IIP-15 Metaverse Index

Perhaps an exclusive branding partner would not work at this point, but if we’re branding this as an Index Coop methodology, I think it would make sense to take more steps to harden it.

I’ve posited this to DFC, but why not try and actively solicit a group of leaders/thought leaders in this space; Mason et al; to comment on the methodology in order to harden it. We could use this as a template for all community-driven indices going forward, something like Index Coop Open Methodology Standards.

It gives them skin in the game (can reward with a portion of methodologists cut) and gives us cross-promotion. It also gives us more and strong input on the methodology.

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In case folks have missed it, NFTX is currently exploding: NFTX price, chart, market cap and info | CoinGecko.

Good market signal of a core part of this index thesis.

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One week later and liquidity might not be an issue anymore.

As for brand partners, the first that came to mind was Gemini since the have niftygateway and are active in promoting DeFi.

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I was under the impression that @verto0912 and @DarkForestCapital had been talking to a few people and that is how they decided to work with Mason.

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I would also propose that the streaming fee split be set at 100% Coop and that the Coop member methodologists and outside methodologist voices (should we go that route, and fwiw I’m confident we can attach some big names) split a portion (say 15-20%) of the methodologist rewards.

IMO the ‘methodologist’ role is not very significant and shouldn’t receive streaming fees in perpetuity. I’d prefer that the coop offer a healthy INDEX bounty to accepted methods, but then just have the coop manage the index and receive 100% of the streaming fees.

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This is really a separate discussion (which I think we need to have) we community led index funds.

So, I’ve started one:

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just a +1 for using any learnings to product a “template” to iterate on, however this moves forward

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How are the rewards between the Metaverse and existing DPI index going to be allocated? If there’s not enough demand for the Metaverse index might be a drag on INDEX holders.

@kermankohli do you mean liquidity incentives? basically that if more $INDEX is distributed as incentives for $MVI it might dilute the value for existing tokenholders? although I don’t see how that relates to the demand for $MVI.

My view is that this is not a problem. We haven’t discussed incentives for $MVI. There might be some, but there’s also a chance we will let this grow organically in the beginning, given limited underlying liquidity.

At the same time, incentives for DPI are being continuously reduced. Generally speaking, I’m not sure if the market perceives liquidity mining incentives (especially if they are leading to higher revenue down the line) as a negative at this point of the cycle.

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Should liquidity on L2 also be taken into account? Most NFT projects will move there, if not already. GHST has launched on Polygon, liquidity on Quickswap (QuickSwap Info) is 10x the liquidity on Uniswap (Uniswap Info]

Think this is a great idea. I am an owner of some $MEME but it seems tough to bring that coin onto an index without first reaching out to Jordan Lyall and seeing if we would be able to stake MVI for pineapples based on the amount of underlying meme MVI holders own.

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Thats an interesting thought, staking in MEME could be sweet.

Agreed, but I think it’s important to make the staking only based on the actual underlying amount of each token you have. So X amount of MVI has 1 meme, then 5X is the maximum MVI that can be staked for the 5 MEME maximum. I could also see that counter that this is not useful since MEME would be one of the smallest tokens in the pool.

Could also see the same being said for $WHALE. If the MVI index holds say 1-2k whale, then we would be constantly earning whale as part of the community liquidity providing rewards on the WHALE discord. Is there anyway we could pay these rewards out to potential MVI holders?

Apologies if this was already addressed. New to helping out here and these are just what immediately came to mind.

If this goes through, then it’s going to be the second index after DeFi Pulse Index by us?

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Wow, it’s only been two weeks but I think everything on here has at least a +4x marketcap, and more than 4x liquidity increase.

My FOMO on making this index is real :smiley:

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yeah, that screen is from early Jan or December actually. So it’s not even the last screen we ran… it would include many more tokens now, given market caps have blown out.

Right now, a few other proposals are further down the funnel, including:

:heavy_plus_sign:

Is this a resource allocation discussion ?

If so, given how time sensitive this is, how we are loosing market position as we progress at our current rate and the straight forward nature of the strategy relative to DPI, would it not make sense to push through the low hanging fruit.

I can’t help but think Index Coop is loosing market position in a hot space whilst developing less time sensitive products like FLI. Once capital is added to a NFT index is less likely to migrate to another NFT index compared too fresh capital in flows.

Could IC put something on SET, like BED and then get behind it fully. We need to suck in the capital flows which are currently going to competitors. Ref. the 4x price movements and multiple competitors emerging.

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I agree with the timing point by @Matthew_Graham - I think we should try and launch this ASAP. Or at least a Set first. Look at the traction and buzz NFTX is generating. If 2020 was the year of DeFI, 2021 is shaping up to be at least partly the year of NFTs and meta assets!

Can the Sets crew provide their thoughts please? Seems, after any hardening of methodology, access to engineers is the key issue here. @dylan @puniaviision. Would love to know your thoughts - and if there’s appetite to build this, when we should think about it in the year, etc. :pray:

FYI look at this new section on CMC: Top NFTs & Collectibles Tokens by Market Capitalization | CoinMarketCap .That’s more market validation signal.

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