View from the Nest #16

Catch up with the Co-op

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

  • FLI Index reaches Decision Gate 2

  • More options for your DPI

  • To diversify or not to diversify

  • It’s (wayyy) over 9000

Assets under vault: $137.41m (+9.8%)

Across 1 product: $DPI: $480.59 (+6.5%)

Index token: $28.63 (-3%)

Figures correct as of 21st Feb, (7 day change shown in brackets)

FLI Index reaches Decision Gate 2

The final round of voting has begun to onboard the FLI index and launch in partnership with Index Coop. At the time of writing the vote stands with 95k INDEX voting for, but a total of 198k tokens must vote in order for the result to be accepted, so don’t forget to head over to the snapshot page and cast your vote!

If you read the IIP but perhaps missed the community Q&A, or if you’re like me and still just aren’t sure exactly how this product will work, Verto took the time to run through the details with Scott Lewis from Pulse inc on the most recent View from the Nest Podcast.

More options for your DPI

Another week and another integration for our flagship product. Premia Finance are now offering the ability for anyone to mint or trade both put and call options for the DPI/DAI pair, which means you can head over to their platform right now and create the right option for your outlook.

Premia’s offering is innovative and unique in the DeFi space in that they are using the ERC-1155 token standard. This allows for verification that the options minted remain uniform but perhaps just as important is the gas savings that come with using this method. More information on the details are available here.

To diversify or not diversify

This week, a proposal was put forward to purchase $200k of ETH using INDEX to begin diversifying our treasury holdings. This comes after many discussions on weekly calls and Discord on our treasury management strategy. The proposed framework includes allowing the Treasury Committee to sell a portion of INDEX tokens through a mixture of market and OTC trades, at their discretion, to avoid front running and to minimise market impact.

The main benefits of taking this action now are to:

  1. Reduce the volatility of our treasury holdings (albeit only by a small amount)

  2. Pave the way to potentially scale-up the Smart Treasury after a 3 month trial period

  3. Absorb some OTC trade requests for the INDEX token

Forum members are able to vote on the topic to signal their sentiment and join in the lively discussion in the accompanying thread.

It’s (wayyy) over 9000

I promised this would come back when we peeked above 9000 DPI holders, well at last check we were over 12,000.

We have also seen DPI/ETH liquidity climb over $6m on Loopring providing a low slippage gas-free environment to trade your DPI. It seems like everywhere you look, DPI is demonstrating its product-market fit and enabling holders of all sizes access to the top tokens in DeFi.


We always welcome new members to the community, if you like what you see come and join the discussion in our social channels. @darkforestcap