The sCoop - Contributor Newsletter - 2022.01.11 Tuesday

Fresh Owlpha, curated daily. This is @HOWweDAO . (previous issue)

Contributors old and new chatted in two laid-back meetings on Discord today—F.Nest’s Money Talks AMA and TOC Tea Time. @Matthew_Graham covered tokenomics and the People Nest discussed DAO basics and came up with some ~unusual~ ideas.

Two public meetings tomorrow: BD and the Leadership Forum, where Index Council will share their plans regarding restructuring from WGs to nests and pods. That’s the future of Index and a can’t-miss meeting.




New Stuff:

  • What is Index Coop?: The first video from our new Youtube channel, now posting on a biweekly cadence. Like and comment; it’ll fuel the algorithm!
  • $GMI hoodies: Dropping Thursday. For .1 ETH, get 1 hoodie, 1 $GMI and 1 NFT linked to the merch @Static121
  • LAYER 2 Community Call scheduled for Thursday, January 13th at 18:00 UTC

Hello, Tokenomics

Money Talks F. Nest AMA (16 attendees)

@ElliottWatts kicked us off with an update on what @Finance.Nest has been up to in the last week. They posted December’s Budget vs Actuals and an update on Q1 budget (within there is an explanation of the dynamic staking model (DSM) that incentivizes contributor retention by allocating a fixed percentage of $INDEX to contributors annually. More updates: The DSM Core Hiring Team will emerge in the next 1-2 days. They’ve also opened a Tokenomics channel in Discord. He hopes everyone will check out the Finance Nest Autonomy Act, especially noting its ability to open investment operations wallets and to to enable the F.Nest to use funds from the operations investment account in times of crisis, so it can get to IIP for next week.

@Matthew_Graham explained his goal to restructure the $INDEX token model to accrue value while encouraging behaviors like voting and participation in IC governance. @funkmasterflex brought up requiring staking for voting which is possible if we move towards a voter escrow model that gives tokenholders returns based on how long they stake their tokens.

@Matthew_Graham also fielded @vvronsky’s question: Is our treasury fully established on the smart contract or is it still run by admins? It works manually through multisigs with contributors triggering these processes, detailed here. The treasury functions with the delegation of authority to a subset of the community, the F.Nest. The way to pivot to a fully non-manual system would be to run scripts to make transactions.

Lastly, he recommends a few resources for those interested in tokenomics: Yearn Governance Forum (they’re openly discussing tokenomics, and they’re about a month ahead of IC in that department) and Curve Governance Forum (to learn about voter escrow). He invites discussion in the new Tokenomics channel in Discord.

How to redpill your grandma: “Imagine a DAO for knitting…”

TOC Tea Time (15 attendees)

First, the group chatted about burnout culture in DAOs and some strategies to avoid it. @0xMitz mentioned that grinding all hours of the day and into the AM should not be the only path success in a DAO. Finding ways to balance work and life will ultimately lead to happier contributors more committed to helping their DAO succeed. @bradwmorris agreed; he shouted out Forefront founding contributor Caroline who is active in this discussion on Twitter and is joining IC on Thursday at 9pm UTC to discuss DAO Design with David Ehrlichmann of Impact Networks and our very own @Pepperoni_Joe and @pet3rpan.

Next, we talked through the difficult task many of us know all too well: explaining a DAO to someone with little to no knowledge of crypto or web3, like your grandma (probably). A few ideas gained traction: @JMoss analogized working for a DAO to speaking on a phone that has the incredible ability to allow people to call each other even though it isn’t connected to a power source. @coolhorsegirl compared a DAO to a company thats CEO is a computer and is controlled by its stakeholders. @iluscavia said a DAO is like a clan. @bradwmorris had another idea. He said to ask your questioner what they’re interested in and make an analogy based on their interests. Take, for instance, a grandma: She likes knitting, so make it a knitting DAO. You could tell her that the more knitting you do, the more tokens you get. And the more tokens you get, the more say in governance you get, or in this instance say in what kind of wool the knitters use. Explaining a knitting DAO is a solid idea, or you could just send your grandma our new YouTube video.

Wednesday Meetings: (UTC/1-hr, UON)
1700 - Business Development
1800 - Leadership Forum

Daily Owlpha: “Crypto Twitter does NOT represent the world. The largest population of blockchain gamers live in The Philippines, the highest adoption of bitcoin per capita is in El Salvador, and crypto is growing in Africa faster than ANY continent. No matter where you’re from, you belong here!.” - @OhhhShiny




Thoroughly enjoyed this installation of the sCoop, and our conversation this morning!

Thanks @coolhorsegirl !