Index Coop Meme Team

As $DPI accumulates market cap, the fees attributable to $Index multiply. With this in mind, we need to be laser focused on growing $DPI AUM. Currently $Index has a thriving community of contributors who work in many capacities. The experience and energy of these contributors strongly drew me to this community. I am always impressed and a little intimidated when people introduce themselves during our meetings - we are truly building a world class team.

Because so many community members have extremely relevant professional backgrounds (our data analysis team right now would be the envy of almost any public tech company), it can be difficult for members without a technical or professional background to identify ways to contribute. As a community I think it’s important for us to explore more ways for members to contribute in meaningful ways.

Over 75% of our users are small wallets that hold less than 10k. I’m sure many of these small holders are young investors just getting involved in DeFi. They may not have 10 years of professional experience, but they can help move the needle in a big way.

Following the events of last week, we should never again doubt the power of community engagement or viral images. The right meme can drive the movement of millions of dollars. We live in a world where the right meme or campaign could drive our AUM from $100 to $200 million in weeks if not days. How do we find that meme?

I suggest we establish an Index Coop Meme Team and pay creators rewards for memes, and content they create and publish. This will be most powerful if done on a continual basis- we want the investment in community to be accretive not a one time thing. I suggest we form a three person team from our community to oversee and award $ to creators who publicize and build for Index Coop.

The role and function of this team would function as such:

Team has weekly budget of 2k or 5k that is replenished once a week

Community members submit a screenshot of post containing the content they created to meme discord channel

Team reviews memes for veracity and approves payments. I envision the payments being in the $50 to $150 range based on the quality of the work and capped at 2 or 3 payments per user a week. Perhaps every week we decide on the meme of the week and the creator gets $300.

This isn’t a perfect system and I welcome any community input on how to improve it. I think some human oversight makes sure no one is gaming the system. The team would not be expected to do extensive review of all the content, just spot check that its from a real account, not just a re-tweet, etc.

This is a simple and fun way to bring more people into our community. The more community members that are actively helping out the Coop and being compensated for their hard work the better. We want more people to have skin in the game at $Index and be heavily invested in our success.

I’d love to hear the community’s thoughts on this and incorporate suggestions for improvement.

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I could not agree more with this sentiment.

Let me share my Coop experience:

I saw that there was the Index Creative Competition, and I was interested in making memes for rewards. I joined the community, learned all about DPI and INDEX, purchased a healthy amount of DPI, and became an LP.

I made several memes for fun and engagement Index - Album on Imgur. And while I was disheartened that I did not place among the top 15 winners (not even the aggregate!), I was even more disappointed that there wasn’t a single meme, from anyone, awarded INDEX

IMO, spending $100K to get DPI on old-world CEXs and $0 funding our main source of communication is a complete misallocation of funds.

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I also agree on this. There are so many creative people out there.
But also @Uncle point about the cex gets me thinking. Reminds me pumping money into coal or nuclear industry when you can invest in green energy. Hmm.
But I hope we can get set up the team. So that I can follow that stream of memes :slight_smile:

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This might go a little off topic but…

Bull case for DPI on CEXs:

  • DPI geared towards new users
  • L1 gas fees are barrier to entry

Bear case for DPI on CEXs:

  • Underlying tokens change. I doubt US CEX legal teams would permit it on their platforms
  • Conflicts with CEX business model since it reduces number of transactions x10
  • DEXs are the future

I’d rather spend the 100K on incentivizing L2 adoption, or promoting on wallet adoption (which I’m sure we will do anyway).

You might want to give sourcecred a shout and see if it’s something they can automate for us. Should be able to give rewards linked to a hashtag and put in some scale depending on likes/retweets to avoid it being gamed.

I would prefer payment after the fact based on objective metrics that are tracked by a third party tool (like SourceCred). That way, we can set up a budget, and the recipients will be chosen objectively based on quantitative metrics. Much easier to scale this way too imho.

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Hello everyone !

My name is Paul, known around as PVMihalache or Simply PVM.
I am writing mainly on Publish0x, but also on ReadCash and LeoFinance.

Doing memes and content for years and winning competitions is what I do. See an example here:

I would love to be part of your project and the meme/social media team.

Kind regards
Paul Mihalache

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@DarkForestCapital I will give sourcecred a shout and see what they could potentially set up for us. I would love it to be automated in such a way that it would require minimal human input on our end.

@verto0912 I’m agnostic to when we pay them. Fast and scalable is ideal. What do you think a good way to do that is?

@Uncle I 100% agree that DEXs are the future. However, I believe that the vast majority of crypto purchases will take placed on centralized exchanges over the next 2-3 years. The value of top placement on centralized exchanges is two fold. First it massivly increases our AUM which directly translates to profits for $INDEX holders, and secondly it massively increases our brand awareness. If $DPI is a ton 10 coin on Coinbase in a year or two that means massive exposure for the index as well as our underlying products.

My parents, co-workers, and friends may never migrate to L2 and they may never directly interface with the EVM. $DPI means that they dont have too in order to access the same great returns that we do.

@pvmihalache welcome to the COOP and thanks for posting. Those are some fire memes!!! As a meme pro what do you think a good way to structure something like this is?

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I would go with creating some trademark COOP ideas or characters which upon sight will be immediately linked to COOP. Something similar to brand recognition.
Another method I will use will be Twitter activity as a way to gain visibility. Elon posts the lion King meme, we replace the dog with the owl and we comment back.
Quick giveaways will raise the number of followers and more sophisticated competitions will raise the profile

when I think about trying to growth experiments, my mind always goes to, “What is the simplest, fastest way to test things out?”

For this idea, my answer is, “Bounties!”

Since @BigSky7 was a “gold owl contributor” last month, you have the ability to create bounties.

Maybe it makes sense to create a bounty for memes to test out paying folks posting in #memes in Discord as a first & fast step.

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Agree here, think starting small and ramping up is probably the way to go.

@gdocter love the idea of setting up a bounty. That is a great way to get this thing rolling

gme > BTC > Doge > $DPI?

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You are very generous ! 50 -150$ for a meme it’s a lot, especially if it’s not part of a contest where there is more visibility.

Harvest is doing, not so much now, this kind of things. And they use Tips on Discord to tip users when they create cool contents. But then people started to complained because it’s very arbitrary (and prize were much lower). So for 150$ a MEME a can imagine people “fighting”.

It won’t kill to give it a try anyway and see how it works.

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Hi Greg!
Have no clue why I’ve got banned from Discord!
Posted the memes and articles I was asked to do and which Simon seen already and said they are great.
Can you please look into it?

Kind regards
Paul

Hi Greg! Can you please look into why I was banned from Discord

Hey, my apologies, I think I may have banned you by mistake. Can you share your username? I’ll get you unbanned.

Heya!
My username is PVMihalache

Thank you so much for your help

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