Interest Compounding ETH Index
Interest Compounding ETH Index is a tokenized position that uses leverage to generate 3x daily returns on staked ETH
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- Asset Type: ERC-20
- Market Cap: $8.9M
- Fully Diluted Valluation: $8.9M
- FDV / MC: 1
- Ranking inside Exponential (excluding stables): #94
- Circulating Supply: 2,559
- Total Supply: 2,559
- Volume (24H): $1.1K
- ATH: $4,475.04 (03/12/2024)
- ATL: $82.18 (06/14/2022)
icETH is a low-cap, fully collateralized asset. This asset is exposed to the underlying risks of Index Coop, Aave V2, and Lido, which are protocols all rated as Average.
icETH has an uncapped supply but has inflation control or burn mechanisms in place. icETH automatically rebalances its components to achieve 3x daily returns on Lido staked ETH. It is always redeemable for its components from the Index Coop protocol. Compared to FLI products, the prices of the underlying tokens in icETH generally move in tandem as it uses stETH as collateral and ETH as debt. This means the LTV ratio is more stable and only requires rebalancing every few months (versus every day), which leads to lower liquidation risk and volatility drift (decay in returns due to leverage).
icETH is highly correlated to the overall market. Compared to FLI products, the prices of the underlying tokens in icETH generally move in tandem as it uses stETH as collateral and ETH as debt. This means the LTV ratio is more stable and only requires rebalancing every few months (versus every day), which leads to lower liquidation risk and volatility drift (decay in returns due to leverage).