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
Working group progress reports
$300m TVL
Index Coop Org chart
Rari Capital integration
MVI is one month old!
Assets under vault: $281.6m (+18.5%)
Across 3 products:
$DPI: $556.82 (+1.1%) | $ETH2x-FLI: $353.24 (+57.3%)
$MVI: $91.19 (-0.6%)
Index token: $62.33 (+43.7%)
Figures correct as of 9th May (7 day change shown in brackets)
Working group progress reports
Both the Analytics and Growth working groups dropped a 1 month progress report recently.
Analytics, headed by @JDCook completed a number of ad-hoc requests mainly related to product, including DPI, MVI and work team analysis for future products. As always you can check out the variety of dashboards over on Dune. JD was joined by 3 other contributors during the month and is looking for someone to help part time (10-15 hours/week) going forward.
As for Growth, @LemonadeAlpha rocked some numbers in his post to track progress against (primarily) impression targets. April saw a mixed bag of results but with the impression mining program well underway it’s expected that we see an uptick in social volume across the board. Don’t forget to submit your receipts according to the program rules if you’ve been telling the world how great Index Coop is!
$300m TVL
It feels like just last week we were celebrating $200m TVL and just this week we briefly hit the next big round number (and dropped back below in the 24hrs since 😅)!
Index Coop org chart
An often asked question by new joiners is ‘who does what in the Coop?’. Luckily we now have Pepperoni Joe handling the onboarding process and he took a shot at a first draft of an org chart for us this week.
It’s no easy taks to try and do this for a DAO, and of course there will be iterations to the chart in future. The post sparked some comments around other ways to show the information, as well as products developed especially for helping DAOs set up and maintain a chart.
There will be further discussion on organisational tools on this Wednesday’s org call (6pm UTC) to follow up on the options available to us.
Rari Capital integration
BD team member @mringz bought forward a plan to increase extrinsic productivity for our token suite this week, through the creation of a community governed Fuse pool with Rari Capital.
The idea here is to enable lenders to earn interest and take on leveraged positions against Index Coop products or the INDEX token itself. Along with the Reflexer proposal from a few weeks back, it’s been quite a popular topic recently, but the same caveats apply here. We listed DPI on Cream in the very early days and haven’t seen significant borrow demand for the token (why short DeFi using a diversified index specifically designed to protect downside risk), there is no guarantee these pools with Rari will be any different.
The difference with a Fuse pool is the level of control the creator has, being able to set collateral factor and liquidation incentives. The proposal on our forum comes with three options, to seed or not to seed with treasury funds, or whether to create the pool at all. Make sure to head over and share your thoughts if you haven’t done so already.
MVI is one month old!
Although it feels like longer, MVI has only been around for 4 weeks. Let’s take a quick look at what’s going on with the Index Coop’s latest product:
First rebalance successfully completed, weights here
Proposal in partnership with Decentral Games to add $200k liquidity to the MVI/ETH pool from their treasury (if you are a $DG holder please vote here!)
The launch of our new content hub for all things MVI and metaverse, MetaPortal
Coverage in major media outlets including Yahoo Finance (US) and Blockbeats (China)
1200/day new unit mint volume and a $6.5m market cap
Going forward we are partnering with some of the underlying projects to run some pretty exciting marketing campaigns, the focus now is to continue this steady growth and try to share our knowledge of DeFi and crypto investing with the metaverse native community.
We always welcome new members to the community, if you like what you see come and join the discussion in our social channels. @darkforestcap