IIP-55: Data Economy Index (DATA)

[NH98]

I would love to see this initiative come to fruition. I won’t repeat everything mentioned by previous replies, but it’s definitely a solid proposal with great potential.

[tgreco]

welcome to the community @ChainLinkGod only right for this topic to be the one in which u make ur index coop debut post

that said, it’s great to see ur words of encouragement on the DATA index and that u too see how much potential it has within the space! very high co-sign for this product that @Thomas_Hepner & @Kiba have been working hard in order launch

[anon10525910]

FYI – The full forum post surpasses Snapshot’s character limit.

I will be removing removing sections and adding to the top of the proposal

The full text DATA proposal exceeds Snapshot’s character count limit. Below is an abbreviated proposal. Check out this forum post to read the full proposal.

[EDIT] for example: DG2: SMI

[anon10525910]

The-below was removed for the DG1 Snapshot vote. These removals represent what is necessary to get under the character limit.

@Thomas_Hepner

“I believe these marketplaces will transition us out of the current era of Web 2.0 data monopolies into a Web 3.0 era of open competition for data and algorithms, where both are directly monetized.”

-Fred Ehrsam, blockchain-based machine learning marketplaces (March 2018)

@Thomas_Hepner

The Index Cooperative now has two index products, DeFi Pulse Index (DPI) and Metaverse Index (MVI) that provide exposure to two on-chain industries, decentralized finance (DeFi) and the Metaverse.

It is time the Index Cooperative had an index for on-chain data economies.

@Thomas_Hepner

“Technology companies are the most valuable companies in the world…You don’t need a middleman to own your data…I think the big tech companies will be disrupted as much, if not even more, than the big banks. And considering those are the most valuable companies in the world, maybe that’s what’s worth paying attention to.”

-Fred Ehrsam, Bloomberg (March 2021)

@Thomas_Hepner

Here’s what @corbpage, Head of Product at ConsenSys Codefi, has to say about the Data Economy Index proposal:

@corbpage

The Data Economy / web3 / decentralized web has increasingly become a focus of our customers, VCs, the media, and even mainstream users (normies)… I myself believe that web3 / Data Economy represents the next big advance in the internet, after mobile, and have worked closely with the Filecoin team to make this a reality over the last few years…the DATA Index solves a real customer need that we’re seeing, and I believe will become super popular as the crypto data economy goes mainstream over the coming years.

@Thomas_Hepner

Author Background and Commitment

Thomas Hepner and Kiba Gateaux are members of a DAO, tentatively named Titans of Data , responsible for the ongoing maintenance and development of the Data Economy Index.

Thomas Hepner

• Won the Index Creative Challenge by publishing Why I Invested in the DeFi Pulse Index and Index Cooperative .
• Gold/Silver Owl (December 2020 - February 2021) ; Helped @jdcook form the Analytics Working Group.
• Creator of the ₿EST Portfolio.
• Numerai Data Scientist (2016) and Numeraire holder since 2017.
• Data Science Manager at PrecisionLender (2017 - 2021); successfully created and launched several data products now in use by some of the largest banks in the world.
• Financial Analyst, Amazon Prime & Kindle teams (2012 - 2015)

You can reach Thomas on the Index Cooperative Governance Forum (@Thomas_Hepner), Twitter, and through his blog.

Kiba Gateaux

• Prev. Full Stack Developer @ Consensys
• Gold/Silver Owl for the first three months of coop and April
• Top degen score
• Link marine since 2017
• Originally proposed DATA Index in October 2020, original concept in June 2020

Korea/China Team

Titans of Data will have dedicated members responsible for sales, marketing, and investor relations in Korea and China. Titans of Data also has connections to top Korean exchanges to get DATA listed in the country.

Voting

Decision Gate 1: TBD

Decision Gate 2: TBD

Notes

• 7/9/2021: Details under the Fees sections were removed to provide clarity that a DG1 vote is intended to signal if DATA is a product the Index Cooperative wants to launch.

