Intro and Background
Index Coop DAO builds onchain structured products and its mission is to make it easy for people and agents to access crypto - no matter their financial expertise or wealth. Index Coop powers leverage and yield tokens, which can be found in the Index Coop app and in CEXs, dApps and wallets.
This report aims to keep token holders informed about the latest news, roadmap and significant successes and challenges. In February, contributors continued to execute some of the bread and butter roadmap items, while planning the upgrades to the protocol to enable improved leverage and leveraged yield strategies. We hope to share updates on the high-level plan for the protocol soon, but this is a work in progress with a few knots to unpick still.
You can read the last report here .
Thank you for reading.
February Close (reflecting recent crypto price drops)
- TVL: $54m*, -$39m MoM
- Monthly net dollar flow (MN$F): +$7.4m
- Runway: 24 months.
*Single counted TVL, not double, triple, or other counted.
News From February
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Product focus (via @0xdunerider): i) despite market headwinds, Product contributors continued shipping: deploying contracts for 2x SOL and 2x SUI on Base as well as the upcoming wstETH15x Smart Loop (all of which have launched or are launching the week of this update); ii) Engineering contributors created an adapter for Aerodrome Slipstream and the addition of E2E testing and alerts for the FlashMint SDK led to several ongoing improvements to the FlashMint contracts; iii) contributors opened a PR for FlashMintExecutor, a UniswapX executor that routes fills to a FlashMint contract, potentially opening up new distribution rails for IC’s products; iv) the app continued to slim down (in line with the more focused product offerings) and numerous small improvements were made to enhance usability in the trading app; v) and finally, the Product crew was heads down on protocol and product level strategy - and will be moving into planning for Q2+ and roadmap updates by mid March.
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Growth focus (via @0x_Dev): i) IC launched its first placement in MetaMask Portfolio, in the ‘Sites’ section when ‘All Dapps’ or ‘Trading’ is toggled (screenshot below); ii) the MetaMask referrals have started and are being tracked through the app: they are the No2 or 3 channel now, typically exceeding organic search. A fuller picture of the scale and value of these referrals will be available after a few weeks; iii) a leverage products integration went live with Coin98 wallet; iv) the BD contributors have been working to bring another large wallet integration online: hopefully in the form of either Binance dApp browser, CB Wallet or MetaMask (again, via the Token section of MetaMask Portfolio this time); v) the Marketing contributors promoted the hyETH upgrade on Morpho and BTC2x and 3x on Base; vii) and, finally, Marketing also spread the word re new PnL tracking features in the app.
Focus For March
- Get the plan for the protocol v1 write up ready.
- Optimise the app’s mobile trading experience, especially to better convert MetaMask referrals which are majority mobile.
- Promote the 15x wstETH “Super Loop” token.
- Bring another large wallet integration online.
Thank you for reading.
