Fresh Owlpha, curated daily. This is @HOWweDAO . (previous issue)
We all $GMI. Kudos to all who had a hand in bringing this index to life. Along with our partners Bankless, crowds packed Twitter Spaces and our Discord to hear all about it, check out the sweet merch, and be one of the first folks to have it in their wallets. Even with a big launch, the Coop rolls on. Gov Ops continues their move into Nest mode, Women + NB of Index are bringing awareness about the Coop and our mission. And while one index launches, another get’s its first chance to shine win with the $MCAP community call.
Friday starts off with LATAM followed by Conversations with the Coop - Dr. Karl & Justin - GridPlus/Phonon DAO join @Crypto_Texan and wraps with the first Owlchemy AMA featuring the Index Coop Technical Nest.
Announcements:
MetaGovernance:
- [AAVE-54] - Risk Parameter Updates 2021-12-29
- [COMPOUND-80] - Update cSUSHI cToken Implementation
- [COMPOUND-79] - Migrate Contributor Streams to Sablier
- [BADGER BIP-80 (a).] - Allocation to Restitution Program
- [BADGER BIP-80 (b).] - Yearly Reassessment
- [BADGER BIP-80 (c).] - Full proposal agreement
Product:
- Are You $GMI? Introducing the Bankless DeFi Innovation Index Lucas Campbell , Ben Giove@LemonadeAlpha
Partnership:
-
BitGo now supporting $MVI, $DATA, $BED in BitGo Qualified Custodial and hot wallets. @Metfanmike
We All $GMI
Launch of Bankless DeFi Innovation Index (1.1K tuned in) Twitter Spaces
The anticipation was building and even a small delay couldn’t slow the momentum around the launch…we all $GMI. A tremendous amount of work put in by the methodologists, Product, EWG, Set, Growth, Design, People and the whole Index community went into this launch it was 
.
The afternoon started off with a banger intro video from Design that must be seen to be appreciated. Everyone from Zeus from Olympus to #FrogNation to your favorite new and upcoming DeFi protocols were featured heading straight to the 
.
Next on the docket was a $GMI Twitter Space hosted by methodologists @LemonadeAlpha and Ben & Lucas from Bankless. A wide-ranging conversation provided a high-level overview of the index and detailed insights about the DeFi 2.0 protocols included in the Bankless DeFi Innovation Index.
Things returned home to our Discord stage where the party continued with some more Q&A mc’d by @TheYoungCrews and @bradwmorris. That $GMI merch, POAP, and potential of some free token alpha had everyone feeling good vibes. A number of incentives for getting your hands on a lot or a little $GMI were also discussed.
DeFi moves fast. We believe DeFi innovation will only move faster in the future. $GMI holders can capture this shift & also get:
- One-click exposure
- Top tokens by market cap
- Gas efficiency vs. buying individually
- Transparent inclusion criteria
I have a feeling we’re all $GMI…what do you think?
I Love It When You Call Me Big POAP-a
Governance Operations WG Meeting (10 attendees) notion
The B.I.G. MetaGovernance power and potential of the $INDEX token is starting to be understood and take hold with a critical mass of Owls and folks outside the Index community. In order to help increase voting via Snapshot for Index proposals and MetaGovernance decisions outside of our DAO, GovOps is looking for ways to incentive token holders. @Static121 stopped by to chat about some of the blockers and solutions available to implementing POAPs for voting and participation in governance.
He, @sixtykeys, and the rest of Gov Ops weighed the potential of offering a bounty to develop an easy to create simple, repeatable, and on-brand POAP creation template. Right now it’s a pretty time-consuming effort and a turnkey solution is still a little out of reach.
@StepvhenH highlighted the number of inbound DAO tooling companies reaching out to People Nest has been growing steadily. There have been some NFT platforms for permissions along with voting governance, including Gateway and ArcX.
There are also some processes and workflow within governance that need to move forward with internally. Anything with a direct impact on the community, like reruns and canceling IIPs, GovOps will seek feedback from the community before making any decisions.
@puncar asked about the current direction and status of the protocol ambassadors initiative. When created in June of 2020, there were people assigned to a number of protocols but the number of people now has dwindled to only 2 or 3. There was an acknowledgment that this program needs to be revisiting in order to clarify roles, and gauge how Index Coop members can best report on and participate in other protocol communities.
With time running short, @mel.eth began a Nest building session that touched on the shift to bounties, increasing the use of Notion in the Nest and cross-Nest collaboration, and GovNest Ops goals/GovNest Growth goals were briefly discussed. A longer more in-depth session about GovOps goals will be booked for an entire hour to make concrete objectives and plans for 2022.
