sCoop Weekly - 2022.05.06

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

icETH on L2

Since launching last month, icETH has successfully added more than $20 million in assets under management. And we’ve had lots of people asking, “wen icETH on L2?”.

Well, icETH is now available on Argent via zkSync. With Argent, you’ll be able to securely deposit fiat from Apple Pay or a credit card to buy icETH safely, and transactions can cost up to 100x less. As a true Layer 2 solution, zkSync provides near-instant transactions via the ZigZag exchange that inherit all the security of the Ethereum Layer 1.

Get icETH on L2

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Thanks to the efforts of the Design, Website, and Content teams, the Index Coop Newsletter is gaining traction and reaching more investors, customers, and web3 converts each week.

Now we’ve got a dedicated sign-up page for the newsletter. So if you haven’t already, subscribe today and pass along the link to those in your circle who’d benefit from this weekly update on all things Index Coop.

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What’s new and in which direction is Index Coop heading over the upcoming week.

Yield Coop

On Wednesday’s Leadership Forum, we went through the numbers and reasoning behind a large shift in our project strategy. Despite our efforts, we have been unable to make thematic index products profitable. Yield products have found product-market fit and will be the focus. For the sustainability of the DAO, we need to focus the product strategy on products that can grow TVL and make a profit.

The silver lining has been that our first yield product, icETH, has found product-market fit and been our fastest-growing product today. At last count, it was over $21 million in TVL on Mainnet & zkSync.

Dig into the slides and tuned for more specifics as we continue to build out this new product strategy.

Collaboration Through Delegation

After communicating with the greater Index Coop community via an Open Letter, Set/1kx has delegated the voting rights of 375k INDEX to the 5 members of the Index Council.

Along with announcing the delegation, @setoshi shared some additional agreements to go along with the previous/criteria previously shared.

GovNest will assist Council in understanding the nuances and gaining context on the details of future IIP and metagovernance proposals so this delegation can lead to success for Index Coop and all stakeholders.

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.

Crypto Events/Webinars
Permissionless - Growth Game Plan
May 16th-19th, Palm Beach, FL
Contact @MrMadila for questions, additional details

Index Events/Media Appearances
Bankless Indicies AMA - Twitter Space with @bgiove @TheYoungCrews
How We DAO GovNest Edition with @chasechapman @coolhorsegirl @shawn16400 @sixtykeys @mel.eth
On The Other Side - Self-expression in web3 w/ @provenauthority @chasechapman

For Season 1, this section will be a place to surface specific talent needs and contributor opportunities for Nests & Pods. Contact @coolhorsegirl or @kindeagle to create a listing.

Bounties for Devs and Growth - Check out Layer3

Talent Needs - Reach out to @bradwmorris/@Lfeld with Community Nest for helping fill gaps in your Pod/Nest

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.

Learn about web3 with Index Coop x dappback

Have a week!