Hi @BigSky7 @scott_lew_is and @setoshi
I must say it’s fantastic to see dialogue happening and everyone being aligned in wanting to generate solutions to the challenges we face (and hopefully build stronger relationships with our partners).
However, I look at the proposed way forward described above, I just see more of the delays and frustrations I described here.
One of the biggest challenges we have faced (and continue to face) is trying to agree on fee splits etc before we see how a product performs on the market. It’s only then, after we have seen the true costs/income / and work split that we begin to understand our products - and it’s very difficult to reopen the agreements.
While I think there is a shred desire to launch products, I don’t think we have reached consensus on valuing the various parties’ input (from 6 weeks ago and see here, here and here).
By launching further products with the contested 60:40 fee split (albeit with a minor modification re gas costs) we serve to further build the status quo. I should also note that onchain inclusion of gas costs before the fee split is technically challenging given that the fee split is hardcoded and so likely to lead to delays to launch.
I suspect that in 3 months time we will still be having the same debate as to the value-added by the use of the Flexible Leveraged methodology and DeFi Pulses impressive marketing efforts (vs internal methodologies). And we will still be looking at comparing historical data with theoretical models and trying to agree on the split for future products.
We now have the opportunity to do some real-world data gathering and Test in Prod.
Speaking personally, I would like to propose that we:
- Launch two products using the INDEXcoop methodology.
- All income goes to INDEXcoop, and ultimately INDEX holders (including DeFi Pulse).
I believe that we can act quickly and launch products.
Then we can look at real data and compare the different products/methodologies:
- On-chain behaviour
- Gas costs
- Performance
- Management costs
If it is clear that the FLI methodology is superior (i.e generates 66% more income for INDEXcoop), then we can look at licencing it for the two products launched (and agree on a suitable fee spilt based on the comparison).
I’m sure that @Matthew_Graham and the TWG will appreciate having real data to compare and help inform the fee split discussions based on the added benefit of the FLI methodology and DeFi Pulse’s influence on the market capture. Then we can move forward with whichever methodology captures the most value for the treasury and thus for INDEX holders.
So, an alternative sentiment poll:
Edited 26Sept21 to remove reference to problems 