ChainSafe announced the Polkadot Index Network Token [PINT]


PINT or Polkadot Index Network Token is a new service from ChainSafe that will help Polkadot investors put their money in an aggregated index. The index will manage investments across various Polkadot services.

The StakerDAO community chose ChainSafe as the lead development team behind PINT, and the service will be available soon. PINT will serve as an index fund for the Polkadot community and help them spread their money across multiple projects. Some of Polkadot's biggest projects have already announced their support for PINT.

Another index fund in the TradFi ecosystem

Polkadot is one of the leading blockchains in the DeFi world. Many projects have emerged on this blockchain that show all the capabilities to serve numerous clients. They compete directly with known Ethereum or BSC projects. Interest in Polkadot projects has grown very rapidly in recent months, and many new investors tend to put their money in various pools, farms, or participation services. PINT is a new fund for these users that provides diversified exposure to multiple Polkadot projects.

The development of an index fund for the Polkadot community was a proposal from the gambling provider Stateless Money. It published the proposal on March 31 and proposed ChainSafe as the lead developer. Now the StakerDAO community chose ChainSafe and PINT is on its way for development and release.

As mentioned above, many Polkadot projects are ready to be in the PINT index. So far, six projects, including Acala, Equilibrium, HydraDX, Litentry, Moonbeam and Plasm. ChainSafe will begin developing the PINT substrate pallets and runtime. The team says PINT will be ready in three months.

As mentioned above, an index fund like PINT will help investors spread their money across multiple projects and lower risk. According to him ad:

“The benefits of having index funds are already well touted in the TradFi world, where investors gain exposure to a basket of underlying assets. Similarly, the PINT token will be an on-chain DeFi index token that provides diversified exposure to major projects within the Polkadot ecosystem. More importantly, paratroopers can choose to allocate a portion of their tokens to PINT. '

Index funds like PINT are sure to attract more investors to the Polkadot community. Help projects find more liquidity faster. When regular users see easier opportunities to invest their money in Polkadot projects, we can expect a general increase in the price of all of them. But after all, we have to wait for the four phases of PINT development to be completed in the next three months and wait for the market response to the index fund.

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