Photo by Remi Thorel

How to Buy & Stake $GMI

If you also find yourself in deep doubts about what to invest in this immense sea of crypto, the Bankless DeFi (GMI) token brings your painkiller in form of 12 coins curated by Index Coop in early-stage with great growth potential.

Marcus Dutra

4 min readFeb 25, 2022

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A index with 3 parts and a Hong Kong city as background — Photo by Chi Hung Wong

What Is $GMI

If you are already familiarized with financial terms, this token works like an ETF (Exchange Traded Fund), a basket of very well-chosen assets.

12 cryptos percantage writen in a wheel, in the background a neon party — All assets used in $GMI / Photo by Alexander Popov

The strategy consists of gathering 12 cryptocurrencies from DeFi projects that are not yet “blue chips” (those preferred on the market), but with a great development horizon. That is, it allows the holder to dilute his investment risks in promising startups that have a good chance of rocketing.

Below is some more financially technical information for those interested in how the token runs and how the basket is composed.

Technical informations about GMI Tokens choose and a beautiful red glassy construction as background — Photo by Remi Thorel

“Always know your token.”

How to Buy $GMI

Now how you know well what is the project, you have two good ways to acquire GMI tokens. And both ways to buy it are quite simple, you will need only 3 easy steps.

Buying by Index

1. Open the GMI page on Index Coop site.

Printscreen of the GMI page in Index Coop App — GMI Page at Index Coop well designed app

2. Choose the best network for your moment, you can choose Ethereum or Polygon

Comparison between two exchanges in blockchain — An asymmetrical exchange between 2 networks

As you can see the gas difference between the networks is unbelievably high, from $41 to $0.0073 (Polygon is fantastic!), but be aware that by buying in Polygon network you won’t be able to stake your GMI to earn $INDEX rewards.

Buying by Uniswap

1. Open the Uniswap site.

Printscreen of Uniswap app home page, used for swap tokens — A common way for those who already navigate in web 3.0

2. Import GMI Token

As you can see, the GMI token is not listed in ready-to-swap coins yet. So you need to search for “GMI” and import just like follows below.

Printscreen of tokens import in Uniswap app — Unlisted tokens are very common in Uniswap, but nothing difficult to change

3. Swap at the better price

Of course, you have a lot of options to swap, choose your better option. Here I chose ETH because of -0,32% price impact (the lowest of all tokens).

Printsceen of ETH>GMI swapping, showing fees and gas prices — Despite the high gas, ETH swap to GMI still the lowest

How to Stake $GMI

As easy as to buy, it’s to stake. You only need to go to Index Site and grant your tokens to the pool.

1. Go to Liquidity Mining in Index

Open the pretty designed Index Coop website.

Printscreen of Liquidity Mining page in Index Coop Site, the first one is the GMI — A lot of staking projects here, but GMI it’s the first one to see

2. Approve staking

Select the approve staking option and give permission to your wallet. Once approved, just deposit and you will start earning the $INDEX

Printscreen of Metamesk and GMI Staking approving — Giving permission to MetaMesk stake your tokens at Index Coop Liquidity Mining Pool

Conclusion

Bankless DeFi Innovation Index is a great option for those who get lost easily when choosing their favorite DeFi project, especially the 2.0 ones that are even more interesting.

And we can also see the difference between congestion on the Ethereum network and Polygon, with more than $41 difference in gas, and to fix it again, buying through Polygon you can’t earn $INDEX tokens through Liquidity Mining (Staking). Also, its staking has an APR of 37.15%, which is not stable for the long term, so only invest as much as you can afford to lose.