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
CGI has officially launched!
Getting into BED with Bankless
MVI flies through DG1
Pool Together
Forum highlights
Assets under vault: $95.36m (-30.6%)
Across 2 products:
$DPI: $347.75 (+26.1%)
$CGI: $93.54
Index token: $16.10 (-39.7%)
Figures correct as of 28th Feb, (7 day change shown in brackets)
CGI has officially launched!
There is plenty of mainstream coverage around CGI if you haven’t already seen the launch announcement, but we’ve been covering it extensively in the newsletter and podcast for the last few weeks so you’ve got no excuse!
With $400k of liquidity provided for the Uniswap pool it’s possible to pick the token up there, or for larger purchases using the mint function on Tokensets is your best bet.
It’s been a pleasure working with Coinshares up to this point and the Index Coop is excited to help CGI grow into a widely used and successful product from here.
Getting into BED with Bankless
From one top product to another, the team from Bankless dropped into the forum this week to propose launching the BED (Bitcoin Ethereum and DPI) portfolio as an Index Coop product.
With a huge following in DeFi and a wealth of crypto knowledge between them, Ryan and David would clearly make fantastic partners for the Coop. The challenge for the BED portfolio is that it’s simple to replicate and doesn’t appeal to the current crop of DeFi degen traders. For it to really work, we would need to land some major exchange listings and spread the word primarily to newcomers. There has been lively debate on the proposal in our forum on these topics and others, jump in here.
MVI flies through DG1
It’s product, product, product this week as the Metaverse Index (MVI) passed through Decision Gate 1 voting yesterday. With a convincing 154k INDEX from 65 wallets signalling 100% in favour, we can use this result to focus attention internally as we work towards Decision Gate 2 and the official launch.
Between now and then it will be a case of preparing token project teams for the product to go live by working on improved liquidity and ensuring the methodology works as proposed with current market conditions. With FLI and CGI out the door the Set engineering team should be able to help get this product over the line and into the wild.
Pool Together
If you’ve been looking for a way to make holding DPI productive, but you don’t like the idea of pooling your tokens alone in Uniswap, you can Pool Together instead! The Index Coop is sponsoring a DPI prize pool with 100 INDEX per week going to one lucky winner! Lemonade Alpha put together this post with all the info you need before jumping in.
Forum Highlights
My fault for saying the governance forum was quiet last week, as this week we’ve also seen:
Sushi being included in the upcoming DPI rebalance
Over Analyser setting out an overall liquidity mining strategy
Greg re-affirming our North Star metrics (Gold, Frankincense and Myrrh index anyone?)
The new Weekly Flyer from Mr Madila
And many more! As always please do have a read through and jump into the conversation.
We always welcome new members to the community, if you like what you see come and join the discussion in our social channels. @darkforestcap