What are you proposing?
I am proposing the formation and funding of a Product Working Group for 3 months ending on 30th June 2021.
What is the core problem(s) you want to solve?
The INDEXcoop has limited resources (Capital, Engineering, Marketing, Business Development, Design, Coordination) and a vast space to work in.
We have the capability to launch almost endless index funds, the challenge is to ensure that we are focused on what the customer needs and what the coop can deliver.
[Note, to try and remove ambiguity, I’ll use “fund” to refer to the on-chain structured product and “product” to refer to the wider concept of the WG’s goals.]
Why is this worth addressing today?
The coop’s portfolio has grown from a single fund to four funds (DPI, CGI, ETH2-FLI and MVI) and has an expanding pipeline of products that could be launched. Co-ordination and consideration of the different funds is required as the coop portfolio grows.
How will you address it?
The product WG is a cross-functional hub that focuses on the customer, balancing their needs with the INDEXcoop’s capabilities.
To be effective we need to understand:
- What our customers need (with Marketing and Analytics)
- What’s possible with smart contracts (with Engineering),
- How our products behave/are used (with Analytics)
- How we can ensure they are available to use (via composability, on-chain liquidity and business development)
- How our fund design affects the potential for intrinsic and extrinsic productivity, and our partners ability to integrate our funds. (With Growth and BD)
Ultimately the aim is to create a portfolio of funds that satisfy our customers’ needs and to generate income for the coop.
This working group will do the following:
- Work with potential methodologists to prepare IIPs for DG1.
- Participate in work team assessments between DG1 and DG2.
- Recommend Liquidity mining programmes to support product launch (via IIP’s)
- Make strategic proposals to other DAO’s (CREAM, MakerDAO, Synthetics…) to improve the utility of our funds.
- Fund targeted activities to support fund KPI’s.
[Note post launch there will be some overlap with the growth WG, I think that the Product WG should have a focus on making each fund as attractive to the user as possible (utility and liquidity), while the Growth WG should be focused on widening the funnel and capturing new users]
What impact will this project have?
- North Star: Unit supply growth for each fund.
- Individual product KPI’s
- Monthly growth in unit supply
- Onchain liquidity > $1 m of the fund token (i.e. equivalent to $2 M for a v2 Uniswap pair)
- Monthly reduction in net cost/increase in net profit (i.e. after coop LM) to the coop.
- Dominate AUV compared to competitors
Working Group Leader(s)
Request for funding
- $22 K Leader stipend
- $6 k in April (I will still be working my notice period)
- $8 k in May and June
- Other contributors would receive rewards via the monthly rewards distribution.
Use of Funds:
Funds would be used for leader stipend and I would recommend community rewards for other members of the WG.
Requests for significant coop funds (e.g. 90-day product launch liquidity mining), or other resources to support fund utility or availability (e.g. shorter loopring incentives) would be made via forum proposals.
Organization - How will it work?
What will you be doing?
During the next 3 months, the WG will
- Discuss new fund ideas with potential methodologists.
- Carry out work team analysis of products between DG1 and DG2.
- Draft a white paper on Intrinsic productivity.
- Prepare proposals for other protocols for external productivity/integration (MakerDAO, Synthetix, etc).
How will you interface with the community?
The WG will share status and progress via:
- Participation in the weekly coop planning call.
- Hosting product WG calls every 2 weeks,
- Supporting new product proposal drafting.
- Prepare work team reports between DG1 and DG2.
- Propose IIP’s recommending liquidity mining to support fund launch.
- Maintain a Gantt / roadmap for fund proposal/launch and ongoing management.
- #Product channel in Discord
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!