Thursday at Index Coop started off with Gov Ops WG sans @mel.eth (who’s wrapping up his tan…I mean DCentral in Miami) Followed by Women + NB of Index & BD Office Hours sharing a time slot. The DWG Bi-Weekly followed them and @Crypto_Texan hosted a Conversation with the Coop featuring Leighton Cusack from PoolTogether. A busy day at the Coop wrapped up with Growth & Marketing.
Tomorrow, @Alks4778 hosts ‘Fridays with the Coop’ over on the Twitter Spaces. So grab your favorite smartphone, earbuds and hang out with your fellow Owls.
No newsletter on Fridays, so if we don’t hear you tomorrow on Spaces, have a wonderful weekend and see you at Monday’s Weekly Standup
- Compound-72: Risk Parameter Updates for WBTC, UNI, and COMP
Product Spotlight & Updates:
- $MVI - November Rebalance @verto0912
- UPDATE IIP-091: Launch the NFT Blue-Chip Index (JPG) @JosephKnecht
How to Create a Quorom
Governance Operations WG Meeting (9 attendees) notion
@Lavi reviewed the MetaGovernance election of @oneski22 & @yuan-han-li (Penn Blockchain) and that they’ve started on December 1. @sixtykeys provided a brief overview of the Index Council election and stated that 96/126 (76.2%) of eligible Owls took part.
Next the topic of circulating supply vs. voting supply was discussed with @jackiepoo and Analytics in attendance. The goal was to find the proper circulating supply and to look for alternatives to Coingecko as a source. @anthonyb.eth created this Dune Dashboard for the treasury and ETH-to10k has created a another query on request:
- 2’181’385 (5% quorum = 109’096) of circulating supply according to Coingecko
- 2’540’749 (5% quorum = 127’037) of circulating supply according to Treasury Dashboard:
- 2’180’845 (5% quorum = 109’042) of votable supply according to the query using INDEXPOWAH to calculate INDEX in circulation
- a) de facto political parties (clusters of addresses that vote together)
- b) a king-making “selectorate”, meaning a group of addresses whose vote makes or breaks the elections they participate in
With this analysis, it’s clear that a number of large $INDEX holders have a large impact on making quorum and deciding the outcome of governance decisions. Instead of waiting for decisions to play out in the vote, the idea of forming a direct link/line of communication with the $INDEX holders was discussed. Discussions between the Wise Owls and these voters may lead to more fruitful decisions and positive outcomes for all involved.
Governance feels overloaded by operational IIPs and it makes more sense now with the Index Council in place to move some of these decisions to them or the Nests to decide. Sending everything to a vote for $INDEX holders is slowing down progress and wasting time that could be used by everyone more productively.
@sixtykeys discussed improving the IIP V3 process. In one of his first Index Coop calls, @puncar jumped in and will help GOWG move to its Governance Nest structure. @StepvhenH was on the call and asked how People Nest could help assist in this transition. @Lavi, @sixtykeys, and @mel.eth discuss and see how much an assist via workshop or facilitator is needed.
Raising the Visibility of Women + NB in Crypto
Women + NB of Index WG (12 attendees) slides
@chasechapman kicked off the meeting recapping the Speed Dating event held by the group two weeks ago. There was a positive impact with people really getting to know their fellow Owls and they’re considering doing something monthly in this format in collaboration with TOC.
@1kx is offering an opportunity to co-sponsor Codeless Connect (a hackathon for non-technical people) on December 11th. So post in Discord will be shared and a decision can be made about WIC’s participation/sponsorship. Noting that it could be a great opportunity to raise awareness of WIC.
@rashmiashok11 & @Alks4778 are working together to create an INDEX 101 workshop covering the basics of Index products (December 21, 22, 23). The goal is to help educate people (but particularly underrepresented groups) about Index products; improve Index product holdings across a more diverse user base. The next steps include an agenda and finding additional speakers to cover the three-day event leveraging the ‘Fridays with the Coop’ experiences. If you want to help organize the workshop and liaison with the marketing, growth, and education pods to make this event a success reach out on wic-public discord channel.
