The sCoop - Contributor Newsletter - 2022.04.07 Thursday

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

On Wednesday, Owls chatted exchange issuance with @Mringz at the Leadership Forum. Today, Gov Nest and Growth Nest held their weekly calls.

Tomorrow, @TheYoungCrews hosts DeFridays tomorrow on Twitter Spaces at 11am PST with Convex Finance. POAPs given to all attendees, as per. Look forward to the sCoop Weekly, where you’ll get a rundown of everything that’s happened in the Coop this week and learn where the Owls are flying next.



Governance & Finance:

All in the name of increasing AUM

Leadership Forum slides

First, an update from Index Council from @afromac: Council Secretary will be @anthonyb.eth (check out the minutes from April 4 in #icc-minutes in the Contributor server) and the Steward, whose main role is to direct conversation on a chosen topic, will be rotating. Meetings will happen on Mondays and Thursdays, with the majority of work remaining async. By the end of the week, they’re kicking off hiring with priority being 1-2 additional smart contract engineers and asking Community Nest to organize policies for sick/leave policy, performance reviews, and offboarding guidelines. Next week, they’re work on IC vision and purpose, product strategy, and the age-old question: Do we build on just TokenSets?

Next, @Mringz takes it aways with a deep dive into exchange issuance: the process of minting/issuing new units of our Index tokens into circulation using a single ERC-20 token i.e. USDC, ETH, aUSDC. You have a single ERC 20 token, put it into the set contract, it and it sources the underlying tokens that make up the index from DEXes, and it puts these into the Set Contract, locks them up, and issues a token with streaming, mint, and redeem fees. If we can create increase the distribution of exchange issuance into the ecosystem, we’ll see an increase in revenue from streaming, mint and redeem fees. AUM/TVL will also increase from increased circulating product supply, and as will awareness of our products by third party integrations.

Index Coop has generated about $1m in mint/redeem fees to dat, and we’re piloting a community minting program for icETH, having already distributed $200k of icETH to the community. Exchange issuance is not integrated into our app. More resources are available on these three blog posts: FLI, DPI, and icETH.

Here’s how we increase adoptions:

  • Educational content
  • Incentivized exchange issuance, like using lockdrops
  • Minting pools
  • Third party exchange issuance integrations
  • Cross-chain minting

Next steps include brainstorming ideas and receiving feedback from the community on how to increase the adoption and usage of exchange issuance to get exposure to our products, perhaps via surveys or workshops. We’ll then create a roadmap to prioritize implementation of exchange issuance capabilities, and create a strategy to do so. Finally, we’ll execute this strategy.

Electing Elections

Governance Nest | agenda

@sixtykeys with GovOps: 2 IIPs are scheduled for next week, including one to build LAYER1 on a Managed Balancer Pool instead of on Set. IIP Tracker here. Coming elections: Index Council v2.5 in mid-May. MGC members serve for 1.2M blocks; the next MGC election will happen in June, on block 14,920,000.

@shawn16400 with GovComms: @puncar has incorporated the role of Protocol Ambassadors into the plan for Governance House. A survey on v2 voting for the Index Council has been sent in to your email; please fill it out by Friday. As for content, the GovNest report will be posted on the forum in a couple of days, and a new article on Leveraging meta-governance went up on the blog.

Updates on Alternative Governance: Soon, we’ll be able to hold contributor votes on Snapshot. The format we’ll use initially is voting weights (1-2-4 for Bronze-Silver-Gold) assigned to owl levels through NFTs. If you’re interested, go play around on the Snapshot test vote.

Hot topic: include gaining clarity on next ICCv2 term length; two members, @Metfanmike and @Matthew_Graham, complete their 6-month term on May 5. Gov may run a poll to extend their terms until August 31 to align it with the remaining v2 Council, erasing the staggered membership model. Thoughts? Throw 'em in #governance-nest.

Smart, explosive, and obvious (SEO)

Growth Nest | slides

First, let’s remind ourselves what SEO is; it’s a highly effective mid to long-term strategy that makes it easier for our website content to be found online and rank on the first page of Google’s search engine result pages. By following best practices for content on owned channels, we increase website visibility, authority, and trust.

Mid-season update from Paid Performance and SEO: We’ve put a stop to paid brand displace outreach in favor of waiting until we are a legal entity to enable cost-per-click. They’ll spend some of that budget testing learn-to-earn in collaboration with CNest at $3/cost-per-acquisition, which is a 33% conversion rate at $1 cost-per-click. They’ve also spent on PR Brand Awareness, softly for Argent and icETH and more intensely for Gemini and Blockchain 50.

One major goal is to launch owned channels into the top 3 search results under a given Index Coop-related term, like “eth flexible leverage index.” One of Google’s top 3 ranking facts are backlink, which they’re testing 3-month results until June 31 before reevaluatng. Now, @lee0007 will spend 90% of the rest of this season focusing on SEO because that is where she believes will have be the highest return on investment strategy.

Lastly, Content Pod, led by @marshmellow, published 18 blog articles in March, with 11 coming from other Pods and 7 commissioned by Content Pod. 5 installments of our weekly newsletter written by @kindeagle went to emails, with the team working on a landing page for signup and a viewing page for the newsletter on the blog.

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

Tuesday Meetings: (UTC/1-hr, UON)
1600 - Money Talks on Discord
2000 - DeFi 101, from the desk of @funkmasterflex (ask any and all questions you have about DeFi or Index)

Daily OWLpha: “Be the person that helps someone understand web3.” - @Cooopahtroopa