November 2024 Update

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Intro and Background

Index Coop DAO builds onchain structured products and its mission is to make it easy for you to access crypto - no matter your financial expertise or wealth. Index Coop powers index, leverage and yield tokens, which can be found in CEXs, dApps and wallets.

This report aims to keep token holders informed about the latest news, roadmap and significant successes and challenges. It includes a financial snapshot, updates from core teams and the focus for the next month. You can read October’s report here .

Thank you for reading.

November Close

  1. TVL: $95.3m*, +53%m MoM
  2. Monthly net dollar flow (MN$F): -$6.1m
  3. Monthly revenue/costs: $150k/$225k.
  4. Runway: 48 months.
  • Single counted TVL, not double, triple, or other counted.

News From November

  1. Product focus: i) shipped the product roadmap through the end of Q1’25, front-loaded with new 2x ratio, leverage and yield products and backloaded with several product-growth initiatives and infrastructure investments, ii) in the app, the team integrated Coinbase smart wallet login, improved leverage suite charting and kicked off work on UI/UX updates to our Leverage Suite and building a dedicated ‘Earn’ page (both slated for December releases), iii) executed numerous improvements to the v2 api, which improves data availability, adds affiliate tracking for future rev-share deals and also created new api docs for integrators to seamlessly enable any IC products in their platforms, iiii) at the protocol level, the team completed work on an Aerodrome trade adapter (enabling better liquidity on Base products) and deployed the new icUSD ERC20 token on Base (GTM to follow!).

  2. Growth focus: i) agreed a high level deal to integrate icUSD into Mercado Bitcoin’s spot CEX and CeFi app’s earn section (estimated launch Q1 '24) - the first large name deal for icUSD (though there is a smaller deal agreed with Bilira), ii) published and promoted the new roadmap, iii) Jordan appeared on the Blockchain.com podcast, iv) continued to promote the leverage suite via social videos and data-driven posts, v) and finally, the Marketing crew kicked off campaign planning for the ETHBTC and BTCETH ratio tokens launch on Arbitrum in December (hopefully with 2x and 3x cbBTC tokens on Base too).

Focus For December

  1. Lock and sign terms with Mercado Bitcoin re icUSD integration (and hopefully include hyETH and/or a USDT product in the partnership too)
  2. Agree terms for one more large scale icUSD integration (e.g. Blockchain.com), which would mean there’s enough of a story to do a marketing launch for icUSD with Chainlink and Circle
  3. Launch ETHBTC, BTCETH ratio products and hopefully 2x and 3x cbBTC products too
  4. Ship new app updates for the /earn and /leverage sections
  5. Do a marketing campaign for new updates to the leverage tokens and app section

Thank you for reading. A summary of 2024 and look forward into 2025 blog will be published in January.

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Disclaimer

This content is for informational purposes only and is not legal, tax, investment, financial, or other advice. You should not take, or refrain from taking, any action based on any information contained herein, or any other information that we make available at any time, including blog posts, data, articles, links to third-party content, discord content, news feeds, tutorials, tweets, and videos. Before you make any financial, legal, technical, or other decisions, you should seek independent professional advice from a licensed and qualified individual in the area for which such advice would be appropriate. This information is not intended to be comprehensive or address all aspects of Index or its products. There is additional documentation on Index’s website about the functioning of Index Coop, and its ecosystem and community.

You shall not purchase or otherwise acquire our restricted token products if you are: a citizen, resident (tax or otherwise), and/or green card holder, incorporated in, owned or controlled by a person or entity in, located in, or have a registered office or principal place of business in the U.S. (defined as a U.S. person), or if you are a person in any jurisdiction in which such offer, sale, and/or purchase of any of our token products is unlawful, prohibited, or unauthorized (together with U.S. persons, a “Restricted Person”). The term “Restricted Person” includes, but is not limited to, any natural person residing in, or any firm, company, partnership, trust, corporation, entity, government, state or agency of a state, or any other incorporated or unincorporated body or association, association or partnership (whether or not having separate legal personality) that is established and/or lawfully existing under the laws of, a jurisdiction in which such offer, sale, and/or purchase of any of our token products is unlawful, prohibited, or unauthorized). The Index Coop website must be used in compliance with the Terms of Service and Tokens Restricted For Restricted Persons pages.

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