Squad: @0xLucas, @LemonadeAlpha, @FunkMasterFlex, @Bo, @bgov, @
Date Created: December 2nd, 2021
Bankless Indexes compose of the BED index and GMI index. These are core products for the DAO, providing easy access to the major investments themes in crypto. BED is a beginner index composed of BTC, ETH, and DPI and provides easy access to the core themes in crypto w/ passive management. GMI is our newer index tapping into the innovation in DeFi or “DeFi 2.0” and takes on a more actively managed approach.
Both products direct 100% of the revenue for the treasury via its streaming fees.
- Launched GMI, a DeFi 2.0 index featuring a 1.95% streaming fee.
- Launched the GMI Hot Tub, a Rari Fuse pool providing utility to GMI constituents
- Onboarded BED and GMI onto Argent + ZigZag, creating a fiat onramp to Bankless Indexes
- Translated Bankless Index content into more languages via our International Media Node Program
- Integrated Bankless Indexes into Mango, allowing users to DCA into BED and GMI via fiat
- Grew the indexes to an aggregate of over $5M, on track to generate over $50K in revenue for the DAO.
- Scale BED and GMI to 8-figure market caps, driving a significant amount of revenue to the DAO treasury
- Launch a GMI liquidity mining program to deepen liquidity and integrate the index into the GMI Fuse Pool
- Begin the exchange listing process for the BED index
- Engage in a marketing campaign to grow awareness of BED and GMI
- Developer more relationships with protocol DAOs, institutions, and investors to buy Bankless Indexes
Total: 750,000 BANK
Liquidity Mining Program: 500,000 BANK
Marketing Lead: 50,000 BANK
Business Development: 75,000 BANK
Methodologists (GMI): 125,000 BANK
We’ve also retained the entirety of our S3 budget of 900K BANK in anticipation for the liquidity mining program. We’re waiting for exchange issuance on GMI to help facilitate minting the of the index.
100% of all revenue from Bankless Indexes accrue to the DAO treasury. As it stands today:
- BED: 0.25% streaming fee w/ a 50% split to the DAO. At current market cap $2.9M, bDAO is earning $3.6K per year. If we reach our goal of $10M in S4, this would generate $12.5K per year.
- GMI: 1.95% streaming fee w/ a 40% split to the DAO. At the current market cap of $2.2M, bDAO is earning $17.1K per year. If we reach our goal of $10M in S4, this would generate $72K per year for the DAO.
This does not include the INDEX rewards, which composes a majority of the bankless indexes revenue model!