Hello - trying to get a little more involved in the forums - love the idea of a Data Index
Questions regarding RenFIL:
- The methodology for DPI states “The token must be a bearer instrument. None of the following will be included in the index: Wrapped tokens. Tokenized derivatives. Synthetic assets. Tokens that are tied to physical assets. Tokens that represent claims on other tokens.”
- Would we not maintain a similar inclusion criteria for other indices (save BED)? Are we exposing this index to additional risks related to the RenVM?
- Would love to have exposure to FIL in this index, but it just seems complicated without it being an ERC-20 token.
A question regarding Numeraire
- This feels more like a protocol that could be included in the DPI sometime in the future. When looking at how Messari Crypto (Messari.io) classifies Numeraire, its under “Asset Management” and “Finance”. However, Coin Gecko classifies Numeraire as “Business Services” and “Decentralized Finance (DeFi)”. So I guess the “Business Services” classification allow for inclusion in a Web 3/Data Economy Index.
- Just wondering, what is the justification for the Numeraire inclusion
Token Expansion and Market Cap…Cap:
- It would be interesting to consider expanding this to a more general Web 3 type of index and a SQRT MC calculation (similar to MVI), but with a 20% cap.
- If we did do this, to address one of @overanalyser’s comments about the XXI format, it could be something along the lines of W3I or WTI.
- Example with 10 tokens (using Messari’s Web 3 categorization)
| Name | Ticker | Market Cap | % SQRT MC 20% Max |
Units Per Token |
$ Per Allocation |
|---|---|---|---|---|---|
| Chainlink | LINK | $9,302,233,132 | 20.00% | 0.9331 | $20.00 |
| Basic Attention Token | BAT | $923,847,329 | 14.62% | 23.7000 | $14.62 |
| The Graph | GRT | $768,843,562 | 13.34% | 21.6085 | $13.34 |
| Livepeer | LPT | $513,293,355 | 10.90% | 0.4493 | $10.90 |
| Golem | GLM | $263,795,159 | 7.81% | 29.6148 | $7.81 |
| Ocean Protocol | OCEAN | $249,609,973 | 7.60% | 15.3684 | $7.60 |
| Band Protocol | BAND | $222,537,542 | 7.18% | 1.1347 | $7.18 |
| Orchid | OXT | $201,055,429 | 6.82% | 23.1349 | $6.82 |
| Civic | CVC | $153,668,928 | 5.96% | 25.9970 | $5.96 |
| Streamr | DATA | $144,202,248 | 5.78% | 35.4186 | $5.78 |
- Example with 15 tokens (using Messari’s Web 3 categorization)
| Name | Ticker | Market Cap | % SQRT MC 20% Max |
Units Per Token |
$ Per Allocation |
|---|---|---|---|---|---|
| Chainlink | LINK | $9,302,233,132 | 20.00% | 0.9331 | $20.00 |
| Basic Attention Token | BAT | $923,847,329 | 12.48% | 20.2256 | $12.48 |
| The Graph | GRT | $768,843,562 | 11.38% | 18.4407 | $11.38 |
| Livepeer | LPT | $513,293,355 | 9.30% | 0.3835 | $9.30 |
| Golem | GLM | $263,795,159 | 6.67% | 25.2733 | $6.67 |
| Ocean Protocol | OCEAN | $249,609,973 | 6.49% | 13.1154 | $6.49 |
| Band Protocol | BAND | $222,537,542 | 6.12% | 0.9684 | $6.12 |
| Orchid | OXT | $201,055,429 | 5.82% | 19.7434 | $5.82 |
| Civic | CVC | $153,668,928 | 5.09% | 22.1859 | $5.09 |
| Streamr | DATA | $144,202,248 | 4.93% | 30.2263 | $4.93 |
| District0x | DNT | $77,687,139 | 3.62% | 27.9429 | $3.62 |
| Tellor | TRB | $75,070,413 | 3.56% | 0.0811 | $3.56 |
| Radicle | RAD | $24,358,756 | 2.03% | 0.4078 | $2.03 |
| FOAM | FOAM | $11,541,553 | 1.39% | 38.2493 | $1.39 |
| Aragon Court | ANJ | $7,634,683 | 1.13% | 18.2201 | $1.13 |
Regardless, love the idea. There are a lot of projects in this category for which I would like to have more exposure. (LINK, OXT, LPT, ect).