Index Coop - Q3 - April - June - Financial Report
Index Coop Q3 Financial report
The above is a shareable link to the quarterly report
I am pleased to announce the first quarterly report for the Index Coop! The quarterly report takes a deep dive into the Index Coop financials looking back over the last 3 months. The TWG has been actively building out its financial accounting processes and has now largely automated the lift needed to generate future financial reports. Special shout out to @Matthew_Graham, @AcceleratedCapital, @prairiefi especially for his wizardry excel skills, and @caf for her amazing design work!
At a high level, the Index Coop revenue continues to grow across all products. The main driver for growth is the FLI series. ETH2x-FLI revenue surpassed DPI’s to be the key revenue earner during the month of May. Other notable developments during Q3 include the $7.75M USDC treasury diversification raised from key investors such as 1kx and Galaxy Digital. We expect a further $2.25M to be raised during Q4.
Index Coop revenue reached $1M on 19th June 2021 and yearly revenue is expected to be in excess of $2M.
Key Financial Takeaways:
- TVL up 18.3% from Q2 to $164.3M
- Aggregate trade volume up 25% from Q3 on a 7 day moving average basis to $9m
- Total unit supply across all products is up 220% from Q2 to 1,288,844 with the key drivers being MVI and the leveraged index series
- A 32% reduction in MoM Gross Profit was more than offset by a 50% reduction in Liquidity Mining spending
- Total Q3 loss stands at $3M with YTD loss being $5.56M
- Liquidity Mining cost $4.8M YTD
- Contributor rewards up 55.4% from Q2 totaling $619k for the quarter
Thanks to everyone within the community that helped make this quarterly report the best it can be.
For those eagle-eyed number focused owls you will note we are missing a balance sheet and a cash flow statement….these are in the works watch this space.
Please do drop a comment below and let us know what you think.
I find the income statement really useful and return to it often.