Pulse Index DPI and was interested in the TokenSets protocol.

There will be a Terra-Mirror product release that will allow for dynamic rebalancing “ETFs”. In this case I think it will be possible to bundle and create, for instance, a clone of the existing DEGEN index.

If you wanted to pursue this further it would require somebody discussing with Band protocol and perhaps Indexed.Finance would need to open up an access point.

I want to see “funds”/“sets” on Terra-Mirror. I don’t mean for instance, SPAR protocol where there are managed funds but autonomous funds that don’t have a management expense. Dynamic rebalancing is great.

Let me know if you plan to keep digging on the feasibility here I would follow along. Personally the allocation in DEGEN is not what I would choose if I could build my own. I’ll try and dig into seeing if there is a timeline regarding the dynamic rebalancing funds project and how users can roll their own.

too risky: illiquid and on just on uniswap. A flash loan with aave could be used to ‘attack’ the minters.

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I think indexed needs to add some massets , but agree with the post above not enough liquidity . And there would only be two sources to get pricing information from uniswap or indexed, and both would be susceptible to flash loan, or whale manipulation. Mirror doesnt need that kind of risk. Let’s revisit when you can buy DEGEN on coinbase.

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I think the other consideration is that Nebula or Spar will likely allow the creation of these types of indices and so there’s no reason to promote another platform’s product when Terra’s solution will likely be better.

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Agreed. I don’t see how this is actually useful for people inside or outside of crypto - those within can just buy the token on Uniswap; those outside don’t need or care for it.