Balancer Grants DAO Brings Indexed into Balancer’s Ecosystem

The team at Balancer Grants DAO is proud to announce the approval of the grant application by Indexed to migrate their current and future products into Balancer v2.

Building indexes on top of Balancer is a key area of potential growth that is currently under-utilized. Indexed has a proven track record in index management, with six different offerings currently live with $34M TVL. We look forward to working with the Indexed team to build on their current success and showcase the true potential of indexes built on Balancer v2.

The grant covers three key deliverables — an updated oracle framework to help with adding new assets, an Asset Manager to plug into Nirn, and a customized pool factory suited for index creation and management. Indexed has applied for a total of $150.000 in grants. The first of these grants, $50.000 has been approved and will begin now.

In order to align all parties in the long term success of both protocols, a treasury swap is being proposed to both DAO’s. This will promote community engagement and represents a first of its kind transaction for Balancer and Indexed if approved.

The grants team strongly believes in executing on the vision for Balancer outlined by Fernando. Indexed is well placed to iterate on crypto native index offerings on top of Balancer. Together with Balancer’s community, I’m very excited about what we can accomplish together in the future — Solarcurve (Baller)

Upgrading the Indexed protocol to utilise Balancer V2 will vastly improve the underlying efficiency of our products: inclusion in the SOR will increase liquidity within our pools, leading to faster rebalancing and additional swap fee yield for investors, and the ability to utilise an asset manager to handle the lending out of the underlying liquidity via our Nirn vaults enables us to capture the highest yield rates across the ecosystem without imposing significant bureaucracy or gas costs on the average holder. We’re very excited to take this leap forward with Balancer, and look forward to a productive relationship between the two protocols — Dr. Laurence E. Day (core team Indexed Finance)

Indexed Finance is a project focused on the development of passive portfolio management strategies for the Ethereum network.

Their primary products are tokens such as the DEFI5, DEGEN and NFTP: decentralised, dynamically reweighting index baskets that determine their composition via on-chain metrics. The DEFI5 in particular has proven to be the best performing index product on Ethereum throughout 2021 to date.

Indexed also recently introduced Nirn: a compositional, extensible, permissionless yield aggregator that enables wrapper tokens for collateral that are capable of being loaned across multiple protocols simultaneously.

The existing index tokens and Nirn will soon be merged, enabling investors to gain exposure to high quality, zero fee, interest-bearing portfolios — powered by Balancer — with a single trade.

The BAL Grant program is one way BalancerDAO promotes the development of the Balancer Protocol and Ecosystem.

The BAL Grant program provides support and funding ($1K — $75K) to projects committed to supporting Balancer Protocol in achieving its mission to become the number one source for Decentralized exchange trades. This program is a good fit for individuals and groups that want to run a project that builds technology or resources on the Balancer Protocol.

If you are interested in supporting the development of the Balancer Ecosystem or want to build on top of the Balancer Protocol, this is your chance! Get started by filling in the Grants Application form.

For further questions about how the Grants DAO works, check out the grants page, follow us on Twitter, or send an email to grants@balancer.community.

The BAL Grant program is one way BalancerDAO promotes the development of the Balancer Protocol and ecosystem.