Situation
What are you proposing?
I am proposing the funding of the Analytics Working Group (AWG) for 3 months ending on Dec 31, 2021. This is the third iteration of the AWG. The first two proposals:
What is the core problem(s) you want to solve?
The Coop relies on data to make decisions on product methodology and prioritization, engineering decisions, KPIs, treasury management, growth opportunities, liquidity management, and more. As the Coop grows (both community and products), we need consistent analytics contribution to allow the DAO to operate from a place of objectivity.
Why is this worth addressing today?
The Coop is now supporting 6 products (DPI, MVI, ETH2x-FLI, BTC2x-FLI, BED, DATA) with multiple more in the DG process (iROBOT, iETH, PAY, YHI, LDI) We are on pace to support 10+ products by the end of 2021. The Coop’s near-term priorities are transforming into a product and engineering powerhouse. We are recognizing the importance and urgency of developing a sustainable, long-term liquidity strategy. Active liquidity monitoring and management may be a significant part of that equation. Layer 2’s are also upon us - strategic decisions will need to be made to drive the Coop to prosperity as we layer up. Our Treasury continues to lead the way in active diversification and management. Our Growth engine is constantly dialing in on crypto personas, markets, and opportunities to level up the Coop’s products. Our new leverage index and simple index pods, cross-functional in nature, are becoming vital contributors in the pre-launch pipeline and post-launch maintenance and growth. BD is driving incredible extrinsic opportunities for our products - and is evaluating multiple partnerships and opportunities at any point in time. Analytics can, and should, be key function within each of these initiatives.
The analytics capabilities within the Coop must scale in order to support the Coop through this rapid growth. The Coop prides itself on being data-driven. Data is one of the life-bloods of efficient collaboration and decision making within a DAO. The Coop must operate from a foundation of facts and truth, and the AWG will work to make sure that is always the case.
How will you address it?
Since inception, AWG has been working towards a vision of a central analytics team that is plugged in across all major working groups, pods, and initiatives. Each iteration gets us a bit closer to that vision. This iteration is particularly important due to the 3 “core” contributors being recognized as part of the proposal. Between those core contributors and myself, we plan to work with existing working group and pod leaders to develop a quarterly analytics roadmap - a prioritization of the key initiatives that analytics will support and drive across the whole Coop. This is a critical step for the AWG as we seek to be more pro-active in driving value to the Coop, instead of just being re-active to needs across the Coop. All contributors will work against this roadmap on behalf of working groups, pods, and the Coop as a whole.
It must be noted, that we are a bit late (in terms of this proposal) on our quarterly roadmap. In the future, this will be completed in the final 2-3 weeks of the quarter so that we can present a clear quarterly analytics roadmap every quarter. We are committed to working on the highest leverage projects and strategic decisions.
What impact will this project have?
The AWG is here to support all other working groups and functions in pursuit of impact towards top-level KPIs. Specifically, the AWG will help keep all projects/efforts focused on the North Stars & Core KPIs.
One of the challenging parts of analytics using on-chain data is the shift from user-centered data (in traditional environments) to address-centered data (in crypto environments). By devoting resources to support time and effort to analytics, we can maintain focus on users, our North Star, even when it is not the most natural given the nature of the data. This is critical for the Coop whose mission is to build index products that resonate strongly with specific user segments.
The long-term vision for the AWG, and this iteration is a big step towards that, is for each working group and pod to have a dedicated analytics contributor at their disposal. So all those questions that come up that no one has an answer to right off the bat - there will be analytics support right there ready to dig in - this will impact every group’s decisiveness and confidence, as well as their ability to measure their progress. I believe that this quarter, working groups and pods will feel more supported than ever from an analytics perspective. This cross-functional collaboration is going to unlock synergy.
Working Group Leader(s)
JD Cook (@jdcook)
Core Contributors
@anthonyb.eth (@anthonybowman on discord)
Request for Funding
Proposed Budget
$38,135 + 1,462.5 INDEX
Use of Funds
- Contributor Rewards - $33,000 + 1,462.5 INDEX
- @anthonyb.eth - 225 INDEX / mo
- @sidhemraj - 87.5 INDEX / mo + $3,000 / mo
- @jackiepoo - 175 INDEX / mo
- Part Contributors - $8,000 / mo
- Dune Licenses - $5,135
- $1580 in October (4 licenses)
- $1580 in November (4 licences)
- $1975 in December (5 licences)
The Contributor Rewards for the last three months were:
July: $9,200
August: $14,550
Sept: $16,250
In the middle of Q3 it became clear that the AWG needed to provide opportunities for Core Contributors to take a larger role in the AWG. The AWG has seen 3 core contributors get hired by other DAOs/projects in the past 4-5 months. This budget allows for core contributors to invest more time in the Coop - and the AWG needs that from core contributors. We are currently unable to keep up with the requests and demand for analytics across the Coop. This budget also provides room for the AWG to grow by adding another core contributor and/or multiple part-time contributors. This will enable the AWG to deliver on an aggressive vision for Q4.
Organization - How will it work?
What will you be doing?
As mentioned above, over the next 1-2 weeks, we plan to work with existing working group and pod leaders to develop a quarterly analytics roadmap - a prioritization of the key initiatives that analytics will support and drive across the whole Coop. While the key projects/tasks will eventually will be determined in concert with working group and pod leads, my early inclinations of where AWG will focus its time and efforts are:
- Building and maintaining Coop KPIs
- Building and maintaining new Simple Index KPIs, research
- Building and maintaining new Leverage Index KPIs, research
- Supporting Work Team Analysis with Market Opportunity research prior to DG2
- Liquidity strategy and management
- Index Coop Live Financial Statement
- Business Development analytics dashboard
- Institutional Business attribution experiments
- Growth - personas, attribution, and experiments
- Layer 2 strategy
- Index Coop subgraph (in partnership with EWG)
- Community analytics (discord, forums, etc)
- New product backtesting, simulation
How will you interface with the community?
The AWG will be managed by the working group leader and core contributors. It is likely that core contributors will take natural spots close to specific working groups as a go-to point-of-contact. The AWG maintains a project board showing projects/requests completed, in-flight, or in backlog. Requests can be made by any community member, but will be weighed against other requests and prioritization decisions will be made to determine what is being worked on at any given time.
The AWG, for the first time, is going to start holding a weekly meeting for analytics contributors to sync, discuss priorities, solve blockers, and improve operations. This meeting will be open to any Coop contributor.
Early indications of where core contributors will focus support are as follows (subject to evolve):
@jdcook - KPIs, Liquidity, EWG (subgraph), Strategy
@sidhemraj - Leverage Indices Pod, Product, Liquidity
@anthonyb.eth - Treasury, Growth, KPIs
@jackiepoo - Simple Indices Pod, Business Dev., Institutional Bus.
This is just to highlight the nature of the organizational structure that we are hoping to create, where analytics contributors focus within specific pods in cross-functional manner to drive value.
Looking forward to another quarter of strong growth, both within the AWG and across the Coop!
Commitments
I am committed to Index Coop principles
I am committed to serving the entire Index Coop with my work.
I am committed to open, rapid communication: I know that clear, constant, public communication lifts up the entire Index Coop community. I am committed to this style of communication.
Shared learnings: I will share my progress, learnings with the entire community. I will ensure that anything I create is accessible beyond my own tenure for future generations of Indexers to access & build on.
Intellectual honesty: I am committed to growth and improvement. I am open to feedback and will use feedback to improve my work for the benefit of the entire Coop community.
I am committed to making Index Coop a welcoming, fun, and engaging community to work in!
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