Index Coop October Update

This update was put together by community member Kiba.

The Index Coop was launched on October 6th by DeFi Pulse and Set Protocol, two of the top teams in the Ethereum ecosystem. The Index Coop is a collective aimed at creating and maintaining the best crypto indices on the market. The coop creates crypto ETPs (exchange traded products) that help users get broad exposure to different sectors or themes across crypto. As the first flagship product, Index has created the DeFi Pulse Index that provides broad DeFi exposure for its users by holding one token.

In our first month since launch, we have had amazing growth across the whole Ethereum ecosystem and cultivated an awesome community of passionate Coop members. We are excited to share all the progress we have made since we started just a month ago.

October DPI Updates

• The Secret Master Plan for the Index Coop was proposed by Set Protocol CEO Felix Feng with an additional update to the strategy from Coop member OverAnalyser.
• 1% of the INDEX token total supply was airdropped to previous DPI holders
• Yam.Finance bought $250,000 worth of DPI to hold in its treasury in one of the first DAO OTC deals. Then, they elected to use their DPI to farm INDEX to become Index Coop members
• Opyn launched calls and puts for DPI making it the first derivatives for an Index Coop product
• At a $15M market cap, DPI index controls ~0.5% of all DeFi governance tokens in circulation for our index ($3B combined market cap). This makes Index Coop the top holder of DeFi’s biggest tokens and the #4 largest holder of YFI excluding exchanges
• $24M of DPI/ETH liquidity staked to earn 9% of INDEXsupply over two months
• The first trustless rebalance occurred for the November rebalance. All trades for updating index composition are now handled by smart contracts
• A DPI product info page was launched at indexcoop.com/dpi.
• CoinGecko lists DPI in the top 100 DeFi tokens (#55 at time of writing)
• Bankless has started using DPI as a market indicator in their newsletter

• An enormous amount of constructive conversations around how to best utilize the underlying tokens in DPI for meta-governance and to earn yields
• DPI was listed as collateral on CREAM lending platform. You can now earn interest on your DPI and borrow it for farming, carry trades, and shorting
• A Dune Analytics dashboard was created with key insights like DEX volume and total DPI supply over time
• Nexus Mutual added Set Protocol to their platform allowing DPI holders to buy cover
• A proposal to create a new index by CoinShares that tracks gold, bitcoin, and ether was posted to the governance forum. CoinShares has products listed on traditional financial exchanges and over $1B in assets under management.

October Community Updates

Even at only one month old, the Index Coop community has grown and evolved towards a collective vision and ethos of working together to achieve common goals. We’ve created codes of conduct to create a safe environment for people to contribute, given each other the space to grow in new ways, discussed values as well as business, and had great debates on strategy for the Index Coop platform and our flagship product — the DeFi Pulse Index. Above all else we’ve made some really good memes!

• Over 800 members joined our discord during the first month of Index Coop. They are extremely active and discussions about governance, tokenomics, product strategy, and growth for the DPI and Index Coop happen daily
• We transformed from Owls 🦉 into Druids 🦉 🦅 🦑 🦁 🐗
• Working groups organically organized for Growth, Development, and Design. They each held several meetings over the month and made all the product updates listed above possible. Thanks you everyone ❤️
• We hosted two community calls for introductions and in-depth discussions
• A Code of Conduct was proposed by Coop member DarkForestCapital and approved with supermajority vote
• The first round of community grants was approved and distributed for a total of 7,460 INDEX (~47 ETH) to 23 members
• A community handbook of Index Coop was created and acts an entrypoint for new members to get involved that has been under constant update as we develop
• Over 50 discussion threads on our governance platform with input from a variety of Coop members
• DarkForestCapital analysed common community/governance problems and how Index Coop is managing them
• Coop members started writing vision and mission statements as well as a manifesto

Dank Memes

October Media Mentions

• DeFi Dad published a tutorial on how to buy DPI on the Bankless YouTube channel
• Coop member Felix joined a Bankless AMA on DPI and the underlying tech from Set Protocol
• Felix was interviewed by CoinDesk China about DPI
• Felix gave a presentation on Index Coop at Liquidity 2020
• Index Coop featured in ChainNews
• DPI easter egg in Argent promo video
• DPI used in DeFi Prime’s DeFi index comparison
• Investor Spencer Noon interviews Coop members Felix Feng and Scott Lewis
• Coop member Over Analyser released a 6 part series(!) of posts on index investing and various DeFi crypto index products
• Conversation with community member Over Analyser with Gabriel Haines

Join Index Coop Community

We are just beginning and there is still so much farther left to go! If you’re curious to learn more about Index Coop or even what to become a Druid come join us on our Discord, Forum, Twitter, or Subreddit.