- The Investment Committee was initiated as an experiment within the Growth Working Group 1 with a great vision and high potential
- It soon developed good momentum and positive feedback, but went into a “pause” mode over the last two months. With this post, I’d like to propose a few changes to the IC in order to revive its original vision
- I propose to follow a similar approach as pioneered by the Growth Working Group I, which created a lot of momentum and onboarding opportunities for new community members
- This should be beneficial for the Coop in a few ways. First of all, we want to create great content and increase our marketing funnel. And secondly, we want to focus that content on our underlying assets, to also strengthen the relationship with the underlying projects
The focus of the Investment Committee is on creating Index Coop-branded investment content, covering general investing, the underlying assets in Index Coop products (incl. their governance structures), and the benefits of Index Coop products.
We want to build a brand-awareness reflecting competency and become a well-known contributor to the wider DeFi and crypto ecosystem by publishing useful content and learning material.
Problem - Time & Resource Constraints
Since the inception of the Investment Committee in January 2021, two articles about the underlying tokens were released (introduction on Comp and Aave), a risk return analysis, plus a few other publications (Meta Governance, DPI monthly, etc.) went out. However, this was mostly done in January and February, not much was released since then. We discussed this in the weekly Investment Committee call, and we agreed that the main root-cause is time constraints of IC members. Many contributors are highly involved in other tasks (e.g. community methodologist, treasury, org, etc.).
In addition, writing deep-dives or becoming a token expert is time consuming and requires deep knowledge of the crypto space. At the same time, there are many other (more) attractive or more important ways to contribute to the Coop, which lead to high opportunity costs when writing for the Investment Committee.
Hence, we need new talents, because our resource-pool of owls (referring to long-term contributors) is limited and they are often swamped.
Solution - Investment & Research Committee (IRC) V2
I therefore want to revive the Investment Committee by forming a new iteration, which is more focused on open participation, onboarding new talents and providing a structured process for contributors.
I do not yet propose to form a sponsored working group with a dedicated budget, for purposes laid out below.
What do we do?
The original vision does not change. The goal of the IRG is to create content about:
- Underlying projects of the $DPI (and other indices)
- The Index Coop and its products
- Crypto and DeFi in general
Recent discussions around content have made clear that we need a strong focus on impressions/ marketing, and that the content of the IRG should be created with this in the back of the mind. Therefore, we’ll work closely with people involved in marketing and other content activities.
How it’s structured
The idea is to continue with an informal working group for now. The structure is inspired by the growth experiments used by the Growth Working Group I:
- Writers and analysts propose articles they want to write
- A selection of topics is provided for writers who are not sure what to write about
- Rewards will only be paid out with publication of the article (similar to growth experiments)
- The main forum will be a weekly or bi-weekly call and Discord, where we discuss progress, ideas, allocate the work, and analyze what worked well. Plus 1:1 calls to onboard new joiners
- KPIs are # of impressions (substack/ twitter/ medium) and website clicks through articles (Google Analytics)
Expected benefits for the Coop
The positive feedback we received in January and February was great and encouraging. If we can get this up and running again, I imagine the following benefits:
- Create awareness of Index Coop products through informative content (marketing)
- Build internal knowledge about the underlying projects and DeFi/ crypto in general and spread information (create great content)
- Knowledge funnel for new people → IRC as a career starter to join the Coop (similar to Messari)
- Establishing strong relationships with underlying assets and other entities in the crypto ecosystem (partnerships)
- In the future: Support the Index Coop in its Meta Governance duty as informed meta-governor’s/ambassadors (look for forum post coming soon)
Rewards are always a delicate topic and I’d like to get the community feedback before proposing any numbers. Furthermore, this should come with better experience of what works well and what not. But currently there are still some questions that need answering first, e.g. how do we reward (only per impression or per #words / quality), how much (pay per word), how to assess quality, etc.
Hence, I propose that for now the rewards will be done separately by the treasury team according to the same principles as before. However, creating transparency and potentially a framework for rewards in the near future is on the backlog.
In order to achieve our vision, I imagine the following roles are needed:
- Lead / co-lead
- Research Analysts - anybody who wants to write great content can propose to write an article
- Reviewers / linguists - anybody who wants to review and help improve great content
Tasks for the lead
While this is not a fixed book-of-work and doesn’t need to be done by just one person, these are some tasks to be tackled by the ICG lead / co-lead:
- Decide which content will be published (in agreement with marketing content team)
- Manage content pipeline and publication (e.g. notion board / substack)
- Provide support during “onboarding process” by inviting each new-joiners on a 1:1 call to explain how we work
- Support authors during the writing process, i.e. connect them to reviewers, provide framework for content and publish on substack / medium
- Lead / Co-lead will work as a proxy for the meta-governance and marketing content group
- In a later stage: Create fair and transparent reward framework for contributors, together with the treasury team
- Yes, the IRC is something we should keep and fund
- No, the IRC is not necessary and we should park it for now
- Collect and implement feedback
- If we proceed, work out reward framework and collaboration platform
- In the meantime, continue working on the introductory articles
- Attract talent by offering to work with the best community
- Create high-impact content