@chasechapman discussed creating a Twitter Space “How to Contribute to a DAO” where she and others will cover the process of how to become a DAO contributor (including some of the challenges, and how to overcome them). Hosting this will generate exposure for WIC to potential contributors and become a resource for those hoping to contribute to DAOs. Those who would like contribute questions or be a panelist, should DM @chasechapman on Discord.
@jujube discussed the WIC Pilot and creating a robust program to serve all levels of IC contributors.
The goal is to provide support from the time they show up in Discord until they are settled into a role within a working group - Incubation, Cultivation, and Acceleration. DRI’s are going into other WG’s to learn task context & figure out what’s best for our members to complete tasks. And she sat in on the Design WG today to learn more and gather context.
Website Launch Just the Beginning
Design WG (11 attendees) slides
@DevOnDeFi got the meeting started by giving a big thanks to @alerex @dylan and @0xModene for pulling together the pieces to get the new website live and looking great. Along with cleaning up a few issues, there are more sections coming in the not too distant future including the: blog; translations for blog and marketing site; technical and content SEO improvements.
Next, the short-term and long-term focus on the Index Coop brand was discussed. The question of how to execute and enforce brand guidelines with a DAO. What is the right balance between letting people create things in the name of Index Coop and when’s the time to reign them in. The goal is to think about this and rationalize the approach during Q1. An informative workshop was floated and @Martin suggested turning that workshop or standalone brand lessons into some video assets for future Coop contributors onboarded would be a use of time. @caf suggested these videos could be created via Loom.
@TheYoungCrews and others discussed the capacity and planning associated with taking on content needs of external partnership campaigns. There was general agreement the larger potential impact a partner could bring would be proportional to the amount of design capacity offered.
The group also discussed the challenges of building a coherent brand with our product branding. Token colors and design are a bit all over the place because there is not a standard way to determine who ultimately decides the final design.
On Crews Control
Growth & Marketing WG (20 attendees) slides
@MrMadila welcomed new Owls on the call and opened up the opportunity for them to shill their bags. Lots of people stacking ETH and BTC…and a few meme coins. Then he jumped into the business of Growth + Marketing.
An overview of November numbers for both input and output of awareness efforts were solid with social media impressions and blog readership on target. The number of website visitors continues to move up and to the right and our social channels are growing - Twitter up 11%
Karma for his constant ribbing of Canada finally caught up with him as his laptop came to a screeching halt. But have no fear. Without missing a beat, we were on Crews Control. After taking over, @TheYoungCrews led us through the deck, highlighting the Dharma wallet relationship and wETH bonus for buying Index products for those US-based.
Wallet addresses are on the increase while N$F is down, which points to the fact of those early to DeFi and whales leaving DPI to chase APY on other protocols. Polygon and cheap transactions have led to steady wallet address growth.
@caf highlighted the growth of the follower counts and the increasing number of impressions generated by the social accounts. Nearly a 60% increase in impressions compared to October.
@DocHabanero discussed an Institutional Business campaign focused on people that aren’t typically on Twitter. The goal is to attract more TradFi people and family offices. Persona interviews are happening from connections made in LinkedIn. @marshmellow is working on an Intro to Defi/IB campaign focused on TradeFi.
A webinar is planned and hope to start promoting it in 2-3 weeks. $GMI is prepping for the launch if DG2 passes hopefully right before the Christmas break. $LDI is looking to be a late January launch.
@dev provided some Design WG updates as stated in the notes above.
@TheYoungCrews has noted an uptick in the number of international contributions within Index Coop and thought it might be good to promote this about our DAO. A short video campaign about buying Index products and highlights our geographic diversity.
Daily TROLLwlpha: "Web3 sounds like bs” - @elonmusk