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
Maker Greenlight Poll
#indexchallenge
Coinshares Index Vote
(New Section!) Index Insiders - Stateless.money
Assets under vault: $23.60m (+9.1%)
Across 1 product: $DPI: $113.22 (+13.7%)
Index token: $5.20 (+1.7%)
Figures correct as of 20th Dec, (7 day change shown in brackets)
Maker Greenlight Poll
The vote to onboard $DPI as collateral has gone live on the Maker Governance site. It seems someone has an aversion to DPI as within the first hour there were 34,000 votes against the proposal.
So we need your help. If you like the idea of the DeFi token enabling holders to borrow DAI to use elsewhere, and this paving the way for a future Yearn vault, then please do take the time to vote (assuming you have MKR tokens!). This is a really important step when it comes to opening up more uses for DPI across the DeFi landscape.
#indexchallenge
The challenge is live and people are already getting to work.
Think you can do better? Get your video/meme/interpretive dance routine on twitter, follow @indexcoop and tag your entry #indexchallenge for a chance to share $15,000 in rewards.
Coinshares Index Vote
The snapshot vote to approve CGCI-LV has concluded with a majority voting in favour. As part of the recently updated onboarding process the Coop business analysis team concluded their assessment prior to the vote and issued the following recommendation;
Through the reasons outlined above, the Work Teams recommend voting YES. The CGCI-LV adds a diversified product to Index Coop’s current portfolio and being aligned with an organization like CoinShares is incredibly strategic over the long run.
This is great news and an exciting first step to expanding our product line. As Coinshares continue to prepare with the launch of their wDGLD token and related liquidity pool creation, I will continue to post updates here in the newsletter.
You can head here to view the results of the vote.
Index Insider - Stateless.money
Index insider will run for 4 weeks and offers a chance for new members of the community to introduce themselves and answer a few questions about being part of the Coop.
Tell us about yourself: I started in cryptofinance in 2014 after working in economic development in Sub-Saharan Africa and seeing the prevalence of mobile phones yet complete exclusion from the financial system. I’ve been actively following DeFi for the past year but didn’t make many investments because of the complexity of understanding and managing the many promising projects. I loved the idea of DPI as soon as I came across it, and made a significant investment within the first few days it went live.
Are you working on anything within the Coop? I'm happy to contribute wherever the co-op will find value. I think initially, it would be important to help raise awareness with institutional capital.
What is your favourite thing about the community? I enjoy being in a community with so many other people who are simply interested in the long term success of structured investment products for DeFi.
So far we've focused on our flagship product, the DeFi Pulse Index, how do you see it growing from here? I’m excited to see DPI mature into the standard thermometer of Decentralized Finance and to accommodate the many new investors to the space that understand the value of an index investment.
What products/integrations would you like to see? I’d love to see INDEX Coop governance produce products that consider more traditional fundamental metrics (e.g P:E), or dividend-like cash flow.
You can follow Stateless.money on Twitter, Medium and via their website.
We always welcome new members to the community, if you like what you see come and join the discussion in our social channels. @darkforestcap