IIP: 186
Title: Deprecate the Index Coop Large Cap Index (ic21)
Status: Proposed
Authors: @MrMadila
Reviewers: @dev
Created: 14th Oct 2024
Elevator Pitch
The Index Coop Large Cap Index ($ic21) has unfortunately failed to find significant product market fit (PMF) despite reasonable attempts to grow and market the product. It has also been beset by technical issuance and redemption issues related to the 0x RFQ service outside of the Index Coop and 21.co’s control despite efforts to resolve them. The Index Coop DAO therefore proposes to deprecate the product.
Specification
Rebalance ic21 into 100% WETH to enable gas efficient and seamless redemption for existing holders.
Allocation as of 14th Oct 2024
On 24th Oct 2024, trigger a protocol rebalance auction with the wrapped assets provider 21co to sell all underlying components for WETH. WETH is the recommended base asset due to being the most liquid asset on the native chain (Ethereum Mainnet). Existing users will be able to easily and efficiently redeem their units for WETH via the usual Index Coop App site.
Voting
FOR: Discontinue the ic21 product and rebalance ic21 to 100% WETH
AGAINST: Continue the ic21 product
