Intro and Background
Index Coop DAO builds onchain structured products and its mission is to make it easy for anyone* to access crypto - no matter their 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 September’s report here .
Thank you for reading.
*Except Restricted Persons as defined here.
October Close
- TVL: $62.3m*, -2.5m MoM
- Monthly net dollar flow (MN$F): -$1.95m
- Monthly revenue/costs: $106k/$215k.
- Runway: 29 months.
- Single counted TVL, not double, triple, or other counted.
News From October
- Product focus: i) ic21 and hyETH were rebalanced; ii) after finding some gas inefficiencies in icUSD (due to allocations to Morpho vaults), a research sprint kicked off to plan a fast-follow, more efficient Mainnet or Base native version (we’re leaning towards the Base implementation at this time - and clarity here is needed to help integration partners plan their integrations); iii) work has almost concluded on the new 3-6M roadmap (David, new Head of Product’s largest focus since joining in October); iv) the App Team delivered Leverage UI updates (enhanced charts and optimisations to improve mobile dApp browser integrations) and began work on a Yield UI and Yield api for partner integrations.
- Growth focus: i) we’ve been working with the previously mentioned stablecoin partner to finalise seed, market making support and incentives re icUSD (where’s there’s been some flux and delays inside the partner in October); ii) herding 3-4 major integration partners into line to make icUSD available to their users - Blockchain.com, Coinbase Wallet and Mercado Bitcoin are emerging as the most interested partners (but there’s more wood to chop there); iii) launched the Beginner’s Guide To Leverage video; iv) saw the sponsorship of the Bell Curve podcast go live; v) and the Marketing crew began planning updates to the marketing site and messaging, in lieu of some planned token deprecations and the on-going focus on leverage and yield tokens.
Focus For November
- Finalise what the stablecoin partner is able to do to support icUSD’s launch, then give clear signal to integration partners re steps to go live.
- Agree the first large scale integration deal for icUSD.
- Finalise the three to six month roadmap from David, then socialise with INDEX holders and community.
Thank you for reading.
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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.