# IIP-186: Deprecate the Index Coop Large Cap Index (ic21)

**URL:** <https://gov.indexcoop.com/t/iip-186-deprecate-the-index-coop-large-cap-index-ic21/4830>\
**Category:** Products\
**Tags:** ic21\
**Created:** [15 October 2024 10:00 UTC](https://gov.indexcoop.com/t/iip-186-deprecate-the-index-coop-large-cap-index-ic21/4830 "2024-10-15T10:00:27Z")\
**Posts on this page:** 3\
**Page:** 1

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**Author:** ![MrMadila](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/mrmadila/32/4002_2.png) [@MrMadila](https://gov.indexcoop.com/u/MrMadila)\
**Post date:** [15 October 2024 10:00 UTC](https://gov.indexcoop.com/t/iip-186-deprecate-the-index-coop-large-cap-index-ic21/4830/1 "2024-10-15T10:00:27Z")

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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](http://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

 ![](https://canada1.discourse-cdn.com/flex027/uploads/theindexdao/original/2X/1/18e38d548ccffc060e67dfba6191f8c5637c5b7f.png)

On 24th Oct 2024, trigger a protocol rebalance auction with the wrapped assets provider [21co](https://www.21.co/tokens) 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

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<div class="post-metadata">

**Author:** ![MrMadila](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/mrmadila/32/4002_2.png) [@MrMadila](https://gov.indexcoop.com/u/MrMadila)\
**Post date:** [21 October 2024 11:01 UTC](https://gov.indexcoop.com/t/iip-186-deprecate-the-index-coop-large-cap-index-ic21/4830/2 "2024-10-21T11:01:35Z")

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The [snapshot](https://snapshot.org/#/index-coop.eth/proposal/0x4b118248a8c7a147c680db1aaa4542c8177acea5e2503a52aca4a7b5ff3f7040) vote is now open for the next ~48 hours.

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<div class="post-metadata">

**Author:** ![MrMadila](https://yyz1.discourse-cdn.com/flex027/user_avatar/gov.indexcoop.com/mrmadila/32/4002_2.png) [@MrMadila](https://gov.indexcoop.com/u/MrMadila)\
**Post date:** [23 October 2024 12:09 UTC](https://gov.indexcoop.com/t/iip-186-deprecate-the-index-coop-large-cap-index-ic21/4830/3 "2024-10-23T12:09:56Z")

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The [governance vote](https://snapshot.org/#/index-coop.eth/proposal/0x4b118248a8c7a147c680db1aaa4542c8177acea5e2503a52aca4a7b5ff3f7040) is now closed with a unanimous decision to deprecate ic21

 ![image](https://canada1.discourse-cdn.com/flex027/uploads/theindexdao/original/2X/4/43c21299bdd9129ed3cae92a928c21a933e851d1.png)