I am taking some inspiration and expanding on the excellent work done by @mel.eth with the daily newsletter. I realize there is no clear and concise information regarding what is going on in the Coop in terms of Governance proposals. This initial post seeks to rectify that by summarizing all information regarding governance into one weekly post; the focus will be proposals going to Snapshot, as well as those that have passed Snapshot. The aim is to inform all community members of what happened in the previous week and bring them up to speed on proposals set to go live in the upcoming week.
My goal is to get as many community members as possible involved in the governance process, as it is we who run the Index Coop and therefore should have a say or, in this case, a vote in all things regarding the direction of the DAO.
IIP-075 - Web3 Engineer - Full-Time offer (Proposed by: @dylan, @darkforestcapital, and @jdcook)
After having reviewed the applications for Web3 Engineer, @0xModene was offered a full-time position for the role.
Web3 engineering is an umbrella term for integrating smart contracts with user interfaces. It is a significant part of what the Index Coop produces. Having a dedicated & sustained Web3 engineering expert in-house has been identified per hiring guidelines as a critical need for the Coop. @0xModene emerged as a clear leading candidate, having demonstrated the ability and determination to meet the hiring goal outlined in the scorecard.
Snapshot Date: Monday, August 30th, 2021 [6 PM UTC]
Quorum: 99,611 INDEX
This proposal seeks to redirect the revenue streams generated by the FLI product offering from the Treasury Account to the Operations Account.
There is currently no reason for the Treasury to hold FLI as the Treasury does not intend to be an active short-term trader. Therefore, TWG believes the prudent approach here is to swap the FLI products for ETH. Given the current developer workload, the TWG opts to perform the swap transactions manually and periodically after the Operations Account receives the fee income. For now, the manual lift to complete these transactions is low, and TWG also benefits from building a track record of managing the community’s capital.
IIP-079 - Authorize the Operations Account for Aave, Balancer, Compound, and PoolTogether Strategies (Proposed by: @AcceleratedCapital and @prairiefi)
This IIP will make the stable coin reserve within the Operations Account productive by authorizing the Treasury Working Group to deposit stable coins held within the Operations Account into Aave, Balancer, Compound, and PoolTogether.
This proposal allows the TWG to deploy the stable coin provided by IIP-70 from the Treasury Account into productive use. The TWG seeks to deploy these assets productively within a limited number of protocols to earn income for the Index Coop, demonstrate competency, and earn trust to deploy a more significant percentage of treasury assets in the future.
IIP-078 - DG1: Launch The Yield Hunter Index ($YHI) [Proposed by: @overanalyser]
Decision Gate 1 (DG1) is the first of two votes required for new product onboarding to the Index Coop. A passing vote here signals the Index Coop’s intent to research further the Yield Hunter Index’s feasibility resulting in a product prioritization score.
This proposal aims to create a diversified crypto fund of ERC20 tokens that have the opportunity to capture yield in addition to the underlying token price exposure; stable coins and L1 tokens excluded. Many potential users of our products have stated that lack of income generation is a negative when considering a purchase, and YHI aims to fix that. YHI will be an Index Coop methodology maintained by contributors.
Please leave feedback if this is useful! I would also love to hear any thoughts and suggestions. And @mel.eth, hoping we can get these updates on the @HOWweDAO Twitter.