Amun is a platform that issues crypto exchange-traded products or ETPs. The real focus of this project is to simplify the ways in which crypto products are traded to make them more accessible to users. One long-standing criticism of cryptocurrency is that the investors are mostly first-timers, and the technical outlook of the market might give them a hard time. So, Amun simplifies the most popular and often sophisticated strategies from the financial market for investors in the crypto community. The developers’ team at Amun brings out new tokens that open up new areas of investing that are currently not available in the crypto space.
Amun brings index trading to the Solana ecosystem with the launch of the SOLI token. This new token gives exposure to five high-yielding assets from Solana. According to James Wang from Amun, this new token is expected to bring more attention towards the up-and-coming projects on Solana. This will invite more investments towards the rapidly growing Solana ecosystem.
Solana is a decentralized blockchain network founded in 2017 by Solana Labs. The network was created to address the issues found in the Ethereum blockchain, like higher gas fees and slower transaction speed. Solana was soon added to the list of Ethereum Killers, thanks to its state-of-the-art technical infrastructure. The coin posted growth of 12,000% in 2021 alone and rose to a market cap of $66 billion. Now, the predictions state that SOL would post a certain growth of 1000% in the next five years.
According to Amun, the reason for choosing the Solana ecosystem rests on its technical outlook and performance in the past few months. Solana accommodates more than 500 highly profitable dApps, and its price skyrocketed from a mere 2 dollars to a whopping 260 US dollars last October. It is fast, reliable, and one of the potential alternatives for Ethereum. Read this complete SOL crypto price prediction to see why some experts see it as a potential competitor to Ethereum.
As SOL would account for 33% of the SOLI index coin, it could be positive propulsion for Solana in the market. The sophisticated, less volatile strategies like index trading could push Solana towards more potential and professional investors. SOLI will use mSOL, a liquidity version of the SOL token from Marinade Finance. And this coin comes with a 6% annual yield percentage giving profit from both yields and assets. SOLI would primarily be launched on Radium, intending to bring exposure to native projects and applications of Solana. Radium and Serum will carry a weightage of 32.45% and 28.97%, respectively, in the SOLI index token.
The minting and burning processes are also simplified with just one click from the Amun platform. The index will be revised and rebalanced every month to ensure the assets are distributed fairly and by the rates of capitalization and Liquidity in the market. The management fee for the index is set at 1.5% of the entire stake, which will not come to effect until the end of 2022.
