Hello everyone!
It has been a little over 2 months since Titans of Data launched the Data Economy Index (aka DATA Index) via Index Cooperative.
We’d like to share the progress of the product on our key performance indicators, major milestones, and our future roadmap!
Key Performance Indicators
1. Addresses:
There are now 326 addresses on Ethereum mainnet and 100 addresses on Polygon that hold DATA. In November alone, DATA addresses grew 60% on Ethereum mainnet, and 100% inclusive of Polygon addresses.
2. Unit Supply:
Unit Supply of DATA has grown to 21,416 units since launch without any INDEX liquidity mining incentives. In November, DATA Unit supply grew 32%; 6.1% of all DATA units are now held on Polygon, higher than for any other Index Coop composite index product (for context, 3.2% of MVI unit supply is on Polygon), despite only being live on Polygon for a week! This is likely due to the ~25x increase in gas fees since October 2020 (when DPI was launched) to $100 - $200 per Uniswap transaction in November 2021. DATA has grown organically in a very high gas fee environment so it makes sense that we are seeing faster adoption to Polygon than Index Coop’s other products.
3. TVL:
DATA has a TVL of ~$2.36 million. If DATA reached its previous USD price high watermark, DATA would have a TVL of ~$2.91 million.
4. Liquidity:
On the Ethereum mainnet, there is ~$2.1 million of DATA/WETH liquidity on Sushiswap. Users can buy ~$7,000 of DATA at 1% slippage or less on Ethereum mainnet, exclusive of the ~$100 - $200 swap fee in the current gas environment.
On Polygon, there is ~$225k of DATA/WETH liquidity on Sushiswap. Users can buy ~$800 at 1% slippage or less on Polygon with near zero gas fees. Titans of Data is providing ~$100k of liquidity on Polygon.
DATA launched with ~$1.3 million of DATA/WETH liquidity on Sushiswap; with $1.0 million provided by Wintermute and $300k provided to Titans of Data. In the week after launch, Titans of Data increased its commitment to $400k on Ethereum mainnet. DATA’s listing on the Onsen menu attracted a further ~$360k of DATA/WETH liquidity.
We are actively considering options to further increase depth of the DATA/WETH liquidity pool to enable larger trade sizes such as moving liquidity over to an automated liquidity solution like Visor or Gelato on UNI-V3 or Sushi’s Trident when it launches.
5. Social Reach & Brand Awareness:
Titans of Data is generating the research and educational content to achieve the necessary social reach to develop brand awareness for the DATA Index via content shared on Twitter and hosted on our blog.
In the past 3 months, content created by Titans of Data, or created in partnership with Titans of Data (i.e. launch video), distributed via the Index Coop and DATA Index Twitter accounts has generated 93% of DATA product impressions on Twitter.
| Twitter Impressions | Sep 2021 | Oct 2021 | Nov 2021 | Total |
|---|---|---|---|---|
| Index Coop | 559,000 | 520,000 | 826,000 | 1,905,000 |
| DATA Content | 207,000 | 11,000 | 97,000 | 315,000 |
| DATA Content - Growth | 12,000 | 11,000 | 21,000 | 44,000 |
| DATA Content - Titans of Data | 195,000 | 0 | 76,500 | 271,500 |
| DATA Index | 30,000 | 160,000 | 126,000 | 316,000 |
| Total DATA Impressions | 237,000 | 171,000 | 223,000 | 631,000 |
| DATA / Index Coop Impressions | 42% | 33% | 27% | 33% |
| DATA Impressions Driven by Titans of Data | 88% | 94% | 91% | 93% |
The highest performing DATA-specific content on Twitter has been:
- DATA Index Launch Thread - 186k impressions (h/t @seblavoie for an amazing launch video!! Thread and video script created by Titans of Data DAO.)
- Can Brave’s Basic Attention Token Dismantle Google’s Empire? - 76.2k impressions
- The Metaverse is Built on the Data Economy - 62.5k impressions
- Ren x Index Coop Partnership Announcement - 735 engagements (Not Included in Impression Analysis) (Co-written by Titans of Data and Ren Protocol)
- Bitwise Chart on Index Cooperative - 17.0k impressions
- Numerai Report - 15.5k impressions
As a result of our growth efforts, the DATA Index Twitter account has grown to over 1,100 followers in the ~2 months since launching on 9/23.
Post-Launch Milestones
- 9/23 - Official Launch
- 9/24 - ONTO AMA
- 9/28 - Ren Protocol Partnership Announcement
- 9/29 - DATA on Ethereum’s Sushi Onsen
- 10/13 - Conversation with the Coop AMA w/ CryptoTexan
- 10/13 - Sushi Onsen AMA
- 10/13 - Numerai Research Report
- 10/29 - Metaverse <> Data Economy Research Report
- 11/8 - DATA Index Crosses $2 million in TVL!
- 11/18 - BAT Research Report
- 11/19 - DATA on Polygon
- 11/26 - DATA on Polygon’s Sushi Onsen
- 11/27 - DATA on Impermax
- 12/1 - DATA fiat to Polygon onramp via Dharma Wallet
Future Roadmap: Present - Q1 2022
1. December 2021 Quarterly Rebalance:
Titans of Data plans to make 1 token addition to the DATA Index in the December quarterly rebalance.
We plan to include Ethereum Name Service (ENS) subject to feedback from our partners at Wintermute and the Index Coop Engineering Working Group (EWG). ENS has very high DEX liquidity relative to its market capitalization so we do not anticipate any issues with adding it to the DATA Index.
2. Integrations and Extrinsic Productivity:
Chainlink Labs has been working on a DATA/WETH price feed for the past few months. We anticipate this to be completed within the next several weeks, enabling DATA to be listed on the Index Coop Rari Capital Pool (~$4m total supply) and Beta Finance, alongside other Index Coop products.
Titans of Data has also asked ChainLinkGod to consider including DATA in Rari Capital’s Pool 7 (~$90m total supply); he has told us to let him know when the Chainlink price feed is live.
3. DATA Club Research Series:
Titans of Data announced the launch of the DATA Club Research Series with its first report on Numeraire (NMR). We subsequently published a report on Basic Attention Token (BAT). We are currently working on research reports for Ocean Protocol and Livepeer, and intend to publish a research report on Filecoin within the next 2 months.
4. Research Addition of non Ethereum-based Tokens:
We have strong conviction that Helium, Areweave, and Handshake all belong in the DATA Index. Unfortunately, deep liquidity for these tokens does not yet exist on Ethereum. We are currently researching how these tokens could be included in the DATA Index by leveraging our partnership with Ren Protocol. We will not add these tokens until we are confident that user safety concerns have been addressed.
5. Enable Mint/Redeem Fees
DATA passed DG2 with the following proposed fee structure.
This fee structure has not yet been implemented due to engineering constraints in the Index Coop Engineering Working Group, so we launched with a standard 95 bps streaming fee.
Data analysis we’ve done demonstrates that mint/redeem fee implementation should increase annual revenue of composite indices by ~50%. Other methodologists have indicated their desire to see mint/redeem fees implemented for their products, so this engineering improvement should benefit all Index Coop composite index products.
6. Rebrand and Launch the Titans of Data DAO with a Social Token:
We have made a significant financial investment in brand and design efforts for Titans of Data. We have partnered with FLOC, the decentralized design agency behind Metafactory and MetaCartel, to create our brand. We will be launching our DAO with a website and launch video in the coming months.
We’ve also begun developing a data-focused community strategy around a social token. We’ve reached out to Index Coop investor/ partner at @1kx to review and help design the token strategy for our DAO in the upcoming quarter.
Thank you for reading - stay tuned!
