View from the Nest #34
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
Treasury diversification led by Galaxy Digital and 1kx 🤝
Hiring a head of analytics 👨💼
MVI Merch 👕
Delegate for DeFi socks 🧦
BED index logo competition 🛌
Index Coop coverage ✍️
Assets under vault: $184.3M (+5%)
Across 4 products:
$DPI: $313.69 (+12.5%) | $ETH2x-FLI: $73.01 (-6.3%)
$MVI: $57.10 (+38.8%) | $BTC2x-FLI: $28.24 (-2.8%)
Index token: $27.15 (+22.8%)
Figures correct as of 11 July (7 day change shown in brackets)
Treasury Diversification led by Galaxy Digital and 1kx 🤝
In arguably the biggest event since the launch of Index Coop, on July 6th we announced the completion of a strategic diversification of the $INDEX in our treasury to a number of top investors.
Totalling $7.7m, this initiative doesn’t just open up access to incredible partners, but also helps us to weather uncertain market conditions going forward. Having the stablecoins in our treasury gives us the safety net to keep on building for years to come at current rates.
Massive congrats to the entire community (cited as one of the big reasons behind some of the investments) for working together to land this!
Hiring a head of analytics 🧑💼
There is a job advert on the forum currently for a position as head of Index Coop analytics. Having been identified as a critical need for our continued success (and linked to a guiding principle of being data driven), the position is being made available and will use a hiring process based on the guidelines set out here.
Applications close Monday 12th July, so candidates are encouraged to submit before then in order to be considered. We will of course look to standout performers in the community first, but nonetheless want to follow a standard process so it can be applied to other positions in the future. Good luck to the applicants!
MVI Merch 👕
Having first joined the Coop after entering the MVI logo competition, Static and Caf (collectively known as The Free And Mad) dropped some fire in the forum this week. A collection of merchandise reflecting their take on the Metaverse, using inspiration from the MVI logo.
The best part is you can head straight to this form to vote for your favourite. After a successful first partnership with MetaFactory, this one is sure to catch a lot of attention and hopefully be a sell-out success.
Delegate for DeFi socks 🧦
If DeFi had one major impact so far, it was showing how incentives can be used in much more powerful and nuanced ways than they have been traditionally. With a renewed focus on improving governance statistics in the Coop then, it was only right that one of our recent Snapshot vote delegators/delegates be retroactively rewarded a free pair of ‘Etherean’ DeFi socks.
In order to be considered you had to have delegated, or received delegated votes, by June 14th. You can check if you were the lucky winner in this forum post. A little alpha here, that I’m sure this won’t be the last time something like this happens…
$BED index logo competition 🛌
With a combined force of something like 8000 participants between the Bankless and Index Coop DAOs, you would expect some serious quality entries for this comp. Scanning through the hashtag #BEDindex there is a fair bit of variation, take a look below.
If you want to check out the entries and cast your judgement, just search #BEDindex on Twitter. Full contest details can be found here, but it finishes tomorrow 12th July if you want to enter in time.
Index Coop coverage ✍️
If you are new to the Coop and fancy a history lesson, or perhaps just a fresh perspective on how we roll, here is some extra content for your enjoyment. First up, Kerman Kohli took the time to detail our new joiner process and cover more generally why he feels IC is one of the most organised DAOs in crypto.
Then, community member Brian Garland put together a great Twitter thread explaining the Coop’s reason for being, touching on all the major offerings we have today.
We always welcome new members to the community, if you like what you see come and join the discussion in our social channels. @darkforestcap