The Year Ahead with WIC
Women + NB of Index WG (14 attendees) slides
The first WIC meeting of 2022 was a chance to reflect on the past year and plan how they’d like to make an impact in the year ahead. @chasechapman laid out some goals and discussion focused on few tings on their radar:
Diversity in Leadership (not just active contributors)
While they’ve made huge strides in making contributors more diverse, the next step is empowering women and non-binary contributors to step into leadership roles in the Coop.
Helping WIC members branch out into other roles in Index
WICWG is a safe space and a place for women and non-binary contributors to start, build a network of supporters, and vibe. But our intent is also to connect people who are interested in becoming contributors – do just that.
Integrating more deeply into People Nest
With the new Index2.0 structure, WIC will sit within the People Nest. This allows us to more deeply integrate our operations with the fantastic work the People Nest is already doing.
@Lfeld acknowledged that it can be hard to get people to contribute who are working full-time and don’t how to get a part-time role. A lot of connections and momentum occur on the live working group calls. So creating new and concrete avenues can create clearer opportunities to contribute.
@catjam provided an explainer of Index 2.0, Nests, Pods and where WIC sits in this reorganization and the opportunities it affords the group. WIC can be a great bridge to attract people outside Index and connect to the larger crypto community.
@rashmiashok11 and @Alks4778 will be hosting a workshop covering the basics of Index products. The goal is to help educate people (particularly historically underrepresented groups) about how index-based products are a great stepping stone to improved personal finance, and the role that Index Coop plays at the intersection of index products and cryptocurrency. @caf will assist with promotion materials.
Curren Dates are 17th - 19th January.
Day 1- The basics of DeFi with Odyssey DAO
Day 2- The fundamentals of Index Products
Day 3- Index Coop’s products and how to invest in them
Events still in the planning stages include: Female Founder AMA w/ Women in Index, Weekly Vibe Sesh w/ Women in Index, and exploring collaboration with web3baddies, Forefront, Surge Women, Next Epoch, and other diversity-focused organizations.
Total Market Cap Engery
Community Call (17 attendees) slides video
Methodologist @JosephKnecht ran the show with an assist from @MrMadila as he went over the Total Crypto Market Cap index token ($MCAP). In summary, The Total Crypto Market Cap index token (MCAP) aims to capture the market capitalization of the entire cryptocurrency market. MCAP achieves this by physically sampling a subset of large-cap tokens.
Total market cap indices are the bedrock of passive investing. There is approximately $2B AUM in centralized large-cap crypto index funds. * However, there are few decentralized total market index tokens and all of them are synthetic. Synthetics have the strong disadvantages of high tracking error, de-pegging risk, and opacity. * By providing a non-synthetic total market cap index, MCAP would address a large segment of the index market and serve as a foundation for future diversified meta-index products, eg, target-risk indices.
Investors, like Raoul Pal and @intothecryptoverse, increasingly view crypto as not just a new technology but an entirely new asset class. Index Coop product surveys have shown that there is market demand for an S&P equivalent, multichain index. This also could serve an important building block for future fund of fund or index of indices products.
The objective of the index is to Capture the total cryptocurrency market with minimal tracking error and rebalancing costs and no synthetics. You can dig into more of the specifics here. The total market cap will be taken from the Chainlink price oracle.
Example composition (as of Dec 2021)
The Path to Contributorship
APAC Tea Time (18 attendees)
The @kindeagle turned into a bit of a night owl and hung with @Louisaraj @pujimak_in @lee0007 and the APAC crew for a Wednesday night/Thursday morning Tea Time.
This session was a Q&A focused on some of the common questions around joining and starting to contribute to Index Coop. A lot of good questions were raised about what those pathways to contributorship are including impression mining, increasing use of bounty boards, and an understanding of APAC’s mandate. While the time zones can be a barrier, there are ways to contribute both to a regional pod and to the greater DAO.
The goals of the sCoop are to help surface some of these opportunities and working with the People Nest we’ll try to build out a spectrum of contributorship and community for Index Coop.
Friday: (UTC/1-hr, UON)
1430 - LATAM
1800 - Conversations with the Coop - Dr. Karl & Justin - GridPlus/Phonon DAO join @Crypto_Texan
2100 - Owlchemy AMA with Technical Nest - @afromac, @DocHabanero , @Cavalier_Eth
Monday: (UTC/1-hr, UON)
1600 - Weekly Planning
2000 - PWG - Underlying liquidity framework presentation
OOO: @alerex Dec 23-Jan 7, @dylan Jan 3-9
Daily Owlpha: We all $GMI!
Hoot!