@Thomas_Hepner

Product Differentiation

As already mentioned in the sections above, the Data Economy represents an entirely different market from DeFi and the Metaverse. DATA will be significantly differentiated as it is designed to capture data economies across blockchains. In other words, it is meant to be blockchain agnostic over the long-term. We believe that most of the value of DATA is derived from off-chain data assets. For example, the value of Numeraire (NMR) is tied to the predictive performance of the machine learning models submitted by independent data scientists to Numerai’s hedge fund. Because the value of data economy tokens are derived from off-chain data, we believe that DATA’s value over the long-run will be uncorrelated with Bitcoin, Ether, and the DeFi Pulse Index (DPI).

[note on this ^ removing because acknowledges, “As already mentioned in the sections above…”]

@Thomas_Hepner

As of today’s writing, the components in DPI have a combined market value of ~$26.9 billion and the components in MVI have a combined ~$4.1 billion of market value.

@Thomas_Hepner

For instance, Chainlink is the 800-pound gorilla in the room; it’s decentralized price oracles are used as infrastructure by most DeFi protocols, including Set Protocol to calculate NAV issuance.

[anon10525910]

DG1 is now queued** on snapshot to start Tuesday 7/13/21

https://snapshot.org/#/index-coop.eth/proposal/QmSFp29qpcEnzvjr1UhciyVL7No1gMLDwnGLRjiX8448TQ

[Thomas_Hepner]

The Community Call for the DATA index proposal takes place on Tuesday, August 3rd (8/3) at 2:00 PM PST (9:00 PM UTC) time!

Details here:

IIP-55 Data Economy Index - Pre DG2 Community Call

@Kiba and I have scheduled a community call for the Data Economy Index (DATA)! We will have a brief presentation followed by a Question & Answer session for the community to ask us questions and provide feedback. The call will take place next Tuesday, August 3rd (8/3) at 2:00 PM PST (9:00 PM UTC) time. We are hope to see you on the call! Details: Tuesday, August 3rd ·· 2:00 – 3:00pm PST (9:00 pm - 10:00 pm UTC) Google Meet joining info Video call link: meet.google.com/ajp-uvev-yjb Phone…

We hope to see you there!

[matthew.fontana]

Hey @Thomas_Hepner @Kiba

Very interesting proposal and I applaud your vision for creating a serious crypto data index and look forward to investing!

I know I’m biased but I would like to see more exposure to the transportation protocols of data in your index/thesis. IMO data monetisation doesn’t make sense unless it’s supported by a foundation of decentralised data infrastructure. I.e. a new fair data economy can’t be built on top of AWS/Google, etc. New Web3 protocols are needed to properly unshackle the world from the tech giants and the strategic choke points they occupy in Web2.

I recommend considering the Streamr Network as a candidate for inclusion in your index. It’s a decentralised, streaming multicast data delivery network with built in tools for data monetisation (via what we call Data Unions).

We also meet the criteria of your fund, high liquidity (some days >$1B trading volume). And currently standing at about $106M market cap. Awkwardly we also use the $DATA ticker so if there’s a different ticker you are considering, that would help keep things simple, but I don’t think it’s the end of the world either, just something to keep in mind. Unfortunately, after 4 years we are married to the ticker symbol.

I’m head of ecosystem at Streamr, if you’d like to jump onto a call with me, or with some of the founders, let me know. matthew.fontana@streamr.network. I joined your community call, but I am a total newb when it comes to the Index Coop so I didn’t understand the fee structure discussions!

• Streamr Network
• Streamr $DATA

[Thomas_Hepner]

Hello @matthew.fontana - thank you for reaching out! We would would love to learn from team at STREAMR and collaborate!

I am OOO for a wedding (about to board a plane) until next Wednesday so apologies for my curt response. I’ve followed you on Twitter and will DM you there to connect.