Intro and Background
Index Coop DAO builds onchain structured products and its mission is to make it easy for people to access crypto. Index Coop powers leverage and yield tokens, which can be found in the Index Coop app and in CEXs, dApps and wallets.
Focus in May
The focus in May was set around four clear objectives, each aimed at turning recent infra upgrades into visible traction:
1. Spotlight our new Smart Loop & Earn Interface
Market chop finally eased enough to green-light the wstETH15x Smart Loop launch. Growth and Product ran coordinated pushes that put the Earn app’s revamped UI in front of its first real cohort of users.
2. Ship new leverage tokens
The team released uSOL3x and uSUI3x and added the tokens to our Base L2 trading suite lineup.
3. Line up the next wave
Research sprint wrapped on several follow-on product concepts; leveraged XRP has emerged as the June frontrunner, with gold and stable-loop variants to potentially follow.
4. Prove the MetaMask referrals flywheel
May delivered a full 30-day read on our dual MetaMask placements. Click-to-trade conversion held steady, and we’re looking to explore yield-product placements next month.
Thank you for reading
May Close
- TVL: $44.25m*, +$7.24m MoM
- Monthly net dollar flow (MN$F): -$4.4m
- Runway: 18 months, +3 MoM
- Single counted TVL, not double, triple, or other counted. Asset prices, especially ETH, continue to hurt TVL.
News From May
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Product focus (via @0xdunerider): i) Engineering made major improvements to our flashmint quoting UX, significantly increasing quote retrieval speed, transaction success rates and quote spreads; ii) our app-team worked with Growth to ship our new marketing site as well as improved onboarding (via a new modal) for our trade app; iii) we shipped 3x leverage tokens for SOL and SUI on Base network and have continued partnering with the Universal team to accommodate increased borrowing demand created by these products; and finally iv) keep an eye out for leveraged XRP coming to our trade app in June!
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Growth focus (via @0xDev): i) we promoted wstETH15x generally and topping the DeFiLlama leaderboard, before a wider Smart Loops campaign; ii) saw the Binance Wallet dApp integration go live; iii) continued to promote the Leverage Suite, and new SOL and SUI tokens with Universal Assets; and finally, iv) (as alluded to above) we launched the new marketing site focusing on leverage and yield - as a more efficient onboarding funnel to our app. This last project was a major effort across teams and we’re excited to see what the new analytics show re performance.
Focus For June
- Launch leveraged XRP tokens
- Continue to research leveraged gold and stablecoin loop products
- Optimise the new marketing site for any nits, and measure performance (new vs old) referring traffic to our app
- Launch a new placement test with MetaMask, focusing on yield products/wstETH15x
- Engage with community opinions and feedback re INDEX burn test