View from the Nest #29
Catching up with the Coop
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.
For more information and to get involved please visit our:
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Weekly Summary
Activating Intrinsic Productivity for $DPI 🚜
Prioritizing Products in the Pipeline 🗂
Forming a MetaGovernance Committee 🗳
Set Labs Successfully Completes a Series A 💸
Taking Some Days Off 🏖
Assets under vault: $187.3M (-5.0%)
Across 4 products:
$DPI: $350.07 (+1.7%) | $ETH2x-FLI: $100.09 (-33.8%)
$MVI: $45.63 (-1.7%) | $BTC2x-FLI: $33.05 (-14.5%)
Index token: $27.34 (-3.3%)
Figures correct as of 30th May (7 day change shown in brackets)
Activating Intrinsic Productivity for $DPI 🚜
Intrinsic productivity (IP) for $DPI is top of mind again this week following a forum post by mindful owl @Thomas (TenaciousTerrier).
In early May, @Kiba wrote IIP-29 to earn yield on $YFI and $SUSHI within $DPI. The proposal led to some debate, but passed DG1 with an 80% majority. Now, Thomas has recognized that going to DG2 for the final decision requires a plan for how to implement IP.
In a forum post brimming with knowledge, he outlines the creation of a standalone product, $iDPI, that separates activated IP from the regular index. Creating a new product has some drawbacks and some benefits, but most importantly, it could alleviate many concerns that come with making $DPI a productive asset.
We highly recommend reading the post and participating in the discussion. The poll is now open on the forum.
Prioritizing Products in the Pipeline 🗂
Since our founding, the Coop has successfully brought to market five different products. Leveraging what we’ve learned along the way, @metfanmike and @catjam proposed updating our existing product prioritization framework. The revisions are an attempt to simplify the existing framework, making it easier for everyone to understand while simultaneously increasing its usefulness as a gauge for risk and return.
One of the major changes is to weight the potential benefits of a product relative to anticipated costs more heavily, reasoning that an attractive product with market fit should not be slowed down due to financial, operational, or technical costs.
The framework is still being developed, so go drop some feedback on the post!
Forming a MetaGovernance Committee 🗳
Index Coop has accumulated a large amount of voting power in the constituent protocols within $DPI. However, a recent analysis from @Cedrick and @Lavi has revealed that we haven’t voted on over 75% of all meta-governance issues.
To fix this, they have proposed forming a dedicated committee that is delegated voting power over all meta-governance votes. This is meant to solve current shortcomings and streamline the process around meta-governance.
It’s a tricky topic given that meta-governance is one of the primary value propositions of holding the $INDEX token. The poll is live.
Set Successfully Completes a Series A 💸
Set Labs - the founding company of Index Coop and provider of infrastructure for our products - announced this week that they have successfully completed their Series A. The $14M round was led by 1kx and Hashed.
We offer a hearty congratulations to the Set team and CEO @Felix on this successful round!
Taking Some Days Off 🏖
“As we build, we need to be conscious that the culture we build today, will be the same culture we will have at $50 or $100 billion dollars.” - @BigSky7
There’s no denying that the Coop has seen tremendous growth since launch 9 months ago. We are quickly becoming a leading DeFi protocol well on our way to democratizing access to low-cost, structured crypto products. With the rapid growth we’ve seen inside a 24/7 industry, it’s easy to forget to take some time off.
@BigSky7 proposed all owls take a break June 10th-13th. That means no meetings, no expectation of response on Discord, and reduced activity on the socials. The goal: disconnect, spend time with your family and friends, and prepare for our next stage of growth.
If you have an opinion on how this could work, or simply want to check out the proposal, head over to the forum to check it out!
We always welcome new members to the community, if you like what you see come and join the discussion in our social channels. @Accelerated Capital & @Lavi