The sCoop - Contributor Newsletter - 2022.03.31 Thursday

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

We’re celebrating! That feeling of getting on a Tier 1 CEX has no signs of wearing off. And hey, $INDEX is up 270% from its March lows.

Tomorrow, @TheYoungCrews hosts DeFridays tomorrow on Twitter Spaces at 11am PST. POAPs given to all attendees, as per. And we’ll be back Monday for the Biweekly Standup. See you there!





Battle of the CEXes

Leadership Forum slides

In January 2021, our mission to get on a Tier 1 centralized exchange began. On March 29, 2022, with the listing of DPI and INDEX on Gemini, our mission was complete.

A quick history: It all began with @reganbozman in January 2021. Getting listed on a CEX is not easy, but it has the potential to be the single greatest driver of TVL. Early concerns included listing fees, regulatory issues, need for market maker and legal memo.

That April, @reganbozman secured a legal memo from Dentons with respect to Singaporean law. This was used to get us listed on our first CEX, KuCoin, which happened with DPI on May 20. @fallow8 took over in June, beginning talks with Wintermute about becoming our core marketmaker. This is also when Institutional Business Working Group noted exchange listings as a formal strategy.

In September, we made an agreement to lend 1% of $INDEX supply for market-making purposes as a loan to Wintermute Trading, with Wintermute to return in 1 year. In October, IBWG proposed a legal memo to contemplate a US CEX listing. And the rest, as they say, is history. November saw us submit an application for DPI and INDEX to Gemini, the legal memo was completed in February (significantly under budget, may we add), and finally, on March 29, DPI and INDEX listing was approved by Gemini.

Now, Gemini supports both $DPI and $INDEX for custody and trading on its CEX. This is the first Tier I centralized exchange listing for any Index Coop product and for the governance token itself. $INDEX is up 270% from March lows.

This is a meaningful boost to the Index Coop Treasury, key for our financial sustainability. It’s also a substantial increase in liquidity for INDEX and DPI. More liquidity means more comfort in purchasing which means more demand.

A Tier 1 CEX listing is Index Coop’s first inroads into crossing the chasm over to the mainstream market. Now, we watch as the dominoes will fall for future CEX listings and expanded product listings.

Index Coop Council: v2

Index Coop Council has been elected. Congratulations to the 7 new councilmembers:

Monday Meetings: (UTC/1-hr, UON)
1700 - Biweekly Standup
1900 - Alternative Governance

Tuesday Meetings: (UTC/1-hr, UON)
1600 - Money Talks on Discord
2000 - Community Welcome Call

Daily OWLpha: “Contributors come in all shapes and sizes, from all geographies / They are animators of the fantastic, experimental coders, and round-peg PMs united by a feeling that the time for change has come / With every contribution, they deepen their bonds of trust within the DAO” - @iearnfinance