Mar 2 | 3 min read
Hi there! Last week, we shared a few beginner DeFi resources to help you get started & told you how the $INDEX token’s metagovernance provides value beyond NGU (Number Go Up). This week, we’re excited to share that the Index Coop was selected as one of the top 50 most innovative blockchain startups. We’d also like to introduce you to the Data Economy Index (in case you haven’t already met).
The Index Coop team
CB Insights this week named Index Coop, the leader in crypto index products, to its second annual Blockchain 50, which showcases the 50 most promising blockchain and crypto companies in the world. The 2022 Blockchain 50 cohort has raised $17.1B in aggregate funding across over 200 deals since 2016 and includes startups at different investment stages of development, from early-stage companies to well-funded unicorns. Index Coop is one of only three DeFi protocols included in this prestigious list. "Last year, we saw incredible success from the Blockchain 50 winners.” Brian Lee, SVP of CB Insights’ Intelligence Unit, said. “We're excited to follow their journeys and see their success in 2022.” Read more.
The Data Economy Index (DATA) is an ecosystem of data-based products and services. Whereas decentralized finance (aka DeFi) is disrupting traditional banking and financial services, the data economy is disrupting the data monopolies built-in Big Tech over the past 20 years. Decentralization and transparent on-chain data are two of the transformative aspects of blockchain technology. Instead of Facebook and tech monopolies profiting from your data, one of the promises of blockchain and Web3 is that you’ll retain the rights and economic power associated with your personal information. The Data Economy Index is a digital asset index capturing the growth of data economies with significant economic activity. DATA will include tokens from any blockchain that provides data-based products or services. The index currently consists of 8 underlying tokens, including Chainlink, ENS, and more. Read more.
Developing an operational structure that aligns contributors to create valuable products isn't a static process. Each DAO must decide which decisions should be made on the spectrum of decentralization, from individuals to elected groups to a community token vote. At the Index Coop we’ve developed a structure that balances the need for decentralization with the need for efficiency and clear decision-making frameworks. We have three delegated decision-making levels: pods, nests, and the Index Council. The Index Improvement Proposal (IIP) process continues to play an essential role in our new structure as it will validate, confirm and approve Index Council, nest coordinators, and nest proposals and budgets. By holding the $INDEX token, anyone can participate in this decision-making process. As Index Coop enters a new season, this improved structure will enable the works so fresh and innovative index products can be delivered. This evolution is a step in the right direction as we assess and refine how we operate and help define how decentralized, contributor-led organizations are built. Read more.
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