IIP 168: Spin out the JPG NFT Index Token to MoonRock

Product Products
1

Authors: @JosephKnecht, @afromac

Reviewers: Index Council

Simple Summary

Index Council has proposed to spin out the JPG NFT Index Token to MoonRock. Spinning out JPG will allow Index Coop to focus on its core product strategy and give JPG greater flexibility under a new owner. Holders of JPG will not experience any change.

Next Steps

  • The ownership of the smart contracts for JPG will be transferred to MoonRock.
  • IndexCoop will update all of the portals, eg, CoinGecko, CoinmarketCap, TokenSets, Etherscan, Argent, Zerion, IndexCoop pages, etc.
  • All future product income (i.e., 100% of the streaming fee and mint/redeem fee) will accrue to MoonRock.
  • MoonRock will manage JPG on Argent.
  • The Collectooors NFT contract will also be transferred to MoonRock.
  • Support for JPG and Collectooors will move to the MoonRock Discord.
  • Index Coop will make social media announcements about the handover.

Overall the Index Council thinks this is a good outcome that will allow the DAO to focus on its core products.

Voting

FOR:

DO spin out the JPG NFT Index Token and Collectooors NFT contract to MoonRock.

AGAINST:

DO NOT spin out the JPG NFT Index Token and Collectooors NFT contract to MoonRock.

9 Likes
2

I am support with this decision. It’s what best for everyone and indexcoop.

3 Likes
3

This IIP is queued for voting to begin 2022-10-31 @ 1800 GMT

https://snapshot.org/#/index-coop.eth/proposal/0xa2c72b59271bffc638960e71569721b31b989ec428bf8ad50d91196409149d7d

4

This sounds like a good idea and @JosephKnecht described this well last week in CoordiNative Species. For a complete picture, is it possible to provide a snapshot of the asset performance over the past few months (income/expenses)?

2 Likes
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The product revenue for all of Index Coop’s products including JPG can be found here:

JPG had no rebalancing and no Liquidity Mining Incentives so no gross expenses.

3 Likes
6

Support this move.
Call me pedantic, but despite the IC disclaimer I’m going to red-flag the use of the term “investor” on that dashboard. Holders?

5 Likes
7

Good flag @lee0007. I will share with analytics team and see if we need to update that.

1 Like