Amun Launches PECO Index Token Providing Exposure to Top Polygon Projects

Thursday, 21. October 2021 14:00

Now there’s an easy and low-cost way to gain exposure to top Polygon-native projects, including Quickswap, DFYN, and Aavegotchi, via a single token

Seychelles, October 21 2021, 12pm Noon UTCAmun, a leader in DeFi index products, today announces 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 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 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.

James Wang, Head of Tokens at Amun said: “Given the growth of blockchain ecosystems beyond Ethereum, we believe index tokens that give users exposure to the top projects in an individual ecosystem are vital to onboarding users to these new platforms. We are the first company to launch crypto index products on multiple blockchains. Polygon is our first ecosystem token because of its early success in providing Ethereum users with a viable cross-chain bridging solution to achieve higher throughput, faster transactions, and lower fees.”

Sandeep Nailwal, co-founder of Polygon, added: “Recently surpassing Ethereum in daily active addresses, Polygon’s DeFi ecosystem has over $4 billion in total value locked. Launching PECO takes Polygon to the next stage of growth. While Polygon was initially developed as a side-chain to enable computation off the Ethereum mainnet, it has evolved to become the most popular interoperability and scaling platform for building Ethereum-compatible blockchains. With developers and NFT projects around the world flocking to Polygon, we’re seeing constant growth in the number of innovative projects that are achieving incredible success. With PECO, investors can get in early as developers work to shape the next phase of DeFi and Web3.”

Offering the highest developer support from Day 1, Polygon is the most developer-friendly platform after Ethereum, providing its rapidly growing developer community with access to their favourite tools, including Alchemy, Hardhat, Truffle, Metamask, Etherscan, and more. That’s why Polygon is witnessing a surge in innovative projects launching on its platform.

Currently, Polygon is home to the highest number of Dapps, more than 500, outside of Ethereum – including Sushiswap, Curve, Aave, Balancer, and Kyber.

Today’s announcement follows the Polygon Foundation investing $5 million in MATIC to seed the launch of PECO, with additional contributions made by Qi DAO, Adamant Finance, and DFYN.

– ends –

For more information, please contact:
James Wang @draecomino
Head of Tokens, Amun
james@amun.com

Jon Reader
Cryptoland PR for Polygon
jon@cryptolandpr.com


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/

About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 1200+ applications hosted, ~600M total transactions processed, ~60M unique user addresses, and $5B+ in assets secured.

If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.

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Disclaimer  
The information provided has been prepared and issued by Amun Limited (“Amun”). Amun is responsible for the PECO Token sale.

Crypto asset trading involves a high degree of risk. The crypto asset market is new to many and unproven and may have the potential to not grow as expected. Currently, there is relatively small use of crypto assets in the retail and commercial marketplace in comparison to relatively large use by speculators, thus contributing to price volatility that could adversely affect an investment in crypto assets. In order to participate in the trading of crypto assets, you should be capable of evaluating the merits and risks of the investment and be able to bear the economic risk of losing your entire investment.

Nothing in this information provided is or should be considered to be an invitation to enter into an investment and is not intended to be an offering of securities in any jurisdiction nor does it constitute an offer or an invitation to sell shares, securities or rights belonging to the Issuer or any related or associated company. The contents has not been registered with or approved by any regulator in any jurisdiction. The information provided does not constitute a prospectus or any offering and does not contain or constitute an offer to sell or solicit an offer to invest in any jurisdiction.

The information contained herein may not be considered as economic, legal, tax, or other advice and users are cautioned against basing undue reliance, investment decisions or other decisions solely on the content hereof.

Neither Amun, nor any affiliate, nor any of their respective officers, directors, partners, or employees accepts any liability whatsoever for any direct or consequential loss arising from any use of this document or its contents.

The Tokens are complex products which incorporate a high degree of risk and should only be bought or traded in by persons with appropriate technical knowledge who have experience with similar products. The Tokens have not been registered with or approved by any regulator in any jurisdiction. The Issuer reserves the right to restrict the sale of the Tokens in any jurisdiction or to any individuals or entities from time to time. The information provided should not be considered to be an invitation to enter into an investment and is not intended to be an offering of securities in any jurisdiction nor does it constitute an offer or an invitation to sell shares, securities or rights belonging to the Issuer or any related or associated company.

Amun reserves the right to terminate the Pre-Sale and process leading to the PECO Token sale, respectively the PECO Token sale at any time.


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