Over the last year, crypto indices have seen increasing interest from DeFi and FinTech communities, but due to a fairly high investment entry point for profitable trades, they have until now been most popular amongst professional traders and institutions. Argent’s new Layer 2 solution marks a substantial step forward in democratizing the accessibility of ERC-20 token investments.
Index Coop is the industry leader in building state-of-the-art crypto index products, offering a broad variety of investment vehicles to individuals and institutions. All Index Coop products are optimized for ease of use, security, gas, and tax efficiency. However, Ethereum gas fees have made profitable trading and staking limited to mid-sized investment amounts, resulting in the rising popularity of Layer 2 solutions. These new L2 chains introduce the ability to reduce transaction fees to a fraction of the price of the fees on Ethereum.
Argent is taking intuitive user experience and onboarding to a new level, making it the most simple and secure smart wallet for crypto. Wallet users can easily store and send assets, earn interest, invest and trade facilitated by ZigZag Exchange. By adapting familiar UX concepts from fiat banking apps, users new to crypto will be able to quickly start understanding and navigating their crypto investments. But Argent’s technology innovation goes beyond ease of use.
There are three primary benefits to Argents Layer 2 accounts.
- Lower Fees
By plugging into zkSync, a Layer 2 network built on top of Ethereum, transaction fees are up to 100X cheaper than mainnet. And by using ZigZag’s innovative exchange, users can enjoy better prices when trading. This unlocks the ability for smaller investors to build out positions in index products over time without prohibitive gas fees.
Unlike centralized exchanges such as Coinbase or Gemini, Argent is a non-custodial wallet which means that you and only you are in control of your assets. Argent is also trailblazing wallet recovery solutions that provide access to DeFi more in line with the types of guard rails modern consumers have come to expect.
As a true Layer 2 solution zkSync provides low-fees and near-instant transactions while inheriting all the security of the Ethereum Layer 1.
Argent’s zkSync wallet gives you the best of Ethereum at up to 100X cheaper fees than L1. You can onramp fiat and swap for any of our thematic indices seamlessly in-app.
About Index Cooperative
The Index Cooperative is an awarded decentralized finance startup and web3 community powering crypto index products that can be purchased on a blockchain. Index Cooperative products provide one-token exposure to popular crypto themes such as decentralized finance, the Metaverse, and the Web3 data economy. As of March 1st, 2022, Index Cooperative products have an aggregate Total Value Locked (TVL) of approximately $200mm.