We’re celebrating the successful launch of $GMI and excited about how we’ll adjust launch tactics in the future. The week kicked off with the Weekly Standup followed by with an update on Product Underlying Liquidity.
Three meetings happen tomorrow. One on Google Meet: APAC’s Biweekly Sync and two on Discord: F.Nest’s Money Talks and TOC Tea Time.
Product | Launch | Liquidity:
Weekly Stand Up (40 attendees) slides
@anthonyb.eth kicked the year off with some core KPIs from last week: AUM and revenue felt this week’s blow to crypto, both significantly down (-18.2% AUM and -41.7% revenue). N$F is up this week massively due to ETH2x-FLI. And ending on a high note, $GMI has created $1600 in revenue so far.
@sixtykeys gave us the update on GovOps, which celebrated the migration to the new governance forum structure last week. As for this week, votes will be queued up for tomorrow and a workshop will be held on Thursday, the 13th. Shoutouts go to @kindeagle for leading the $GMI meta-governance conversations (and making some quality memes) and to @Elmit for taking the lead on Snapshot POAPs. Be on the lookout for new bounties hitting GovOps’s Notion page this week.
@bradwmorris and @Pepperoni_Joe double-teamed updates from the People Nest. They’re celebrating the team effort involved in the $GMI product launch and the first AMA series with @afromac, @Cavalier_Eth for their work on the workshop! The group has also secured two partnerships, one with Surge Women on the workshop and one with web3 baddies on Twitter Spaces.
@DocHabanero and the Product team is excited about the relayed steady movement for products throughout the launch process, with $MATIC-2x-P and $LDI on track to launch in January. (See Product Onboarding Tracker.) Some things to check out: $LAYER2 by L2 Beat has been posted to the forum and will be discussed in a call on Thursday at 18:00 UTC. Forefront Social Token Index will be up for DG1 vote by tomorrow. And $PAY WTA is posted.
Lots of shoutouts this week from Product. The $GMI launch was successful! Thanks to @lemonadealpha for being a rockstar methodologist and to the Liquidity Pod and @overanalyser for providing some last-minute liquidity; slippage was fantastic and as a result, we are seeing the volume that we are looking for. Cheers to the Growth team as well for trying out some new launch tactics including the associated $GMI hoodies (that launch tomorrow) and single-sided staking (that launches today!).
Automated Indices has a few announcements: IIP-119: Launch iMATIC, iETH, iBTC and BTC2x FLIs on Polygon passed DG1. Launch prep for MATIC2x and iMATIC has begun.
@edwardk and the Engineering Pod is also satisfied with the $GMI launch. They’ve added support for Uniswap v3 fee tiers to the Liquidity Analyzer. They’re working on rebalances: BED is completed, DPI is ongoing, and MVI and DATA will start today or tomorrow. Other projects being worked on include the 0x API Exchange Issuance, Redesign for app.indexcoop.com and executing IIPs 64, 72, 116 and 117 which all involve upgrades to smart contracts. Additionally, they’re temporarily pausing the Wizardry program to focus on the most consistent contributors.
Growth and Marketing reported the success of $GMI through a few stats: $GMI made the Bankless newsletter and a Defiant article and made 272,000 Twitter impressions. They’re looking forward to a new Socials Strategy, including two months of video content, a cross-posting plan for Twitter, Instagram and TikTok and a new SEO checklist. @Static121 explained an opt-in community ‘tweet-bomb,’ a strategy we’re going to attempt to start using beginning with the launch of the $GMI hoodie tomorrow. Basically, small clusters agree to heavily engage with a Tweet as soon as it is posted. When everyone likes and comments to feed the algorithm. This spike in traffic gets the post marked as highly engaging which hopefully results in it gaining more organic traffic.
As for Design, @Static121 informed us that the weekly YouTube videos begin tomorrow. A few details on $GMI hoodies: Pay .1 ETH and get 1 hoodie, 1 $GMI and 1 NFT linked to the merch. And shoutout to @bradwmorris and @metfanmike for submitting A1 design requests; reminder that they should include: dimensions for assets, context for how they will be used and examples of what they’re looking for and enough time in advance.
@Mringz from BD announced the BD Strategy forum post to be published this week. They’re also celebrating Universe Finance to support all IC products with incentives. And VESQ Forum post to buy $50k $GMI live in their forum; go support here and thanks @oneski22 for coordinating that.
@Metfanmike had some updates in Institutional Business. BitGo’s announcement that it now supports Index Coop’s full thematic product suite (MVI, DATA, BED and DPI) went live. Upcoming events include the OnRamp webinar on January 26, BitGo co-hosted DeFi 101 webinar on February 2 and the CFA Institute webinar on February 10. Additionally, the first of two HeightZero articles went live. Shoutout to @fallow8 for his massive contributions to IC; it’s a bittersweet farewell as he leaves the Coop for a new job in DeFi.
@ElliottWatts reported on F.Nest from a pre-recorded video; they’ve provided liquidity for $GMI and received funding from the treasury for the investment account. As for the January budget roll forward, check the forum if you want to change how you are paid. They’re working on an IC-wide budget for the year with hopes to publish in the next few weeks. Finally, thank you to @Matthew_Graham, @PrairieFi, @Hammad1412 and @tradernoah for their help in ops account transactions for $GMI.
Product Underlying Liquidity
IC’s mission is to make crypto investing simple, accessible and safe. A key way we simplify our products is in the seslection of underlying tokens and appropriate weights. @overanalyser presented on underlying liquidity to share information on how the liquidity of underlying tokens impacts the behavior of IC composite products. He has created a framework for IC’s methodologists to work from regarding (1) token inclusion, (2) max number of trade per rebalance, (3) impact of underlying liquidity on deviation from NAV (4) setting trade size (balance of AUM and gas costs), and (5) DEX availability and stability. Keep in mind that the framework is a work-in-progress.
In the future, the Liquidity Pod plans to look at a calculation of historical NAV decay per product (ETH2x-FLI NAV Decay is in progress here), modify methodologies to reduce turnover, add more DEXs to the available list, review recent rebalances for actual AUM loss calculations and review competing products from AUM loss on rebalance.
A recording is available for methodologists and interested community members. Reach out to @overanalyser with any questions.
Daily DAOwlpha: Invest with time, not money. Spend attention, not capital. Time is the most valuable asset we have. - @Coopahtroopa