BDWG August Update

Lead: @BigSky7

Core members: @oneski22 @mringz @Matthew_Graham



  • Pursue major DeFi integrations
  • Recruiting and negotiating with external methodologists
  • Growing relationships with major Index stakeholders.
  • Direct sales of Index products to DAOs and other ecosystem partners

Notable highlights so far:

  • AAVE DPI Listing
  • $10.1M DPI purchase by Fei Protocol
  • $41 million of $DPI held on leading DeFi Money Markets
  • Successful negotiations to facilitate the launch of $DATA
  • On-going discussions with all major methodologists
  • Working to further develop relationships between major investors and the community
  • MAI Finance listing of $DPI
  • Purchases of $DPI and $BED from Visor, UMA, and FEI

Q3 Goals

40% of total DPI supply held on leading DeFi money markets

  • Cream = 47,929.41 units (18.974M) = 9.586%
  • Aave = 46,466.37 (18.511M) = 9.352%
  • Cream V2 (iron bank) = 7,608.71 (3.03M) = 1.531%
  • Rari = 3,419.43 (1.36M) = 0.688%
  • Total = 21.157%

$20 million of liquidity on Polygon:

  • Sushiswap
    • DPI/WETH = $530K
    • MVI/WETH = $674K
  • Balancer
    • DPI/WETH/WBTC = $123k
  • Total = $1.327M

$30 million of Index Coop products held by DAO treasuries:

  • Tribe
    • $10.1M DPI
  • Perpetual Protocol
    • $44K DPI
  • YAM DAO House
    • $136K
  • Visor Finance
    • $100K BED
  • UMA
    • $1M BED
  • Total = $11.28M

September Focus:

Complete execution of major Polygon initiatives

Our Polygon rollout has been delayed, primarily due to engineering backlogs with our major partners. In recent weeks we have re-grouped and are working with the necessary parties to fully scale our launch on Polygon. We are striving for 4-5 high-profile integrations on Polygon before the end of September. Specifically launching liquidity mining with SushiSwap. After this liquidity mining campaign we expect to attract liquidity which will position us to pursue three integrations namely Adamant Finance and Pickle Finance Vaults to attract additional liquidity, then listing DPI on QI DAO for CDPs.

We are using our experience with Polygon as an opportunity to guide our roadmap as we prepare to deploy on other scaling solutions (such as Arbitrum and Optimism) and side chains (Avalanche and Fantom).

Streamline Methodologist recruitment and negotiations

This remains a major focus for our working group. We continue to work closely with external methodologists to refine and improve their partnership with the Coop. Over the next month, we will be producing several posts outlining our process for engaging with external methodologists.

We continue to recruit external methodologists and are working with a number of teams to get proposals ready to be launched on the Forums. Most external methodologists are unsure about the steps needed to launch an index and rely on BDWG to help guide them through that process and connect them with the relevant working groups.

Alongside this, we continue to strengthen our relationship with existing methodologists - specifically DeFi Pulse. DeFi Pulse is our most important partner and they continue to help us build tremendously exciting and innovative indexes.

Develop and grow relationships with key DeFi partners, major stakeholders, and external methodologists

BDWG is currently engaged with a number of key stakeholders from across the DeFI ecosystem. These include technology platforms such as Balancer, major venture capital funds, and other protocols.

Direct sales of Index products to DAOs and other ecosystem partners

Since last month, we have put together an amazing small group dedicated to DAO treasury relations. We have 10 ongoing discussions with DAOs about diversifying their treasury into Index Coop products!

Our main goal is to help treasury teams think about diversification. We are highlighting the benefits of passive index management such as liquidity and high correlations to DeFi tokens but smaller drawdowns.

Expansion to Asia Pacific

With the recent growth of the Coop, we’ve expanded our team to Asia Pacific. By having regional representation in investor relations, we started to expand the network in the region and we are slowly building relationships with Eastern Based Protocols.

Message from the lead

"August was an important month for the Coop. We worked through several major challenges and came out far stronger on the other side. Alongside these challenges, we began to see major success across a number of our working groups. Projects that teams have been working on for months are finally starting to bear fruit. Notable highlights include the website redesign and the awesome work that has been happening in growth over the last month. We are truly coming together as a team.

Every month since January has been busier than the last, and in August everything seemed to kick into overdrive across our entire organization. Our weekly schedule has become very packed with meetings across a number of ecosystem partners. Over the next month, a major focus will be refining the processes for organizing and scaling our working group. This includes building out our Notion board, refining the structure of our meetings, and improving our relationship management tools."

If you want to get involved in the BDWG - we would love to have you! A good place to start is by attending our weekly meetings. From there please reach out to myself or any of the other core members for tasks that we need assistance on. We currently need help building out our Notion board and updating our administrative processes.