The JPEG Index is a tokenized representation of a curated collection of blue-chip NFTs. It offers users the opportunity to co-own these NFTs, regardless of their individual sizes. By holding the JPEG Index token, users gain exposure to blue-chip collections, potential value appreciation, ETH yield generated through the JPEG'd protocol, and the ability to participate in the governance of the index.
The current JPEG Index is composed of one NFT from each of the following collections:
Bored Ape Yacht Club #3634
To generate yield for $iJPEG stakers, the JPEG Index utilizes the JPEG'd protocol. Each NFT within the index is deposited into a non-liquidating vault. This vault allows the index to borrow assets, which are then deposited into The Citadel, a platform where they can earn yield.
$iJPEG was airdropped 1:1 to donators of the iJPEG donation event following PIP-43.