Over the past two years, Index Coop has become the market leader in building innovative, structured products. We’ve experimented by building a diverse mix of offerings on different blockchains.
Earlier this year, we received an open letter from stakeholders/investors providing constructive feedback about the current state and future of the DAO. Many substantial changes have taken place to our operations, helping facilitate long-term sustainability.
Along those same lines, our products have undergone a thorough evaluation. We’ve left no stone unturned to ensure that every Index Coop product is aligned with our DAO’s mission and provides substantial value to our customers.
During this review, it became clear that not all of our products have found product market fit or accumulated significant TVL. Their growth potential does not outweigh the ongoing costs of maintaining and promoting these products. So the DAO and community have taken the steps necessary to deprecate these products.
Today, an IIP passed to discontinue further development and support of nine Index Coop products: Bankless DeFi Innovation Index (GMI), Market Neutral Yield ETH (MNYe), Web3 Data Economy Index (DATA), and the suite of Polygon FLIs (ETH2x-FLI-P, BTC2x-FLI-P, Matic2x-FLI-P, iETH-FLI-P, iBTC-FLI-P, iMatic-FLI-P).
We’ve worked diligently to provide a clear timeline and simple redemption paths for all token holders. The three distinct phases of the deprecation and recommended steps for holders to take are:
For further details, please read our forum post or reach out to us in the Index Coop Discord for assistance.