Index Coop announced this Wednesday, March 16, through its Twitter account, its new partnership with Argent and ZigZag.
“Index Coop is pleased to announce that we have partnered with ZigZag Exchange and Argent to make it easier than ever to access our products on their mobile interface. Over the past year, crypto indices have seen increasing interest from the DeFi and FinTech communities, but due to a high investment entry point for profitable trades, they have so far been more popular with professional traders and institutions. Argent’s new Layer 2 solution marks an important step forward in democratizing the accessibility of investments in ERC-20 tokens”, he said through an article published on his website.
The company explained that Index Coop is the industry leader in creating state-of-the-art crypto products, offering a wide variety of investment vehicles for individuals and institutions. All Index Coop products are optimized for ease of use, security, gas and tax efficiency. However, Ethereum gas fees have made trading and staking profitable and limited to medium investment amounts, resulting in a growing popularity of Layer 2 solutions. These new L2 chains introduce the ability to reduce transaction fees to a fraction of the price of fees on Ethereum.
In his opinion, Argent is taking the intuitive user experience and onboarding to a new level, making it the simplest and most secure smart wallet for cryptocurrencies. 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 technological innovation goes beyond ease of use. There are three main benefits to Argents Layer 2 accounts.
1. Lower fees
By connecting to zkSync, a layer 2 network built on top of Ethereum, transaction fees are up to 100x cheaper than the mainnet. And by using the innovative ZigZag exchange, users can enjoy better prices when trading. This opens up the possibility for smaller investors to build positions in indexed products over time without prohibitive gas fees.
Unlike centralized exchanges like Coinbase or Gemini, Argent is a non-custodial wallet, which means you and only you are in control of your assets. Argent is also pioneering wallet recovery solutions that bring DeFi access more in line with the kinds of railings modern consumers have come to expect.
As a true Layer 2 solution, zkSync provides low fees and near-instant transactions while inheriting all Ethereum’s Layer 1 security.
Argent’s zkSync wallet brings you the best of Ethereum at rates up to 100x cheaper than L1. You can access fiat and exchange for any of our thematic indices seamlessly in the app.