Proposal: Robot Index Working Group (RIWG)
Title: Proposal to establish and fund the 1st iteration of the RIWG
Status: Request For Community Feedback
Decision Making Process: As per the latest proposal for the funding of a new WG
Reviewed by: @lavi
Date: 19 September 2021
Should the Robot Index successfully pass Decision Gate 2, I am proposing the funding of a Working Group dedicated to :
- Maintaining the Robot Index methodology.
- Participating in the product’s growth & development, in close collaboration with all the other WG’s.
This proposal covers a period of 3 months, starting 1st October 2021 & ending 31st December 2021.
The Index Cooperative is an invaluable pool of talent and energy. The community’s values and professionalism give unique conditions for the incubation of new product ideas, such as the Robot Index.
However, the current community methodologist setup requires some important clarifications, particularly on the following :
- Does a community methodologist automatically become a full-time contributor of Index Coop ?
- How does a community methodologist prioritize contributions in areas outside of product management against the “normal” index maintenance work, and avoid conflicts of interest ?
- How can a community methodologist be compensated for his work if he’s not a full-time contributor ? How to manage expectations in comparison with external methodologists ?
The proposed framework aims to improve on this and ensure iRobot’s successful launch / subsequent growth, while becoming sustainable and replicable as quickly as possible to allow for new community index proposals to follow a similar path.
While iRobot is approaching DG2, a window of opportunity has opened to implement a 1st batch of changes for Index Coop to expand its internal methodologist capabilities. By doing so, the Coop will re-affirm its position as a top-talented and innovative organization, able to incentivize the internal development of further new methodologies from within the community.
The RIWG will assume the following responsibilities laid out for methodologists in the community handbook :
- Ensure the overall maintenance of the Robot Index methodology (see §3 - Organization).
- Combine marketing & distribution efforts with other Working Groups - including promotion, product development, ecosystem integrations etc.
- Keep all documentation related to iRobot up to date, tracking performance and sending out updates as appropriate.
- Publish reports in conjunction with marketing on Index Coop, iRobot’s target market, competing products, and strategic initiatives related to the Robot Index.
- Stay visible to $INDEX holders and Coop members to answer questions and act as a single source of the truth in relation to iRobot.
From the word go this new Working Group format will provide :
- More clarity in terms of organization and deliverables (both budget & KPI’s directly related to the product’s success + constant reporting to the community).
- More flexibility and potential to learn / iterate (no tie-up with any fixed / unlimited agreement nor any single individual).
The success of the RIWG will have a direct impact on (and be evaluated by means of) Index Coop’s North Stars & Core KPIs : #Holders & #Unit Supply.
@Monportefeuille (Julien I bloom. fi 𑁍#1019)
- Ex-F1 engineer, data analysis specialist.
- Spent the last 2 years developing personal investment strategies based on the same framework used for the Robot Index.
- Joined Index Coop in December 2020 and started contributing on DPI’s performance evaluation against its competitors.
- Have continuously assessed and refined this methodology, its relevance as a product as well as the tools necessary for data processing and backtesting over the last 9 months.
- Committed to working full time on iRobot’s success and growth if it passes DG2 (potentially serving a notice period in parallel with this 1st iteration of the RIWG). My future endeavours may also include the development of bloom.fi as a Coop sub-DAO, specialized in global crypto market research & designed to support projects like iRobot.
4 other community members have expressed interest in bringing their potential contribution to the RIWG (pending compatibility with their actual commitments) : @Lavi, @qomarcrypto, @sidhemraj & @mrvls_brkfst
Maximum 60000$ from the Funding Council for 3 months + redirection of 30% of iRobot’s streaming fee towards the WG’s budget as per the proposed fee structure. The Coop will retain the rest (70%) of the streaming fee as well as the methodologist bounty for all other budget lines falling outisde of this Working Group’s scope.
- Leader stipend : for this 1st iteration, a 2-layer system is proposed with a fixed base stipend of $6000 / month + a variable bonus of $1000 / month per $5m AUM, capped at $10000 / month (no one-off bonus). Below is an illustration of how this system is intended to work based on AUM :
This system is intended to cover all activities undertaken to kick-off and lead the iRobot WG, while incentivizing the efforts directed towards rapid and constant product growth and keeping in line with the current practice across existing Working Groups.
Contributor rewards : maximum $10000 / month - this is an estimated budget to attract and retain consistent talent in the areas of operation of the RIWG (see §3 - Organization).
This budget might also be cross-shared with other Working Groups to commission specific projects participating to iRobot’s development (eg. analytics dashboards, advertising campaigns, partnerships etc.)
The Robot Index is a complex product which requires intensive market research, data processing as well as a creative marketing approach to make it understandable and enticing to the largest possible audience. The RIWG will be structured around these core missions :
- Market research : identify candidate tokens responding to the base selection criteria outlined in the methodology, conduct due diligence on regulatory / security matters and liaise with project teams where appropriate to ensure a smooth product integration.
- Data analysis : maintain and develop the tool suite to ensure a reliable and scalable processing of the key metrics used to determine the index composition, monitor on-chain liquidity to ensure frictionless additions / removal / rebalances.
- Marketing & growth : liaise with the relevant WG’s to ensure a successful launch & develop impressions / conversions, maximize presence & reach on social networks (dedicated Twitter account already up and running), produce educational content around the product itself and crypto portfolio management strategies in general.
- Product development : liaise with the relevant methodologists to explore iRobot’s integration in Index Coop’s current / future product suite (potential ideas : FLiRobot, LDI, SODA …) as well as other DeFi protocols. Pursue the development of our multi-chain infrastructure to allow the integration of more candidate tokens in iRobot’s composition.
- Weekly Standup Updates
- A representative at the majority of the other regular meetings
- Monthly community call + AhHoc as required
- Robot Index KPI update in Monthly and Quarterly report
- Publication of all expenses and contributor rewards
- #irobot-discussion channel on 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 !
- FOR initiating the RIWG should iRobot pass DG2
- AGAINST initiating the RIWG should iRobot pass DG2