Bankless Index Growth Squad

Title: Bankless Index Growth Squad
Authors: @0xLucas
Squad: @Airbayer, @LemonadeAlpha, @FunkMasterFlex, @Bo, @bgov
Date Created: December 2nd, 2021


Remuneration for the Bankless Indices Growth Squad and formally establishing the working group around Bankless Indices (BED, GMI, etc).


Bankless DAO has been working with the Index Coop to launch one-click index products for the crypto ecosystem. This has culminated in the BED index and the soon-to-launch GMI index.

We currently have a group working towards growing these indexes and are requesting remuneration for the work. To date, the index growth team has pursued treasury diversification via the BED index to bootstrap the initial liquidity. We’ve seen a significant amount of success with these efforts, resulting in treasury diversifications from UMA, Pickle Finance, Visor Finance and others.

We’re currently collaborating with individuals from the Index Coop’s treasury diversification team to double down on this initiative and push the ball forward.


Bankless DAO’s goal is to onboard billions of people into crypto. Index products are a great avenue to achieve this. They enable new users to get easy, set-it-and-forget-it exposure to emerging trends in the crypto economy. As such, we’re closely working with the Index Coop to design, launch, and market these products to the world.


Index Products Background

Bankless DAO has already launched one product for the Index Coop in July 2021, the BED index. This is an equal-exposure index to the main themes in crypto: digital gold (BTC), programmable money (ETH), and Decentralized Finance (DPI). The DAO receives a 50/50 split on the 0.25% streaming fee. We’re in discussions to double this fee in the coming future.

In addition, we’re currently in the final process for launching the Bankless GMI index–an index featuring more aggressive DeFi protocols, dubbed “DeFi 2.0”. The current verbal agreement is a 60/40 split on a 1.95% annualized streaming fee (but still requires approval via governance). Given the success of the DPI, and the narrative of DeFi 2.0, we believe this product will be extremely successful once it hits the market and will be comparable to the DPI.

These are just the first of many index products that we want to launch with the Index Coop. As such, we’re establishing a working group to grow, market, and drive adoption of these products across the crypto ecosystem.

Growth Squad Workstreams

The Bankless Indices Growth Squad has a handful of initiatives that we want to pursue as these products continue to hit the market:

1. Business Development

Right now, this is the bread and butter for scaling the BED index. We’re in discussions with different protocols and teams on leveraging the BED index as a bedrock (ha) asset for their treasury. After multiple discussions, we believe this is the optimal route to bootstrapping the initial liquidity and unit supply for BED in the coming months.

TBD for GMI and how it’s received by the market.

2. Integrations

We want to get BED and GMI everywhere. This includes leading mobile wallets like Dharma and Rainbow to help drive user growth and DeFi protocols like Aave and Maker, using the assets as collateral. Both of these steps require a fair amount of liquidity (unit supply) on the market, bringing us to point #1 for the BED index (and soon GMI).

3. Liquidity & Exchanges

This ties into the Business Development, but the growth squad is also responsible for helping bootstrap liquidity on DEXs and facilitating CEX listings. This requires a substantial amount of market cap for centralized exchanges to support, so we’re still working towards this goal.

4. Marketing

The last area we want to work on is general marketing and education. This encompasses creating useful content surrounding the benefits of the indices (whether treasury diversification, market performance, simplicity, etc.) and ensuring it propagates throughout the crypto sphere. We currently need help on this front so if you’re interested in marketing & education for the Bankless indices, reach out!


150,000 BANK for contributor remuneration, to be distributed via internal Coordinape round.


The Bankless Brand will be used on each and every index product name, to help with positioning and awareness within the broader community.


Key Metric:


  • Request Grant Committee funding for contributor remuneration
  • Launch the GMI index
  • Prepare for Season 3


  • 0xLucas - Champion
  • Airbayer - Business Development
  • AlphaLemonade (Index Coop) - Methodologist
  • FunkMasterFlex (Index Coop) - Business Developemnt
  • Bo - Business Development
  • Ben Giove - Methodologist

POLL (Discourse Post Usage Only)

  • Fund Bankless Index Growth Squad Remuneration
  • Don’t Fund Bankless Index Growth Squad Remuneration

0 voters

Hello friends :black_flag: . Long time listener first time caller lol.

Happy to provide any extra info on what’s going on and happy chat with any and all of you about strategies. @0x_Lucas said it perfectly, we are pushing hard to make BED (and very soon GMI) more accessible. The simplest and most investable crypto index should also be the easiest to buy. We have lots of momentum with DAO BED purchases right now and am excited to add new products like GMI and even PAY which can all pair nicely for a balanced treasury. Hope to get our army of bankless/owls across the DAO ecosystem spreading the word and building relationships with treasury teams.

Anyway, owls are always available in Index Coop Discord. We do, however, have a channel #bd-bankless-chat which we can add any of you to for direct comms and updates with our biz dev team (gated so hit me up funkmasterflex#7870 or the squad above for access).

Looking forward to all that is ahead!! :owl: :handshake: :black_flag:

This is a project that has been delivering already and have finished products. I can only vote yes! Great work.

1 Like

I actually do approve, but would strongly encourage this group to also assist with educating the DAO. I don’t feel that most members, myself more importantly, is informed enough to make a decision.

Hey team, keep up the good work!

But we have to remember, that launching a product is just the beginning, we have to keep reminding people about their existence.

Hi, Funkmaster… I am a big fan of the BED and have been using it as a better HODL for a while now.

I like the proposal for the GMI and I’ll vote yes. I want to talk to you about raising the stakes however for the next move and presenting something to the Index Coop and to the market that’s never been tried and would be a huge differentiator… I mean BIG.

One word (well… three): Integrated compliance features.

There are some complexities implied… and a couple of philosophical hurdles… but this is soooo do-able that it once done everyone looking for serious institutional and family office money will be doing it, too.