Decentralized autonomous organization (DAO) Index Coop has released an index that offers users diversified liquid staking assets on the Ethereum network.
The Diversified Stakes ETH Index (dsETH) is designed to make it easier for users to distribute their stake across a range of protocols offering to earn an aggregated return to mitigate the risk of volatility, Index announced Tuesday.
At inception, the product includes Lido’s etETH, Rocket Pool’s rETH and StakeWise’s sETH2.
Interest in liquid staking protocols such as these has been on the rise so far this year ahead of Ethereum’s Shangai upgrade, which is set to take place in March. The upgrade will allow ETH stakers to withdraw their tokens, which are currently locked on the network, thereby attracting more users looking to stake their assets.
The aim of dsETH is to provide users with a way of earning yield on the most prominent staking services, without being completely exposed to one particular protocol.
Read more: Lido’s Total Value Locked Spiked 33% In Past Month, Becoming Largest DeFi Protocol by TVL, Says DeFiLlama
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.