Overview
Keeping up with the progress in a DAO can be hard work! Our newsletter aims to share what we’ve been up to week by week in the Coop, highlighting progress across products, governance and the Index community as a whole.
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Weekly Summary
Metaverse Index
Meme Team
Website upgrade
CGI Logo
Order of Magnitude
Assets under vault: $107.99m (+26.5%)
Across 1 product: $DPI: $386.02 (+19.5%)
Index token: $22.21 (+10.3%)
Figures correct as of 7th Feb, (7 day change shown in brackets)
Metaverse Index
The proposal to launch the Metaverse Index is live on the governance forum in the form of a draft IIP. There will be a community call tomorrow (Monday 8th Feb at 8pm UTC) to give an overview of the index methodology and allow a chance for the community to ask questions. The next step after the call will be to open Decision Gate 1 voting via snapshot, this is a chance for the community to signal their sentiment toward the index before it goes in front of the business analysis team.
We are pretty excited about the potential for such a product, especially given that it originally came from the community, but it’s not without challenges. For example, the liquidity of some project tokens is quite low which makes rebalancing liable to slippage, we have reached out to the relevant projects and will look for ways to partner up and bring the levels to something more reasonable.
Meme Team
Modern markets are built on reflexivity and memetic value can’t be understated. Can you put a price on memes? Community member @BigSky certainly thinks so. His post on the forum discusses the idea of paying creators for their content, using the strength of the community to spread our message through the power of memes. We have a decent track record in this area already, the first one that comes to mind is Lemonade’s BED portfolio which has a number of prominent crypto accounts spreading the message.
Website Upgrade
This week a crack team was assembled in the Discord to discuss opportunities around improving the Index Coop website. Prompted by ongoing conversations in the forum, some of our most creative owls are sharing both ideas and designs.
Given the pace of growth for the Coop in the last few months, it’s no surprise the website hasn’t quite kept up with all that we’ve been doing! We are linking the latest publications via the site now, and the how-to buy guide for DPI has also gone live, but there is still room for improvement. Keep an eye out over the coming weeks and months for moves in that direction.
$CGI Logo
Michael from Coinshares dropped into the Discord this week to share the shortlisted token design for their upcoming crypto & gold index. Blending Bitcoin’s orange with a rich gold hue, the design is simple and has the recognisable Coinshares logo stamped into it. Very tasteful, much premium.
Orders of Magnitude
$DPI recently saw 24hr trading volume of over $10m, which is a value larger than it’s total market cap from just over 3 months ago! As a reflection of DeFi and crypto more generally, $DPI represents the exponential growth being seen across the board.
We always welcome new members to the community, if you like what you see come and join the discussion in our social channels. @darkforestcap