Welcome to the sCoop Weekly where you’ll get a rundown of the week that was and where the Owls are flying next. Be sure to follow daily and weekly Index Cooperative contributor news on Twitter: @IndexCoopDAO
Last Call for JPG Swag
icETH Up & To The Right
icETH continues to build momentum weeks after its initial launch. TVL has eclipsed $20 million despite ETH being a bit bearish over the last week, including a big $2.7 million buy recently.
We’re only getting started and will have some exciting news that you argent gonna believe next. So stay in zksync for news from our Discord and get ready to share via social.
What’s new and in which direction is Index Coop heading over the upcoming week.
Bridging the Centralized & Decentralized Worlds
How does a decentralized organization sign contracts and perform actions in the real world that runs on fiat? A number of other questions are raised and will be addressed as we determine our options to establish a legal entity for Index Coop.
So why create an entity? First, creating one can provide limited liability protection for contributors. It also
opens the door to more partnerships and off-chain activity with those that will only enter into a contract or engage with another legal entity. Plus, we need to be in compliance and proactive when it comes to applicable tax laws.
The current approach will be to isolate profits in a juridical entity, use the DAO for voting that advises the entity on how to deploy those profits, and ensures the entity is not engaged in a US trade or business for US tax purposes. Check out the slides
HODL Loyalty Program
In collaboration with ARCx, @LemonadeAlpha has been digging into the data and exploring the ways of incentivizing and encouraging long-term HODLing of Index products. The initial offering proposed provides IC product holders a recurring airdrop and additional perks.
So we’re trying to maintain a healthy ratio of Customer Lifetime Value (LTV) to Cost of Acquiring a Customer (CAC). Why might Index Coop use an incentive program? Simple: to increase TVL and revenue. How?
- Acquire new customers
- Reduce churn rate of existing customers
- Increase holdings of existing customers
Check out the video to learn more about this incentive program. Next steps will be collecting feedback before posting to the Forum.
There’s no shortage of industry and educational events in DeFi and crypto. Along with taking part in events worldwide, Index Coop hosts a number of events to help people learn about crypto index products.
For Season 1, this section will be a place to surface specific talents needs and contributor opportunities for Nests & Pods. Contact @coolhorsegirl or @kindeagle to create a listing.
Bounties for Devs and Growth - Check out Layer3
Impression Mining - Help spread awareness of Index Coop with product-related Social, Blog, and Video posts that can earn you $INDEX rewards. Learn more about the program
Something to share with your non-crypto family and friends to assure them you’re not working in MLM or part of a Ponzi scheme.
Have a week!