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.