Index Coop Docs

Money Market Index (icSMMT)

A stablecoin-denominated yield product that provides diversified exposure to the top money market yields in DeFi.
The Index Coop Money Market Index (icSMMT) is designed for large purchasers. We suggest a minimum purchase of $500,000.

What is the Money Market Index (icSMMT)?

The Money Market Index ($icSMMT) is an index token of the top stablecoins distributed across variable-rate, peer-to-peer, and fixed-rate lending positions on Ethereum main net. Within the index, USDC, DAI, and USDT are deposited into the most battle-tested money market protocols: Morpho, Notional, Aave v2, and Compound. The composition is defined by a methodology that sets equal weights for each stablecoin and determines which protocols to deposit to based on historical rate data.

How can I buy icSMMT?

What is the methodology behind the Money Market Index?

The objective of the Money Market Index is to enable token holders to access sustainable stablecoin yields through a single token by building on the most battle-tested money market protocols. Stablecoins that pass the inclusion criteria are equally weighted within the index, resulting in a balanced composition of USDC, DAI, and USDT at launch. Distribution across protocols is determined by comparing Base APYs using a 180 DMA for all protocols that meet the inclusion criteria; this measurement excludes incentives or non-stablecoin rewards in order to determine “real yield” per position. Each stablecoin is then split evenly between the two highest-yielding positions across two distinct protocols.

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