The Owlbserver : distilled insights on Index competitors - 2022.02.04 Friday

Dear owls,

This is now the 4th edition of the Owlbserver. Before we kickstart with the usual list of curated news from the world of decentralized asset management, here are a few stats that I thought my be interesting to share :

  • The number of projects tracked since the 1st installment mid-January has gradually increased to 37.

  • These projects are deployed on 9 different blockchains, with a significant majority still leveraging the Ethereum ecosystem (under which I include Arbitrum, Optimism and Polygon for clarity).

  • Besides Ethereum, Avalanche is the L1 environment that has attracted the largest number of “native” crypto index projects so far. A reasonable amount of protocols have also deployed on Binance Smart Chain to follow a multi-chain approach, and extend their user base.

  • The Avalanche projects that I’m currently tracking are Index DAO, Kassandra Finance, Cook Finance, Pollen DeFi & Domani Protocol.

  • Among these, Cook is the one that is currently doing best with around 3.5 m$ TVL and a strong bias towards yield-bearing products as we explored already in the previous issues of the Owlbserver.

  • Kassandra adverstise themselves as a decentralized quant fund manager. They just launched their 1st data-driven index (see below), collecting nearly 430 k$ in TVL.

  • Pollen is still in beta & mainly relies on collective intelligence / meritocracy to build performing indices, while Domani have presented an aggressive multichain strategy at the start of the year but do not seem to have a clear go-to-market plan with flagship products just yet.

  • For the records, we’ve now got projects on the radar that are deploying on Solana, Fantom, Terra, Gnosis & Chronos blockchains … The data analysis landscape to follow the number of users, TVL, revenue is still pretty fragmented : fellow analytics & research nerds, we’ve still got a lot on our plate before we can track the evolution of this ecosystem ! :nerd_face:


And now, onto the usual fireworks :fireworks:

Galleon DAO (@Tradespot ) announced their seed round with $1M raised among 1kx, AngelDAO, MEXC, SW DAO, Metaportal and various angel investors.

Babylon Finance have upgraded their native token’s utility & mechanics by introducing ingredients of Curve, Olympus, Tokemak & Yearn tokenomics.

Interestingly, they also seem to have started talks with different partners (Pickel Finance, Harvest Finance or Stakewise) to replicate the same concept with their “official” gardens.

Indexed Finance seem to be working on an alternative L1’s index.

PieDAO are considering the deprecation of 2 of their DeFi indices (DeFi+S & DeFi+L) and the merge of the remaining liquidity into a single product, also absorbing the liquidity from BasketDAO’s $BDI and including new assets in this product that will likely be rebranded “$DEFI”.

Kuiper Finance, a new public & permissionless protocol for the issuance of crypto indices bootstraped by Scott Lewis and a team with no outside venture investors involved, has launched on Ethereum mainnet.

Kassandra DAO have launched the first Avalanche Social Index, reflecting the performance of the most socially active projects in this ecosystem over the past 30 days. The components are currently whitelisted by the protocol itself but they claim this will be open to governance at a later stage. The weights of the index are automatically calculated in accordance with the projects social score determined and imported on the blockchain by 2 external data providers.

Until next time !