It was a summer full of events, new products and a "onwards and upwards" movement at Index Coop. I kept voting, I kept learning and I watched how the Coop is becoming the place where both crypto savvy and newcomers can enjoy investing in cryptocurrencies. I witnessed how "crypto for everyone" was created. Index broke down the entry barrier in crypto and a good example is this AMA where 456 joined in for a pill of crypto knowledge!
The Index Coop drive towards perfection comes from autonomy and the formation of the Autonomy Kick-Off group will make sure that the decisions will always be in the Coop's best interest. The group will create a leadership framework job is to identify and integrate organizational initiatives while coordinating the development process. Read more about it in Index Coop Family - I voted for the formation of the Autonomy Kick-Off Group
Few weeks later, a new vote was required, to add an additional member to the Funding Council. As usual, I done my job and voted for the new member. Being part of the decision making process is the next best thing after buying Bitcoin in 2012-2013.
Constant evolution and the "onwards and upwards" mentality I was talking above comes from innovative thinking, brain storming sessions and out-of-the-box ideas that will lead to new projects/ products, always backed by voting.
Voting on the Index Snapshots makes me feel like an old wise owl, even is I am a lesser bird in the Council of Wise Owls. I will check the snapshot page on a regular basis and sometimes I am amazed to find a lot of votes that require my attention. Read more about it in Index Coop - Governance and the Council of Wise Owls
Introducing ... the DATA ECONOMY INDEX ($DATA)
The Index Coop innovative products are created to make a difference in the Cryptoverse and $DATA is the latest example. The Data Economy Index is an ecosystem of data-based products and services that have a bright future. The data-based products are set to disrupt the data monopolies in the sector.
In the last 2 years, we seen DeFi disrupting the traditional banking and financial services, changing the way people loan and borrow money, cryptocurrencies or assets. The $DATA index aims to mirror the DeFi effect into the data sector, bringing transparency instead of monopolies. The index is a digital asset tat captures the growth of data economies, a "data centric and chain agnostic.
The inclusion criteria for $DATA selection was based on the following factors (according to $DATA by Index Coop):
- Data-based Protocol: The protocol provides data-based services or products.
- Ethereum Token: The token must be available on the Ethereum blockchain. This will be revised if the Set Protocol infrastructure becomes multi-chain.
- Organic Network Activity or Usage: Protocol must have organic network activity or usage. On-chain transaction volume, Total Value Locked (TVL), and/or revenue paid to service providers are all examples of metrics that can be used to demonstrate organic network activity.
- Market Capitalization: Circulating market capitalization must be over $100m.
- Decentralized Exchange (DEX) Liquidity: Protocol token must have sufficient DEX liquidity to support inclusion. If a token has insufficient liquidity, it will be removed from the index during the determination phase.
- History: Protocol must have at least 3 months history of operation and its token must have at least 3 months of price and liquidity history.
- Security: An independent security audit should have been performed on the protocol and results reviewed by the product methodologist. In the case that no audit has been performed, the methodologist applies subjective judgement of the protocol based on assessment of the criteria above and communications with the team.
- Safety: In the event of a security issue the methodologist will work with the project team to understand the issue and any effects to DATA holdings. The team is expected to provide users of the protocol with a reliable solution and adequate documentation to ensure transparency about any incidents.
Chainlink (LINK), Filecoin (RENFIL), Numeraire (NMR), The Graph (GRT), Basic Attention Token (BAT), Livepeer (LPT) and Ocean Protocol (OCEAN) were selected to create DATA - the All-in-one token that will lead the revolution.
The DATA Index will use circulating market capitalization to determine the weight of each token included in the index. Chainlink (LINK) has 25.45% of the allocation, followed by The Graph (GRT) with 23.76% and Filecoin (renFIL) with 23.75%. The Basic Attention Token (BAT) has a higher allocation then the remainig assets, with 13.83%. Livepeer (LPT) , Numeraire (NMR) and Ocean Protocol (OCEAN) will cover close to 5% each.
The 25% weight cap for each token will create a redistribution system where the excess weight will be allocated to the remaining components of the Data Economy Index on a weighted basis. The process will repeated for each token once will exceed the 25% allocation cap.
It's all about data and how this can drive the world forward. We had so many types of data but now we finally have ... THE $DATA!
Residual Income:
Torum essence - Be part of the future!
DeFi bounty at ++CakeDeFi++ with $30 DFI for new users
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