For advisors and their clients, on-chain products offer simple, diversified, accessible exposure to some of the most important themes in digital assets. For now, many of these themes (like DeFi, the Metaverse, crypto, or liquid staking) are not widely available off-chain. Furthermore, these products are available to previously underserved constituencies globally (except in jurisdictions that impose restrictions on such products). And while it is sometimes possible for users to replicate the basic strategies of our tokens independently, doing so would mean numerous transactions, associated transaction fees and sometimes burdensome tax reporting requirements depending on where they live. With index tokens and on-chain structured products, users gain access to the most significant assets in a given theme with one purchase of one token. Users can redeem the index token with the underlying constituents at any time, and like most digital assets, index tokens can be traded permissionlessly 24/7.
