Overview
Keeping up with the progress in a DAO can be hard work! This 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:
Website: https://www.indexcoop.com/
Medium: https://medium.com/indexcoop
Discord: https://discord.gg/8EMHtFndMN
Twitter: https://twitter.com/indexcoop
Weekly Summary
Bounties Program
Maker collateral call and Yearn proposal
Design Jam
Index Coop Guiding Principles
Pool Party
Assets under vault: $32.23m (+42.2%)
Across 1 product: $DPI - $101.98 (+8.5%)
Index token: $8.22 (+6.7%)
Figures correct as of 22nd Nov, (7 day change shown in brackets)
Bounties Program
If you’ve been thinking about getting more involved with Index Coop but don’t know where to start, take a look at the bounties program launched this week. We’re looking to reward talented contributors and grow the Coop community but realise not everyone can commit full time. Core Coop members now have a monthly budget they can allocate to cool side quests and it’s up to the community to get involved.
You can head to this public google doc to check out what’s on offer. If you see something that suits your skills then get in touch with the creator for more details and to get started. Rewards range from between 10-20 $INDEX ($70-$140 at the time of writing) and can be the first step toward becoming a regular contributor.
Maker and Yearn
Remember our lovebirds from last week? Well they’re still flirting with the idea of adding $DPI as Maker collateral and then creating a Yearn vault for extra yield. Avid community member and wise owl Over-Analyser took the time this week to present $DPI to Maker alongside Brian from the Set team. The video from the call and summary is not yet available but I will share it as soon as it is.
The proposal itself is coming to the end of the two week discussion period tomorrow, at which point it will enter the ‘Community Greenlight’ phase (also two weeks) where MKR token holders vote to signal their judgement about onboarding DPI as collateral.
As for the yDPI vault the forum vote is currently 80% in favour, so it has decent support. Don’t forget to vote if you think it’s a good idea, just remember it’s a little while away as we work through the Maker onboarding process.
Design Jam
Starting Monday resident designer @Inje is going to bust out the crayons on live stream for a number of sessions related to Index Coop branding and logo. This has the potential to be very cool and not something I’ve personally seen done before. If you want to catch a flavour of what Inje has been using for inspiration prior to the first session, there is a digital mood board available here.
As always you can find more information and get involved in the related forum thread and discord.
Index Coop Guiding Principles
One of the most important things for helping us move forward as a community is to have a set of values that we can agree on. This week I published a first attempt at what these could be on the forum with a view to getting feedback from the community. The proposal saw input from both @Kiba and @Felix who have previous experience working in decentralised organisations.
There are a number of benefits to having our principles set out like this, mainly that we know what to expect when working in the Coop and have a written record to refer back to in future, helping us to stay on track as we develop and grow. They can also be used as a basis for future developments including a meta-governance philosophy when voting on other protocols, and when building out a signed commitment from our index methodologists.
Pool Party
ETH, DPI and the Index token have all been on a significant price run recently, leaving LPs in the ETH/DPI pool on Uniswap sitting pretty. Thanks to Index Coop member @tompain for coining the phrase Pool Party for when this kind of win-win situation happens.
We always welcome new members to the community, if you like what you see come and join the discussion in our social channels. @darkforestcap