Fresh Owlpha, curated daily. This is @HOWweDAO . (previous issue)
There was no shortage of meetings on Tuesday as we slowly wind down 2021. A total of 8 Owl gatherings took place on topics ranging from APAC BD next big deals to an in-depth conversation with Vesper Finance.
Who’s ready to part on Wednesday? In place of Leadership Forum this week will be Index Coop End of Year Celebration: Year of the Owl
Announcements:
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VOTING LIVE:
- IIP-118: Priority Hiring Guidelines and directional commitment to the DSM & Airdrop @Pepperoni_Joe
- IIP-117: DATA Revised Economic Proposal - Index Council @Thomas_Hepner @Kiba
- IIP-60 DG2: Launch Llama Diversified Index $LDI - @Llama
MetaGovernance:
- [AAVE-53] Risk Parameter Updates 2021-12-16
- [Balancer] Set up a Structure for Long Term Collaboration with Tempus
Product | Launch | Liquidity:
- Q1 2022 budgeting process for WG’s/Nests @ElliottWatts
- Request for Feedback - Core Tooling Redesign @Hammad1412
Index Coop Holidays
Let’s Talk About CEX
Institutional Business (15 attendees)
While there was no sprinkling of Salt-N-Pepa today, @Metfanmike led today’s call and jumped write into the updates around getting listed on additional central exchanges (CEX). The goal is to secure Tier 1 listings for our products and $INDEX. The first draft of our legal memo has been received and a meeting with lawyers will follow shortly. The overall strategy is to have Index Coop products available at CEXs across the globe and momentum is building. Having already secured Coinbase as a custodian, there could be news of a positive development on this front sooner than later.
@Eric_Tomaszewski touched on the opportunity to create educational content for RIA/FO service providers with some different partners. Getting in front of these folks helps us become the trusted source of information about the DeFi ecosystem and other themes that tie directly into our offerings. Outside of crypto, there’s currently a lack of understanding about who Index Coop is and the value we can provide. Creating educational materials and getting in front of these folks will help us gain additional awareness.
Since the off-chain crypto world had substially more capital than on-chain, we’re considering what a strategy in this area might look like. Nothing ventured, nothing gained. @karlosrios has explored this area and is in the process of writing up a draft.
What’s Your #?
Analytics Working Group (14 attendees)
Index Coop’s Analytics randown the different project they’ve been working on. @jdcook shared that Index Council has been taking a good chunk of his time and has been working on a V2 version of wallet address exposure queries. The current queries are slow and non-optimal. The revamped approach will track the base, liquidity pool, or money market token and the exchange rate between that and the base token. This will allow for 1 token price feed to get to USD. This will help us determine new users are and our retention metrics.
@jackiepoo updated the group about his and @alexwdong’s recent forum post regarding centralization of our governance. Along with that, he’s been working on a Liquidity Pod Manifest with the other members. The rebalancing costs in Balancer is another area he and others are exploring.
@anthonyb.eth has been working on Liquidity Manifest and can’t figure out why target access cost of 2% is the right cost. New Dune user-generated tables and documentation should make writing a lot of queries a lot easier for current workflows and bringing on new contributors to get up to speed. The vision is for it to be very easy to get at certain answers. Some discussion was held around the types of liquidity incentives that are the best long term solutions for our products. @sidhemraj jumped in as Gelato and Visor were brought up and discussed at length as an active manager. The questions was posted whether or not it that makes more sense to bring that fuction in-house to Index Coop.
Owl Levels → Going Neon
Owl Levels Redesign Workshop (32 attendees)
@Pepperoni_Joe led us through a brief overview of “why owl levels” and recap of the takeaways from the first workshop on the subject. The whys included:
- Creating a tangible representation fo the social reputation that underpins communication, coordination & collaboration
- Allow Index Coop to provide non-financial benefits to contributors based on Owl Level
- Enables us to set a robust permissioning for contributer access rights
- Owl Levels will allow for us to reward and build ownership for contributors on a sliding scale
Three key themes were brought up in the prior workshop about what Owl Levels signify and those were Impact, Resonsibility and Trust. Additional characteristics including accountability, responsiveness, consistentcy and ownership were also mentioned.
@edwardk has a very strong connection between Owl Level and compensation. Higher levels should be corellated to higher value and impact provided by that contributor. When hiring, the Owl Level is something he has to factor in and skews his thoughts on the overall compensation package.
Owl Levels & Definitions
Some interactive Owl Level scenarios were presented and Owl voted on the level deemed appropriate for each example. Trying to find a fair, decentralized manner in moving people up and down Owl Levels is a difficult challenge. @Pepperoni_Joe provided an example approach to the allocation of Owl Levels and then break out rooms discussed Pros, Cons, and ways of determining allocation of the different levels.
While most were happy with the workshop and a better definition of the Owl Levels, there were a couple of topics that took over the bulk of the breakout conversation. The first being Coordinape. Our Coopwide Xmas Coordinape brought that system of consensus and compensation into question. Using it with such a large group made some Owls feel like its a popularity contest. There were concerns voiced that less visible contributors producing a lot of value could be unfairly compensated with this tool. Having used it, it definitely works best on a smaller scale.
Finite allocations of Owl Levels and who’s deciding on the cadence of reviews for moving up and down levels was also discussed. Since it’s a system undergoing an overhaul and still being progress this wasn’t overly concerning but definitely these are areas worth addressing.
Wednesday Meetings: (UTC/1-hr, UON)
1700 - Business Development
1800 - Index Coop End of Year Celebration: Year of the Owl
OOO: Leave your holiday OOO here
Daily Owlpha: “ In a real DAO work happens differently. It’s like the difference between a robot and an amoeba — DAOs are like bowls of amino acids waiting for some ribosome to come and stack them into proteins, not like a carefully designed servomotor awaiting its preset electrical impulse. ” - @tracheopteryx
Hoot!