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
DPI is listed on Bitmart!
The Index Coop Financial Report
Moar data
IIP Triple Threat
Assets under vault: $122.14m (+28.1%)
Across 2 products:
$DPI: $453.82 (+19.6%)
$CGI: $103.97 (+3.3%)
Index token: $16.40 (+0.8%)
Figures correct as of 7th March, (7 day change shown in brackets)
DPI is listed on Bitmart!
As of 3rd March DPI began trading on a centralised exchange for the first time over at Bitmart. A big win for the index and all thanks to the great work from community members @BigSky and @ReganBozman.
Listing on a centralised exchange is such a big step for the Index Coop as it helps us build legitimacy, not to mention we can start to reach a wider audience with our products. Getting the first listing was always going to be the most difficult but we’re hopeful this can pave the way for more to come in future, stay tuned…
The Index Coop Financial Report
Community member @MatthewGraham dropped some knowledge on the market this week with the first Index Coop financial report. The result of a crack team ranging from engineers, designers and ex-financiers, the initial report is just a taster of what’s taken place since we launched, but there are improvements related to automating the data and building out financial dashboards still to come.
The report was well received and reflects our commitment to transparency and being data driven. You can view the tweetstorm here, and if you’re a Substack subscriber you probably already saw the long form report that was posted right here.
Moar data
If data is your thing then you’ll love the dashboard @0xBoxer created to study DeFi indices on Dune Analytics. Containing views that show AUM growth, constituent token weights and overall performance across a number of different index projects including Index Coop, this is a treasure trove for diligent investors looking to allocate in the index space.
If you have a look through yourself you can spot gems like this:
IIP Triple Threat
Three improvement proposals moved from draft to Work In Progress this week, here’s a brief outline of all three to get you up-to-speed:
IIP 16 Smart Treasury - we are in the latter stages of preparing to kick off a Balancer smart pool to make a small part of the IC treasury productive. Working in tandem with developer Alpha Guy I put forward a final set of parameters and technical specs for deployment. This will be a 3 month trial to begin with so we can study and learn how the pool behaves, in the meantime work will continue to set out a wider treasury vision and explain how the smart pool forms a part of that.
IIP 17 Token Terminal Index - With a rework of the original methodology Token Terminal are back and ready to go through decision gate 1 (DG1) voting for their Smart Beta index proposal. After identifying an issue that could cause undesirably large rebalances and therefore slippage, the team has introduced a change whereby a token rebalance or inclusion is capped at a maximum change of 5%, with any excess being distributed among other tokens pro-rata.
IIP-18 ETH2x FLI Liquidity Mining - With the ETH Flexible Leverage Index passing through DG2 and the product ready to launch, a proposal to offer liquidity mining incentives has been put forward. The suggestion sparked conversation around our LM strategy overall and particularly how we measure the ROI for this kind of expenditure. The community is now working on a ‘fee menu’ to simplify the offering and make things clearer for methodologists and the Coop alike.
That’s it for this week, full steam ahead for the Coop community as we push forward with multiple products and improvements to the protocol.
We always welcome new members to the community, if you like what you see come and join the discussion in our social channels. @darkforestcap