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
Let the numbers do the talking
Onboarding new joiners
INDEX sale community call
Design set sights on site
Assets under vault: $237.5m (+47.4%)
Across 4 products:
$DPI: $551.73 (+32.6%) | $CGI: $132.58 (+15.4%) | $ETH2x-FLI: $216.60 (+56.8%)
$MVI: $91.59 (+28.2%)
Index token: $42.11 (+24.1%)
Figures correct as of 2nd May (7 day change shown in brackets)
Let the numbers do the talking
The figures in the weekly summary above appear week in week out, so might be easy to overlook, but let’s focus on them a little more today.
First up assets under vault or AUV. With recent price appreciation in DPI and the absolutely insane growth in ETH2x-FLI, it’s no surprise we not only broke $200m but completely smashed through it. ETH2x-FLI market cap went up 6x in just one month! (h/t Documenting DPI).
Meanwhile MVI continues to grow steadily, over $5m mcap just 4 weeks after launch and approaching the first rebalance. You can see the effect of launching these products reflected in the chart below as our unit supply moves exponentially up and to the right.
Daily fees recently peaked at over $6k/day (over $2m annualised) and show no sign of stopping there with BED, BTC2x-FLI and SMI all still to launch in the coming weeks. Probably the best part of all this is the $120m of unincentivised DPI supply, ETH2x-FLI also being completely unincentivised and MVI LPs receiving just 28% APR rewarded in INDEX.
Onboarding new joiners
Despite only recently joining the Coop himself, Pepperoni_Joe arranged a call this week to talk more about how things work within the community and how to get more involved. Targeting new arrivals and people looking to contribute more to the DAO, the call was really well received and it’s easy to see the positive impact with more owls commenting on the forum and Discord in recent days looking to contribute.
There will be more calls going forward to make the onboarding process smoother, and the implementation all comes from this post which kicked off the idea a few weeks back.
For the fantastic work spotting this opportunity to improve, and for leading the solution, Joe has been nominated as a community manager alongside wise owl Mrvls Brkfst. Their shared role will be to herd owls to the right place in the community (much easier thanks to the new process), share information across the working group leads and moderate the Discord/forum. I can’t think of two people better suited to represent the Coop to new joiners.
INDEX sale community call
Just a quick public announcement to say there will be a call to discuss the upcoming sale of INDEX to contributors, held on Tuesday 4th May at 8:00 am PST // 3:00 pm GMT. If you have any questions add them to this thread before the call and make sure you message @bigsky with your email address to be added to the invite!
Design set sights on site
With the vote to create a Creative & Design Working Group firmly in the bag, group lead Dev has put forward a plan to demo what the team can achieve, culminating in a redesign of the Index Coop website.
The project will come in two main stages, first up is a demo of what the key pages could look like (based on the forthcoming brand framework) and a chance for the community to give feedback. Assuming the proposed upgrades are acceptable, part two would involve building the site out based on the designs and accommodating for the current limitations we have on development resources.
Currently indexcoop.com only accounts for circa 15% of trading volume but perhaps with a fresh look and better content integration, this could increase. We also see a fair few users visit the page on mobile (43%), so optimising for this is important. I’m keen to see what the newly created working group can come up with!
We always welcome new members to the community, if you like what you see come and join the discussion in our social channels. @darkforestcap